Meticulous Research® has published an insightful report titled, “Frozen Food Market Size, Share, Forecast, & Trends Analysis.” The global frozen food market is projected to reach $447.79 billion by 2031, growing at a 5.5% CAGR due to factors such as rising demand for convenience meals and the developing cold-chain sector. Changing consumer preferences also contribute to market growth, although there are challenges, including a growing inclination towards fresh foods and the requirement for consistent temperature control.
Key players in this sector include General Mills, Nestlé, Unilever, and Tyson Foods, among others. The market is categorized by product types—such as ready meals, meat & poultry, seafood, dairy products, and bakery items—as well as by type (raw, half-cooked, ready-to-eat) and distribution channels (B2B and B2C).
The ready meals segment is expected to hold the largest market share at 32.1% in 2024, driven by a fast-paced lifestyle and growing popularity among younger consumers. Conversely, the seafood category is projected to witness the highest CAGR during the forecast period, driven by increased protein consumption and advancements in aquaculture.
In terms of distribution, the B2B segment is anticipated to dominate, accounting for 52.7% of the market share, largely due to the rise of quick-service restaurants. However, the B2C segment is expected to grow at a faster rate, fueled by urbanization and the rise of online shopping.
Geographically, Europe is expected to hold the largest market share, while the Asia-Pacific region is poised for the highest growth rate, driven by increasing investments in retail and expanding cold-chain facilities.
