The refrigerated and frozen categories are ushering in new options for consumer convenience, chef-inspired ingredients and custom offerings suited to a variety of dietary and budget needs.

Last year F&B sales saw volume growth for the first time in three years, according to Circana research. In its 2025 outlook, Circana anticipates the food and beverage industry will see an overall increase between 2% and 4% in dollar sales (volume sales growth between 0% and 1%).

Manufacturers and retailers are both “facing stressed margins and increased public scrutiny on grocery prices, requiring them to balance value and incremental offerings,” the report said. “Consumers shopping with a value mindset will likely continue shifting where the volume growth opportunity sits.”

Sales of store brands increased to a record $271 billion last year, according to the Private Label Manufacturers Association (PLMA). Over the past four years, annual store brand dollar sales have witnessed a 23.6% gain, according to the PLMA. Refrigerated (+7.5%), General Food (+4.3%) and Beverages (+4%) had some of the highest growth.

Momentum for refrigerated and fresh foods continue to grow, with categories increasingly appearing in center aisles and appealing to convenience and health minded consumers. The ready-to-eat market is among the fastest-growing segments in the F&B industry, largely fueled by refrigerated meals and sides, and is expected to climb to $391 billion over the next 10 years, according to Future Markets, Inc.

Consumer research released by the National Frozen and Refrigerated Foods Association (NFRA) underscores the importance of refrigerated and frozen foods in American households:

• 71% of shoppers favor ready-to-eat meal sections and quick prep options in grocery stores.
• 83% of shoppers say frozen foods make meal planning easier.

Cold food companies continue to invest in food manufacturing.

New plants opened so far in 2025 include a $200 million Milo’s Tea Company production site in South Carolina and a Georgia indoor farm facility for BrightFarms spanning 1.5-million square feet. Chobani last month broke ground on a $1 billion dairy plant in upstate New York and is currently expanding its Idaho processing facility.

The transportation and logistical landscape for refrigerated and frozen foods continues to adapt, led by the Lineage IPO last summer. The world’s largest global temperature-controlled warehouse REIT began trading as a Nasdaq-listed company, raising over $4 billion during its initial public offering.

Other cold storage developments announced this year include:

• FreezPak opened its 14th facility in Jacksonville, Florida, near JAXPORT.
• CORE X Partners opened a 215,000-square-foot site in Indiana.
• Coastal Cold Storage opened the first phase of a three-phase development in Missouri.
• Interstate Warehousing broke ground on an expansion of its Arizona facility.
• Vertical Cold opened a new warehouse in Kansas City.

Our Rankings

Refrigerated & Frozen Foods’ annual Top 150 Frozen Foods Processors Report is a snapshot of the top 25 frozen foods processors in six categories: Meat, Poultry & Seafood; Dairy; Meals & Entrees; Snacks, Apps & Sides; Fruits & Vegetables; and Bakery. This year we also included the top five refrigerated processors across five categories.

This report represents R&FF’s best efforts to reflect recent sales data based on annual reports, news releases, and statistics from our sister publications and other business media sources. Because most companies do not separate refrigerated and frozen category sales from their total sales, the figures are either company-wide or segmented by region (North American sales, for example).

Highlights in Meat, Poultry & Seafood

Tyson Foods reported sales of over $53 million, up .8% from the prior year, while JBS cited increased protein demand in both domestic and international markets, with 2024 sales driven by poultry and pork.

Cargill recorded company-wide sales of $160 billion, down about 10% from the previous fiscal year. As a result, the company announced plans to cut 5% of its global workforce, about 8,000 jobs.

Other recent headlines in refrigerated and frozen meat, poultry & seafood include:

• Young American Food Brands acquired Best Provision Co., Inc., with plans to expand into the RTE meats category
• Stampede Culinary Partners, Inc. opened new test kitchens at production facilities in New Mexico and Georgia, enhancing the sous vide company's capacity to develop, test and refine food solutions for its global customer base.
• Premium Brands Holdings Corporation acquired three protein processors and manufacturers.

