Global Frozen Fruits Market - 2022-2029

Global Frozen Fruits Market - 2022-2029

Market Overview

Frozen fruits are basically the preserved the fruits in order to extend shelf life of the fruits. These fruits are used in food process industries such as bread, cake and also are sold in fruit store and supermarkets. The changing nutritional needs and lifestyle are boosting the demand of frozen fruits in developed countries, moreover, low penetration of such fruits in emerging countries provide great potential for expansion of service providers.

Frozen fruits contain better nutrients as these are preserved and stored safety, thereby, it reduces the risk of spoilage of the fruits. Other than this, frozen fruits are safety packaged and are free from chemicals and additives. Thus, owing to these benefits, frozen fruits are highly preferred by the consumers globally. Furthermore, increased number of is creating numerous opportunities to the market.

The global frozen fruits market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of YY% during the forecast period (2022-2029).

Market Dynamics: Growing consumer demand for natural food is driving the growth of the global frozen fruits market.

Consumer demand for natural, organic and plant-based food products, has witnessed exponential growth in recent years. Due to increased consumer preferences for healthy and nutritious food products, along with this consumer prefer plant-based healthy and tasty food alternatives Research studies show that the global frozen fruits market is anticipated to witness significant growth in those coming years. Furthermore, changing consumer dietary preferences and inclination towards nutritious food products is increasing the demand for frozen fruits. Frozen fruits are not only consumed directly but also used in various food & beverage products such as desserts, sweets and in juices, smoothies which also helps in boosting the market growth.

Thus, the increased awareness about the health benefits and nutritional value of frozen fruits ultimately has increased the demand for frozen fruits as well as products made with frozen fruits such as ice-creams various desserts, juices, smoothies and others. which has led to increased number of product launches, mergers & acquisitions and other collaborations between the companies to fulfill consumer demands. On the other hand, one of the major factors affecting the growth of the market is high moisture fruits which may turn into pulp and may get spoiled easily. Furthermore, frozen fruits are also associated with some risk factors such as high blood sugar/diabetes.

Market Segmentation: Organic accounted for the highest share in global frozen fruits market

In 2021, the organic frozen fruits segment had the highest revenue share of YY percent. Organic frozen fruits have been the most preferred choice of consumers due to the growing demand for organic and chemical free food products globally, coupled with a rise in demand for healthy & nutritious products along with good taste.

In 2021, the food service segment had the highest revenue share of YY percent. The food service segment includes restaurants, cafes, hotels, and others. The key manufacturing companies focus on establishing the online product availability. Various companies also offer products on their own websites and through various channels. In addition, various companies are introducing frozen fruit-based products with innovative flavors to attract the consumers which act as a driver for the market.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of YY percent. The region has well-developed food service sectors such as bakery, confectionary and others, where the demand for healthier and nutritious food is increasing. Consumers in U.S. prefer to consume nutrition-rich food, primarily natural products with no additives & chemicals. The region has fragmented into food processing, food service and household in which frozen fruits are used primarily as a healthier alternative.

Competitive Landscape:

The global frozen fruits industry is competitive and comprises players such as SunOpta Inc, Diafrost Frozen Fruit Industry N.V., Fruitex Australia, Arla Foods, Capricorn Food Products India Ltd., Ravifruit (Kerry Group), Uren Food Group Limited., Rosemary and Thyme Limited, Brecon Foods and Milne Fruit Pty Ltd among others. The frozen fruit market competitiveness is estimated to increase over the forecast period as the key players focus on various strategies such as agreements and product innovation for various applications. Moreover, rising research and development activities of product innovation for vegan people and consumers' preference for natural forms of products are also expected to propel market growth.

For instance,

• In May 2022, Mira Jhala, a serial entrepreneur launched her fourth startupFroGoan online frozen food product and distribution business, based in Gurugram, India.

• In April 2021, Aussie Frozen Fruit an Australian company launched frozen pineapples product as their fifth product in the range - 400g packs of 100% Australian grown.

COVID-19 Impact: Negative impact on the global frozen snacks market

The COVID-19 pandemic has adversely affected the economies of various countries due to lockdowns, business close, and travel bans. Food and beverages are among the major industries suffered from intense disruptions such as restrictions on the supply chain and the shutdown of warehouse plants.

In addition, the closures/shutdowns of the companies, factories production facilities in various countries have disrupted the whole supply chains. It has negatively impacted manufacturing activities, delivery schedules, and various goods sales. Multiple companies have already announced possible delays in product deliveries and a decline in future sales of their products.

Furthermore, the import-export restrictions imposed by governments in North America, Asia, and Europe are hindering geographical expansion, business collaboration and partnership opportunities. Thus, these factors are hindering the growth of the frozen fruits market in the food and beverage industry.

However, there has been shift towards the healthy and natural products during & after covid-19 pandemic which has increased the demand for frozen fruits globally.

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