Global Frozen Food Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Global Frozen Food Market Growth

As per the German Frozen Food Institute, the per capita frozen food consumption in Germany is 46.3 kg. This category continues to gain market traction, as consumers perceive them as an essential part of fulfilling their daily nutritional intake. In Europe, per capita consumption of frozen bakery products is the highest (11kg), followed by vegetables (6.2 kg), meat and potatoes (5.5 kg each), ready meals (5.7 kg), frozen pizza (4.2 kg), fishes (3.7 kg), and snacks (3.3 kg). The rising consumption of frozen food items has increased frozen food market value in Europe.

Moreover, the proliferation of fast-food chains has led to the emergence of convenience culture, where younger generations of consumers have shifted towards quick and efficient meal solutions. This has increased the demand for frozen foods in South Africa. As per industry reports, South Africa’s population is expected to reach 74 million people by 2050, and the rate of urbanisation is expected to rise to 85%. This is expected to increase the overall demand for frozen food products in the Middle East and Africa region substantially, thereby leading to growth of the frozen food market.

Key Trends and Developments

Global Frozen Food Market Trends

To achieve Sustainable Development Goal 12.3, the European Commission has revised its Waste Framework Directive and made it binding for member states to achieve food waste reduction targets by 2030. This includes 10% reduction in food production and processing waste, and a 30% per capita reduction in consumption waste at restaurants, households, and food service providers. As around 80 billion tons of food waste worth EUR 413.61 billion is generated annually across the world, these measures are expected to favourably shape the frozen food market outlook.

Global Frozen Food Industry Segmentation

Global Frozen Food Market Share

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the Asia Pacific is expected to grow at a CAGR of 7.9% due to the growth of fast-food chains leading to an increase in the demand for quick and efficient meal options. Moreover, the revenue of the market is expected to be bolster due to the increasing demand for frozen snacking products and the shift towards healthier foods.

Leading Companies in the Global Frozen Food Market

Major players are introducing plant-based food products, such as frozen meat and milk to gain a larger frozen food market share.

Unilever PLC

Unilever PLC was founded in 1872 and is headquartered in London, United Kingdom. It produces FMCG products such as soaps, household cleaning products, razors, creams, and food items. It is renowned for brands like Lipton, Dove, Knor, and Axe, among others worldwide.

Conagra Brands Inc.

Conagra Brands Inc. was founded in 1919 and is headquartered in Illinois, United States. It is engaged in prov...

McCain Foods Limited

McCain Foods Limited was founded in 1957 and is headquartered in Ontario, Canada. It is engaged in sustainable...

Ajinomoto Co. Inc.

Ajinomoto Co. Inc. was founded in 1908 and is headquartered in Tokyo, Japan. Guided by the principle of “Eat...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other players included in the frozen food market report are Nestlé S.A., Tyson Foods Inc., General Mills, Inc, Nomad Foods Ltd., Wawona Frozen Foods, Inc., and Grupo Nutresa S. A., among others.