PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1527891
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1527891
The U.S. frozen food market is expected to grow at a CAGR of 3.41% from 2023 to 2029.
MARKET TRENDS & DRIVERS
Growing Demand for Plant-Based Frozen Food
The demand for plant-based frozen food is growing significantly in the U.S. frozen food market due to increased interest in plant-based diets, convenience factors, innovation in plant-based products, health & wellness focus, and rising awareness about environmental sustainability. In the U.S., wholesale suppliers are stocking various vegetarian and vegan frozen food options to meet consumer preferences. Thus, frozen food manufacturers are taking advantage of this opportunity and offering meat alternatives to acter plant-based consumers in the U.S. market. Many plant-based frozen meals are known as healthy options, which contain lower cholesterol, calories, and saturated fat than traditional frozen meals. Many consumers seek vegan, vegetarian, or flexitarian diets due to environmental, ethical, or health concerns. This rising demand for dietary food preferences increases demand for plant-based options. Frozen food offers convenience, and plant-based frozen options can cater to this need. Food companies are constantly developing improved and new plant-based alternatives that offer the same texture and taste as meat. It makes plant-based meals more attractive in the market. In the U.S., major frozen food companies are launching new plant-based food products. For instance, in 2022, Conagra's Gardein brand launched plant-based frozen food in the U.S. market. This leads to a drive in the demand for frozen food in the U.S. market during the forecast period.
Higher Demand for Premium Frozen Food
Demand for premium frozen food is rising in the U.S. frozen foods market due to various factors shifting consumer preferences, innovation, premiumization, and evolving perception. The growing desire for convenience and a busy lifestyle drive the demand for prepared meals. However, U.S. consumers want high-quality food, and they are seeking convenient options that are also delicious and healthy. The U.S. frozen food industry is responding to this trend by offering a wider variety of premium frozen food. It includes globally inspired flavors, restaurant-inspired dishes, plant-based options, and organic & all-natural ingredients. Premium frozen food caters to health-conscious people. This is much more than the frozen food trend, as demand for it is rising from various industries. Due to the high disposable income, people are willing to pay more for frozen food with high-quality ingredients, rival restaurant quality, and unique flavors. The perception that frozen food is no longer an unhealthy and low-quality option is rising in the U.S. market. Companies are focusing on social media advertising to promote their premium frozen foods, and this is changing consumer perception of the frozen food category. This will drive the demand for frozen food in the U.S. market during the forecast period.
Increasing Demand for Time-saving And Convenient Food Options
The demand for time-saving and convenient food options is rising in the U.S., a major driver in the U.S. frozen food market. Factors like busy lifestyles, convenience, storage, variety, and working parents drive this. The U.S. people have busy schedules, are dual-income, and have less time for meal preparation. Frozen meals can offer a convenient and quick alternative that can be prepared and served less quickly. Frozen food requires minimal cleanup and preparation work as compared to fresh ingredients. It is a more convenient way for busy families and individuals to get around. Many of the families have both full-time working parents, who have less time for cooking. Thus, they are looking for a food alternative that is quickly prepared and has nutritional qualities. Frozen food offers a longer shelf life, allowing easier meal planning and reducing food waste. In the U.S., people waste food, which is equal to around 140 billion meals each year. As this market has evolved significantly, it offers various options beyond traditional dinners. Thus, consumers can find healthy frozen foods, single-serve portions, gourmet dishes, and ethnic cuisines. The industry constantly innovates exciting new frozen food options, keeping consumers interested and engaged. The rise of online grocery shopping makes it more convenient to purchase frozen food, which contributes to the growth of the U.S. frozen food market.
INDUSTRY RESTRAINTS
Food Safety Concerns
Food safety concerns are indeed a challenge in the U.S. frozen food market. The main concerns are pathogens, consumer handling, temperature control, and contamination. Bacteria like Salmonella and Listeria monocytogenes can survive freezing temperatures. It causes serious illness if not handled during storage, preparation, or processing. During the supply chain, contamination can happen at various points, from processing to transportation & storage. It is important to maintain the temperature throughout the supply chain. The continuously changing temperature can lead to refreezing and partial thawing, possibly creating bacterial growth. The improper handling of frozen food at home, such as not reheating to the proper temperature or thawing at room temperature, may hinder the U.S. frozen food market's growth during the forecast period.
SEGMENT INSIGHTS
INSIGHT BY PRODUCT TYPE
The U.S. frozen food market by product type is segmented into prepared food, desserts, seafood, pizza, fully cooked meat, fruits & vegetables, and frozen fresh meat. The prepared food segment dominates with the largest market share in 2023. Prepared frozen foods are a major driver of the overall frozen food market as these meals offer easy and quick preparation solutions. The segment is expected to grow significantly due to its affordability and convenience. People are seeking healthier frozen-prepared options with a rising focus on health and wellness. It includes lower sodium content, plant-based proteins, and more vegetables & whole grains. As frozen prepared food is portion-controlled, they can help to avoid overbuying fresh ingredients, which may spoil before usage. It reduces the food waste and saves money. Frozen food aisles offer different types of dishes and allow consumers to find options that fit their dietary needs and preferences, thus increasing demand for the prepared food segment in the U.S. market.
