As per the latest report by IMARC Group, entitled “Frozen Fruits and Vegetables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global frozen fruits and vegetables market reached a volume of 25 Million Tons in 2017. Frozen fruits and vegetables are gaining traction across the globe as they offer numerous advantages over fresh produce like convenience and year-round availability regardless of the season. They are preserved by employing several technologies, such as flash and mechanical freezing, which assist in turning the moisture content of the frozen fruits and vegetables into ice, thereby sustaining them for future consumption. Apart from this, these technologies also help in retaining the nutritive value of frozen fruits and vegetables, preventing them from any contamination and moisture penetration as well as making them inert towards any microbiological spoilage.
Changing lifestyles and hectic work schedules of the consumers have created an inclination towards easy-to-cook food products like frozen fruits and vegetables as they do not require washing, peeling or chopping, and help in minimizing the overall cooking time. Besides this, the manufacturers are introducing numerous product variants, such as potatoes, legumes, peas, spinach, strawberries and raspberries, in order to widen their portfolio and attract a larger consumer-base. Further, the consumers now prefer to shop online and pay through their credit/debit cards which help in eliminating geographical limitations. This, coupled with the proliferating online retail business, is providing a thrust to the growth of the market. Additionally, mounting income levels of the middle-class, particularly in Asian countries like China and India, have enabled the consumers to opt for convenient food products. Looking forward, the market volume is projected to reach more than 31 Million Tons by 2023, at a projected CAGR of nearly 4% during 2018-2023.
- Based on frozen fruits and vegetables, the market has been segmented as frozen fruits and frozen vegetables. Currently, frozen vegetables account for the largest share of the market due to the growing demand for easy-to-cook food products. Furthermore, the ascending number of large retail chains in confluence with the frequent use of these vegetables in homes and restaurants are boosting their demand worldwide.
- On the basis of distribution channel, supermarkets and hypermarkets represent the biggest segment as they are located at easily accessible places. Supermarkets and hypermarkets are followed by independent retailers, convenience stores and others.
- Region-wise, the market has been segregated into Europe, Asia Pacific, North America, Latin America, and Middle East and Africa. Amongst these, Europe enjoys the leading position in the global frozen fruits and vegetables market.
- The competitive landscape of the market has also been examined with some of the key players being Dole Food Company, Inc, Ardo NV, HJ Heinz, Simplot Australia Pty. Ltd and General Mills.
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