The global frozen food market is forecasted to jump from USD 365.2 billion in 2024 to USD 638.6 billion in 2034. Thus, the market’s progress is projected to happen at a CAGR of 5.7% for the forecast period.
Attributes | Key Insights |
---|---|
Estimated Global Frozen Food Size (2024E) | USD 365.2 billion |
Projected Frozen Food Value (2034F) | USD 638.6 billion |
Value-based CAGR (2024 to 2034) | 5.7% |
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Global frozen food sales progressed at a CAGR of 5.4% in the historical period, propelled by the following factors:
The global market for frozen food is expected to rise at a compound annual growth rate (CAGR) of 5.7% by 2034.
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The below table shows the estimated growth rates of the top six countries. The CAGRs for India, Japan, and the United Kingdom are set to be promising, with the numbers being 5.9%, 5.6%, and 5.2% respectively.
Countries | CAGR (2024 to 2034) |
---|---|
United States | 4.9% |
United Kingdom | 5.2% |
Germany | 5.0% |
China | 4.2% |
India | 5.9% |
Japan | 5.6% |
The frozen food market in the United States is expected to develop at a CAGR of 4.9% through 2034, aided by the following growth factors:
China’s frozen food market is projected to climb at a steady CAGR of 4.2% during the forecast period, attributable to a combination of factors:
The demand for frozen food in Japan is rising, with a projected CAGR of 5.6% through 2034. Emerging patterns in the market are as follows:
The below section shows the frozen fish and seafood segment dominating by product type. It is predicted to surge at 4.0% CAGR through 2034. Based on sales channels, the hypermarket/supermarket segment is anticipated to generate a dominant share through 2024. It is expected to rise at a CAGR of 4.1% through 2034.
Segment | CAGR (2024 to 2034) |
---|---|
Frozen Fish and Seafood (Product Type) | 4.0% |
Hypermarket/Supermarket (Sales Channel) | 4.1% |
Frozen food manufacturers are entering into strategic joint ventures and alliances with other manufacturers to increase efficiency in their production processes, meeting the requirements of an ever-widening consumer base. High investments in capital and a cumbersome manufacturing process are the hallmarks of this industry.
Leading manufacturers in this industry are characterized by large customer bases, well-known brands, and large distribution networks; therefore, they are formidable competitors to the small-scale participants in the market. Companies in this market have in place a range of growth strategies, which include various alliances and new product launches.
For instance
The market is set to reach USD 365.2 billion in 2024.
Demand for frozen food is slated to expand at a 5.7% CAGR by 2034.
The market is set to reach USD 638.6 billion in 2034.
Aryzta A.G., Ajinomoto Co. Inc., and Cargill Incorporated are the key players.
The frozen fish and seafood segment is estimated to hold a significant market share in 2024.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Dynamics 3.1. Drivers 3.1.1. Supply Side Drivers 3.1.2. Demand Side drivers 3.1.3. Economic Side Drivers 3.2. Restraints 3.3. Opportunity 3.4. Market trends By Region 3.5. Product Launches 3.6. Product Claims & Nutritional Information Scan by Buyers 3.7. Macro-Economic Factors 3.8. Forecast Factors - Relevance & Impact 3.9. Policy and Regulatory Landscape 4. Global Market - Pricing Analysis 4.1. Price Point Assessment by Region 4.1.1. Manufacturer Level Pricing 4.1.2. Distributor Level Pricing 4.1.3. Retail Level Pricing 4.2. Price Forecast till 2034 5. Value Chain Analysis 5.1. Profitability and Gross Margin Analysis By Competition 5.2. List of Active Participants 5.3. Raw Material Suppliers 5.4. Key Manufacturers 5.5. Key Distributor/Retailers 6. Global Market Demand in Value (US$ billion) and