The scope of our recent study, titled "Frozen Food Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Distribution Channel," includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with market share analysis.

The frozen food market is expected to grow from US$ 251,155.35 million in 2021 to US$ 373,767.59 million by 2028; it is expected to grow at a CAGR of 5.9% from 2022 to 2028.

Frozen food includes ice cream, frozen yogurt, frozen meat, frozen seafood, frozen ready meals, snacks, appetizers, soups, fruits, and vegetables. These products are preserved by freezing them at around -25 degrees Celsius. Frozen food products do not contain artificial preservatives, making them healthier than other processed food. Moreover, they can be easily stored in home freezers with a temperature of 0-degree Fahrenheit. The rising demand for convenience food owing to the hectic lifestyle of people is driving the growth of the frozen food market.

Based on distribution channel, the frozen food market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held a significant market share in 2021; however, the online retail segment is projected to register the highest CAGR during the forecast period due to its shopping and product delivery convenience. Online retail stores offer a wide variety of products with heavy discounts; consumers can conveniently buy desirable products remotely. Additionally, the door-step service attracts many customers to shop through e-commerce platforms. During the COVID-19 pandemic, frozen food sales through online retail channels increased dramatically as they offered home delivery services. These factors are expected to boost the segment's growth in the foreseeable future.

Based on geography, the frozen food market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). Europe accounted for the largest share of the market. The Europe frozen food industry is rapidly advancing with the rising consumption of convenience frozen food. The market is projected to witness significant growth in the coming years due to the strong presence of prominent players such as Nestle S.A.; and Bounduelle Group, operating actively across Europe. Moreover, these companies offer a broad array of frozen foods, including frozen desserts, frozen bakeries, frozen ready meals, frozen meat, and frozen soups. This factor is expected to drive the frozen food market growth over the forecast period.

Impact of COVID-19 Pandemic on Frozen Food Market

In the pre-pandemic period, the frozen food market was mainly driven by high demand for ready-to-eat, ready-to-cook, and instant frozen snack products owing to people's hectic lifestyles. However, many industries faced unprecedented challenges due to the COVID-19 outbreak in 2020. The food & beverage industry declined due to the shutdown of manufacturing units and supply chain disruption. However, the outbreak provided lucrative opportunities for the manufacturers of frozen food. During the initial phase of the pandemic, almost all the countries in the world have proposed a country-level lockdown in which people are restricted from going outside their houses. This global panic situation has propelled the demand for frozen food products owing to their higher shelf life. This factor is expected to propel the frozen food market.

The report segments the frozen food market as follows:

The frozen food market is bifurcated into type and distribution channel. Based on type, the market is segmented into frozen desserts; frozen bakery; frozen meat, poultry, and seafood; frozen ready meals; frozen snacks and appetizers; others. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. By geography, the frozen food market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

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