CLEVELAND, Sept. 24, 2020 /PRNewswire/ — US demand for frozen foods is forecast to grow 2.4% annually in nominal terms through 2024, according to Frozen Foods: United States, a report recently released by Freedonia Focus Reports. Advances will be driven by factors such as growth in population and disposable personal income. Suppliers are attempting to improve the health profile of frozen foods, as well as the marketing, to stimulate sales. Enhanced spending power will enable consumers to purchase more expensive 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 many consumers that fresh food is healthier than frozen food will continue to restrain demand.
More information about the report is available at:
Demand for frozen foods in the US is expected to see a 1.6% decline in 2020 in the midst of the COVID-19 pandemic, as plummeting demand from the foodservice sector weighs on sales. However, the increase in working from home and avoiding restaurants will drive an uptick in consumption of frozen foods at home for a variety of segments, including meals and baked goods, as consumers exhibit stockpiling behavior.
These and other key insights are featured in Frozen Foods: United States. This report forecasts to 2020 and 2024 US frozen food demand and shipments in nominal US dollars at the manufacturer level. Total demand and shipments are segmented by product in terms of:
- meat and poultry
- produce and juice
- 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 to 2019.
Packaged ice and shelf-stable or refrigerated products frozen after purchase are excluded from the scope of this report. Frozen dough (e.g., pizza dough for restaurant use) is excluded from the scope of this report. Lactose free/non-dairy ice cream, powdered ice cream mixes, and ice cream prepared in foodservice establishments (e.g., ice cream shops) are excluded from the scope of this report. Re-exports of frozen foods are excluded from demand and trade figures.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
SOURCE The Freedonia Group