Refrigerated foods and the many subcategories they represent were among the bright spots in 2022, as consumers sought more value for their dollar and continued to dine and entertain at home more often.
The U.S. food and beverage market grew by about 8% last year, far exceeding historic norms, according to IRI, a Chicago-based data analytics and market research company.
Sales of refrigerated dairy products, fresh and organic meats and deli and prepared foods all saw increases in consumer spending in 2022, despite inflationary pressure.
An IRI Shopper Survey conducted last fall found that 94% of respondents said they are concerned about food cost inflation and more than three-quarters said they are making changes – such as looking for sales or cutting back on non-essentials – to curb food spending.
Below is Refrigerated & Frozen Foods’ Top 25 Refrigerated Foods Processors Report, a list of the Top 5 companies in each category: Meat & Poultry; Dairy; Dips & Spreads; Fruits & Vegetables; and Entrées, Sides & Prepared Foods. This report represents Refrigerated & Frozen Foods’ best efforts to reflect recent sales data based on annual reports, news releases, and statistics from our sister publications, Dairy Foods and National Provisioner, and other business media sources. Because most companies do not separate refrigerated sales from frozen (or even cold foods from shelf-stable) sales figures are all company-wide. If you work for a company on this list and know the approximate sales data of the refrigerated products your business produces, please contact me to update this page.
Significant Events in Meat & Poultry in 2022
- Hodie Meats opened a state-of-the-art further processing facility in Alto, Georgia, to serve a national customer base. The all-fresh-meat, USDA-grade facility receives processed chicken from area integrators for portion cutting and co-packing.
- BELIEVER Meats broke ground on a $123-million production facility in North Carolina, believed to be the world’s largest cultivated meat production center in the world.
- Godshall’s Meats won the R&FF 2022 Best New Refrigerated Retail Products contest, with its beef bacon product being voted No. 1.
- Upside Foods became the first company to receive the FDA’s ‘green light’ for cultivated meat.
- Maple Leaf Foods opened a new poultry plant in Ontario, to meet Canadians’ appetite for chicken, the country’s most consumed and fasted-growing meat protein.
Rank | Company Name | HQs | Top Executive | 2021-2022 Company-Wide Sales | FY End | Refrigerated Products | Total Plants** |
1 | Tyson Foods Inc. | Springdale, AR | Donnie D. King, President & CEO | $53B | 10/3/2022 | Poultry, beef, pork, processed meats | 123 |
2 | JBS USA | Greeley, CO | Andre Nogueria, CEO | $39.3B | 12/31/2022 | Beef, pork, processed meats | 63 |
3 | Cargill Protein North America | Wichita, KS | Brian Sikes, President & CEO | $20B* | 5/31/2022 | Pork, poultry, processed meats | 36 |
4 | Smithfield Foods, Inc. | Smithfield, VA | Shane Smith, President & CEO | $16B* | 12/29/2022 | Pork, processed meats | 40 |
5 | Hormel Foods Corp. | Austin, MN | Jim Snee, Chairman, President & CEO | $12.4B | 10/25/2022 | Beef, pork, poultry, processed meats | 40 |
*FY 2022 not available at press time or company declined to confirm figures.
**Not all plants produced refrigerated products.
Significant Events in Dairy in 2022
- Specialty Dairy Manufacturers Jackson-Mitchell and Redwood Hill Farm & Creamery merged, forming Darey Brands.
- V&V Supremo Foods purchased Wisconsin-based Mill Creek Cheese, allowing the company to increase production of its Mexican cheeses and chorizo.
- Emmi Roth announced plans for a new HQ and cheese conversion facility in Wisconsin.
- Nestlé unveiled plans for a new $675-million coffee creamer factory in Arizona to support its Coffee mate and Starbucks brands.
Rank | Company Name | HQs | Top Executive | 2021-2022 Company-Wide Sales | FY End | Refrigerated Dairy Products | Total Plants** |
1 | Nestlé, Zone Americas | Arlington, VA/North York, Ontario, Canada/Mexico City, Mexico | Laurent Freixe, CEO, Zone Americas | $34B* | 12/31/22 | Milk-based beverages and milk products, coffee creamers | 114 |
2 | Kraft Heinz Co. | Chicago, IL; Pittsburgh, PA | Miguel Patricio, CEO | $26.4B | 12/31/22 | Cheese, cream cheese, sour cream, cottage cheese | 80 |
3 | General Mills | Minneapolis, MN | Jeff Harmening, CEO & Chairman | $18.9B | 5/31/22 | Yogurt | 24 |
4 | Saputo Inc. | Montreal, Québec, Canada | Lino Saputo, Jr., Chairman & CEO | $15B | 3/31/22 | Cheese, milk, cream, butter, yogurt, cottage cheese | 47 |
5 | Conagra Brands | Chicago, IL | Sean Connolly, President & CEO | $11.5B | 5/31/22 | Whipped cream/topping, butter | 42 |
*FY 2022 not available at press time or company declined to confirm figures.
