Disney has officially announced that there will be a "Frozen 2" during the Walt Disney Co.'s annual shareholders meeting in March. Fans are raving about it ever since with the hope that the much loved Disney animation is expected to return to the big screen before 2018.

John Lasseter, chief creative officer of Walt Disney and Pixar Animation Studios, made the announcement with Disney chief Bob Iger, and Josh Gad, who voices the character of Olaf in "Frozen."

"We enjoyed making 'Frozen Fever' so much and being back in that world with those characters," Lasseter said. "Jennifer Lee and Chris Buck have come up with a great idea for a sequel and you will be hearing a lot more about it and we're taking you back to Arendelle. We are so excited about that."

Although Disney kept mum on what the plot is going to be for "Frozen 2" that doesn't stop the fans from speculating and making theories on what will happen to their beloved characters.

Elsa could find romantic love in the sequel. The rumor mill further stated that Elsa might find her own "Prince Charming" in the character of Olaf. Pixel star Josh Gad talked in IGN about the future of animated fairytale "Frozen," revealing that the filmmakers are currently busy breaking down the story for Frozen 2, and stated that there won't be an Olaf spin-off until there's a reason to do it. 

In the first film the evil characters are Hans and the Duke of Weselton. For "Frozen 2" the fans can expect new characters that will try to steal Anna and Elsa's happily ever after. Movie Pilot speculates that the next film may feature not just a primary villain - which many rumors suggest will be a fire-based sorcerer that can counter Elsa's ice-based capabilities - but also a secondary antagonist in the person of Anna.  

Since the first movie did not divulge the origins of the Ice Queen's magic, followers want to know how did the Elsa discovered her power. This might lead to a story with Elsa and Anna's parents as the focus.

Stars, Idina Menzel (Elsa), Kristen Bell (Anna), Josh Grad (Olaf) and Jonathan Groff (Kristoff) reportedly are back on board and will reprise their beloved characters. Eva Bella, the talented 13-year-old who lent her voice to the young Elsa, is also back.

Frozen grossed $400 million in the U.S. and more than $1.2 billion worldwide. The soundtrack became an international ear worm, the characters became theme-park favorites, and the filmmakers behind the original film, Jennifer Lee and Chris Buck, have already completed a short follow-up, "Frozen Fever."