Dublin, Aug. 27, 2024 (GLOBE NEWSWIRE) -- The "Frozen Food Production in the US - Industry Market Research Report" has been added to ResearchAndMarkets.com's offering.
Frozen food producers have expanded through the end of 2024 as boosting disposable income has allowed consumers to trade up to newer, healthier and premium varieties of goods that command higher retail prices. With more money to spend, some consumers have opted for fresh produce over frozen varieties, stifling expansion.
Mounting health concerns have also led some consumers to purchase fewer frozen foods, which are often perceived as less healthy than fresher meals, despite new studies indicating otherwise. Frozen food producers have responded by introducing products with healthier, more nutritious ingredients.
Over the past five years, frozen food producer revenue has been climbing at a CAGR of 6% and is expected to reach $53.1 billion in 2024, including a 15.2% anticipated surge in 2024 alone. This large uptick during the year can be attributed to the heightened adoption of healthier options in response to increasing health consciousness and dietary restrictions.
Trends and Insights
- Frozen food products contend with adverse conditions from negative public perceptions. That's why frozen food producers have invested in significant research and development to reformulate products with fewer preservatives and more added nutrients from superfoods like spinach.
- Expanding health consciousness has negatively impacted the frozen prepared food segment since many consumers perceive these foods as unhealthy and highly processed.
- Frozen food producers have introduced a variety of healthier, organic and otherwise less-processed options that appeal to these health-conscious consumers, helping to improve their perceptions of frozen food.
- The geographic spread of frozen food producers strategically positions them close to suppliers of key inputs, such as establishments involved in fruit and vegetable processing. This proximity allows for efficient sourcing of quality ingredients necessary for their products.
- Competition among frozen food producers is chiefly based on product price, quality and differentiation.
- A frozen food producer's relationship with upstream and downstream markets is also important because these relationships can determine input costs or the price producers charge downstream customers.
- Heightened popularity for healthy, premium products has somewhat threatened sales. Americans have become more health-conscious in recent years, evidenced by a contraction in per capita sugar and sweetener consumption, used as a proxy for health consciousness.
- Frozen food producers will continue to adapt to ever-changing food consumption trends
- The convenience and affordability of frozen prepared meals will continue to attract customers.
Company Coverage:
- Conagra Brands, Inc.
- Schwan's Company
- Lamb Weston Holdings, Inc.
- Nestle Sa
- General Mills, Inc.
- Kraft Heinz Co
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
For more information about this report visit https://www.researchandmarkets.com/r/sbbtwb
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