Frozen Entree Market Size, Share, Growth by 2030

In 2022, the frozen entree market was valued at approximately US$ 39,925.58 million and is anticipated to grow to around US$ 57,054.53 million by 2030, reflecting a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030.

Frozen entrees are ready-to-eat meals that include a variety of components such as vegetables, meats, rice, lentils, quinoa, pasta, noodles, along with sauces and dressings. These meals serve as complete dishes, providing essential carbohydrates, proteins, fibers, vitamins, and minerals. The addition of sauces and dressings enhances the flavor profile, making these meals both appealing and delicious. The preparation of frozen entrees occurs at manufacturing facilities, where they are cooked and subsequently frozen. After freezing, they are packaged and stored at temperatures around -18?C. To ensure a longer shelf life, manufacturers must maintain appropriate cold storage conditions. Additionally, innovative packaging solutions are being employed to attract new customers and increase sales.

The rise of veganism has significantly impacted consumer preferences, with many individuals gravitating towards plant-based food options, which are often perceived as healthier alternatives to traditional meals. Growing awareness of animal welfare and environmental sustainability is further driving the demand for vegan products. The global shift towards veganism is fostering innovation within the frozen entree sector. For instance, Veganuary, a nonprofit organization promoting veganism for the month of January, reported that approximately 5.8 million individuals participated in its campaign in 2021. In 2020, the Dutch startup Lazy Vegan launched a gluten-free and soy-free Thai Green Curry as part of its frozen meal offerings, alongside other plant-based options. Similarly, in September 2021, HEROTEIN from China introduced a line of 16 ready-to-eat plant-based meat meals, including various chicken and beef alternatives, all fully plant-based and set for distribution across China. This growing trend towards plant-based diets and the increasing acceptance of veganism are expected to create significant opportunities for the frozen entree market in the coming years.

The frozen entree market is categorized by distribution channels, which include supermarkets and hypermarkets, convenience stores, online retail, and others. In 2022, supermarkets and hypermarkets dominated the market share, while the online retail segment is projected to experience the highest growth rate during the forecast period. Supermarkets and hypermarkets are large retail outlets that provide a diverse range of products, including groceries, food items, and household goods. These establishments offer a variety of brands at competitive prices, allowing consumers to easily find the products they need. They typically stock a wide selection of frozen entree brands to meet consumer demand, with products organized for easy access. These stores also feature modern storage solutions to maintain optimal conditions for frozen goods. Additionally, they often provide attractive discounts, multiple payment options, and a pleasant shopping experience. Supermarkets and hypermarkets aim to maximize sales, making them a preferred channel for frozen entree manufacturers due to the high customer traffic.

Geographically, the frozen entree market is divided into regions including North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America. Europe held the largest market share in 2022, while the Asia Pacific region is expected to exhibit the highest CAGR during the forecast period. Over the last decade, consumers have increasingly sought products with clear and comprehensible ingredient lists, leading to a trend towards clean-label frozen entrees that contain minimal additives and preservatives. According to the biannual FMCG Demand Signals report, private-label products have gained significant traction in Europe since the COVID-19 pandemic, with Spain leading in clean-label product penetration at 47%, followed by Germany at 41% and the UK at 37%. This growing demand for clean-label frozen entrees is anticipated to create new opportunities in the European market. The frozen entree sector in Europe is expected to experience substantial growth in the coming years, driven by major players such as Nestle S.A. and Bonduelle Group, which offer a wide range of frozen products, including both plant-based and meat-based options.

Key players in the frozen entree market include Lamb Weston Holdings Inc., J.R. Simplot Company, Handy Food Innovation Ltd., Dr. Praeger?s Sensible Foods LLC, B&G Foods Inc., and Conagra Brands Inc. These companies provide a diverse array of products, particularly in the sweet potato hash brown and tater shots categories. Their extensive global presence positions them well to capture a larger customer base and enhance market share. These industry leaders are committed to developing innovative products to better serve their clientele.

The overall size of the frozen entree market has been determined through a combination of primary and secondary research methods. The research process began with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, national sales managers, and external consultants, including valuation experts, research analysts, and key opinion leaders specializing in the frozen entree market.