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(Frozen Food Market Research) Frozen Food Insights - Zpryme Research - July 2011
(Frozen Food Market Research) Frozen Food Insights - Zpryme Research - July 2011
July 2011
CONFIDENTIAL AND PROPRIETARY 2011 Zpryme Research & Consulting, LLC 1 Any duplication, reproduction, or usage of this document or any portion thereof without the written consent of the firm is prohibited.
Table of contents
Whats Inside
Frozen Food Market Snapshot - 1 World, Asia, and North America Frozen Food Market - 2
Market Insights:
o Economics, healthy choices and convenience will drive product growth across all frozen product categories in the near term.
2011 Zpryme Research & Consulting, LLC
o North America sales of frozen pizza will continue to make up almost 50% of the global market. o Driven by an emerging middle class, Asia Pacific (especially in India and China) frozen potato and ready meal sales will see significant growth in 2011 and 2012. o Frozen food products will see strong competition from fast food restaurants and from supermarkets offering fresh ready to eat meals and products. o Forward-looking: beauty/lifestyle frozen foods that boast anti-aging agents or increase energy will increasingly become more popular again as global consumer purchasing sentiment grows positive for 2012.
World, Asia, and North America Frozen Food Market 2005 2010
In 2010, the global frozen food market reached $194 billion, while the Asia Pacific and North America market values were $16.5 and $42.9 billion, respectively.
$250.0 2011 Zpryme Research & Consulting, LLC
Global, Asia, and North America Frozen Food Market 2005 2010 (in U.S. billions)
$194.1
$200.0
$174.7 $151.8 $157.3
$187.1
$188.2
$150.0
$100.0
$50.0
$11.6
$34.7
$36.5
$40.0 $15.6
$41.2
$42.9
$12.0
$16.5
$0.0
2005
2006
2009
World, Asia, and North America Frozen Pizza Market 2005 - 2010
In 2010, the global frozen pizza market reached $13.0 billion, while the Asia Pacific and North America market values were $0.3 and $6.2 billion, respectively.
$14.0 2011 Zpryme Research & Consulting, LLC
Global, Asia, and North America Frozen Pizza Market 2005 2010 (in U.S. billions)
$12.1 $12.3 $11.2 $9.9 $10.3
$13.0
$12.0
$10.0
$8.0
$5.9
$6.2
$6.0
$4.8 $4.9
$5.2
$5.5
$4.0
$2.0
$0.3 $0.3 $0.3 $0.3 $0.3 $0.3
$0.0
2005
2006
2009
World, Asia, and North America Frozen Potato Market 2005 - 2010
In 2010, the global frozen potato market reached $7.2 billion, while the Asia Pacific and North America market values were $0.5 and $1.9 billion, respectively.
Global, Asia, and North America Frozen Potato Market 2005 2010 (in U.S. billions)
$8.0 2011 Zpryme Research & Consulting, LLC
$7.2
$6.8
$7.0
$7.2
$6.2
$1.5
$1.6
$1.7
$1.7
$1.8
$1.9
$0.4
$0.4
$0.4
$0.5
$0.5
$0.5
2005
2006
2009
World, Asia, and North America Frozen Ready Meals Market 2005 - 2010
In 2010, the global frozen pizza market reached $26.0 billion, while the Asia Pacific and North America market values were $1.2 and $12.8 billion, respectively.
Global, Asia, and North America Frozen Ready Meals Market 2005 2010 (in U.S. billions)
$30.0 2011 Zpryme Research & Consulting, LLC
$26.0
$26.0
$24.8
$25.0
$22.5 $21.0
$24.4
$20.0
$15.0
$10.8 $11.5 $11.9 $12.3 $12.4
$12.8
$10.0
$5.0
$0.9 $0.9 $0.9 $1.1 $1.2 $1.2
$0.0
2005
2006
2009
World, Asia, and North America Frozen Food Growth Rates 2005 - 2010
From 2005 to 2010, the world frozen food market grew by 5.0% annually. The world frozen pizza, frozen potato, and frozen ready meal markets grew by 5.5%, 4.0%, and 4.3% annually, respectively.
Frozen Food Compound Annual Growth Rates by Segment and Region Time Period: 2005 - 2010 Market Segment Frozen Processed Food Frozen Pizza Frozen Processed Potatoes Frozen Ready Meals World 5.0% 5.5% 4.0% 4.3% Asia Pacific 7.3% 3.1% 4.8% 6.8% North America 4.3% 5.3% 4.8% 3.4%
Source: Zpryme
Declining consumer purchasing power coupled with a stronger monitoring of overall healthy (more convenient and fun) foods will be the key drivers of the frozen pizza, potato, and ready meal markets. Market
2011 Zpryme Research & Consulting, LLC
Trends
According to Zpryme (May 11) UK consumers opted more often for frozen pizza over restaurant dining as: a) pizza offerings have been more fun (e.g. more assortments like pineapple) b) can save money while being with family/friends (e.g. staying in and watching movie). According to Zpryme (June 11) UK parents are looking for varieties of frozen potato products with food manufacturers concealing additional veggies (also fortified vitamins and minerals). According to Zpryme (July 11) UK consumers have become more aware than ever of their growing waistline and dwindling pockets, shifting their taste for healthier (high protein, lower sugar/sodium) that offers value for money.
Frozen Pizza
Frozen Potatoes
Source: Zpryme
Harsh economic times combined with health and convenience will be the key drivers of the frozen pizza, potato, and ready meal markets.
Market
2011 Zpryme Research & Consulting, LLC
Trends
In 2010 about 68% of U.S. households consumed frozen pizza products, up about four percentage points since 2007. In 2010, the market leader in this category was Digorno. In 2010 about 64% of U.S. households consumed frozen potato products, up about three percentage points since 2007. The Ore-Ida brand of products is the market leader in the this category.
Frozen Pizza
Frozen Potatoes
In 2010 about 53% of U.S. households consumed frozen ready meals, up about five percentage points since 2007. Fresh or ready to eat meals in supermarkets have become a significant threat to the frozen ready meal market.
Source: Zpryme
Asia Pacific consumers will increasingly use frozen potatoes and ready meals in 2011 and 2012, creating strong opportunities for companies able to capture the attention of consumers in the region. Market
2011 Zpryme Research & Consulting, LLC
Frozen Pizza
Frozen Potatoes
Source: Zpryme
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CONFIDENTIAL AND PROPRIETARY 2011 Zpryme Research & Consulting, LLC Any duplication, reproduction, or usage of this document or any portion thereof without the written 14 consent of the firm is prohibited.