Why Frozen Food Sales Continue to Grow Amidst a Recession
April 13, 2009 -- As of April 2009 the economy remains the No. 1 issue driving consumer purchasing patterns across virtually all consumer packaged goods (CPG) categories. In this world of compromise, frozen foods are emerging as the preferred medium between the extremes of frequently dining at restaurants and cooking time-consuming meals at home.
Estimates reveal that U.S. retail sales of frozen foods and beverages through all retail channels totaled almost $52 billion in 2008, according to "Frozen Foods in the U.S., 2nd Edition," a new report from market research publisher Packaged Facts. The figure reflects a 6.5 percent gain over the roughly $49 billion achieved in 2007.
This trend is good news for the at least 300 companies that market frozen foods in the United States. Nestle SA of Switzerland rings up more than $2 billion in retail sales of frozen foods in IRI-tracked outlets through its Nestlé USA and Dreyer's Grand Ice Cream Inc. subsidiaries. Meanwhile, ConAgra Foods Inc. and Kraft Foods Inc. each ring up more than $1 billion in frozen food sales.
According to Packaged Facts estimates based on data from Product Launch Analytics, a Datamonitor service, 624 new frozen foods -- comprising both single stock-keeping units (SKUs) or multiple SKU lines -- debuted in the United States in 2008. Convenience- and health-targeted introductions like these are expected to carry the market even after the recession is over. Packaged Facts projects that retail sales of frozen foods and beverages through all retail channels will reach almost $65 billion in 2013, an increase of more than 25 percent or $13 billion over 2008 revenues.
Click here to learn more about the frozen food market in the Unites States, including extensive retail sales breakouts, along with a thorough examination of market drivers, the competitive situation, marketer and brand shares, marketing trends, and consumer trends.
Estimates reveal that U.S. retail sales of frozen foods and beverages through all retail channels totaled almost $52 billion in 2008, according to "Frozen Foods in the U.S., 2nd Edition," a new report from market research publisher Packaged Facts. The figure reflects a 6.5 percent gain over the roughly $49 billion achieved in 2007.
This trend is good news for the at least 300 companies that market frozen foods in the United States. Nestle SA of Switzerland rings up more than $2 billion in retail sales of frozen foods in IRI-tracked outlets through its Nestlé USA and Dreyer's Grand Ice Cream Inc. subsidiaries. Meanwhile, ConAgra Foods Inc. and Kraft Foods Inc. each ring up more than $1 billion in frozen food sales.
According to Packaged Facts estimates based on data from Product Launch Analytics, a Datamonitor service, 624 new frozen foods -- comprising both single stock-keeping units (SKUs) or multiple SKU lines -- debuted in the United States in 2008. Convenience- and health-targeted introductions like these are expected to carry the market even after the recession is over. Packaged Facts projects that retail sales of frozen foods and beverages through all retail channels will reach almost $65 billion in 2013, an increase of more than 25 percent or $13 billion over 2008 revenues.
Click here to learn more about the frozen food market in the Unites States, including extensive retail sales breakouts, along with a thorough examination of market drivers, the competitive situation, marketer and brand shares, marketing trends, and consumer trends.