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Europe Frozen Food Market Industry Share, Size, Revenue, Latest Trends And Opportunities Assessment
Europe Frozen Food Market Overview
The Europe Frozen Food Market is experiencing notable expansion, driven by consumers' increasing demand for convenient and healthy meal options. According to recent reports, the market was valued at approximately USD 58.12 billion in 2022 and is projected to reach USD 87.19 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 5.2% during the forecast period.
The market is mostly driven by busy lifestyles, the growing demand for healthy food, and a lifestyle that is inexpensive, simple to prepare, and easy to cook. There are many uses for frozen fruits and vegetables, making them an affordable option. With 38% of the global frozen food market in 2021, Europe has the most demand globally, followed by North America. In 2021, 2.8 million tons of frozen food worth €3 billion were traded into Europe. The amount of frozen food imported from Europe has dropped by 0.6% over the last five years, while import prices have risen by 1.7%. The entire amount of imports from within Europe is 91%. However, just 9% of imports originate in developing nations.
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Competitive Landscape and Regional Demand
Europe holds a substantial share of the global frozen food market, accounting for 38% in 2021, followed by North America. Germany emerged as the largest importer within Europe, holding a 20% market share, while France and Belgium accounted for 18% and 14%, respectively. The market is characterized by key players such as Conagra Brands Inc., Nomad Foods Limited, and Europastry, who are actively investing in product innovation and strategic partnerships to enhance their market presence.
Europe: Frozen Food Market Consolidation
Europe's frozen food market is undergoing consolidation, with key players engaging in mergers and acquisitions to strengthen their market positions. For instance, Compass Group, the world's largest caterer, has pursued acquisitions in Europe, including Norway's 4Service and France's Dupont Restauration, amounting to $1.7 billion, to capitalize on strong outsourcing demand. Additionally, the increasing popularity of frozen baked goods, such as croissants, in Western Europe, including France, reflects a broader industry shift towards mass production to ensure consistency and availability.
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Regional Insights
Germany, the third-largest importer of frozen veggies in the world, is anticipated to dominate the European frozen food industry during the projected period, following the United States and Japan. Germany, the third-largest importer of frozen veggies in the world, is anticipated to dominate the European frozen food industry during the projected period, following the United States and Japan. German imports of frozen veggies accounted for €598 million in 2021, or 20% of the European market. German imports fell by 2.1% a year in 2017 and will reach 588.294 tons in 2021.
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Europe Frozen Food Market Segmentation
by Offering
Fruits
Vegetables
Potato Products
Frozen Potato Products
Seafood
by End-User
Food Service Industry
Retail Customers
by Product Category
Ready-to-eat
Ready-to-cook
Ready-to-drink
Other Product Categories
Individual Quick Freezing (IQF)
by Freezing Technique
Blast Freezing
Belt Freezing
Other Freezing Techniques
Market Key Players
1. Nestlé
2. McCain Foods
3. Nomad Foods
4. Dr. Oetker
5. Frosta AG
6. Bonduelle Group
7. Iglo Group
8. Greenyard NV
9. Pinguin Foods
10. Aviko
11. Findus Group
12. Birds Eye
13. Schwan's Company
14. Aunt Bessie's
15. Lutosa
16. Lamb Weston Holdings, Inc.
17. Iceland Foods
18. FRoSTA Maultaschen GmbH
19. Picard Surgelés
20. FRoSTA AG
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