According to Facts and Factors researchers, the global frozen food manufacturing market was valued at over USD 304 Billion in the year 2020 and is projected to reach USD 389.2 Billion by the end of 2026, with a CAGR of around 4.2% between 2021 and 2026.
Frozen food is preserved by freezing and storing it before it is cooked. Due to rising consumer demand, it has a significant market. The freezing method preserves the food’s original state until it is consumed. There are two types of freezing processes used in this industry: mechanical and cryogenic. The freezing process is necessary to protect the product’s quality and outside surface. The food’s original cell structure is preserved thanks to the quick freezing. Because it maintains a low fluid nitrogen temperature of roughly -196 degrees Celsius, cryogenic freezing is one of the fastest procedures. The nutritional value of frozen food is one of the reasons for its widespread popularity among customers. This product does not require any further chemicals because microorganisms do not grow at temperatures below 9.5 °C (15 °F), which is sufficient for preventing deterioration. When contrast to packaged meals, there are fewer misconceptions regarding frozen food. Instead of frozen meals, preservatives are found in packaged goods, which are hazardous to one’s health. Another common misunderstanding is that freezing removes nutrients, which is modern-day fiction. The freezing process serves to cover the food’s outer structure, which helps to keep its nutrients.
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The outlook for the frozen food business has never been more promising. With increasing knowledge of food trends, customers are turning to home cooking to prepare fresh, preservative-free meals. They need frozen foods for this, which come in a variety of categories these days, including dairy-free, vegan, gluten-free, sugar-free, low-fat, and so on. The availability of high-quality frozen foods facilitates market expansion and reduces the risk of negative fluctuations. Recent technological advancements have created cryogenic freezing, which eliminates the need for artificial preservatives while retaining little microbial growth.
On a global scale, the growing relevance of Ready-to-Eat (RTE) food products as a result of hectic lives among working-class individuals are predicted to grow the industry growth in the coming years. Furthermore, rising consumer expenditure on shelf-stable foods is expected to boost the frozen food market shortly. Rising disposable income, the advent of longer shelf-life products, more impulse spending, and high demand for frozen food goods due to a lack of time are all driving the industry.
Companies are using an improved supply chain management system to ensure that the frozen food business continues to grow without being hampered by food waste. Reefer trucks are being utilized to ensure that frozen meals are kept in the best possible condition. These vehicles are now equipped with third-party GPS systems to ensure on-time delivery. As a result of this primary market disruption, the frozen food market is growing in a good way.
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Top Market Players
Major players operative in the frozen food manufacturing market is General Mills Inc, Conagra Brands, Inc., Grupo Bimbo S.A.B. de C.V., Nestle SA, Unilever, Kellogg Company, McCain Foods Limited, Kraft Heinz Company (US), Associated British Foods plc, Ajinomoto, Vandemoortele NV, Lantmannen Unibake International, Cargill, Europastry S.A., JBS, Kidfresh, Aryzta, Kuppies, OOB Organics, Omar International Pvt Ltd, Bubba Foods, Shishi He Deming, Chevon Agrotech Pvt Ltd, and Omar International Pvt Ltd., among others.
IQF stands for “individually quick frozen,” which means that each item in a frozen food packet is frozen separately rather than as a block. Every piece of food is sent through a blast freezer on a conveyor belt in this approach. This ensures that the food stays fresh even after it has been thawed. When frozen using the IQF process and packed in a carton, lidded tray, or crystalline PET plate, a volume of peas, for example, would sell faster due to its freshness than when frozen using the usual refrigerant approach.
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Market Dynamics
On a global scale, the growing relevance of Ready-to-Eat (RTE) food products as a result of hectic lives among working-class individuals are predicted to grow the industry growth in the coming years. Furthermore, rising consumer expenditure on shelf-stable foods is expected to boost the frozen food market shortly. Rising disposable income, the advent of longer shelf-life products, more impulse spending, and high demand for frozen food goods due to a lack of time are all driving the industry. Millennials, unlike previous generations, are willing to try new ideas and invest in them. They also like to choose things that save them time and are simple to use. Frozen foods are growing in popularity because they are easy and ready to eat, which is exactly what millennials want. This generation, which is buried in student debt and underpaid work, relies heavily on the frozen food market to meet its nutritional requirements.
Europe is projected to Dominate Global Frozen Food Manufacturing Market Growth
The highest market share inside the market was indeed held by Europe. The demand at all for frozen food in the region is being driven by population expansion, rapid urbanization, and increased market knowledge of the whole benefits of frozen food. In 2020, Europe was the most important market, accounting for the largest share. Because it is home to multiple foods and local bakery businesses, Europe has been one of the most lucrative markets for frozen food. Furthermore, these market people are increasingly working to expand their market share through effective research and development and product innovation. In addition, businesses are forming strategic alliances with one another to use each other’s strengths and outperform their competitors. Aryzta, for example, has maintained its dominance in the high-end frozen bakery sector thanks to its efficient operational excellence and research and development capabilities.
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