The Latest Frozen Foods Industry Statistics Explained
The global frozen food market size was valued at USD 291.3 billion in 2019.
The statistic stating that the global frozen food market was valued at USD 291.3 billion in 2019 signifies the total monetary worth of all frozen food products sold worldwide during that year. This figure reflects the significant scale and economic importance of the frozen food industry on a global level. The value of the market serves as a key metric for understanding the demand and consumption patterns of frozen food products across various regions, highlighting the widespread popularity and growth potential of this sector. Additionally, the statistic implies that frozen food products have become essential items in the modern food industry, catering to diverse consumer preferences and lifestyle needs.
The frozen food market is expected to grow at a CAGR of 5.0% from 2020 to 2027 to reach USD 376.95 billion by 2027.
This statistic indicates that the frozen food market is projected to experience a Compound Annual Growth Rate (CAGR) of 5.0% from the year 2020 to 2027, resulting in a market size of USD 376.95 billion by 2027. The CAGR represents the average annual growth rate over the specified time period. In this case, the forecasted growth rate suggests a steady and consistent expansion of the frozen food market in the coming years, driven by factors such as changing consumer preferences, convenience, and advancements in food processing technologies. The estimated market size of USD 376.95 billion by 2027 reflects the anticipated market value if this growth trend continues as predicted.
In the UK, frozen food sales rose by 13.3% in 2020.
The statistic “In the UK, frozen food sales rose by 13.3% in 2020” indicates a significant increase in the sales of frozen food products within the UK market during the year 2020. This growth of 13.3% suggests a notable shift in consumer behavior, possibly driven by factors such as the COVID-19 pandemic leading to increased at-home dining and stockpiling of food items. The surge in frozen food sales could also be attributed to its convenience, longer shelf life, and perceived safety during uncertain times. This statistic underscores the resilience and adaptability of the frozen food sector in responding to changing market dynamics and consumer preferences.
The average U.S. family spends $50.10 on frozen meals per year.
The statistic “The average U.S. family spends $50.10 on frozen meals per year” describes the mean amount of money that an average American household allocates towards purchasing frozen meals in a one-year period. This statistic provides insight into consumer behaviors and spending patterns related to convenience food choices. By calculating the average expenditure on frozen meals, we can understand the importance of convenience, time constraints, and dietary preferences in the American household budget. This figure might also indicate the popularity and accessibility of frozen meals as a quick meal option for busy families looking for convenient and affordable food choices.
Approximately 43% of U.S. households consume frozen dinners regularly.
The statistic stating that approximately 43% of U.S. households consume frozen dinners regularly indicates that a significant portion of the population relies on frozen meals as a convenient and quick food option. This statistic reflects the popularity and convenience of frozen dinners as a meal solution, potentially due to busy lifestyles, time constraints, or a preference for easy meal preparation. Understanding the extent of frozen dinner consumption can provide insights for food retailers, manufacturers, and policymakers in understanding consumer behavior and preferences related to food choices and meal preparation habits in the United States.
Europe dominated the industry with over 35.0% share of the total revenue in 2019.
The statistic indicates that Europe had a significant impact on the industry in 2019, accounting for over 35.0% of the total revenue generated within the sector. This suggests that Europe held a dominant position in terms of market share compared to other regions or countries. The high percentage share reflects the strong presence and influence of European businesses and industries within the sector, indicating that they were able to capture a substantial portion of the market revenue in 2019. This statistic underscores the importance and contribution of Europe to the industry’s overall performance and highlights the region’s key role in driving economic activity and growth within the sector during that period.
Ice cream and frozen desserts held the largest market share in the frozen foods section, at 22.97% in 2021.
The statistic that ice cream and frozen desserts held the largest market share in the frozen foods section, at 22.97% in 2021, indicates that within the frozen foods market, this particular category is the most popular among consumers. This high market share suggests that there is a strong demand for ice cream and frozen desserts compared to other frozen food products. This could be attributed to the widespread popularity and appeal of ice cream as a treat or dessert option, as well as the variety of flavors and options available in this category. Additionally, factors such as convenience, affordability, and the indulgent nature of ice cream may contribute to its leading position in the frozen foods market.
The Asia Pacific is likely to experience the highest growth rate in the frozen foods industry, projected to reach CAGR of 6.3% from 2020 to 2027.
The statistic indicates that the Asia Pacific region is expected to see significant growth in the frozen foods industry, with a projected Compound Annual Growth Rate (CAGR) of 6.3% between 2020 and 2027. This suggests that the demand for frozen foods is likely to increase at a steady pace over this period in the Asia Pacific market. Factors such as changing consumer preferences, urbanization, and increasing disposable income levels in the region may be driving this growth trend. Companies operating in the frozen foods industry should consider expanding their presence in the Asia Pacific market to capitalize on the projected growth opportunities in this region.
In 2019, U.S. consumers spent 55.63 billion U.S dollars on frozen food, up from 53 billion a year earlier.
The statistic indicates that in 2019, U.S. consumers collectively spent a total of 55.63 billion U.S. dollars on frozen food products, marking an increase from the previous year’s expenditure of 53 billion U.S. dollars. This growth in spending suggests a rising demand for frozen food items among consumers in the U.S. It can be inferred that factors such as convenience, longer shelf life of frozen products, changing dietary preferences, and busier lifestyles may have contributed to this uptick in expenditure on frozen foods. The increase in spending highlights the significance of the frozen food industry in the U.S. market and its importance in meeting the needs and preferences of consumers.
