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Carrot Market Research Report: Information By Type (Fresh and Frozen), By Distribution Channel (Offline and Online), And by Region (North America, Europe, Asia-Pacific, And Rest of The World) –Market Forecast Till 2032.


ID: MRFR/AGR/20208-CR | 128 Pages | Author: Harshita Gorade| May 2024

Carrot Market Overview


Carrot Market Size was valued at USD XX Billion in 2022. The Carrot Market industry is projected to grow from USD XX Billion in 2023 to USD XX Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2024 - 2032). The rising popularity of baby carrots as a healthier snack option compared to junk foods, heightened demand for organic carrots and carrot juices, and the growing consumer preference for healthy food choices and products are expected to be a significant market driver for the Carrot Market.


Carrot Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Carrot Market Trends


Rising awareness about the health benefits of carrots and increasing demand for baby carrots are driving the market growth.


Market CAGR for carrots is driven by the rising awareness about the health benefits of carrots and increasing demand for baby carrots. From 2017 to 2023, the production value of carrots for both fresh consumption and processing in the United States surged by more than 160 percent. Beginning at approximately 696 million U.S. dollars in 2017, the production value escalated annually, peaking at over 1.82 billion U.S. dollars in 2023. In Japan, the production volume of carrots totaled around 636 thousand tons in 2021, marking a slight uptick compared to the previous year's output of about 586 thousand tons.


Baby carrots are created by peeling and cutting longer carrots into smaller sizes. The primary demand for baby carrots comes from the United States, Germany, Canada, the United Kingdom, France, and China. In 2019, baby carrots accounted for 54% of the sales in the US carrot market. Bolthouse Farms and Grimmway Farms are the top producers of baby carrots in the United States. In 2019, Bolthouse launched the "Baby Carrots - Eat Em Like Junk Food" test campaign, which aimed to promote carrot consumption by modifying packaging to resemble junk food packaging offering a low-calorie and nutritionally superior alternative. The baby carrot market is experiencing rapid growth in China due to increased awareness of the health benefits of consuming raw baby carrots, leading to an overall rise in baby carrot consumption. In China, children enjoy baby carrots as snacks, while mothers view them as nutrient-rich supplements for their children. As a result, it is anticipated that throughout the projection period, demand for the Carrot Market will increase due to the rising awareness about the health benefits of carrots and increasing demand for baby carrots. Thus, driving the Carrot Market revenue.


Carrot Market Segment Insights:


Carrot Market Type Insights


The Carrot Market segmentation, based on Type includes Fresh and Frozen. The fresh segment dominated the market, accounting for 58% of market revenue. There is an emerging trend favoring fresh, minimally processed foods over canned or frozen options. Fresh carrots are perceived to offer superior taste, texture, and nutritional value compared to their processed counterparts. This preference is a key factor fueling the demand for fresh carrots in the market.


Figure 1: Carrot Market, by Type, 2023 & 2032 (USD Billion)


 


Carrot Market, by Type, 2023 & 2032 (USD Billion)


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Carrot Market Distribution Channel Insights


The Carrot Market segmentation, based on Distribution Channels includes Offline and Online. The offline segment dominated the market, accounting for 58% of market revenue. Even with the increasing popularity of online grocery shopping, a considerable number of consumers continue to favor buying fresh produce like carrots from brick-and-mortar stores. The tactile experience of handpicking fruits and vegetables and the opportunity to personally assess the quality and freshness of the products remain key factors contributing to the enduring preference for offline shopping when it comes to carrots.


Carrot Market Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Carrot market in North America can be attributed to several key factors. Carrots rank among the most commonly consumed fresh vegetables in the United States. Per capita consumption of carrots saw a notable increase, rising from 7.4 pounds in 2018 to 8.5 pounds in 2019. A significant portion of the country's demand for carrots and turnips is met through local production, with the remainder fulfilled by imports. Carrot imports into the US reached 240,927.0 metric tons in 2021, up from 209,784.0 metric tons in 2018. This upward trend in carrot consumption is expected to drive market growth in the foreseeable future. According to Statistics Canada's 2023 report, Canadian farmers saw a 10.5% increase in cash receipts for their carrots in 2023 compared to the previous year, reaching a record-high of $153.9 million in sales. Canadian farmers harvested 348,135 metric tons of carrots in 2023, with 96.7% of the produce making it to market. The carrot yield from Canadian farms in 2023 was sufficient to make approximately 1 billion carrot cakes.


Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.


Figure 2: Carrot Market Share By Region 2023 (USD Billion)


 


Carrot Market Share By Region 2023 (USD Billion)


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe's Carrot Market accounts for the second-largest market share due to the fact that Carrots offer versatility in culinary applications, seamlessly blending into a variety of dishes ranging from salads and soups to main courses. The rise in popularity of plant-based diets and vegetarianism has further fueled the demand for carrots, as they serve as a key ingredient in many meat-free recipes. In the UK, the number of vegan residents in care homes surged nearly threefold over five years up to 2019, with approximately 7,000 vegans and vegetarians residing in 11,000 care facilities. Since 2020, plant-based food sales in Europe have seen a significant uptick, rising by 22%, as reported by The Good Food Institute. In Spain, the area dedicated to carrot cultivation reached 6.98 thousand hectares in December 2023, according to EUROSTAT data. Further, the German Carrot Market held the largest market share, and the UK Carrot Market was the fastest-growing market in the European region.


