DUBAI, United Arab Emirates, April 02, 2023 (GLOBE NEWSWIRE) -- In 2023, the frozen fruits and vegetables market was estimated to be worth US$ 4.31 billion and was projected to expand at a CAGR of 6.7%. In 2033, it is expected that the frozen fruits and vegetables market is anticipated to be worth US$ 8.24 billion. Unseasonal fruits are likely to continue to grow in popularity because of their outstanding nutritional value and freshness on a worldwide scale.
Frozen Fruits and Vegetables are Difficult to Degrade when Exposed to Light, Heat, and Dust
Due to the numerous advantages of frozen produce, consumer demand for frozen fruits and vegetables is rapidly increasing. The process of freezing fruits and vegetables preserves their color, flavor, and nutritional value. It suppresses bacterial growth and delays decay by freezing the liquid that is left over.
Having been frozen, fruits and vegetables are also more resistant to deterioration brought on by difficult transport and exposure to light, heat, and dust. They have a lot to offer, including low cost, ease of preparation, and availability throughout the year.
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Preparation-free Food that Saves a Ton of Time Drives the Market Growth
Consumers are switching to frozen fruits and vegetables since they don't need to be cleaned, peeled, or chopped, because of extended work hours, growing health consciousness, and the incidence of lifestyle diseases.
While maintaining a high level of nutrition, they assist in cutting down on overall cooking time. As a result, producers are introducing distinctive product versions that use herbs and spices from regional produce to diversify their product lines and draw in a wide customer base.
Growing middle-class populations, particularly in Asian nations, with rising income levels, are positively influencing the frozen fruits and vegetables market expansion. In addition, consumers now favor using their credit or debit cards to pay for their online purchases to get over regional restrictions. This is giving the market's expansion a boost, working in tandem with the booming e-commerce sector.
Regional outlook
While the global frozen fruits and vegetables market is divided into five distinct geographical areas, including Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America.
The North American region has recently led the industry in terms of the industry share. North America's dominant position in the global market can be ascribed to the availability of strong and well-trained cold chain logistics facilities, as well as related infrastructure, in the region.
The market in Asia Pacific, on the other hand, is expected to increase at a considerable rate in future years, owing to the changing lifestyle and food preferences of the region's consumers.
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Key Takeaways
- During the projected period, the United States frozen fruits and vegetables market is expected to be worth US$ 6.9 billion.
- China is expected to reach a market size of US$ 5.6 billion over the forecast timeline, with a CAGR of 4%.
- Japan and Canada are expected to increase at 1.4% and 2%, respectively, throughout the predicted period.
- Germany's frozen fruits and vegetables market is expected to register a 1.8% CAGR through 2033.
- During the projection period, frozen tropical fruits accounted for more than 40.0% of the market.
- Frozen berries are predicted to record a CAGR of 7.5% between 2023 and 2033.
- During the forecast period, the offline segment I expected to dominate the market with a share of more than 80.0%.
- The online distribution channel is predicted to expand with a CAGR of 7.7% until 2033.
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Competitive Landscape
The research report thoroughly examines one of the most significant producers and businesses functioning in the global frozen fruits and vegetables market, as well as their present market positioning and market share.
Some of the top companies operating in the landscape of the global frozen fruits and vegetables market include Findus Sverige AB, Simplot Australia PTY Ltd., Pinnacle Foods Corp, Bondeulle Group, SunOpta, Inc., Fruktana Ltd., Breukers Schamp Foods, HJ Heinz, Ardo N. V., Dole, General Mills, Capricorn Food Products India, Ltd., Alasko Foods Inc.
According to recent studies, there is anticipated to be intense competition in the global market during the next few years.
Recent Developments
- In November 2021, Nestle released 'Wildspace.', which comprises a wide choice of healthy frozen meals packaged in reusable and recyclable containers. It provides at least six distinct types of meals.
- In September 2021, Grupo Bimbo added four frozen bakeries to its lines in the Argentina factory. This has proven to be a beneficial move as the company expands its export business in adjacent countries.
Key Segments
By Product Type:
- Frozen Vegetables
- Frozen Fruits
By Distribution Channel:
- Online
- Offline
By Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East Asia
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Table of Content
1. Executive Summary | Frozen Fruits and Vegetables Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Explore FMI’s Extensive Coverage on Food & Beverage Domain:
Frozen Food Market Size: The global frozen food market is anticipated to be valued at US$ 314,285 Million in 2022, forecast to grow at a CAGR of 6.7% to be valued at US$ 602,257 Million from 2022 to 2032.
IQF Fruits and Vegetables Market Demand: The IQF Fruits and Vegetable market is valued at USD 116.3 Billion in 2022 and is projected to grow at a CAGR of 3.6% during the forecast period, to reach a value of USD 165.7 Billion by 2032.
Canned Fruits Market Forecast: The global canned fruits market is projected to register at a moderate-paced CAGR of 1.9% over the forecast period. The canned fruits market is currently valued at US$ 9.95 Billion in 2023.
Freeze Dried Fruits Market Growth: According to Future Market Insights, the global freeze dried fruits market is expected to record a CAGR of 7.5% from 2023 to 2033.
Frozen Pet Food Market Share: The global frozen pet food market is expected to reach market valuation of US$ 14 Bn by 2022, with demand increasing at a CAGR of 5.1% over the assessment period.
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