Frozen, Canned and Dried Food Global Market Report 2023
Major companies in the frozen, canned, and dried food market include Nestle S.A., The Kraft Heinz Company, McCain Foods Limited, Abbott Laboratories, Tyson Foods Inc., The Campbell Soup Company, Unilever plc, General Mills, Lamb Weston Holdings, Inc.
New York, April 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Frozen, Canned and Dried Food Global Market Report 2023" - https://www.reportlinker.com/p06284451/?utm_source=GNW
, Nomad Foods Ltd.
The global frozen, canned and dried food market grew from $459 billion in 2022 to $492.36 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The frozen, canned and dried food market is expected to grow to $626.26 billion in 2027 at a CAGR of 6.2%.
The frozen, canned, and dried food market consists of sales of frozen fruit, frozen juices, frozen vegetables, canned, pickled, and dried fruits, vegetables, frozen specialty foods, frozen dinners, entrees, side dishes, pizza, whipped toppings, waffles, pancakes, french toast, and other frozen and fruit and vegetables.This market does not include unprocessed fruit and vegetables which are part of the agricultural market, meat products, ice creams and frozen desserts.
The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Frozen foods are defined as foods that are preserved by a freezing process and stored in a freezer at the required temperature before cooking.Canned foods are defined as foods that are processed and sealed in airtight containers for a longer shelf life by a food preservation method.
Dried and dehydrated foods are defined as foods from which the most of the original water content has been removed using a food preservation process.
Asia-Pacific was the largest region in the frozen, canned and dried food market in 2022.Western Europe was the second-largest region in the frozen, canned, and dried food market.
The regions covered in the frozen, canned and dried food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of frozen, canned, and dried food are frozen food, canned food, and ambient food.Frozen food is food that is preserved in a frozen state from the time it is prepared to the time it is eaten.
The main distribution channels are supermarkets and hypermarkets; convenience stores; e-commerce; and other distribution channels. The different users include foodservice industry users and retail users.
The increasing demand for local, sustainable, and organic food production is expected to positively impact the frozen and fruit and vegetable markets during the forecast period.Organic food production, including organic frozen and fruit and vegetable markets, places a strong emphasis on consumer health, environmental protection, and animal welfare.
Consumers are now becoming more concerned with how food is raised and prepared and are willing to pay a little more for something they recognise as healthy. For instance, in June 2022, the Organic Trade Association, a US-based trade association representing over 9,500 organic businesses, sales of organic fruits and vegetables increased by 4.5% with revenue of $21 billion representing 15 percent of the total product market in the year 2021 in the US. This growing demand for organic products offers considerable opportunities for frozen and fruit and vegetable market producers in both developed and developing countries, thus likely driving the market during the forecast period.
The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the frozen and fruit & veg markets in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia.Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers.
As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline.
The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the frozen and fruit & veg markets will recover from the shock across the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Frozen food manufacturers are using technologies such as individual quick freezing (IQF) to improve the yield and quality of frozen foods.The IQF method involves transferring the individual food items on a conveyor belt into a blast freezer that quickly freezes the items.
With the IQF method, every individual piece of food is frozen separately, as opposed to bulk or block freezing. This method boosts yield by 1.5–3% and results in better quality products with high nutritional value and less wastage. Examples of IQF foods include fruits such as blueberries, strawberries, and peaches, and vegetables such as corn, peas, and green beans. The global IQF vegetable market is expected to reach $2 billion by 2026, thus indicating significant demand for IQF food products in the future.
The countries covered in the frozen, canned and dried food market report are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The frozen, canned and dried food research report is one of a series of new reports that provides frozen, canned and dried food statistics, including frozen, canned and dried food industry global market size, regional shares, competitors with frozen and fruit and vegetable share, detailed frozen, canned and dried food segments, market trends and opportunities, and any further data you may need to thrive in the frozen, canned and dried food industry. This frozen, canned, and dried food research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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