Frozen food is winning big! Busy families
and health-conscious eaters are driving the market thanks to
convenient, healthy options. Supermarkets are stocking more variety
than ever, with new and exciting flavors keeping things
interesting. Curious to explore this booming market? Future Market
Insights has a report with all the details, including marketing
strategies, key drivers, and top companies in the frozen food
industry.
NEWARK,
Del., April 23, 2024 /PRNewswire/ -- According
to Future Market Insights (FMI), the global frozen food
market is projected to increase from US$ 365.2 billion in 2024
to US$ 638.6
billion by 2034. The market is projected to surge
at a CAGR of 5.7% from 2024 to 2034.
Download the Sample PDF report to explore
key market insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-17944
Due to their convenience of preparation and
single-serving alternatives, frozen foods are becoming increasingly
popular among consumers, particularly among millennials. The
growing emphasis among consumers on adopting healthy eating habits
is driving the demand for frozen foods.
The market for frozen meals is driven by the
increasing number of dual-income homes and rising urbanization.
These factors are resulting in busier lives and a need for quick
& easy meal alternatives, which frozen foods provide.
Supermarkets and hypermarkets, two contemporary
retail formats that have increased accessibility to a greater range
of frozen food goods, are the primary drivers of the frozen food
sector. As customer tastes change, producers respond by
consistently releasing new and inventive frozen food items, such as
gourmet selections and exotic cuisines, leading to the rise of the
frozen food business.
Key Takeaways from the Report:
- The global frozen food market is projected to
reach US$ 638.6
billion in 2034.
- The market is anticipated to surge at a CAGR
of 5.7% from 2024 to 2034.
- The United States is projected
to expand at a CAGR of around 4.9% by 2034.
- Frozen food demand in China is
anticipated to rise at a steady CAGR
of 4.2% during the forecast period.
- Based on product type, the frozen fish and seafood segment is
predicted to surge at 4.0% CAGR by 2034.
"Consumer demand for nutritious, organic,
and clean-ready meals is rising as a result of their growing
appreciation for food that serves a practical purpose in addition
to pleasure. Customers are carefully picking their frozen foods to
prevent negative health effects due to increased health knowledge
and worries about food safety," says Nandini Roy Choudhury (Client Partner for
Food & Beverages at Future Market Insights, Inc.).
Competitive Landscape
Leading companies are seeking strategic
collaborations & alliances with other producers to increase
efficiency and satisfy the surging number of consumers. Key
manufacturers in this industry, with their sizable customer bases,
well-known brands, and extensive distribution networks, present
fierce competition for the market's participants. To remain
competitive, companies are adapting serval growth tactics into
practice, including alliances and introducing new products.
Recent Development
- In March 2021, Nomad
Foods acquired Fortenova's frozen food business.
- In January 2021, Imperial
Tobacco Company of India Limited (ITC) added ten new items and
tripled the size of its frozen snack business.
Purchase now and gain
full access to the Frozen Food Industry report, featuring
comprehensive Market Forecast, Company Share Analysis, Competition
Intelligence, DROT Analysis, Market Dynamics and Challenges, and
Strategic Growth Initiatives.
Get More Valuable Insights
Future Market Insights (FMI), in its new
offering, provides an unbiased analysis of the global frozen food
market, presenting historical demand data (2019 to 2023) and
forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the
frozen food market based on freezing technique (blast
freezing, belt freezing, individual quick freezing), product type
(frozen ready meals, frozen fish & seafood, frozen meat
products, frozen dairy products, frozen fruits & vegetables,
frozen bakery products, frozen soups & sauces), distribution
channel (food service industry, retail/household), and region.
About the Food & Beverage Division at
Future Market Insights (FMI)
Expert analysis, actionable insights, and
strategic recommendations – the food & beverage team at Future
Market Insights (FMI) helps clients from all over the globe with
their unique business intelligence needs. With a repertoire of over
1,000 reports and 1 million+ data points, the team has analyzed the
food & beverage industry lucidly in 50+ countries for over a
decade. The team provides end-to-end research and consulting
services; reach out to explore how we can help.
About the Author:
Nandini Roy
Choudhury (Client Partner for Food & Beverages at
Future Market Insights, Inc.) has 7+ years of management consulting
experience. She advises industry leaders and explores off-the-eye
opportunities and challenges. She puts processes and operating
models in place to support their business objectives.
She has exceptional analytical skills and often
brings thought leadership to the table.
Nandini has vast functional expertise in key
niches, including but not limited to food ingredients, nutrition
& health solutions, animal nutrition, and marine nutrients. She
is also well-versed in the pharmaceuticals, biotechnology, retail,
and chemical sectors, where she advises market participants to
develop methodologies and strategies that deliver results. Another
feather to her cap manifests in the form of process automation. She
is vocal about bringing automation to the fore to bring a
360-degrees-round revolution in manufacturing sector
Her core expertise lies in corporate growth
strategy, sales and marketing effectiveness, acquisitions and
post-merger integration and cost reduction. Nandini has an MBA in
Finance from MIT School of Business. She also holds a Bachelor's
Degree in Electrical Engineering from Nagpur University,
India.
Nandini has authored several publications, and
quoted in journals including Beverage Industry, Bloomberg, and Wine
Industry Advisor.
Explore FMI's Extensive Coverage in the Food and Beverages
Domain:
- Food and Beverage Additive Market Forecast by
Sweeteners, Enzymes, and Flavors and Enhancers for 2024 to 2034. –
Review and Request to Access the Sample Report.
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Conventional from 2024 to 2034. - Review and Request to Access
the Sample Report.
- Frozen Bakery Market Covering Sales Outlook, Up-to-date
Key Trends, Market Size and Forecast, 2023-2033. - Review and
Request to Access the Sample Report.
- Frozen Yogurt Market Analysis by Dairy-Based and
Non-Dairy Based Product Types from 2024 to 2034. - Review and
Request to Access the Sample Report.
- Coffee Concentrate Market Forecast by Caffeinated and
Decaffeinated Type for 2024 to 2034. - Review and Request to
Access the Sample Report.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence
and consulting service provider, serving clients in over 150
countries. FMI is headquartered in Dubai and has delivery centers in the UK, the
U.S., and India. FMI's latest
market research reports and industry analysis help businesses
navigate challenges and make critical decisions with confidence and
clarity amidst breakneck competition. Our customized and syndicated
market research reports deliver actionable insights that drive
sustainable growth. A team of expert-led analysts at FMI
continuously tracks emerging trends and events in a broad range of
industries to ensure that our clients prepare for the evolving
needs of their consumers.
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Future Market Insights Inc.
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