The frozen foods market is very concentrated and competitive in nature, with key players using strategies like new product launches and expansions of business operations to satisfy the rising consumer demands.
The leading players within the frozen foods market are General Mills Inc.(US), Nestle SA (Switzerland), Conagra Brands Inc.(US), Unilever(Netherlands), Kellogg Company(US), Ajinomoto(japan), The Kraft Heinz Company(US), Lantmannen Unibake International(Denmark) and McCain Foods Limited(Canada) among many others.
Here are but a couple of statistics about these companies, products and their highest sales:
-General Mills Inc. is found within the United States, with the CEO as Kendall Powell. It mainly deals with fruits and vegetables, and its highest sales was within the years of 2014-2015 with up to 17.9 billion USD.
-J.R. Simplot Co. is within the US with William Whitacre because the CEO. Their main products are fruits and vegetables and their 2014-2015 sale totaled up to six billion USD.
-Conagra Brands Inc. is additionally found within the us with Sean Connolly because the CEO. Their main products are vegetables and their highest sale was within the years of 2014-2015 with 3 billion USD.
-Pinnacle Foods Inc. is found in Canada with Bob Gamgort as the CEO. Their main products are fruits and vegetables and their highest sale of the years 2014-2015 yielded a complete USD 2.5 billion.
-Bellisio Foods Inc. is found within the US with Joel Conner as the chairman of the corporate. Their main product is vegetables and their 2014-2015 sale got up to 599 million USD.
-NORPAC Foods Inc. is found in Salem with George Smith as their CEO. Their main products are fruits and vegetables and their highest sale was 500 million USD within the year 2014-2015.
-Bonduelle North America is found in Canada with Daniel Vielfaure as the top executive. Its main products are fruits and vegetables and their highest sale within the years of 2014-2015 accrued up to 400 million USD.
-Cavendish Farms Corp. is found in Canada with Robert Irving as the CEO of the company. Their main product is vegetables and their 2014-2015 sale added up to 475 million USD.
These players adopted various strategies within the field like mergers and acquisitions, expansions, agreement and investments, and new product developments.
The frozen food market
The global frozen foods market, especially in Asia Pacific, is growing rapidly. This growth will continue within the future with attention on producing new specialty frozen foods products with many innovations for health-conscious consumers. The Asian Pacific frozen foods market is very concentrated in China and Japan thanks to the high consumption of meat and fish. Japan is the second largest marketplace for frozen foods in Asia Pacific. Almost like every other worldwide frozen foods market, the Japanese market is very fragmented with major companies like Nirichei Corporation, Katokichi, and Ajinomoto Co.
These companies also happen to be concentrating in expanding their horizons overseas by launching new products and acquiring new companies. For example, in 2017 Ajinomoto Foods Europe acquired Labeyrie Traiteur Surgeles. This acquisition was made to strengthen the company’s position in France and also to extend the company’s market share in France.
Europe is estimated currently as the most dominant market. The fair market value for frozen foods in Europe is tremendously concentrated, followed by North America and Asia Pacific. Europe acquired the biggest share of the worldwide frozen foods market in 2017.
Its frozen foods market was valued at 68,951.3 million USD in 2017; and was projected to grow at a CAGR of 4.3 percent from 2018. Italy is projected to succeed in a worth of 8282.6 million USD by 2023, recording the very best CAGR of 5.0 percent during the forecast period. Increasing consumption of fruits and vegetables has been witnessed in Europe which is thanks to the expansion of the frozen foods market, particularly the vegetable and fruit section.
Germany accounted for the greatest share of 23.5 percent within the European frozen foods market in 2017. Confirming to the German frozen foods Institute, nearly 17,000 products are available under the frozen foods category, which makes it among one of the foremost fragmented markets. It’s a beautiful marketplace for both manufacturing markets and exporters. The frozen foods market in Germany has good infrastructure and an out-sized consumer base with high purchasing power. The European market as you may have noticed, is driven by the expansion of the food industry similar to any other rapidly growing market in the world currently.
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