Frozen Food Market Forecast, 2023-2028

The Frozen Food Market size is estimated to reach $383.3 billion by 2028, growing at a CAGR of 5.5% during the forecast period 2023-2028. The surging impulse buys of frozen foods are set to drive the Frozen Food Market. The soaring evolution from the sale of frozen fruits & vegetables to frozen vegetable mixes, frozen desserts and bakery products is set to propel the growth of the Frozen Food Industry during the forecast period. Frozen food products may include frozen fruits & vegetables, frozen dairy products like frozen yogurt, frozen meat & seafood and more. Only good quality raw materials can create good quick-frozen vegetables. As per Impulse Buying Statistics on Brandongaille.com, up to 20% of the average household’s grocery bill is derived from items that were bought on impulse only. Frozen foods may feature on the list of impulse buys. The frozen dessert industry has evolved to include Keto ice cream by Mammoth Creameries as well as sentimental and Gen Z-friendly Bubble Gum Ice Cream by Walmart. This represents the Frozen Food Industry Outlook.

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Frozen Food Market Report Coverage

The “Frozen Food Market Report - Forecast (2023-2028)” by IndustryARC, covers an in-depth analysis of the following segments in the Frozen Food Market.

By Product Type: Frozen Fruits & Vegetables, Frozen Meat & Seafood, Frozen Cooked Ready Meals, Frozen Desserts, Frozen Snacks and Others.

By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Online Channels and Others.

By Geography: North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

  • Geographically, Europe (Frozen Food market share) accounted for the highest revenue share in 2022 and it is poised to dominate the market over the period 2023-2028 owing to skyrocketing intake of frozen meat & seafood in the European region.

  • The growth of the Frozen Food Market is being driven by a soaring intake of frozen ready meals involving good quality raw materials. However, issues in the cooling chain may result in health complications which is one of the major factors hampering the growth of the Frozen Food Market.

  • The Frozen Food Market Detailed Analysis of the Strengths, Weaknesses and Opportunities of the prominent players operating in the market would be provided in the Frozen Food Market report.


Taste of Frozen Food Not as Great as Fresh Food:

As per Seafood Consumption Statistics on Brandongaille, 75% of the seafood that is consumed in the U.S. is either fresh or frozen. Frozen food may not taste as great as fresh food. There are restricted assortments of frozen dishes. Texture may be changed when freezing food. The food in the freezer may be out of one’s mind for numerous years. If the food is deposited in the freezer for too long, it may no longer be edible or at least, it may no longer taste that good. Certain frozen dishes include preservatives. Certain foods may lose valued nutrients and vitamins. These issues are thus hampering the growth of the Frozen Food Market.

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Key Market Players 

Novel product launches, partnerships, acquisitions, expansions and investments are key strategies adopted by players in the Frozen Food Market. The top 10 companies in the Frozen Food market are:

  1. Unilever
  2. Nestlé S.A.
  3. General Mills, Inc.
  4. Nomad Foods Limited
  5. Tyson Foods, Inc.
  6. Conagra Brands, Inc.
  7. Wawona Frozen Foods
  8. Kellogg Company
  9. The Kraft Heinz Company
  10. Lantmännen Unibake (Lantmännen Group)

Recent Developments

  • In October 2022, Nestlé declared plans to gain Seattle’s Best brand from Starbucks. It was to be included in the coffee portfolio involving Nescafé, Nespresso and Blue Bottle. Starbucks purchased Seattle’s Best in 2003.
  • In May 2022, Unilever declared that it has marked an agreement to gain a majority stake in Nutrafol. Nutrafol is the principal provider of hair wellness products. Unilever currently holds a minority stake (13.2%) in Nutrafol by way of Unilever Ventures.
  • In January 2021, Unilever declared 25 novel innovations across six of its packaged ice cream and frozen novelty brands. These involved Breyers®, Good Humor®, Klondike®, Magnum ice cream®, Popsicle® and Talenti® Gelato & Sorbetto. These novel creations are currently available at principal retailers countrywide in the U.S., as per a press release. 

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Location: United States

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