by Frozen processed foods are ready-to-eat foods that undergo processing and freezing to retain nutrients and extend shelf life. They offer convenience to busy consumers with hectic schedules. Some common frozen processed foods are frozen meat patties, frozen pasta, frozen pizza, frozen fruit juice boxes, frozen ready meals etc.
The global Frozen Processed Food Market is estimated to be valued at US$ 167115.0 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising demand for convenience foods due to changing lifestyles and increasing number of working women have fuelled the growth of frozen processed foods market over the years. Rapid urbanization and growth of organized retail sector have made frozen foods more accessible to consumers across regions. With rising health awareness, manufacturers are introducing frozen food products containing less preservatives, high protein content and whole grains to cater to evolving consumer preferences for healthy convenience options.
SWOT Analysis
Strength: The frozen processed food market offers convenience to consumers with ready-to-eat frozen meals and snacks that save time on cooking. These foods have a long shelf life and don’t go waste easily.
Weakness: Frozen foods tend to be higher in sodium, sugar and other additives compared to fresh foods. Overconsumption of frozen processed foods can lead to health issues like obesity, heart disease and diabetes in the long run.
Opportunity: Growing population of working professionals and busy lifestyles have increased the demand for convenient, time-saving food options. The market sees opportunity to launch more nutritious and healthy frozen food products.
Threats: Stricter regulations over food processing and preservatives used can adversely impact some frozen food players. Rising health-consciousness among consumers also poses a threat as it increases demand for fresh, organic and mindfully processed foods.
Key Takeaways
The global Frozen Processed Food market is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing demand for convenience foods among millennials and working families. The market size for 2023 is estimated at US$ 167115.0 Mn.
Regional analysis: North America dominates the global frozen processed food market currently due to high consumption of frozen meals, pizza and snacks. Asia Pacific is expected to grow the fastest during the forecast period due to rising incomes, westernization of diets and expanding retail infrastructure in developing countries like India and China.
Key players operating in the Frozen Processed Food market are Nestle S.A., ConAgra Foods, Inc., Kraft Foods Group, Inc., Mother Dairy Fruit & Vegetable Pvt Ltd, BRF S.A., General Mills, Inc., Maple Leaf Foods Inc., Tyson Foods, Inc., and Unilever Plc. These companies are focusing on product innovation, branding and marketing to strengthen their foothold.
