US Frozen Food Market Size By Product, By Distribution Channel, By Geographic Scope And Forecast
Published on: 2024-08-03 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
US Frozen Food Market Size By Product, By Distribution Channel, By Geographic Scope And Forecast
US Frozen Food Market Size And Forecast
US Frozen Food Market size was valued at USD 64.04 Billion in 2023 and is projected to reach USD 84.36 Billion by 2030, growing at a CAGR of 4.7% during the forecast period 2024-2030.
The US Frozen Food Market encompasses the segment of the food industry focused on the production, distribution, and sale of various food products that have been frozen to extend their shelf life and maintain freshness. These products include frozen fruits and vegetables, prepared meals, meat and poultry, seafood, bakery items, and desserts, among others. The market serves both retail consumers and foodservice establishments, offering convenience, versatility, and nutritional value.
US Frozen Food Market Drivers
The market drivers for the US Frozen Food Market can be influenced by various factors. These may include
- Easy to Use and Time-Efficient Demand for quickly prepared frozen foods is driven by busy lifestyles and the desire for quick and simple meal options.
- Increased Product Life Because they Usually last longer on the shelf than fresh goods, frozen foods are more appealing to customers who wish to cut down on food waste and extend the shelf life of their purchases.
- Novelty in Product Offerings Consumers seeking diversity and novel tastes are drawn to frozen food products because to their constant innovation, which includes healthier options, ethnic cuisines, and gourmet selections.
- Technical Developments in Freezing Methods Advancements in freezing technology contribute to preserving the nutritional content and quality of frozen foods, increasing their consumer appeal.
- Increasing Awareness of Health The creation of healthier frozen food options that incorporate natural and organic ingredients is in line with the expanding consumer trend of health-conscious purchasing.
- E-business and Online Grocery Purchasing Since consumers can quickly order and receive frozen goods, the popularity of online grocery shopping and home delivery services is growing, which supports the expansion of the frozen food market.
- Dietary Preference Shifts The kinds of frozen foods that become popular in the market are influenced by changing
- dietary habits, such as the growing desire for plant-based and vegetarian alternatives.
- Initiatives for Marketing and Branding Sales can be increased and consumer perceptions influenced by frozen food firms through well-executed marketing campaigns and robust branding strategies.
- Impact of COVID-19 Pandemic Due to uncertainty and lockdowns, the COVID-19 pandemic has changed consumer behavior, with more people stockpiling frozen items. The long-term effects could, however, differ.
- Cultural Diversity and Globalization The provision of a varied assortment of frozen foods that embody different international cuisines caters to the tastes of a multicultural customer base.
US Frozen Food Market Restraints
Several factors can act as restraints or challenges for the US Frozen Food Market. These may include
- Perception of Freshness Compared to frozen food, consumers may believe that fresh food is healthier or of higher quality. Overcoming this perceptual barrier may put the frozen food business under pressure.
- Health Concerns The additives and nutritional value of frozen food may worry some customer’s. For the industry to flourish, these health-related issues must be addressed.
- Storage and Freezer Space A home’s limited freezer space may limit the quantity of frozen food that a customer can buy. A market constraint may be the absence of adequate freezer facilities or smaller dwelling areas.
- Preference for Natural and Fresh Foods The market expansion for frozen foods may be impeded by the increasing inclination towards natural and minimally processed goods. Fresh vegetables and organic selections may be preferred by consumers over frozen ones.
- Perception of Taste and Quality It might be difficult to maintain a constant level of taste and quality in frozen meals. Demand for frozen food may be impacted if customers believe that frozen food is less tasty or more cohesive than fresh options.
- Difficulties in Logistics and Distribution Effective networks for logistics and distribution are critical to the frozen food sector. The market may be impacted by any breaks in the cold chain or challenges in keeping the necessary temperature throughout transit.
- Environmental Concerns As consumers become more conscious of environmental issues, they may start to doubt the sustainability of the frozen food industry’s manufacturing and packaging techniques.