Retail sales of frozen food in Canada reached around 5.1 billion Canadian dollars in 2019.
The statistic “Retail sales of frozen food in Canada reached around 5.1 billion Canadian dollars in 2019” indicates the total revenue generated from the sales of frozen food products within the retail sector in Canada during the specified year. This statistic reflects the significant market size and consumer demand for frozen food products in the country. The total sales value of 5.1 billion Canadian dollars highlights the economic importance and popularity of frozen food items among Canadian consumers, suggesting a stable and profitable market for businesses operating in the frozen food industry. The data provides valuable insights for stakeholders such as retailers, food manufacturers, and policymakers to analyze trends, consumer behavior, and make informed decisions related to product innovation, marketing strategies, and industry regulations.
The contribution of the frozen processed food segment to the overall processed food sector was around 8% in India in 2020.
The statistic indicates that the frozen processed food segment accounted for approximately 8% of the total processed food sector in India in the year 2020. This means that out of all the processed food products available in the market, frozen processed foods constituted a significant but relatively small portion of the market share. Understanding the contribution of this segment is important for stakeholders in the food industry, as it provides insights into consumer preferences, market trends, and growth potential for frozen processed foods in India. Furthermore, this statistic can help companies make informed decisions regarding product development, marketing strategies, and investment opportunities within the frozen processed food sector.
Almost 95% of Americans have some type of frozen food in their homes.
The statistic “almost 95% of Americans have some type of frozen food in their homes” suggests that the vast majority of individuals in the United States keep frozen food products at home. This statistic indicates that the consumption and reliance on frozen food items are prevalent among American households. The high percentage implies that frozen foods play a significant role in the convenience and accessibility of food options for the majority of the population in the country. This statistic highlights the popularity and widespread use of frozen food products as a convenient and time-saving option for meal preparation among American consumers.
The ready meals segment held the largest share, contributing over 30% in 2019.
The statistic indicates that within the market being analyzed, the ready meals segment held the biggest portion or share of the total market in 2019, accounting for over 30% of the market. This suggests that ready meals were the most popular or widely consumed type of product in that market during that year. The high contribution of ready meals highlights their significance and popularity among consumers, likely indicating a strong demand for convenient and quick meal solutions. Understanding the market share of different segments can provide valuable insights for businesses looking to optimize their product offerings and marketing strategies to meet consumer preferences and needs effectively.
The vegan frozen food market is expected to reach $24.3 billion by 2026.
The statistic that the vegan frozen food market is anticipated to achieve a value of $24.3 billion by the year 2026 signifies a significant growth and market potential within the industry. This projection indicates a growing consumer interest in plant-based and vegan food options, particularly within the frozen food sector. The increasing awareness about health and environmental benefits associated with veganism, as well as the expanding range of innovative and tasty vegan frozen food products, are likely driving this anticipated market expansion. Businesses operating within this market segment have the opportunity to capitalize on the increasing demand for vegan frozen food products and potentially gain a competitive edge in a rapidly evolving food industry landscape.
Australia’s frozen food sector is expected to reach AUD 20.4 billion (USD 15.9 billion) by 2023.
The statistic indicates that Australia’s frozen food sector is projected to grow and reach a market value of AUD 20.4 billion (equivalent to USD 15.9 billion) by the year 2023. This growth suggests that there is a rising demand for frozen food products in the Australian market, likely driven by factors such as changing consumer lifestyles, convenience, and an increasing preference for ready-to-eat or easy-to-prepare meal options. The significant market size forecasted for the sector highlights the economic importance and market potential of the frozen food industry in Australia, indicating opportunities for businesses operating within this market to capitalize on the expanding consumer interest in frozen food products.
Frozen potato products accounted for the largest share of the global frozen food market, with a value of $56.8 billion in 2019.
The statistic presented indicates that frozen potato products held the highest market share within the global frozen food market in 2019, with a total value of $56.8 billion. This means that among all the various frozen food products available worldwide, such as frozen vegetables, fruits, ready meals, and seafood, frozen potato products, including items like french fries, potato wedges, and hash browns, were the most popular and generated the highest revenue. The substantial market value of $56.8 billion suggests that there is significant demand for frozen potato products, likely due to factors such as convenience, affordability, and versatility in meal preparation. This statistic highlights the importance and economic significance of frozen potato products within the broader frozen food industry.
The enhanced product availability in frozen food in Japan has aided the market to reach JPY 1,269.3 billion in 2021.
The statistic indicates that the increased availability of enhanced frozen food products in Japan has contributed to the growth of the market, leading to a total market size of JPY 1,269.3 billion in the year 2021. This suggests that consumers in Japan are increasingly turning to frozen food options, possibly due to factors such as convenience, variety, and possibly even health considerations. The growth in the frozen food market can be seen as a reflection of changing consumer preferences and lifestyle trends, highlighting opportunities for businesses to continue innovating and expanding in this sector.
References
0. – https://www.vegconomist.com
1. – https://www.www.statista.com
2. – https://www.www.frozenfoodsbiz.com
3. – https://www.www.mordorintelligence.com
4. – https://www.www.moneycontrol.com
5. – https://www.www.prnewswire.com
6. – https://www.www.grandviewresearch.com
7. – https://www.www.foodprocessing.com.au