By Product
INSIGHT BY AGE GROUP TYPE
The U.S. frozen food market by age group is categorized into 35 to 64, below 34, 65 & above. The below 34 segment showcases prominent growth, with the highest CAGR during the forecast period. The demand for bakery products, desserts, seafood, frozen meat, etc., is rising from this age group segment. More students and younger working people are more open to trying new food. As they are more active on social media, companies promote and run campaigns to gain traction from this segment. They like to buy and carry frozen food to go outside with their group. People from this segment's single living and busy schedules prefer to eat frozen entrees. Some young adults want frozen options like plant-based meals or smoothie mixes. This will drive the demand for frozen food in the U.S. market during the forecast period.
By Age Group
INSIGHT BY END-USER TYPE
The B2C segment holds the largest U.S. frozen food market share based on the end-user type. The B2C segment includes frozen food sold directly to individuals through retail channels, including supermarkets & hypermarkets, convenience stores, online retailers, discount grocers, etc. Working adults rely on frozen meals for quick breakfast, lunches, or dinners, which are more suitable for their bus schedules. Younger adults consume frozen food for affordability and convenience, including frozen pizzas and snacks. The demand for frozen desserts from younger adults is growing significantly in the U.S. market. This will drive the demand for frozen food in the U.S. market during the forecast period.
By End-User
COMPETITIVE LANDSCAPE
The U.S. frozen food market report contains exclusive data on 28 vendors. National brands constantly innovate with new formats, flavors, and healthier options to cater to consumer needs and preferences. They are focusing on nutritional benefits-based frozen food products to stay ahead in the market competition. Larger companies focus on acquiring small players, such as producers and sellers, to align with premiumization. They are also expanding their product portfolio and focusing on increasing market share. Many companies are entering this market with flavorful frozen dishes to gain traction. Companies compete in terms of price and quality of products. The private label brands are offering frozen food at lower prices. It caters to the convenience and affordability factors in the market. Leading companies in the market are Conagra Brands, Inc., General Mills, Hormel Foods, JBS Foods, Kellanova, Nestle, Smithfield Foods, Sysco Corporation, The Kraft Heinz Company, and Tyson Foods.
Key Vendors
Other Prominent Vendors
KEY QUESTIONS ANSWERED:
CHAPTER 1: US Frozen Food Market Overview
Executive Summary
Key Findings
Key Developments
CHAPTER 2: US Frozen Food Market Segmentation Data
Product Market Insights (2023-2029)
Prepared Food
Desserts
Sea Food
Pizza
Fully Cooked Meat
Fruits & Vegetables
Frozen Fresh Meat
Others
Age Group Insights (2023-2029)
Below 34
End-User Market Insights (2023-2029)
B2C
B2B
CHAPTER 3: US Frozen Food Market Prospects & Opportunities
US Frozen Food Market Drivers
US Frozen Food Market Trends
US Frozen Food Market Constraints
CHAPTER 4: US Frozen Food Market Overview
US Frozen Food - Competitive Landscape
US Frozen Food - Key Players
US Frozen Food - Key Company Profiles
CHAPTER 5: Appendix
Research Methodology
Abbreviations
Arizton
Exhibit 1: US Frozen Food Market 2020-2029 ($ BN)
Exhibit 2: US Frozen Food Market by Product 2020-2029
Exhibit 3: Market by Prepared Food 2020-2029 ($ BN)
Exhibit 4: Market by Desserts 2020-2029 ($ BN)
Exhibit 5: Market by Sea Food 2020-2029 ($ BN)
Exhibit 6: Market by Pizza 2020-2029 ($ BN)
Exhibit 7: Market by Fully Cooked Meat 2020-2029 ($ BN)
Exhibit 8: Market by Fruits & Vegetables 2020-2029 ($ BN)
Exhibit 9: Market by Fresh Meat 2020-2029 ($ BN)
Exhibit 10: Market by Others 2020-2029 ($ BN)
Exhibit 11: US Frozen Food Market by Age Group 2020-2029
Exhibit 12: Market by 35 to 64, 2020-2029 ($ BN)
Exhibit 13: Market by Below 34, 2020-2029 ($ BN)
Exhibit 14: Market by 65 & Above 2020-2029 ($ BN)
Exhibit 15: US Frozen Food Market by End-User 2020-2029
Exhibit 16: Market by B2C 2020-2029 ($ BN)
Exhibit 17: Market by B2B 2020-2029 ($ BN)
LIST OF TABLES
Table 1: US Frozen Food Market 2020-2029 ($ BN)
Table 2: Market by Product 2020-2029 ($ BN)
Table 3: Market by Product 2020-2029 (%)
Table 4: Market by Age Group 2020-2029 ($ BN)
Table 5: Market by Age Group 2020-2029 (%)
Table 6: Market by End-User 2020-2029 ($ BN)
Table 7: Market by End-User 2020-2029 (%)