Frozen food is a notion in which food is kept frozen in order to prevent spoilage. To avoid a meat shortage, restaurants now keep a considerable amount of frozen meat on hand—this helps to preserve the flavor and texture of meat and poultry dishes. The frozen meat business is expanding rapidly owing to a variety of causes. Many consumers now consider frozen items nutritionally equivalent to unfrozen ones. In turn, industry participants are responding to the desire, and packaging businesses have increased their options to satisfy the wide variety of transportation and storage requirements for frozen meat.
Additionally, expanding fast-food establishments and restaurants across the globe, as well as increased demand for frozen meat for their daily operations, are likely to have a significant influence on the global frozen meat industry. For instance, KFC (Kentucky Fried Chicken) uses frozen chicken to develop recipes with the same taste, and they use the same meat across the globe for the same quality.
According to a study published in the British Food Journal, frozen food causes 47% less food waste at home than non-frozen food, allowing families to save money while having healthier meals. Moreover, when meat is frozen, hazardous germs cannot develop, allowing it to be stored in the refrigerator for an extended period of time. With all these factors, the market is expected to grow at a CAGR of 4.9% during the forecast period of 2022–2028, according to OMR Research.
Segments of the Market
The global frozen meat market is segmented on the basis of product type, end-use application, and distribution channel. On the basis of product type, the market is sub-segmented into chicken, pork, beef, lamb, and others. On the basis of end-use application, the market is sub-segmented into the food chain and retail. Further, based on the distribution channel, the market is sub-segmented into non-store-based and store-based.
Recent Developments (VERIFY COMPANY NAME)
Foster Farms, Pederson's Natural Farms, Inc., Tendercut Meats Ltd., Northgate Foods Ltd., Tyson Foods, Inc., General Mills Inc., Grupo Bimbo S.A.V. de C.V., Unilever (Netherlands), McCain Foods Ltd., Europastry S.A., OOB Organics, Chevon Agrotech Pvt. Ltd., and other market players are contributing to the market's growth through various mergers, acquisitions, investments, and new product launch activities. Some of the recent developments in the market include:
• In April 2022, Prasuma, a chilled meat and frozen food company from India, announced the addition of a frozen food portfolio to its product offerings. Frozen Veggie and Chicken Spring Rolls, Frozen Chicken Nuggets, Veg and Chicken Mini Samosas, Mutton and Chicken Seekh Kababs, Mutton and Chicken Shammi Kababs, and Bacon were added to the brand's frozen portfolio. The introduction of the expanded product portfolio will assist Prasuma in expanding its footprint throughout India.
• In February 2022, Seara Foods, a Brazilian food processing brand specializing in the development and distribution of meat products, announced the launch of the Seara Shawata frozen marinated whole chicken. With this new product, the company targeted the Middle Eastern and Latin American markets due to the heavy demand for poultry products in those regions.
• In November 2022, the Michigan Commission of Agriculture and Rural Development approved grants totaling $430,000 to five local Michigan firms. MG88 Holland Cold Storage earned $100,000 out of those five firms for a proposed 75,000-square-foot extension to its current 150,000-square-foot warehouse to provide extra freezer storage capacity for meat packers, fruit producers, and supermarket manufacturers, while also generating 10 new jobs.
Conclusion
The growing customer desire for convenience foods indirectly benefits the growing demand for frozen items since they take less time and effort to prepare than cooking from scratch. Due to their hectic lifestyles, buyers have a greater desire for convenience, which drives the processed food business. As a result, the demand for frozen meat rises.
Furthermore, other factors, such as technical developments to extend the shelf life of frozen food and ongoing attempts to produce the highest quality products, are affecting the market’s growth. Besides, the rising penetration of e-commerce and online food delivery services, driven by a fast-paced lifestyle, means that food joints and restaurants around the world rely on frozen meat products to meet the demand for meat dishes, which is expected to fuel the global market's growth.