The U.S. frozen food market is expected to reach USD 84.58 billion by 2030, registering a CAGR of 4.7% during the forecast period 2022 to 2030 according to a new report by Grand View Research, Inc. Growth in the number of the millennial opting for the convenience foods is giving rise to the acceptance of frozen food in the U.S. These foods do not require any preservatives as microorganism do not grow when the temperature is low. Hence, making it a good option for the eatable between consumers.
Major food manufacturers have been ramping up their production capacity due to increased demand for frozen foods among consumers owing to safety and hygiene concerns. These products are packed well in containers, boxes, and bags hence making them a safe option for consumption. According to an article published in Food Dive, April 2020, four categories of frozen food section witnessed unprecedented growth including frozen meat (101%), frozen snacks (82.3%), and frozen beverages (94.6%) due to their convenience to cook as most of the restaurants were shut down during the pandemic due to safety protocols in the country.
Ready meals held the largest segment in 2021 and are expected to maintain dominance during the forecast period. The frozen ready meal is often consumed with little or no further processing except reheating, hence convenient to cook. Furthermore, these products are also high in nutritional value and flavor, since crops are harvested at the height of freshness and frozen quickly to seal in nutrients and taste. According to Food Dive April 2020, 7 out of 10 consumers in the country are buying more frozen ready-made food including meal bowls, and pizza.
The offline segment contributed a majority of the share to become a larger division in the global revenue in 2021. Many offline stores including convenience stores and supermarkets have freezing and temperature-controlled facilities, which is driving the growth of offline distribution channels. Additionally, the increasing penetration of independent retail giants such as Wal-Mart, and Costco among others, is boosting product visibility and attracting a larger consumer base. For instance, Banquet, a frozen food brand is all seasons available at Wal-Mart in the U.S. The U.S. frozen food market is highly fragmented with the presence of a large number of regional and local players.
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Frozen baked products are projected to register the fastest growth due to their high nutritional value, all-season availability, and competitive pricing. These are the factors credited for this growth
Online channel is anticipated to register the fastest growth during the forecast years owing to promising growth exhibited by e-commerce platforms, including Amazon, Wal-Mart, and other such service providers
Grand View Research has segmented the U.S. frozen food market based on the product, and distribution channel.
U.S. Frozen Food Product Outlook (Revenue, USD Million; 2017 - 2030)
Frozen Fruits & Vegetables
Frozen Baked Products
Meat & Seafood Products
U.S. Frozen Food Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)
List Of Key Players in the U.S. Frozen Food Market
Kraft Heinz Company
General Mills, Inc.
ConAgra Foods, Inc.
Ajinomoto Co., Inc.
Nomad Foods Ltd.
Wawona Frozen Foods
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