Consumer Appetite For Frozen Food Continues To Grow

The global frozen food market is expected to grow at nearly 6% per year through 2028, according to a new report from Insight Partners. 

The report estimates sales in the category will grow to $373.8 billion over the next six years. Sales of frozen food in 2021 were $251.2 billion. Several factors including the convenience products in the category provide time-starved consumers along with a focus on eating healthier products such as seafood are seen as key drivers of sales in the category over the next several years.

The report noted that convenience food, such as frozen snacks, frozen meals, cold cuts, and ready-to-eat products, allows consumers to save time and efforts associated with ingredient shopping, meal preparation and cooking, consumption, and post-meal activities. 

Additionally, frozen food suppliers are also making significant investments in new products in an effort to meet ever-changing consumer trends. For example, leading suppliers are bringing to market products that are gluten-free, plant-based, sugar-free, organic, and clean-labeled products, as well as products suitable for a keto diet, which meet the varied requirements of consumers.

One example cited in the report was a frozen food line launched at 1,500 Kroger stores in 2021 that included seven protein-rich, low-carb, grain-free, and gluten-free frozen product categories.

Also of note, the frozen meat, poultry and seafood segment accounted for the largest market share in the category in 2021. Frozen meat products are growing in popularity as they can be stored conveniently, reducing food wastage. 

The growing demand for frozen seafood products stems from rising awareness regarding the nutritional benefits associated with the consumption of seafood. Seafood is rich in omega 3 and 6 fatty acids, vitamins, minerals, and amino acids. Thus, the demand for frozen meat, poultry, and seafood products is increasing and is further expected to drive the frozen food market.