South Africa Frozen Food Market
South Africa Frozen Food Market - By Product (Fruits & Vegetables, Potatoes, Ready Meals, Meat, Fish/Seafood, Others); By Distribution Channel (Offline, Online), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
- Published Date: March 2023
- Report ID: BWC23205
- Available Format: PDF
- Page: 250
Report Overview
Growing need for prepared meals, bettering lifestyles, changing eating habits, and enormous demand for frozen food, because of the busy lifestyle of working women are expected to provide opportunities for the steady growth of South Africa Frozen Food Market during the forecast period between 2023 and 2029.South Africa Frozen Food Market - Industry Trends & Forecast Report, 2029
South Africa frozen food market size was estimated at USD 251.71 million in 2022. During the forecast period between 2023 and 2029, South Africa Frozen food market size is projected to grow at a CAGR of 3.17% reaching a value of USD 312.74 million by 2029. Major factors driving the growth of the market include consumers' growing preference for frozen food items due to the adoption of products with longer shelf lives, the enormous demand for ready-to-eat foods due to consumers' limited time for cooking fresh meals, and other factors. Also, a major factor in the expansion of the South Africa frozen food market is the rising use of frozen food in industry giants, such as KFC, Pizza Hut, Subway, McDonald's, as well as by restaurants, hotels, cafeterias, and resorts. Furthermore, the growing popularity of gluten-free, grain-free, protein-rich diets owing to the increasing health consciousness across the country propels the growth of South Africa frozen food market.
South Africa Frozen Food Market - Overview
Frozen food is a type of food product that is associated with rapid freezing by storing at low temperatures for an extended period until it is used. Preservatives are added to frozen foods to extend their shelf life. Frozen food contains a high concentration of nutrients, saves time and has a long shelf life, helps to prevent the spread of bacteria, and is useful in the home and restaurant to make cooking processes more efficient. Ice cream, chips, frozen vegetables, fruit, plain chicken, sausages, pizza, burgers, sweet corn, Desserts, bread, ready meals, and frozen snacks are examples of common frozen foods.
Growth Drivers
Rapid Urbanization and Investments in Smart Cities
Urbanization has increased significantly over the years. Because of the increased consumption of packaged or processed goods, urbanization is directly related to waste generation. Urbanization has a greater impact in developing countries than in developed countries. Due to a lack of awareness and the necessary infrastructure, a significant portion of waste is openly dumped in developing regions. National market expansion is also being aided by growing customer demand in frozen meat and seafood, frozen dairy products or snacks, and chilled soups and sausages.
Restraints
Increasing Popularity of Fresh and Natural Foods
Frozen food is viewed as a secondary substitute for fresh food by some consumers, which is the market's main constraint. Some consumers believe that food edible is stored or processed a year or more before consumption loses its nutritional value. However, according to the US Food Administration (FDA) and the International Food Information Council (IFIC), 'frozen food can be as nutritious as fresh and natural food. Because frozen food is kept at a low temperature, essential nutrients are not lost’. Furthermore, some consumers are more concerned with the freshness of the product and prefer fresh and natural fruit and vegetables, which is anticipated to limit the growth of frozen food market in South Africa.
Impact of COVID-19 on South Africa Frozen Food Market
Unexpected COVID-19 pandemic had both beneficial and adverse effects on the South Africa frozen food market's expansion. Sales initially fell as a result of numerous productions being stopped during the total lockdown, as well as a severe lack of raw materials and a stop to processing and distribution activities. However, the demand for frozen food climbed steadily as the COVID-19 virus spread due to its longer shelf life than fresh vegetables, fruits, and meat as well as its ability to retain nutrition. As a result of the lockdown restrictions, people are unable to leave their homes to access the marketplaces. South Africa frozen food market grew as a result of this pandemic's increased demand for frozen foods.
South Africa Frozen Food Market
Segmental Coverage
South Africa Frozen Food Market - By Product
Based on product, South Africa frozen food market is divided into Fruits & Vegetables, Potatoes, Ready Meals, Meat, Fish/Seafood, and other segments. The ready meals segment dominates the market. In terms of product, the ready meals segment is expected to account for the highest share of the frozen food market. This segment's high market share is attributed to changes in consumers' lifestyles as a result of the fast-paced work environment, particularly among the working-class population, and the growing preference for ready-frozen meals due to their convenience. Also, the rising popularity of ready meals among the younger generation and adolescent population, as well as their easy availability at various convenience stores and supermarkets, contribute to this segment's high market share.
