Global Frozen Food Market to Reach $472.7 Billion by 2030
The global market for Frozen Food estimated at US$306 Billion in the year 2023, is expected to reach US$472.7 Billion by 2030, growing at a CAGR of 6.4% over the analysis period 2023-2030. Frozen Food Raw Material, one of the segments analyzed in the report, is expected to record a 5.4% CAGR and reach US$195.4 Billion by the end of the analysis period. Growth in the Half-Cooked Frozen Food segment is estimated at 6.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $79.8 Billion, While China is Forecast to Grow at 10% CAGR
The Frozen Food market in the U.S. is estimated at US$79.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$113.6 Billion by the year 2030 trailing a CAGR of 10% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 5.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$69.3 Billion by the year 2030.
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