Press Release

The global frozen food market revenue surpassed US$ 450.1 billion in 2024 and is predicted to attain around US$ 722.5 billion by 2033, growing at a CAGR of 5.4% during the forecast period from 2025 to 2033. This growth can be linked to several factors, such as the rising trend of young people moving to urban centers and living on their own, the digitization of the food and beverage retail sector, and continuous improvements in cold chain logistics.

As urbanization and changing lifestyles take hold, there is a heightened focus on convenience and nutrition among consumers, especially within the younger population and working professionals. This transformation has resulted in a thriving market for frozen foods, which provide both ease of preparation and nutritional advantages.

Frozen Food Market Key Takeaways

• The frozen food market is projected to reach a remarkable US$ 722.5 billion by 2033, growing at a CAGR of 5.4% during the forecast period.
• Europe and North America are recognized as the primary regions driving this trend. Meanwhile, Asia and South America are emerging as promising markets, indicating a shift in consumer preferences and increasing demand for frozen food products in these areas.
• Among the various product categories, the ready-meals segment continues to be a significant driver of growth within the frozen food market. This segment remains the most dominant, capturing over 29.6% of the market share. The increasing demand for vegetarian and vegan meals is expected to propel the expansion of this market segment, reflecting changing dietary preferences and a growing focus on health and wellness among consumers.
• As of 2023, retail channels have regained their position as the leading distribution method for frozen food products, particularly through supermarkets and hypermarkets. These retail formats account for a substantial 68.7% market share. Their dominance can be attributed to their significant economies of scale and the wide variety of products they offer, catering to the diverse needs of their customers. This robust distribution network plays a crucial role in facilitating access to frozen food options, making it easier for consumers to incorporate these products into their daily meals.

Asia Pacific to Lead the Global Frozen Food Market

The Asia Pacific region has firmly established itself as a powerhouse in the frozen food market, capturing over 38% of the global market share. This remarkable dominance can be largely attributed to the growth of the middle class and the continuous rise in incomes across the region. As more individuals transition into urban areas, the demand for quick and convenient food options has surged, reflecting a significant shift in consumer preferences. This transition is further compounded by the decline of rural populations, as urban dwellers increasingly seek solutions that fit their fast-paced lifestyles.

A recent report highlighted that urban areas in China alone purchased more than 30 million tons of frozen food in 2023. This staggering figure underscores the growing reliance on frozen food as a staple in the diets of many city residents. The convenience offered by frozen meals allows consumers to save time while still enjoying a variety of culinary options. As urban centers expand, the demand for these products is expected to rise even further.

Japan has also played a pivotal role in the region's frozen food growth, actively participating in the trend with the introduction of the Ashitamo brand. This brand specializes in offering an array of steamed dishes, including popular items such as Chuka, fried noodles, and pies. Launched exclusively throughout 2023, Ashitamo caters to the increasing consumer preference for quick yet flavorful meal options, further solidifying Japan’s position in the market.

Market Overview

Frozen food refers to items preserved by freezing them to temperatures below their freezing point, typically around 0°F (-18°C). This method has become an integral part of modern diets and lifestyles, providing both convenience and variety in meal preparation. 

As of 2024, the global frozen food market continues to expand across continents, driven by consumers' ongoing desire for convenient meal options that maintain taste and nutrition. Recent industry reports indicate that over thirty new freezing technologies have been developed in the past year to enhance product freshness.

Stakeholders highlight that the integration of smart technology and data analytics into the supply chain is transforming the frozen food sector. With advancements in AI and smart manufacturing, new technologies are making significant contributions at various points in the supply chain.

One notable innovation is the use of fully GPS-tracked vehicles, which not only optimize drivers' routes but also monitor real-time data on product temperature. This capability is crucial for the frozen food industry, ensuring sensory quality and food safety are maintained throughout the supply chain.

Frozen Food Market Growth Factors

• Consumer Preference:  A strong consumer preference for ready-to-cook convenience is significantly elevating product demand on a global scale.
• Technological Advancements: Innovations in freezing methods enhance shelf life and flavor, making frozen products more appealing to consumers.
• Distribution Networks: Expanding distribution networks improve global availability, effectively catering to the diverse lifestyle needs of consumers.
• Health-Focused Formulations: The emphasis on clean labels in health-focused formulations is attracting increasingly health-conscious consumer segments worldwide.
• Plant-Based Offerings: The rise of plant-based frozen products aligns with changing dietary preferences and a growing focus on sustainability.
• Premium Products: The emergence of premium frozen items highlights their gourmet appeal, bridging the gap between convenience and elevated culinary experiences.