The Asia-Pacific Carrot Market is expected to grow at the fastest CAGR from 2023 to 2032. The market growth was propelled by various factors, including the increasing preference for baby carrots as a healthy snack alternative to traditional junk foods, rising demand for organic carrots and carrot juices, and a growing consumer inclination towards healthier food choices and products. In the fiscal year 2021-22, Haryana led in carrot production with an annual output of 386,390 tonnes, constituting 20.23% of India's total carrot production. Following closely, West Bengal ranked second with an annual production of 235,390 tonnes, accounting for 12.32% of the country's carrot production in the same fiscal year. Moreover, China’s Carrot Market held the largest market share, and the Indian Carrot Market was the fastest-growing market in the Asia-Pacific region.


Carrot Market Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the Carrot market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Carrot industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Carrot industry to benefit clients and increase the market sector. In recent years, the carrot industry has offered some of the most significant advantages to the agricultural sector, including dietary health and consumer preferences. Major players in the Carrot Market, including Suttind Seeds (India), Premium Fresh (India), Groupe Vegco (Canada), Jung Seeds (USA), Willowbrook Foods (UK), Charles Hard Seed Company (USA) are attempting to increase market demand by investing in research and development operations.


Founded more than five decades ago, Premium Fresh Tasmania is a privately owned enterprise engaged in vegetable farming and processing. Its packing facility operates on the original family farm site, which has been in existence for over 60 years. Each year, the company forms partnerships with more than 80 individual landholders who undergo a meticulous selection process to ensure optimal crop rotations and access to land, offering the best-growing conditions in northern Tasmania. Premium Fresh Tasmania oversees all aspects of crop production on each property, including land preparation, planting, cultivation, and harvesting. The company utilizes its machinery for crop harvesting.


Willowbrook Foods is a fresh food producer and processing company located on the McCann family farm in Killinchy. The company manufactures a diverse range of products exported throughout the UK and Ireland. By collaborating with major retail stores and discounters across Ireland and the mainland, Willowbrook Foods offers an extensive selection of salad lines, deli products, prepped vegetables, and potato and root veg mash accompaniments to appeal to a wide range of consumers. Additionally, Willowbrook Foods supplies fresh ingredients for pizzas, salads, and subs to several renowned high-street brands and creates customized salads for fast-casual restaurant chains, all distributed by leading UK food distributors.


Key companies in the Carrot Market include.



  • Suttind Seeds (India)

  • Premium Fresh 

  • Groupe Vegco (Canada)

  • Jung Seeds (USA)

  • Willowbrook Foods (UK)

  • Charles Hard Seed Company (USA)


Carrot Industry Developments


June 2020: The Agricultural Marketing Service (AMS) of the US Department of Agriculture (USDA) updated the grading standards for topped carrots, bunched carrots, and carrots with short, trimmed tops. The revisions included the addition of new US No. 1 Grades to encompass carrots of various colors beyond the traditional orange, such as orange-red and orange-scarlet. The previous US No. 1 Grades used before 2020 will remain unchanged. Additionally, the Unclassified Section was eliminated as part of the update


Carrot Market Segmentation:


Carrot Market Type Outlook



  • Fresh

  • Frozen


Carrot Market Distribution Channel Outlook



  • Offline

  • Online


Carrot Market Regional Outlook



  • North America

  • US

  • Canada

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Report Attribute/Metric Details
Market Size 2022 USD XX Billion
Market Size 2023 USD XX Billion
Market Size 2032 USD XX Billion
Compound Annual Growth Rate (CAGR) 5.00% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019- 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Distribution Channel, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea
Key Companies Profiled Suttind Seeds (India), Premium Fresh (India), Groupe Vegco (Canada), Jung Seeds (USA), Willowbrook Foods (UK), Charles Hard Seed Company (USA)
Key Market Opportunities ·        Rising demand for organic carrots
Key Market Dynamics ·        The increased awareness and rising consumption trend of baby carrots


Frequently Asked Questions (FAQ) :

The Carrot Market size was valued at USD XX Billion in 2023.

The Carrot Market is projected to grow at a CAGR of 5.00% during the forecast period, 2024-2032.

North America had the largest share of the market

The key players in the market are Suttind Seeds (India), Premium Fresh (India), Groupe Vegco (Canada), Jung Seeds (USA), Willowbrook Foods (UK), Charles Hard Seed Company (USA)

The Fresh segment dominated the market in 2023.

The Offline segment had the largest share in the market.

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