Volume (MT) Analysis 2019 to 2023 and Forecast, 2024 to 2034 6.1. Historical Market Value (US$ billion) and Volume (MT) Analysis, 2019 to 2023 6.2. Current and Future Market Value (US$ billion) and Volume (MT) Projections, 2024 to 2034 6.2.1. Y-o-Y Growth Trend Analysis 6.2.2. Absolute $ Opportunity Analysis 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Freezing Technique 7.1. Introduction / Key Findings 7.2. Historical Market Size (US$ billion) and Volume (MT) Analysis By Freezing Technique, 2019 to 2023 7.3. Current and Future Market Size (US$ billion) and Volume (MT) Analysis and Forecast By Freezing Technique, 2024 to 2034 7.3.1. Blast Freezing 7.3.2. Belt Freezing 7.3.3. Individual Quick Freezing 7.4. Market Attractiveness Analysis By Freezing Technique 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ billion) and Volume (MT) Analysis By Product Type, 2019 to 2023 8.3. Current and Future Market Size (US$ billion) and Volume (MT) Analysis and Forecast By Product Type, 2024 to 2034 8.3.1. Frozen Ready Meals 8.3.2. Frozen Fish & Seafood 8.3.3. Frozen Meat Products 8.3.3.1. Poultry 8.3.3.2. Pork 8.3.3.3. Beef 8.3.4. Frozen Dairy Products 8.3.5. Frozen Fruits & Vegetables 8.3.6. Frozen Bakery products 8.3.7. Frozen Soups & Sauces 8.4. Market Attractiveness Analysis By Product Type 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ billion) and Volume (MT) Analysis By Sales Channel, 2019 to 2023 9.3. Current and Future Market Size (US$ billion) and Volume (MT) Analysis and Forecast By Sales Channel, 2024 to 2034 9.3.1. Food Service Industry 9.3.2. Retail/Household 9.3.2.1. Hypermarket/Supermarket 9.3.2.2. Convenience Store 9.3.2.3. Departmental Stores 9.3.2.4. Wholesale Stores 9.3.2.5. Mass Grocery Stores 9.3.2.6. Independent Retailers 9.3.2.7. Specialty Stores 9.4. Market Attractiveness Analysis By Sales Channel 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 10.1. Introduction 10.2. Historical Market Size (US$ billion) and Volume (MT) Analysis By Region, 2019 to 2023 10.3. Current Market Size (US$ billion) and Volume (MT) Analysis and Forecast By Region, 2024 to 2034 10.3.1. North America 10.3.2. Latin America 10.3.3. Europe 10.3.4. East Asia 10.3.5. South Asia 10.3.6. Oceania 10.3.7. Middle East and Africa 10.4. Market Attractiveness Analysis By Region 11. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 11.1. Introduction 11.2. Pricing Analysis 11.3. Historical Market Size (US$ billion) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 11.4. Market Size (US$ billion) and Volume Forecast By Market Taxonomy, 2024 to 2034 11.4.1. By Country 11.4.1.1. United States 11.4.1.2. Canada 11.4.2. By Freezing Technique 11.4.3. By Product Type 11.4.4. By Sales Channel 11.5. Market Attractiveness Analysis 11.5.1. By Country 11.5.2. By Freezing Technique 11.5.3. By Product Type 11.5.4. By Sales Channel 11.6. Market Trends 11.7. Key Market Participants - Intensity Mapping 11.8. Drivers and Restraints - Impact Analysis 12. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Size (US$ billion) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 12.4. Market Size (US$ billion) and Volume Forecast By Market Taxonomy, 2024 to 2034 12.4.1. By Country 12.4.1.1. Brazil 12.4.1.2. Mexico 12.4.1.3. Argentina 12.4.1.4. Rest of Latin America 12.4.2. By Freezing Technique 12.4.3. By Product Type 12.4.4. By Sales Channel 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Freezing Technique 12.5.3. By Product Type 12.5.4. By Sales Channel 12.6. Market Trends 12.7. Key Market Participants - Intensity Mapping 12.8. Drivers and Restraints - Impact Analysis 13. