ID: MRFR/F-B & N/0257-HCR | 144 Pages | Author: Pradeep Nandi | March 2024
Frozen Fruits and Vegetables Market is expected to register 7.60% CAGR from 2022 to 2030 and reach USD 9.12 billion by the end of 2030. Frozen fruits and vegetables market analysis report entails the growth details of retailing of frozen and canned fruit and vegetables by various entities. However, this market study does not involve any unprocessed fruits and vegetables as part of their agricultural market. Frozen fruits are very much convenient and healthy for consumption.
They can easily retain the flavors of the foods and conserve the nutritional values and textures. Frozen fruits and vegetables market trends can be seen increasing in the practice as they are readily available in the market at a low price range. Frozen fruit and vegetables are chilled and stored below their freezing point to be transported and stored till they are ready to eat. This increase in freezing temperature helps them enhance their shelf life, as it inhibits the growth of micro-organisms. Such products include ready-to-eat fruits, salads, smoothies, and fruit juices, etc.
Covid-19 Impact
Covid-19 pandemic outbreak has greatly affected the frozen fruits and vegetables market, and its influence can be clearly seen in the customer's behavior as consumers started panic buying the frozen food products that made a sudden hike of product demand in the global market. Due to this stockpiling practice, the market value of frozen fruit and vegetables in the market startlingly enhanced.
However, as the pandemic situation is starting to get stable and normalized, the market value is also getting to its standard condition. Moreover, frozen fruits are yielding more and more demand in the market due to the impression of strengthening the human immune system. Like many restaurants, food stalls, and dinners were temporarily got closed for Covid-19, consumers had to change their eating habits and preferred eating food they prepared at home.
Cold chain infrastructure is the major driving factor of frozen fruits and vegetables market size. Since frozen fruits and vegetables contain higher shelf life and can be easily prepared to eat with less effort, frozen fruits and vegetables market growth start to boost. Frozen food products take less time to cook than using fresh ingredients to start cooking from scratch.
As per FDA recommendation, consumers must store their fruits and vegetables in a clean refrigerator at a temperature of 40 degrees Fahrenheit. Other than having more shelf life of frozen food products with more vitamins, antioxidants, minerals, and phytochemical contents than fresh vegetables. As it's very convenient for consumers who are leading a busy lifestyle, it is increasing more are more demand for frozen products in the market.
As the foodservice industry is growing at a global level, the growth of frozen fruit and vegetable consumers is increasing at a steady rate. The application of digitalization in the industry is also making it convenient for consumers to pick out their preferred products and try out many new ones relying on other consumers' reviews. As more and more people are using the internet and smartphone, retail grocery shopping is getting popular frozen fruits and vegetables market as well as frozen fruits and vegetables market revenue.
The rising demand for consuming fresh and organic food products can be a major restraining factor for the frozen fruits and vegetables market outlook. Even though there is increasing demand for convenient frozen fruit and vegetables in the market, there are certain restraining factors such as health awareness toward ingestion of organic foods that can hinder the growth of this market.
Cold chain logistics is an essential requirement for increasing frozen fruits and vegetables market share. But developing a cold chain infrastructure can be one of the major challenges for many countries, and it would obstruct them from supplying safe frozen food products. Since many countries have developing economies, they have a monetary crisis because of a lack of investment in the cold chain logistics business. This directly impacts the import and export businesses in the frozen vegetables market.
Many developing countries are posing great opportunities for investing in the frozen fruits market as many consumers in the urban areas are rising in acceptance of this convenient lifestyle of consuming frozen food. Due to many beneficial factors in frozen food products in comparison to fresh products, there is an increasing demand in the global market.
Various market entities are also catering to that demand, providing a generous amount of growth opportunities in the global frozen fruits and vegetables market forecast. Due to various health concerns, more and more consumers are shifting from canned food to frozen foods, fostering more predictable growth in the fruit and vegetable market.
Market Segmentations
The global frozen fruits and vegetables market has a growing number of scopes for growing as it has many more market segments such as frozen fruits and vegetable types, categories, forms, distribution channels, and regions.
By Type
On the basis of the frozen fruits and vegetable type segment, the market is classified into fruits category and vegetable category. The fruit segment is further classified into melons, citrus fruits, berries, mango, peaches, kiwi, and many others. Moreover, the vegetable segment is also classified into peas, mushrooms, corn, carrots, beans, etc.
