The global frozen fruits and vegetables market reached a volume of 26.5 Million Tons in 2018. Frozen fruits and vegetables are rapidly gaining traction among consumers as they offer a wide range of advantages over the fresh produce. The technique employed in freezing fruits and vegetables assists in retaining the color, flavor and nutritive value of these products. It slows down the decomposition by turning the residual moisture into ice, which prevents the growth of bacteria. Frozen fruits and vegetables are also immune to spoilage that occurs on account of vigorous transportation and exposure to light, heat and dust. They offer numerous benefits which include low cost, easy preparation and availability during the off-season.
Due to long working hours, rising health consciousness and the increasing prevalence of lifestyle diseases, consumers are shifting to frozen fruits and vegetables as they do not need to be washed, peeled or chopped. Additionally, they help in minimizing the overall cooking time without affecting the nutritional intake. In line with this, manufacturers are launching unique product variants, incorporating herbs and spices from local produce, to widen their portfolio and attract a large consumer base. Further, inflating income levels of the middle-class population, especially in the Asian countries, is impelling the market growth. Moreover, consumers currently prefer to shop online and pay through their credit/debit cards to eliminate geographical limitations. This, in confluence with the burgeoning e-commerce industry, is providing a thrust to the market growth. Looking forward, IMARC Group expects the market volume to reach 32.5 Million Tons by 2024, at a CAGR of 2.24% during 2019-2024.
Breakup by Product Type:
The market is primarily dominated by frozen vegetables. This can be attributed to hectic lifestyles of consumers and the growing demand for easy-to-cook food products. Moreover, the increasing number of large retail chains and frequent usage of these vegetables in homes as well as restaurants is also boosting their overall sales.
Breakup by Distribution Channel:
Supermarkets/hypermarkets currently account for the majority of the total market share as they are generally located at easily accessible places and have well-established cold storages.
On the geographical front, Europe represents the largest market for frozen fruits and vegetables around the world. Frozen berries are widely used as a key ingredient for preparing smoothies and similar products in the region. This, coupled with the rising demand for frozen kale (a type of cabbage), which is used in the preparation of chips, salads and smoothies, is supporting the market growth in the region.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the key players operating in the industry. Some of these key players include:
Key Questions Answered in This Report:
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