Frozen food is one of the most familiar frozen foods to Chinese people. As an essential part of the Chinese table, frozen food occupies an irreplaceable position in people's lives. Frozen food market size grew from 2.6 trillion yuan in 2010 to 4 trillion yuan in 2022, with a compound growth rate of 10.6%. According to estimates, in 2022 China's frozen food market size of about 900 billion yuan. With the trend of consumption upgrading gradually clear, more and more enterprises have turned their attention to the frozen food field. Frozen food has a long history of development in China, and has now become one of the daily consumption of food in China's families.

I, industry overview

With the continuous improvement of people's living standards, frozen food has gradually become one of the essential food on the table. In China, the use of frozen food in the catering field is mainly divided into two categories: one is catering frozen food; the other is catering frozen food derivatives. Catering frozen food refers to catering foodstuffs processed with frozen food as raw material and processed by cooking to make catering foodstuffs with frozen food as the main foodstuff and containing other frozen foodstuffs at the same time.

Second, the industry development trend and competitive landscape

The frozen food industry is currently relatively decentralized and less concentrated competitive landscape. According to Frost & Sullivan's data, China's frozen food industry, the top ten companies with a combined market share of 73.9%, of which the top three market share of 57.4%, the leading companies accounted for a relatively low market share. From the point of view of subcategories, frozen gourmet (i.e., frozen food) market steamed buns, noodles, dumplings and other steamed buns; frozen dumplings (i.e., dumplings) market dumpling series of dumpling powder, dumplings and other products such as frozen buns and cakes.

Three, the industry's development outlook: BC two-wheel drive, hundreds of billions of big game

The development of frozen food is closely related to the lives of the Chinese people, but the growth rate of its market size is not obvious, which is related to China's population base, per capita GDP and other factors, frozen food industry is still in the growth period and there is a large space for growth. Frozen food industry has experienced more than 20 years of development, from the early instant noodles to the later frozen steamed buns and other convenience products, and then to the current frozen prepared food and snack foods and other product development and innovation, the industry has experienced the evolution from scratch, but also witnessed the continuous expansion of the market scale. Frozen food enterprises continue to improve the layout of the industrial chain, improve product quality level, so as to occupy a place in the market.