South Africa Frozen Food Market - By Sales Channel
Based on sales channel, South Africa frozen food market is divided into Offline and Online segments. The offline segment is estimated to account for a higher market share. Convenience stores and hypermarkets have the infrastructure that includes freezing and temperature-controlled facilities, which is driving the growth of this segment as a distribution channel for frozen products.
Competitive Landscape
Competition in South Africa frozen food market is intense. Major competitors in the market include Unilever PLC, Nestlé S.A., General Mills, Inc, Nomad Foods Ltd., Tyson Foods Inc., and Conagra Brands Inc. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.
Recent Developments
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In November 2018 - Nestle launched Wildscape, a range of healthy frozen meals in reusable and recyclable containers. Wildscape meals include six different varieties, such as the gochujang cauliflower with Brussel sprouts, quinoa, chickpeas, pickled onions, riced cauliflower, and cashews.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2022 |
Base Year – 2022 |
|
Estimated Year – 2023 |
|
Forecast Period – 2023–2029 |
|
Facts Covered |
Revenue in USD Million |
Market Coverage |
South Africa |
Product/ Service Segmentation |
Product, Sales Channel |
Key Players |
Unilever PLC, Nestlé S.A., General Mills, Inc, Nomad Foods Ltd., Tyson Foods Inc., Conagra Brands Inc. |
By Product
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-
Fruits & Vegetables
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Potatoes
-
Ready Meals
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Meat
-
Fish/Seafood
-
Others
-
By Distribution Channel
-
-
Offline
-
Online
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- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- South Africa Frozen Foods Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Rising Demand for Convenience Food
- Advancements in Technology
- Restraints
- Growing Preference for Fresh and Natural Food Products
- Opportunities
- Digitalization of the Retail Industry
- Challenges
- Lack of Cold Chain Infrastructure
- Growth Drivers
- Technology Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- South Africa Frozen Foods Market Overview
- Market Size & Forecast, 2019–2029
- By Value (USD Million)
- Market Share & Forecast
- By Product
- Fruits & Vegetables
- Potatoes
- Ready Meals
- Meat
- Fish/Seafood
- Others
- By Distribution Channel
- Offline
- Online
- By Product
- Market Size & Forecast, 2019–2029
- Competitive Landscape
- List of Key Players and Their Offerings
- South Africa Frozen Foods Company Market Share Analysis, 2022
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Covid-19 on South Africa Frozen Foods Market
- Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- Unilever PLC
- Nestlé S.A.
- General Mills, Inc
- Nomad Foods Ltd.
- Tyson Foods Inc.
- Conagra Brands Inc.
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumptions & Limitations
- Qualitative Research
*Financial information in case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 South Africa Frozen Foods Segmentation
Figure 2 South Africa Frozen Foods Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 South Africa Frozen Foods Market Size, By Value (USD Million), 2019–2029
Figure 5 South Africa Frozen Foods Market Share, By Product, By Value, 2019–2029
Figure 6 South Africa Frozen Foods Market Share, By Distribution Channel, By Value, 2019–2029
List of Tables
Table 1 South Africa Frozen Foods Market Size, By Value (USD Million), 2019–2029
Table 2 South Africa Frozen Foods Market Size, By Product, By Value, 2019–2029
Table 3 South Africa Frozen Foods Market Size, By Distribution Channel, By Value, 2019–2029
Table 4 Unilever PLC Company Overview
Table 5 Unilever PLC Financial Overview
Table 6 Nestlé S.A. Company Overview
Table 7 Nestlé S.A. Financial Overview
Table 8 General Mills, Inc Company Overview
Table 9 General Mills, Inc Financial Overview
Table 10 Nomad Foods Ltd. Company Overview
Table 11 Nomad Foods Ltd. Financial Overview
Table 12 Tyson Foods Inc. Company Overview
Table 13 Tyson Foods Inc. Financial Overview
Table 14 Conagra Brands Inc. Company Overview
Table 15 Conagra Brands Inc. Financial Overview
Market Segmentation
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