Highlights in Dairy

In its annual report, Saputo said it will focus on capital projects supporting North American growth, including ramping up production at a new, automated facility in Franklin, Wisconsin. As part of its “cheese network transformation,” the company plans to shutter four facilities in California, South Dakota and Wisconsin.

Other recent headlines in refrigerated and frozen dairy include:

• Hispanic foods producer Marquez Brothers International, Inc. acquired Hato Potero Farms, owner of YoGusto, one of the leading drinkable yogurt brands in the Southeast.
• Lakeview Farms merged with noosa Holdings, Inc., operating as a new company, Novus Foods. The combined product offerings include popular brands such as noosa yogurt, Fresh Cravings, La Mexicana, Señor Rico and Salads of the Sea.
• Lactalis USA announced a $55 million expansion at its California feta cheese production facility.

Highlights in Meals & Entrees

In its fiscal ’24 results, Nestlé cited underperformance in the frozen and coffee creamer categories in North America, calling the growth disappointing. The company last fall launched Vital Pursuit, a frozen brand designed specifically for GLP-1 users. Nestlé said it is using AI and digital tools to find efficiencies in areas like plant maintenance and energy usage and pointed to premium pet care and confectionary – including the refrigerated Toll House cookie brand – as bright spots.

Conagra attributed a 4% decrease in volume across its refrigerated and frozen segments to lower consumption trends. Its second annual Future of Frozen report outlined ways the rise in GLP-1 medications will impact product innovation in the $90+ billion frozen food space.

Kraft Heinz saw net sales slide by 3% last year.

Other recent headlines in refrigerated and frozen meals & entrees include:

• The J.M. Smucker Co. opened a 900,000-square-foot factory for its popular frozen handheld brand Uncrustables.
• Frozen breakfast manufacturer MBC Companies acquired Nardone Brothers Baking Co., a manufacturer of frozen pizza products serving the K-12, private label retail, and foodservice channels.

Highlights in Snacks, Appetizers & Side Dishes

Recent headlines in refrigerated and frozen snacks, apps & sides include:

• Lakeview Farms merged with noosa Holdings, Inc., operating as a new company, Novus Foods. The combined product offerings include popular brands such as noosa yogurt, Fresh Cravings, La Mexicana, Señor Rico and Salads of the Sea.
• Post Holdings, Inc. acquired Potato Products of Idaho, a manufacturer and packager of refrigerated and frozen potato products. The acquisition includes a manufacturing facility in Rigby, Idaho.
• PepsiCo, Inc. acquired the remaining 50% interest in Sabra Dipping Company, LLC, becoming the sole owner of these companies, which make Sabra and Obela products.

Highlights in Fruits & Vegetables

The U.S. Senate and House of Representatives in March introduced legislation including frozen fruits and vegetables in nutrition incentive programs. The Supporting All Healthy Options When Purchasing Produce (SHOPP) Act would help lower-income households enjoy access to more fruits and vegetables through the Supplemental Nutrition Assistance Program (SNAP) and the Gus Schumacher Nutrition Incentive Program (GusNIP).

Other recent headlines in refrigerated and frozen fruits & vegetables include:

• Frozen vegetable processor Lakeside Foods purchased the business assets of Oregon-based Smith Frozen Foods, including a production facility and Garrett Packing/Brittany Farms operations.
• Little Leaf Farms became the fastest growing packaged lettuce brand in the U.S.

Highlights in Bakery

Recent headlines in refrigerated and frozen bakery include:

• One Equity Partners acquired CraftMark Bakery, a supplier of bakery products for quick service restaurants and in-store retail bakeries.
• Sammontana Italia Group aims to expand into foreign markets through acquisitions in the frozen pastry sector, including Canadian-based La Rocca Creative Cakes.