Demand for frozen foods in the United States is forecast to grow 2.4% annually in nominal terms through 2024, according to Frozen Foods: United States, a study recently released by Cleveland, Ohio-headquartered Freedonia Focus Reports. Advances will be driven by factors such as growth in population and disposable personal income.
Producers are sharpening the health profile of frozen foods, as well as boosting marketing efforts, to stimulate sales. Enhanced spending power will enable consumers to purchase more pricy frozen items that offer high-quality food in a convenient format and spur sales for the foodservice industry, which relies on frozen food for many of its menu items. However, the perception among low information consumers that fresh food is always healthier than frozen food will continue to restrain demand.
The report speculates that demand for frozen foods in the US is expected to see a 1.6% decline in 2020 in the midst of the novel coronavirus (SARS-CoV-2) pandemic, as plummeting demand from the foodservice sector weighs on sales. However, the increase in working from home and government-imposed limitations on restaurant dining will likely continue to drive an uptick in consumption of frozen foods at home for a variety of segments, including ready meals and baked goods, as consumers maintain pantry and freezer stockpiling behavior.
These and other key insights are featured in Frozen Foods: United States. This report forecasts frozen food demand and shipments in nominal US dollars at the manufacturer level for the next four years. Total demand and shipments are segmented by the product segments: meat and poultry; meals; produce and juice; seafood; baked goods; ice cream and frozen desserts.
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2009-19.
Packaged ice and shelf stable or refrigerated products frozen after purchase are excluded from the scope of this report. The following segments are excluded from the report: frozen dough (e.g., pizza dough for restaurant use); lactose free/non-dairy ice cream, powdered ice cream mixes, and ice cream prepared in foodservice establishments. Re-exports of frozen foods are excluded from demand and trade figures.
More information about the report is available at:
https://www.freedoniafocusreports.com/Frozen-Foods-United-States-FF10015/?progid=91541
