Frozen Meals Market Size, Share & Industry Analysis, By Product Type (Chilled Ready Meals, Frozen Ready Meals, Salads, Other Product Types ), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Specialty Retail Stores, Online Retail Stores , Others) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
The frozen meals market is witnessing significant traction in the global marketplace due to the shifting preference of consumers towards convenient and ready-to-eat food products. As frozen meals are stored, the nutritional content in the food, such as carbohydrate, protein, and fat content, does not undergo major changes compared to fresh meals.
The rising working-class population coupled with the increasing number of college graduates looking for convenient and ready-to-eat meals have increased the consumer's dependence on prepacked meals that are frozen and easily available. Consumer preferences in recent years have also aligned towards products that have higher shelf life such as frozen meals. These are some key factors that are responsible for contributing to the growth of the frozen meals market globally.
The increasing consumer inclination towards pre-packaged and ready-to-eat food due to convenience acts as one of the major influences towards the increasing demand for frozen meals and acts as a major factor expected to boost the demand of the global frozen meals market.
Lack of cold chain logistics is one of the vital requirements for storing meals and thus acts as one of the major restraining factors that is expected to affect the growth of the target market negatively.
Key Market Driver -
Rising Consumer Preferences Towards Convenient and Ready-To-Eat Food Products
Key Market Restraint -
Lack of Cold Chain Infrastructure
Key Players Covered:
The key players of global Frozen Meals Market are Bellisio Foods Inc., Wawona Frozen Foods, Jeanie Marshall Foods, Inn Foods, ConAgra Foods Inc., McCain Foods, General Mills, Inc., ITC, Rich Products Corporation, Imperial Frozen Foods, Smart Price Sales, Quirch Foods Company, Goya Foods, Nestlé S.A., Heinz Frozen Food Company.
Freezing of food products helps increase the life span of the food and thus reduce food waste. It thus helps the consumers to reduce the cost associated with food wastage. Furthermore, as the meals are frozen at optimum temperature, the vitamin and mineral content in these foods are similar and sometimes higher than the fresh foods. As there is an increasing demand for convenience food where the consumers don’t ned to cook food from scratch, frozen food provides the optimum option to the consumers that suit their busy and hectic lifestyle
The plastic is the most preferred packaging variant due to its ease of transportation and durability as the paper and glass packaging material possess a risk of getting torn or getting broke easily.
The specialty stores and brick and mortar enable the consumers easier access to the products than online stores due to the availability of numerous products in their shelves and better cold chain logistics. The ease of choosing from a diverse range of product line along with attractive offers and improved buying experience makes them the most chosen option among the others.
Regional Analysis:
Europe is witnessing significant growth in the frozen meals market owing to consumers increasing preferences towards convenient food products.
Asia Pacific region is anticipated to witness substantial growth in the foreseeable future due to the growing adoption of ready-to-eat products. The developing economies such as India and China are witnessing a rise in the consumers’ disposable income, subsequently allowing them to spend more on packaged goods. The increasingly hectic lifestyles is expected to positively affect the growth of the frozen meals market in this region.
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Segmentation
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Key Industry Developments
- In May 2021, Monogram Foods, a Memphis Based Company started an expansion of production activities by launching a new construction facility in Massachusttes. This new production facility includes a 109,000 square feet of multi-temperature warehouse or storing meat products such as hot dogs, sausages, beef jerky and bacon and others.
- Ongoing
- 2023
- 2019-2022
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