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Size (US$ billion) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 13.4. Market Size (US$ billion) and Volume Forecast By Market Taxonomy, 2024 to 2034 13.4.1. By Country 13.4.1.1. Germany 13.4.1.2. United Kingdom 13.4.1.3. France 13.4.1.4. Italy 13.4.1.5. Spain 13.4.1.6. BENELUX 13.4.1.7. Nordic 13.4.1.8. Russia 13.4.1.9. Poland 13.4.1.10. Rest of Europe 13.4.2. By Freezing Technique 13.4.3. By Product Type 13.4.4. By Sales Channel 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Freezing Technique 13.5.3. By Product Type 13.5.4. By Sales Channel 13.6. Market Trends 13.7. Key Market Participants - Intensity Mapping 13.8. Drivers and Restraints - Impact Analysis 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Size (US$ billion) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 14.4. Market Size (US$ billion) and Volume Forecast By Market Taxonomy, 2024 to 2034 14.4.1. By Country 14.4.1.1. China 14.4.1.2. Japan 14.4.1.3. South Korea 14.4.2. By Freezing Technique 14.4.3. By Product Type 14.4.4. By Sales Channel 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Freezing Technique 14.5.3. By Product Type 14.5.4. By Sales Channel 14.6. Market Trends 14.7. Key Market Participants - Intensity Mapping 14.8. Drivers and Restraints - Impact Analysis 15. South Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Size (US$ billion) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 15.4. Market Size (US$ billion) and Volume Forecast By Market Taxonomy, 2024 to 2034 15.4.1. By Country 15.4.1.1. India 15.4.1.2. Thailand 15.4.1.3. Malaysia 15.4.1.4. Indonesia 15.4.1.5. Vietnam 15.4.1.6. Philippines 15.4.1.7. Singapore 15.4.1.8. Rest of South Asia 15.4.2. By Freezing Technique 15.4.3. By Product Type 15.4.4. By Sales Channel 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Freezing Technique 15.5.3. By Product Type 15.5.4. By Sales Channel 15.6. Market Trends 15.7. Key Market Participants - Intensity Mapping 15.8. Drivers and Restraints - Impact Analysis 16. Oceania Market Analysis 2019 to 2023 and Forecast 2024 to 2034 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Size (US$ billion) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 16.4. Market Size (US$ billion) and Volume Forecast By Market Taxonomy, 2024 to 2034 16.4.1. By Country 16.4.1.1. Australia 16.4.1.2. New Zealand 16.4.2. By Freezing Technique 16.4.3. By Product Type 16.4.4. By Sales Channel 16.5. Market Attractiveness Analysis 16.5.1. By Country 16.5.2. By Freezing Technique 16.5.3. By Product Type 16.5.4. By Sales Channel 16.6. Market Trends 16.7. Key Market Participants - Intensity Mapping 16.8. Drivers and Restraints - Impact Analysis 17. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Market Size (US$ billion) and Volume Trend Analysis By Market Taxonomy, 2019 to 2023 17.4. Market Size (US$ billion) and Volume Forecast By Market Taxonomy, 2024 to 2034 17.4.1. By Country 17.4.1.1. GCC Countries 17.4.1.2. Turkiye 17.4.1.3. Egypt 17.4.1.4. South Africa 17.4.1.5. Rest of Middle East and Africa 17.4.2. By Freezing Technique 17.4.3. By Product Type 17.4.4. By Sales Channel 17.5. Market Attractiveness Analysis 17.5.1. By Country 17.5.2. By Freezing Technique 17.5.3. By Product Type 17.5.4. By Sales Channel 17.6. Market Trends 17.7. Key Market Participants - Intensity Mapping 17.8. Drivers and Restraints - Impact Analysis 18. Country-level Market Analysis 18.1. Introduction 18.1.1. Market Value Proportion Analysis, By Key Countries 18.1.2. Global Vs. Country Growth Comparison 18.2. United States Market Analysis 18.2.1. By Freezing Technique 18.2.2. By Product Type 18.2.3. By Sales Channel 18.3. Canada Market Analysis 18.3.1. By Freezing Technique 18.3.2. By Product Type 18.3.3. By Sales Channel 18.4. Brazil Market Analysis 18.4.1. By Freezing Technique 18.4.2. By Product Type 18.4.3. By Sales Channel 18.5. Mexico Market Analysis 18.5.1. By Freezing Technique 18.5.2. By Product Type 18.5.3. By Sales Channel 18.6. Argentina Market Analysis 18.6.1. By Freezing Technique 18.6.2. By Product Type 18.6.3. By