A report by Allied Market Research suggests that the frozen food market is “expected to garner $306 billion by 2020” with a CAGR of 4.1% for the 2015-2020 period. Quite the turnaround from the prior decade of declining frozen food sales fueled by greater public awareness of the latest health and dietary trends. Let’s take a look at some factors that are going to keep the display freezers well stocked in the coming years.
Fresh and the Age of Instagram
The camera eats first, you know the rules. Instagram—if not for nothing, has created a whole lifestyle of fresh eats and aesthetic treats that can be posted and shared online. Social media has had a tremendous impact on organic eating and “wellness” as a way of life with users being strongly incentivized to eat and cook healthy foods. Given time, this trend continued for quite a few years alongside the social media and smartphone boom. Becoming an “influencer” became a known job and through them, this lifestyle and associated product marketing and health consciousness trickled down to consumers.
All in the Ingredients
Hydrogenated oils, high fructose corn syrup (HFC’s), artificial sweeteners such as acesulfame-potassium (“ace-k”), aspartame and sucralose are just a few ingredients that people have started to actively avoid by reading product labels and nutritional facts. Many frozen foods of yesterday included these items as they made them cheap to manufacture and palatable.
However, market demand has shifted towards more health conscious foods that are lower calorie but also appeal to modern sensibilities in regards to macronutrient content.
Conagra Foods has been noted for adapting many of their old products and refashioning them into more health conscious or premium varieties which has led to their “Refrigerated & Frozen segment continuing its positive momentum in the third quarter, with net sales growth of 3.3% and organic net sales growth of 2.4%”.
If their $10.9B acquisition of Pinnacle Foods is anything to go by, the display freezers are going to be a hotly contested zone in the years to come. Pinnacle Foods is known for their brand Bird’s Eye, which offers up frozen vegetables in supermarkets. Frozen vegetables have been one category of frozen food that has experienced a boom in popularity as studies have come out denoting that the nutrient content of frozen vegetables is similar to—even better than, in some cases, fresh veggies. The reason for this is attributed to the freezing process which purportedly helps retain nutritional value as they are frozen close to the time of harvest, resulting in less quality degradation.
The Frozen Food market has been adjusting to match the tastes and preferences of Millennials and Gen-Z and it shows. Just a mere 5-10 years ago it would be unusual, to say the least, to find quinoa and edamame in frozen dinner meals. The rows of display freezers in grocery stores and supermarkets around the country were lined with decadent meals like mac n’ cheese and lasagna. The virtues of protein and fats have been preached to greater and greater levels, while carbs have taken a backseat. Many frozen meals are more health-oriented items such as power bowls which contain large amounts of protein or products that appeal to vegans, as well as those who are searching for gluten-free options.
Quality Cooling Solutions
Suddenly, for the time-challenged, there are options available for quick and easy eats that won’t eat away at your conscience. It’s clear that frozen food is experiencing a revitalization due to an increased focus on healthful options. Now is the time to make a good investment in quality display freezers and coolers. Excellence Industries is a dedicated provider of cooling solutions such as horizontal and vertical coolers as well as storage units. Contact us here to reap the benefits of this renewed interest in frozen foods.