By Category
The frozen fruits and vegetables market is also segmented by categories such as organic and conventional. Both organic and conventional frozen food products have many nutritious aspects that are expected to bring more frozen fruits and vegetables market revenue as consumers prefer them to boost their immune systems.
By Form
After the category, the frozen fruits and vegetables market is also classified on the basis of form such as whole, sliced & cubed, and others. The foods are preserved and stored in the aforementioned forms, so they can be easily prepared and consume less time than fresh food products.
By Distribution Channels
The frozen fruits and vegetables market is further segmented on the basis of distribution channels such as store-based and non-store-based products. The store-based distribution channels are again classified into supermarkets & hypermarkets, convenience stores, and other retail helping with frozen food products sales in the global market.
Regional Analysis
Geographically, the global frozen vegetable and frozen fruits market is classified into many market regions, and the major ones are North America, Europe, Asia Pacific, and the rest of the world. In the frozen fruits and vegetables market forecast, North America is expected to dominate the global market due to having highly evolving and developing cold-chain infrastructures and facilities. Furthermore, Asia-pacific regions are projecting to gain the highest CAGR in the frozen fruits and vegetables market due to the growing demand for frozen foods and changing lifestyle and food habits.
As per the global market analysis of the frozen fruits and vegetables market share, there can be seen an increasing competition around the global market. And some of the major key players are:
Recent Trends
Recent Development
In November 2021, nestle launched 'Wildspace.', which includes a wide range of healthy frozen meals packaged in reusable and recyclable containers. It entailed at least six different types of food materials.
In September 2021, Grupo bimbo included four frozen bakeries to its lines in the Argentina plant. This has proved to be a profitable step as the business is increasing its export business in its neighboring countries.
Report Outlook
A multitude of quantitative and qualitative analyses has been performed on the global market of frozen fruits and vegetables market to measure the growth rates of various factors in the global market. This market analysis report includes information about market segmentation, market dynamics, market overview, regional analysis, competitive analysis, and influential recent developments in the frozen fruits and vegetables market trends.
Additionally, the frozen fruits and vegetables market analysis report puts light on various key market strategies that the market entities are implementing in business to enhance the growth of the frozen fruits and vegetables market in the forecast years.
Store-based
Non-store-based
North America
Europe
Asia-Pacific
Rest of the World
Report Attribute/Metric | Details |
---|---|
Market Size | USD 9.12 Billion |
CAGR | 7.60% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Category, Form, Distribution Channel, and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | HJ Heinz (US), Findus Sverige AB (Sweden), Ardo NV (Belgium), Simplot Australia PTY Ltd. (Australia), Dole (US), Pinnacle Foods Corp. (US), General Mills (US), Bondeulle Group (France), Capricorn Food Products India Ltd. (India), SunOpta Inc. (Canada), Alasko Foods Inc. (Canada), Fruktana Ltd. (North Macedonia), AXUS International LLC (US), Breukers Schamp Foods (Netherlands), Rasanco Ltd. (UK) |
Key Market Opportunities | The application of digitalization in the industry |
Key Market Drivers | Inhibiting the growth of micro-organism, Increasing per capita disposal income coupled with changing lifestyle |
Frozen fruits & vegetables market would attain a CAGR of 7.60% during the forecast 2030.
Frozen fruits & vegetables market valuation would be USD 9.12 billion.
Key players in the frozen fruits and vegetables market include HJ Heinz (US), Findus Sverige AB (Sweden), Ardo NV (Belgium), Simplot Australia PTY Ltd. (Australia), Dole (US), Pinnacle Foods Corp. (US), General Mills (US), Bondeulle Group (France), Capricorn Food Products India Ltd. (India), SunOpta Inc. (Canada), Alasko Foods Inc. (Canada), Fruktana Ltd. (North Macedonia), AXUS International LLC (US), Breukers Schamp Foods (Netherlands), Rasanco Ltd. (UK).
The factors triggering frozen fruits & vegetables market in North America are highly developed cold chain infrastructure and facilities.
Asia Pacific frozen fruits & vegetables market would record the fastest CAGR.
North America would dominate frozen fruits & vegetables market.
Key Questions Answered
Why Choose Market Research Future?