The global frozen food market is expected to expand at a CAGR of 4.5% and will be worth USD 377.3 Bn by 2023. The main factor driving the market is the change in population composition and the change in lifestyle. The proportion of millennials in the population has increased considerably in the recent past. They are starting to consider frozen food as a viable alternative because it is more convenient to use and befits their busy schedule. Additionally, restaurants and fast food chains have also increased the usage of frozen food to make their offerings more cost effective.
Segmentation based on product
The various frozen food products available in the market are meals, fruits and vegetables, meat and seafood, and snacks, among others. The frozen meal market is expected to have the highest global revenue generation of USD 149.9 Bn by 2023 growing at a CAGR of 4.2%. The frozen meat and seafood market is expected to be the second-largest market segment having a global revenue of USD 120.3 Bn by 2023 and CAGR of 3.3%. The growth can be attributed to convenience, availability of various cuisine options and the change of perception of people towards frozen food. Moreover, due to hectic lifestyle, time available for home cooking and grocery shopping is expected to witness a decline. These factors will also contribute heavily to the growth of the market.
Regional insights
North America is the leading contributor to the global frozen food market. The North American frozen food market is projected to expand at a CAGR of 3.4% during 2018-2023, leading to a regional revenue of USD 183.4 Bn by 2023. However, the Asia-Pacific (APAC) region is anticipated to expand at the highest CAGR of 7.3% between 2018 and 2023. The growth can be attributed to increase in per capita income and rapid urbanization. In the LATAM frozen food market, Brazil, Argentina and Mexico are the key contributing countries. In the MEA frozen food market, Saudi Arabia and the United Arab Emirates are the key contributors.
Companies Covered
• Cargill
• Nestle
• JBS
• Tyson
• Kraft Heinz
• General Mills
• Ajinomoto
• BRF
• Conagra
Chapter 1. Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered
1.3. Executive summary
Chapter 2. Global frozen food market - overview
2.1. Market definitions
2.2. Market overview
- Global market revenue (USD Bn)
- Global market revenue 2015 - 2023 (USD Bn)
- Geography-wise market revenue 2018, 2023 (USD Bn)
2.3. Global market trends
2.4. Global drivers
2.5. Global market challenges
Chapter 3. Global frozen food market - based on product
3.1. Global frozen food market overview - based on product
3.2. Fruits and vegetables
- Market overview
- Forecasted market segment revenue 2018, 2023 (USD Bn)
3.3. Meals
- Market overview
- Forecasted market segment revenue 2018, 2023 (USD Bn)
3.4. Meat and seafood
- Market overview
- Forecasted market segment revenue 2018, 2023 (USD Bn)
3.5. Snacks
- Market overview
- Forecasted market segment revenue 2018, 2023 (USD Bn)
3.6. Others
- Market overview
- Forecasted market segment revenue 2018, 2023 (USD Bn)
Chapter 4. North America frozen food market
4.1. Overview
- Historical Revenue (2015 - 2017) (USD Bn)
- Forecasted market revenue (2018 - 2023) (USD Bn)
4.2. Trends
4.3. Drivers and challenges
4.4. North America frozen food market based on products (fruits and vegetables, meal, meat and seafood, snacks, and others) - key market observations
Chapter 5. Europe frozen food market
5.1. Overview
- Historical Revenue (2015 - 2017) (USD Bn)
- Forecasted market revenue (2018 - 2023) (USD Bn)
5.2. Trends
5.3. Drivers and challenges
5.4. Europe frozen food market based on products (fruits and vegetables, meal, meat and seafood, snacks, and others) - key market observations
Chapter 6. Asia-Pacific frozen food market
6.1. Overview
- Historical Revenue (2015 - 2017) (USD Bn)
- Forecasted market revenue (2018 - 2023) (USD Bn)
6.2. Trends
6.3. Drivers and challenges
6.4. Asia-Pacific frozen food market based on products (fruits and vegetables, meal, meat and seafood, snacks, and others) - key market observations
Chapter 7. Latin America frozen food market
7.1. Overview
- Historical Revenue (2015 - 2017) (USD Bn)
- Forecasted market revenue (2018 - 2023) (USD Bn)
7.2. Trends
7.3. Drivers and challenges
7.4. Latin America frozen food market based on products (fruits and vegetables, meal, meat and seafood, snacks, and others) - key market observations
Chapter 8. The Middle East & Africa frozen food market
8.1. The Middle East and Africa Market overview
- Historical Revenue (2015 - 2017) (USD Bn)
- Forecasted market revenue (2018 - 2023) (USD Bn)
8.2. Trends
8.3. Drivers and challenges
8.4. The Middle East and Africa frozen food market based on products (fruits and vegetables, meal, meat and seafood, snacks, and others) - key market observations
Chapter 9. Competitive landscape
9.1. Cargill
9.1.a. Company snapshot
9.1.b. Product offerings
9.1.c. Growth strategies
9.1.d. Initiatives
9.1.e. Geographical presence
9.1.f. Key numbers
Note: Similar information areas will be covered for the remaining competitors
9.2. Nestle
9.3. JBS
9.4. Tyson
9.5. Kraft Heinz
9.6. WH Group
9.7. General Mills
9.8. Ajinomoto
9.9. BRF
9.10. Conagra
Chapter 10. Conclusion
10.1. Conclusion
Chapter 11. Conclusion
Appendix
11.1 List of tables
11.2 Research Methodology
11.3 Assumptions
11.4 About Research on Global Markets
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