Frozen Food Production in China - Market Research Report (2014-2029)
Beijing, China
Last Updated: May 2024
1432Revenue
$27.1bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
258k
Businesses
1,332
Wages
$X.Xbn
Frozen Food Production in China industry analysis
The Frozen Food Production industry in China developed rapidly in the past decade. Over the five years through 2023, industry revenue is expected to increase an annualized 7.2% to $27.1 billion, including an 6.5% increase in the current year. This growth is mainly due to higher disposable incomes, higher product prices and changing consumption trends caused by the faster pace of modern life. A wider variety of frozen foods, product quality improvements, high growth of mid- and high-end product segments and the development of new markets has also contributed to this growth. Profit margins reached 6.8% of industry revenue in 2023.As competition in the frozen food market heats up, manufacturers are investing more in product innovation and production capability. The market for high-end frozen food is large and growing. As manufacturers improve the taste and nutrition of these products, the proportion of mid-range and high-end products produced by the industry will increase. Manufacturers have also started to pay more attention to niche markets in China's counties, towns and some developed rural areas.Over the five years through 2028, industry revenue is forecast to increase at an annualized 5.9% to $36.1 billion as product innovation and promotion accelerates. At the same time, manufacturers will increasingly invest in brand building and establish sales agents and companies in China's less urbanized areas. Industry concentration is also expected to rise as the number of mergers and acquisitions increases.
Trends and Insights
- Rising disposable income increases market demand. The increasing disposable income makes residents have more demand for products in the industry.
- Frozen dumplings are the largest product segment. Dumpling products are more varied and abundant, helping frozen dumplings to dominate the overall product structure.
- Shandong is an important consumer market. Shandong is a coastal port city and a raw material supply base, and it is the largest consumer province in the industry.
- Customers choose products with high brand recognition. People are beginning to pay more attention to the nutrition and quality of food thanks to improved living standards and health consciousness.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 7.2 % over the past five years, to reach an estimated $27.1bn in 2024.
Trends and Insights
Rising disposable incomes are boosting demand
- Higher disposable incomes, higher product prices and changing consumption trends caused by the faster pace of modern life have driven this growth.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Domestic demand is anticipated to continue rising
- Due to the increased development of China's economy, the faster pace of modern life and the greater variety in frozen food options, domestic demand is expected to continue to increase rapidly.
Biggest companies in the Frozen Food Production in China
| Company | Market Share (%)
2023 | Revenue ($short_0)
2023 |
|---|
There are no companies that hold a large enough market share in the Frozen Food Production in China industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Frozen dumplings, Frozen glutinous sweet dumplings and Frozen glutinous rice dumplings. Frozen dumplings is the largest segment of the Frozen Food Production in China.
Trends and Insights
The variety and revenue of frozen dumplings is rising
- Frozen dumplings are a kind of food that can be eaten at any time by freezing wrapped dumplings.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Bread & Bakery Product Manufacturing in China
- Canned Food Production in China
Complementors
- There are no industries to display.
International industries
- Global Fruit & Vegetable Processing
- Global Soft Drink & Bottled Water Manufacturing
- Frozen Food Production in the US
- Frozen Fruit & Juice Production in the US
- Frozen Pizza Production in the US
Table of Contents
About this industry
Industry definition
Companies in the industry manufacture food that can be transported, stored and sold frozen. Using rice, flour and grains as the main raw ingredients and auxiliary products such as meat and vegetables, operators in this industry manufacture various cooked and uncooked foods. These foods are then immediately frozen and packaged. Frozen seafood and frozen dairy products are excluded from this industry.
What's included in this industry?
Frozen dumplingsFrozen glutinous sweet dumplings Frozen glutinous rice dumplingsFrozen steamed bun and othersCompanies
Purchase this report to view all major companies in this industry.
Related Terms
WONTONSDUMPLINGHAZARD ANALYSIS CRITICAL CONTROL POINT (HACCP)Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Rising disposable income increases market demand. The increasing disposable income makes residents have more demand for products in the industry.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Frozen dumplings are the largest product segment. Dumpling products are more varied and abundant, helping frozen dumplings to dominate the overall product structure.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Shandong is an important consumer market. Shandong is a coastal port city and a raw material supply base, and it is the largest consumer province in the industry.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Customers choose products with high brand recognition. People are beginning to pay more attention to the nutrition and quality of food thanks to improved living standards and...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Customers recognize brand and quality. Word-of-mouth and good corporate image allows companies to obtain the general recognition and trust of consumers, and enterprises with ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Rising disposable income per capita has stimulated the industry. Frozen food demand is highly elastic, household disposable income largely influences market demand.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Rising costs lead to falling profits. The rise in labor costs, administrative and selling expenses have increased cost pressure on enterprises and reduced profitability.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in China include:
- National Bureau of Statistics China
- General Administration of Customs
- People’s Bank of China
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Frozen Food Production industry in China in 2024?
The market size of the Frozen Food Production industry in China is $27.1bn in 2024.
How many businesses are there in the Frozen Food Production in China industry in 2024?
There are 1,332 businesses in the Frozen Food Production industry in China, which has grown at a CAGR of 7.1 % between 2019 and 2024.
Has the Frozen Food Production industry in China grown or declined over the past 5 years?
The market size of the Frozen Food Production industry in China has been growing at a CAGR of 7.2 % between 2019 and 2024.
What is the forecast growth of the Frozen Food Production industry in China over the next 5 years?
Over the next five years, the Frozen Food Production industry in China is expected to grow.
What does the Frozen Food Production in China include?
Frozen dumplings and Frozen glutinous sweet dumplings are part of the Frozen Food Production industry.
How competitive is the Frozen Food Production industry in China?
The level of competition is moderate and increasing in the Frozen Food Production industry in China.
