Dynamic Growth Trends in the Global Frozen Food Market

The Business Research Company's Frozen Food Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, December 4, 2023 /EINPresswire.com/ -- The global frozen food market has witnessed substantial growth, expanding from $227.01 billion in 2022 to $244.67 billion in 2023, with a noteworthy compound annual growth rate (CAGR) of 7.8%. The frozen food market is anticipated to further escalate, reaching $317.34 billion by 2027 at a consistent CAGR of 6.7%.

Economic Stability Driving Market Growth
The growth of the frozen food manufacturing market is closely tied to the stable economic forecasts in various developed and developing nations. The International Monetary Fund (IMF) reports global GDP growth at 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices and the anticipation of stable economic growth, particularly in developed economies, are expected to foster increased investments in end-user markets. This economic stability is a key driver propelling the frozen food market during the forecast period.

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Technological Advancements Enhancing Quality
Frozen food manufacturers are leveraging advanced technologies, such as Individual Quick Freezing (IQF), to enhance the yield and quality of frozen foods. The IQF method involves swiftly freezing individual food items on a conveyor belt, ensuring each piece is frozen separately, as opposed to bulk freezing. This method not only increases yield by 1.5–3% but also results in high-quality products with retained nutritional value and reduced wastage. The global IQF vegetable market is projected to reach $2 billion by 2026, highlighting the growing demand for IQF food products.

Key Market Players Shaping the Landscape
Major players influencing the dynamics of the frozen food market include Nestle S.A., Conagra Brands Inc., McCain Foods Limited, Tyson Foods Inc., Lamb Weston Holdings Inc., Nomad Foods Ltd., Nippon Suisan Kaisha Ltd., BRF S.A., The Kraft Heinz Company, and Alfa SA.B. de C.V.

Regional Dominance and Market Segmentation
In 2022, Asia-Pacific emerged as the leading region in the frozen food market, with North America following as the second-largest region. The comprehensive market segmentation encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Insights into Market Segmentation
The global frozen food market is segmented -

1) By Type: Frozen Fruit, Juice, And Vegetable, Frozen Specialty Food

2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

3) By User: Food Service Industry, Retail Users

Subsegments Covered: Frozen Fruit, Frozen Juice, Frozen Vegetables, Frozen Meals, Other Frozen Specialties

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Frozen Food Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Frozen Food Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on frozen food market size, frozen food market drivers and trends, frozen food market major players, frozen food market competitors' revenues, frozen food market positioning, and frozen food market growth across geographies. The frozen food market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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