- Competition from Fresh Food Alternatives The frozen food market is facing competition as fresh food options become more accessible. Fresh options may be preferred by customers over frozen ones.
- Price Sensitivity Consumer purchasing behavior can be influenced by economic reasons. The perception of frozen food pricing as being higher than those of fresh alternatives could have an effect on market expansion.
- Innovation Challenges To adapt to shifting consumer tastes, the frozen food industry must constantly innovate. For certain businesses, it can be difficult to introduce novel items and adjust to emerging trends.
US Frozen Food Market Segmentation Analysis
US Frozen Food Market is Segmented on the basis of Product, Distribution Channel, And Geography.
US Frozen Food Market, By Product
- Frozen Fruits & Vegetables This segment includes frozen berries, broccoli, peas, and other fruits and vegetables. It is a popular choice for convenience and affordability.
- Frozen Meat & Seafood This segment includes frozen chicken, fish, beef, and other meat and seafood products. It offers longer shelf life compared to fresh options.
- Frozen Snacks & Bakery This segment includes frozen pizza, appetizers, desserts, and breakfast pastries. It caters to consumers seeking convenient and indulgent options.
- Frozen Ready Meals This segment includes frozen dinners, bowls, and entrees. It offers quick and easy meal solutions for busy families and individuals.
- Other Frozen Foods This segment includes frozen potatoes, pet food, and other various frozen items.
US Frozen Food Market, By Distribution Channel
- Supermarkets/Hypermarkets This is the largest distribution channel for frozen food, offering a wide variety of products at competitive prices.
- Convenience Stores These stores provide convenient access to frozen snacks and ready meals for on-the-go consumers.
- Online Retail Online grocery platforms are gaining popularity for frozen food purchases, offering home delivery and wider product selection.
- Specialty Stores Some stores specialize in specific frozen food categories, such as natural or organic brands, ethnic cuisine, or seafood.
US Frozen Food Market, By Geography
- North America Market conditions and demand in the United States, Canada, and Mexico.
- Europe Analysis of the Health Care Credentialing Software Market in European countries.
- Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
- Middle East and Africa Examining market dynamics in the Middle East and African regions.
- Latin America Covering market trends and developments in countries across Latin America.
Key Players
The major players in the US Frozen Food Market are
- Nestle
- Conagra Brands
- General Mills
- Tyson Foods
- Kellogg Company
- Ajinomoto Co., Inc.
- McCain Foods
- The Kraft Heinz Company
- Amy’s Kitchen
- H.J. Heinz Company (now part of Kraft Heinz)
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2020-2030 |
BASE YEAR | 2023 |
FORECAST PERIOD | 2024-2030 |
HISTORICAL PERIOD | 2020-2022 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Nestle, Conagra Brands, General Mills, Tyson Foods, Kellogg Company, McCain Foods, The Kraft Heinz Company, Amy’s Kitchen, H.J. Heinz Company (now part of Kraft Heinz) |
SEGMENTS COVERED | By Product, By Distribution Channel, And By Geography |
CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Conclusion
In conclusion, the US Frozen Food Market is witnessing robust growth driven by several key factors. The increasing demand for convenient and time-saving food options, coupled with changing consumer lifestyles and dietary preferences, is fueling market expansion. Frozen food products offer consumers a wide variety of choices, allowing for easy meal preparation and minimizing food waste. Moreover, advancements in freezing technologies and packaging innovations have improved the quality and nutritional value of frozen foods, further driving market growth. However, challenges such as competition from fresh food alternatives, concerns regarding additives and preservatives, and fluctuating consumer demand patterns may pose constraints on market progression. Nonetheless, with the ongoing trend of online grocery shopping, expansion of distribution channels, and introduction of new product offerings catering to health-conscious consumers, the US Frozen Food Market is poised for continued growth in the foreseeable future.
Research Methodology of Market Research
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
Customization of the Report
• In case of any please connect with our sales team, who will ensure that your requirements are met.