Sales Channel 18.7. Germany Market Analysis 18.7.1. By Freezing Technique 18.7.2. By Product Type 18.7.3. By Sales Channel 18.8. United Kingdom Market Analysis 18.8.1. By Freezing Technique 18.8.2. By Product Type 18.8.3. By Sales Channel 18.9. France Market Analysis 18.9.1. By Freezing Technique 18.9.2. By Product Type 18.9.3. By Sales Channel 18.10. Italy Market Analysis 18.10.1. By Freezing Technique 18.10.2. By Product Type 18.10.3. By Sales Channel 18.11. Spain Market Analysis 18.11.1. By Freezing Technique 18.11.2. By Product Type 18.11.3. By Sales Channel 18.12. BENELUX Europe Market Analysis 18.12.1. By Freezing Technique 18.12.2. By Product Type 18.12.3. By Sales Channel 18.13. Nordic Market Analysis 18.13.1. By Freezing Technique 18.13.2. By Product Type 18.13.3. By Sales Channel 18.14. Russia Region Market Analysis 18.14.1. By Freezing Technique 18.14.2. By Product Type 18.14.3. By Sales Channel 18.15. Poland Market Analysis 18.15.1. By Freezing Technique 18.15.2. By Product Type 18.15.3. By Sales Channel 18.16. China Market Analysis 18.16.1. By Freezing Technique 18.16.2. By Product Type 18.16.3. By Sales Channel 18.17. Japan Market Analysis 18.17.1. By Freezing Technique 18.17.2. By Product Type 18.17.3. By Sales Channel 18.18. India Market Analysis 18.18.1. By Freezing Technique 18.18.2. By Product Type 18.18.3. By Sales Channel 18.19. Thailand Market Analysis 18.19.1. By Freezing Technique 18.19.2. By Product Type 18.19.3. By Sales Channel 18.20. Malaysia Market Analysis 18.20.1. By Freezing Technique 18.20.2. By Product Type 18.20.3. By Sales Channel 18.21. Indonesia Market Analysis 18.21.1. By Freezing Technique 18.21.2. By Product Type 18.21.3. By Sales Channel 18.22. Vietnam Market Analysis 18.22.1. By Freezing Technique 18.22.2. By Product Type 18.22.3. By Sales Channel 18.23. Philippines Market Analysis 18.23.1. By Freezing Technique 18.23.2. By Product Type 18.23.3. By Sales Channel 18.24. Singapore Market Analysis 18.24.1. By Freezing Technique 18.24.2. By Product Type 18.24.3. By Sales Channel 18.25. Australia Market Analysis 18.25.1. By Freezing Technique 18.25.2. By Product Type 18.25.3. By Sales Channel 18.26. New Zealand Market Analysis 18.26.1. By Freezing Technique 18.26.2. By Product Type 18.26.3. By Sales Channel 18.27. Turkiye Market Analysis 18.27.1. By Freezing Technique 18.27.2. By Product Type 18.27.3. By Sales Channel 18.28. GCC Countries Market Analysis 18.28.1. By Freezing Technique 18.28.2. By Product Type 18.28.3. By Sales Channel 18.29. Egypt Market Analysis 18.29.1. By Freezing Technique 18.29.2. By Product Type 18.29.3. By Sales Channel 18.30. South Africa Market Analysis 18.30.1. By Freezing Technique 18.30.2. By Product Type 18.30.3. By Sales Channel 19. Market Structure Analysis 19.1. Global Market Competition - a Dashboard View 19.2. Global Market Structure Analysis 19.3. Global Market Company Share Analysis 19.3.1. For Tier 1 Market Players, 2024 19.3.2. Company Market Share Analysis of Top 5 Players, By Region 19.4. Key Participants Market Presence (Intensity Mapping) by Region 20. Competition Analysis 20.1. Competition Benchmarking 20.2. Competition Deep Dive 20.2.1. Bellisio Foods Inc. 20.2.1.1. Product Portfolio 20.2.1.2. Revenue by Market Segments (Product/Channel/Region) 20.2.1.3. Sales Footprint 20.2.1.4. Strategy Overview 20.2.2. General Mills Inc. 20.2.3. Kellogg Company 20.2.4. Grimway Farms 20.2.5. Hanover Foods Corp 20.2.6. ConAgra Foods, Inc. 20.2.7. Seapoint Farms LLC 20.2.8. Smith Frozen Foods Inc. 20.2.9. Inventure Foods, Inc. 20.2.10. Stahlbush Island Farms 20.2.11. Seabrook Brothers & Sons Inc. 20.2.12. Pinnacle Foods Inc. 20.2.13. Goya Foods Inc. 20.2.14. The Pictsweet Co. 20.2.15. Other Players (On Additional Requests) 21. Assumptions and Acronyms Used 22. Research Methodology
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