Market Dynamics

Driver

Increasing Employment 

The rise in global employment is significantly driving growth in the frozen food market. As more individuals join the workforce, they often have less time to prepare meals from scratch, creating a demand for quick, convenient, and reliable meal options. According to the U.S. Bureau of Labor, 61% of American families were dual-income households in 2023, highlighting the busy schedules families face today.

Frozen food products cater to these needs by providing a diverse range of ready-to-eat meals and easy-to-prepare options that require minimal effort. Furthermore, increased employment translates to greater purchasing power, allowing consumers to invest in higher-quality and convenient meal solutions.

As a result, with rising employment levels, frozen food has emerged as an appealing choice for individuals and families seeking to save time while maintaining meal variety and nutritional value.

Restraint

Health Perceptions

Perceptions about human health present a significant barrier to the growth of the frozen food market, as consumers increasingly favor fresh and organic options. A 2023 survey conducted by the International Food Information Council revealed that 80% of respondents consider fresh food to be healthier than frozen alternatives.

These trends are impacting sales across the frozen food market, particularly in categories perceived as the unhealthiest. A recent report indicated a decline in sales of frozen pre-prepared meals that contain high levels of preservatives and additives.

Additionally, the rising competition from fresh meal kit delivery services has intensified the market landscape, offering consumers access to fresh ingredients and a variety of endless combinations.

Trends

Integrated Cuisine Diversification 

A significant trend shaping the frozen food market is the global integration of cuisine diversification, as consumers increasingly seek to explore new culinary experiences. This growth is driven by a desire for homogenization and a curiosity to understand diverse ethnic cuisines through food.

In Western markets, cuisines such as Indian, Japanese, Mexican, and Mediterranean have gained notable popularity. As a result, manufacturers are expanding their range of frozen meals to include a wider array of international cuisine-inspired options.

This trend is further supported by the rise of multicultural societies, particularly in countries like Canada and Australia, where immigrants constitute over 20% of the population. This demographic shift has created a larger market for authentic frozen ethnic foods, catering to diverse tastes and preferences.

Recent Developments

• In January 2025, McCain Foods United Kingdom transformed the frozen food aisle with an innovative potato snack that beautifully merges the crispiness of a crisp with the fluffiness of a fry. This exciting creation provides a fresh perspective on potato snacks, expertly crafted to deliver an irresistible texture and flavor experience.
• In January 2025, Allana Consumer Products (ACPL) proudly announces its strategic entry into the frozen food segment with the launch of premium-quality French Fries. This initiative reflects ACPL's dedication to diversifying its portfolio and capturing a significant share of the rapidly growing global frozen food market.
• In January 2025, HyFun Foods, a prominent exporter of frozen potato products from India, enhanced its international footprint through a significant partnership with Woolworths, Australia’s largest retail chain. This collaboration, initially valued at over Rs 25 crore (US$ 289 million) for 2025, has successfully introduced HyFun's premium frozen potato products to more than 1,000 Woolworths stores.

Top Players in the Frozen Food Market

• Ajinomoto Co., Inc.
• Associated British Foods PLC
• CJ Foods
• ConAgra Brands, Inc.
• General Mills Inc.
• Grupo Bimbo S.A.B. De C.V
• Grupo Bimbo
• Kellogg Company
• Lantmannen Unibake International
• Maruha Nichiro Holding Inc.
• Mccain Foods Limited
• Nestle SA
• NH Foods Ltd.
• Nichirei Corporation
• Nippon Suisan
• The Kraft Heinz Company
• Tyson Foods, Inc.
• Unilever
• Other Prominent Players

Market Segmentation Overview

By Product Type

• Fruits
• Seasonal
• Regular
• Vegetables
• Peas
• Corn
• Potatoes
• Others
• Dairy Products
• Milk
• Butter
• Cheese
• Others
• Meat & Poultry
• Red Meat
• Pork Meat
• Poultry Meat
• Seafood
• Bakery Products
• Bread
• Pizza Crust
• Cakes & Pastries
• Others
• Soups
• Ready Meals
• Dumplings
• Rice-based
• Italian (Pastas)
• Indian
• Korean
• Chinese
• Others
• Others

By Distribution Channel

• Retail
• Online
• Supermarket/ Hypermarket
• Convenience Stores/ Standalone Stores
• Enterprise Sale (B2B)
• HoReCa (Hotel, Restaurants, Café) – Food Service
• Travel (Railway/ Airline/ Others)
• Educational Institutes
• Food Processing Industry

By Geography

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa (MEA)

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