Frozen Vegetables Market Forecasts to 2028 – Global Analysis By Type (Cauliflower, Beans, Peas and Other Types), Distribution channel (Grocery Stores, Supermarket/Hypermarket and Other Channels), Nature (Conventional and Organic), End user (Retail Customers, Food Service Industry and Other End Users), and By Geography
According tStratistics MRC, the Global Frozen Vegetables Market is accounted for $19.46 billion in 2022 and is expected treach $29.34 billion by 2028 growing at a CAGR of 7.08% during the forecast period. Vegetables that have been deep frozen can be kept for a long time and used as needed. Vegetables' vital components, such carotenes, which the body needs tproduce vitamin A, are kept intact by freezing. Also, many food manufacturers use freezing tpreserve food in order treduce food waste, meet the needs of an expanding population, and maintain the competitiveness and profitability of the food industry.
Market Dynamics:
Driver:
Wide use of e-commerce portals
Increased availability of frozen veggies and rising disposable incomes are anticipated tbe twof the key factors boosting the global frozen vegetables industry. The market for frozen veggies is alsgrowing quickly due tchanges in lifestyle, eating habits, and the expansion of several major retail chains. Additionally, restaurants all over the world are relying on frozen veggies tmeet the demand for unique cuisines due tthe increased penetration of e-commerce and online delivery services fuelled by an accelerated lifestyle.
Restraint:
Rising preference for fresh and natural food products
One of the main barriers tthis market's growth is the misconception that frozen food is a poor substitute for fresh food among some consumers. There is a belief that food that has been processed a year or more before consumption cannot be nutritious. The FDA and the International Food Information Council (IFIC) have made claims about the nutritional value of frozen food, such as frozen vegetables can be just as excellent as the fresh stuff in terms of nutrients, which are altering public perception.
Opportunity:
Increasing number of frozen vegetables manufacturers
As more manufacturers enter the market tproduce frozen vegetables, the market for frozen vegetables grows in response tthe increasing demand. Food commerce in the frozen vegetable sector is growing more global in most nations as a result. As a result, supply chains are expanding and getting more complex, which increases the demand for vegetables tstay fresh for longer periods of time and boosts frozen vegetable sales.
Threat:
High cost of purchasing freezing equipment
The growth of the global market for frozen vegetables may be severely impacted by the high cost of obtaining freezing equipment. Furthermore, frozen foods contain a range of preservatives that could hurt the human body, which is another important issue that is projected thinder the global vegetable market's expansion throughout the forecast period.
Covid-19 Impact
With the appearance of the novel coronavirus, the COVID-19 has caused the frozen vegetable market tperform well. The ability of frozen vegetables tmaintain their nutritional content over an extended length of time reduces the frequency of consumer visits tthe store or outlet, which benefits the market as a whole. Although the COVID-19 had a substantial influence on the cold chain supply, the market for frozen vegetables has grown faster than anticipated thanks tchanging customer buying habits that are more inclined towards health.
The convenience stores segment is expected tbe the largest during the forecast period
The convenience stores segment is estimated thave a lucrative growth, the increased consumption of frozen vegetables worldwide as a result of people's changing and busy lifestyles around the world. Frozen dishes are easy tmake and requires less time for preparation. They are wholesome and rich in nutrients. Due tthe high customer approval of these products and growing brand recognition in developing nations, the export of frozen vegetables has alsgrown in recent years.
The retail customers segment is expected thave the highest CAGR during the forecast period
The retail customers segments is anticipated twitness the fastest CAGR growth during the forecast period, due tmany individuals are turning tthe usage of frozen vegetables since they are quicker tprepare, easier tcook, better for working-class diets, and have greater health benefits. These are the characteristics causing the market tgrow.
Region with highest share:
Asia Pacific is projected thold the largest market share during the forecast period owing tan increase in domestic frozen vegetable production and a growth in population consumption. Because frozen veggies have a higher nutritional value than fresh vegetables, the rising convenience food demand in China is anticipated tbenefit the worldwide frozen vegetable market.
Region with highest CAGR:
Europe is projected thave the highest CAGR over the forecast period, owing tthe changes in European consumers' eating patterns, this development is expected tbe aided by foods that are ready teat or easy tprepare, as well as dishes made from vegetables instead of animal products. Consumers in Europe are increasingly seeking quick and easy breakfast, meal replacement, and snack options that are nutritious, which is helping the market for frozen vegetables develop.
Key players in the market
Some of the key players profiled in the Frozen Vegetables Market include Astral Foods, Uren Food Group Limited, Hormel Foods, Nestlé, Kraft Foods, Samworth Brothers, Waitrose, JBS S.A., BRF S.A, ITC Limited, General Mills Inc, Conagra Brands, Inc, Unilever, Kellogg Co, The Kraft Heinz Company, LantmännenUnibake, McCain Foods Ltd., AjinomotFoods and Associated British Foods plc.
Key Developments:
In April 2020, Uren Food Group Limited opened a new trading office in Sabac, Serbia, tdevelop strong business relations in the region. The new location is one of the prime growing regions of berries and others, where the company sources a number of its IQF fruits.
In November 2017, ITC Limited launched Farmland, a new brand toffer fresh fruits & vegetables. The company offers innovative products such as natural low-sugar potatoes, potatoes with natural antioxidants, and others. The company continues toffer products such as baby potatoes, French fry potatoes, and frozen vegetables.
Types Covered:
• Cauliflower
• Beans
• Peas
• Green Beans
• Mushroom
• Corn
• Carrot
• Asparagus
• Potato
• Broccoli
• Onion
• Spinach
• Other Types
Distribution channels Covered:
• Grocery Stores
• Supermarket/Hypermarket
• Convenience Stores
• Online Retailers
• Discounters
• Other Distribution Channels
Natures Covered:
• Conventional
• Organic
End Users Covered:
• Retail Customers
• Food Service Industry
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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