Report : Middle East & Africa Frozen Food Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Frozen Desserts; Frozen Bakery; Frozen Meat, Poultry, and Seafood; Frozen Ready Meals; Frozen Snacks and Appetizers; and Others) and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
At 6.6% CAGR, the Middle East & Africa Frozen Food Market is speculated to be worth US$ 20.37 Billion by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa frozen food market was valued at US$ 13.85 billion in 2022 and is expected to reach US$ 20.37 billion by 2028, registering an annual growth rate of 6.6% from 2022 to 2028. Strategic development initiatives by manufacturers and plant-based frozen products becoming popular are the critical factors attributed to the market expansion.
Manufacturers of frozen food are making significant investments in product innovation to expand their customer base and meet emerging consumer trends. They are launching gluten-free, plant-based, sugar-free, organic, and clean-labeled products, as well as products suitable for a keto diet, which meet the varied requirements of consumers. The newly launched products are Frozen Veg and Chicken Spring Rolls, frozen Chicken Nuggets, Chicken and Veg Mini Samosas, Chicken and Mutton Shammi Kababs and Seekh Kababs along with Bacon to its frozen snack’s product portfolio. These products were launched to help consumers stay on track with their health goals and enjoy a good meal at the same time as health became a priority for consumers worldwide during the MEA crisis. Because people have started focusing on convenience food products while maintaining the nutritional balance in their diets, manufacturers are launching nutritionally enriched frozen products. Such product innovations help them extend their reach and gain a competitive edge in international markets.
Strategies such as business expansion and production capacity scaleup are also being adopted by frozen food manufacturers to better serve their customers. Some frozen food manufacturers are also collaborating and partnering with other market players to launch innovative products in the market. In January 2021, Nomad Foods announced plans to acquire the Frozen Foods (FFBG) business of Fortenova Group, which includes Ledo, Frokom, and other brands. These initiatives by manufacturers are creating lucrative growth opportunities in the frozen food market.
On the contrary, lack of cold chain infrastructure hurdles the growth of Middle East & Africa frozen food market.
Based on type, the frozen food market sphere is segmented as frozen desserts; frozen bakery; frozen meat, poultry, and seafood; frozen ready meals; frozen snacks and appetizers; others. The frozen meat, poultry, and seafood held 25.3% market share in 2022, amassing US$ 3.50 billion. It is projected to garner US$ 4.95 billion by 2028 to expand at 5.9% CAGR during 2022–2028.
By the distribution channel, the Middle East & Africa frozen food market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. With 52.5% share of the domain, the supermarkets and hypermarkets segment dominated the market in 2022. It accrued US$ 7.27 billion in 2022 and is estimated to generate US$ 10.59 billion by 2028 to grow at a CAGR of 6.5% over the forecast period.
Our regional analysis states that the Rest of Middle East & Africa captured 75.5% market share in 2022. It was assessed at US$ 10.46 billion in 2022 and is likely to hit US$ 14.95 billion by 2028, exhibiting a CAGR of 6.1% during the forecast period.
Key players dominating the Middle East & Africa frozen food market are Bonduelle Group; General Mills; Kellogg’s Company; McCain Foods Limited; Nestle S.A.; The Kraft Heinz Company; and Tyson Foods, Inc. among others.
Few key developments among top market players are described below:
- In Nov 2021, General Mills partners with Regrow Agriculture to monitor agriculture at scale.
- In March 2022, Conagra Brands Launched Extensive Summer Line-up of New Product Innovation.
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