The sales of frozen dinners and nationality foods in the US showed varied trends over the past decade. In 2023, the sales stood at 19.187 billion USD. From 2013 to 2016, there was a mix of minor growth and slight decline. The market began to pick up more consistently from 2017 onwards. Comparing the variations of the last two years, 2022 had almost no growth at 0.12%, while 2023 saw a moderate increase of 2.04%. Over the last five years, the compound annual growth rate (CAGR) averaged around 2.22%.
Looking ahead, the forecast indicates a continued upward trend with a 5-year CAGR of approximately 1.41%, expecting the market to reach 21.011 billion USD by 2028. Future trends to watch for include increasing consumer demand for convenience and international flavors, ongoing product innovation, and the potential impact of economic factors on consumer spending habits.
