The changing lifestyle and work culture have infused the need for convenience food which is likely to drive the market growth for frozen fruits and vegetables. The increasing product offering of frozen fruits and vegetables coupled with easy availability in stores will complement the expansion of the market over the next couple of years. Furthermore, the introduction of Ready to Eat (RTE) products cut down the task of peeling and slicing which is likely to aid global frozen fruits and vegetables market proliferation. The catalyzed demand for RTE food is poised to accelerate the sales of frozen spinach and legumes. The frozen fruits and vegetables industry leaders facilitate the supply of seasonal products throughout the year which has accelerated revenue generation from the market and is likely to continue the trend over the assessment period. The growing demand for confectionery, bakery and dairy products will propel the revenue creation from frozen fruits segment of the market due to increased sales of kiwi and apricots.
The technological innovations adopted by the industry leaders for preserving the nutritional content and taste of fruits and vegetables while enhancing shelf life will further propel the market growth globally. However, some loss of nutrition during freezing is inevitable which is likely to hold the market growth during the review period. Other factors responsible for hampering the growth of frozen fruits and vegetables market include preferences for fresh fruits and vegetables, impacts on the environment, etc.
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Major Key Players Analysis:
The key players profiled by MRFR in its report include Dole (U.S.), HJ Heinz (US), Simplot Australia PTY Ltd (Australia), Ardo NV (Belgium), General Mills (U.S.), Pinnacle Foods Corp. (US), Findus Sverige AB, (Sweden), and Bonduelle Group (France) among others. The strategies employed by the key players for gaining prominence in the market include the increased supply of products, competitive pricing, packaging innovations, acquisitions and mergers, product developments, etc.
In July 2018, Patanjali, an Indian consumer goods company, has announced its plan to foray into frozen vegetables market. The company has successfully launched a couple of products and is planning to add 6-7 more vegetables to its frozen vegetables product line.
By type, the global frozen fruits and vegetables market is segmented into fruits and vegetables.
By form, the frozen fruits and vegetables market has been segmented into whole, pureed, dried, and others.
By application, the global frozen fruits and vegetables market is segmented into fruits and vegetables. The fruits segment is sub-segmented into fruit juices & smoothies, breakfast cereals, salads & desserts, bakery foods, yogurts, and others. The vegetables segment has further been sub-segmented into pizza toppings, salads, Ready to Eat Food (RTE), noodles & pastas, soups, and others.
By packaging, the frozen fruits and vegetables market has been segmented into <10 kgs, >10-15 kgs,15-30 kgs, and >30 kgs.
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By region, the frozen fruits and vegetables market has been segmented into North America, Europe, Asia Pacific, and South America. Asia Pacific will hold the largest share of market size during the projection period which accounts for more than 50% of the market size. The increase in per capita income coupled with a rising population will drive the market growth in the region. Furthermore, the consolidation of emerging economies such as India and China will encourage the Asia Pacific frozen fruits and vegetables market expansion.
North America and Europe market will witness growth due to technological advancements in preserving the frozen fruits and vegetables with minimum loss of nutrients. The changing lifestyle in these regions has fueled the demand for convenience food which will catapult market growth in Europe and North America.
South America market will thrive moderately due to the presence of emerging markets such as Brazil and Mexico among others. The region will hold potential for growth throughout the forecast period.
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