** Not all plants produce dairy products.
Significant Events in Dips & Spreads in 2022
- Litehouse and Fresh Cravings were among the companies that expanded their lineups of dips and spreads in 2022.
- Ithaca Hummus launched a first-of-its-kind hummus in a squeezable, kid-friendly pouch.
- Violife introduced its first product outside of plant-based cheese, adding three plant-based dips to its line.
Rank | Company Name | HQs | Top Executive | 2021-2022 Company-Wide Sales | FY End | Refrigerated Dips & Spreads Products | Total Plants* |
1 | Hormel Foods | Austin, MN | Jim Snee, Chairman, President & CEO | $12.4B | 10/24/22 | Dips, spreads | 40 |
2 | Reser's Fine Foods | Beaverton, OR | Mark Reser, President & CEO | $1.63B* | N/A | Dips, spreads | 13 |
3 | T. Marzetti Co. | Westerville, OH | Dave Ciesinski, President & CEO | $1.7B | 6/30/2022 | Salad dressing, dips | 14 |
4 | Sabra Dipping Co. | White Plains, NY | Joey Bergstein, President & CEO | $300M* | 12/26/2022 | Dips, spreads | 1 |
5 | Sandridge Food Corporation | Medinah, OH | Mark Sandridge, CEO | $225M* | 11/30/2022 | Dips, spreads | 2 |
*FY 2022 not available at press time or company declined to confirm figures.
**Not all plants produce refrigerated dips and spreads.
Significant Events in Fruits & Vegetables in 2022
- Square Roots announced a partnership with GFS, including a new Kentucky indoor farm.
- Revol Greens opened a new Texas greenhouse, with plans to double romaine lettuce production.
- Lineage Logistics launched a new service aimed at expanded produce services.
- Little Leaf Farms raised $300 million in capital to expand its production and distribution of locally-grown lettuces.
- Sysco acquired The Coastal Companies, a fresh produce distributor and processor.
Rank | Company Name | HQs | Top Executive | 2021-2022 Company-Wide Sales | FY End | Refrigerated Products | Total Plants** |
1 | Dole Food Co. | Westlake Village, CA | Johan Linden, President & CEO | $4.7B* | 12/31/2022 | Fresh-cut produce, packaged salads | 5 |
2 | Fresh Del Monte Produce Inc. | Coral Gables, FL | Mohammad Abu-Ghazaleh, Chairman & CEO | $4.5B* | 12/28/2022 | Fresh-cut produce, packaged salads | 24 |
3 | Chiquita Brands LLC | Fort Lauderdale, FL | Carlos Lopez Flores, President | $4B* | 12/31/2022 | Fresh-cut produce, fruit snacks | 5 |
4 | Bonduelle Fresh Americas | Irwindale, CA | Andrea Montagna, CEO | $3.5B* | 6/30/2022 | Fruits, vegetables, packaged salads | 4 |
5 | Taylor Farms | Salinas, CA | Bruce Taylor, CEO | $3B* | 12/31/2022 | Fresh-cut produce, packaged salads | 16 |
*FY 2022 not available at press time or company declined to confirm figures.
**Not all plants produce refrigerated foods.
Significant Events in Entrées, Sides & Prepared Foods in 2022
- Michigan-based Steve’s Mediterranean began distributing its prepared foods, including grape leaves and hummus in Kroger stores.
- Bob Evans Farms expanded its popular refrigerated side dish line to include two flavors of mashed cauliflower.
Rank | Company Name | HQs | Top Executive | 2021-2022 Company-Wide Sales | FY End | Refrigerated Products | Total Plants** |
1 | Kraft Heinz Co. | Chicago, IL; Pittsburgh, PA | Miguel Patricio, CEO | $26.4B | 12/31/22 | Lunch combinations | 80 |
2 | General Mills | Minneapolis, MN | Jeff Harmening | $18.9B | 5/31/22 | Breakfast items | 24 |
3 | Hormel Foods Corp. | Austin, MN | Jim Snee, Chairman, President & CEO | $12.4B | 10/24/22 | Side dishes, sandwiches | 40 |
4 | Conagra Brands Inc. | Chicago, IL | Sean Connolly, President & CEO | $11.5B | 5/31/22 | Side dishes | 42 |
5 | Reser's Fine Foods Inc. | Beaverton, OR | Mark Reser, President & CEO | $1.63B* | N/A | Deli salads, side dishes, dips/spreads | 14 |
*FY 2022 not available at press time or company declined to confirm figures.
**Not all plants produce prepared foods.