Frozen Vegetables Market Expected to Grow by US$ 63,566.5 Million in 2033, Fueled by Off-Season Availability as a Year-Round Alternative – Exclusive Report by Persistence Market Research
Growing consumer demand for processed foods is fueling the frozen vegetables market, with developed countries like the U.K. expected to see rapid growth due to the extended shelf life of frozen produce
New York, Jan. 19, 2024 (GLOBE NEWSWIRE) — Market Size & Overview:
The historical analysis of the global frozen vegetables market reveals a significant surge in sales, demonstrating a growth rate of 3.1% from 2018 to 2022. Projections indicate a substantial increase in market value, reaching US$ 38,357.4 million in 2023.
The escalating consumer demand for frozen vegetables market is attributed to the manifold benefits associated with frozen produce. Freezing effectively preserves the color, flavor, and nutritional content of fruits and vegetables, while also inhibiting bacterial growth and delaying decay by freezing residual liquids.
The freezing process imparts increased resilience to deterioration during transportation and exposure to adverse conditions such as light, heat, and dust. Frozen fruits and vegetables present various advantages, including cost-effectiveness, ease of preparation, and year-round availability.
This comprehensive research serves as a valuable resource for businesses, providing detailed market analyses and insights. The Frozen Vegetable report illuminates the current market status, future expectations, competitive landscape, and strategic measures required for market dominance.
Facilitating businesses and individuals in navigating the market, the research furnishes essential statistics on global and regional manufacturers. Crucial aspects covered include brand awareness, market dynamics, potential challenges, industry trends, and consumer behavior. This Frozen Vegetable research is indispensable for optimizing return on investment (ROI) by offering a nuanced understanding of key market elements.
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|Market Revenue 2023
|US$ 38,357.4 million
|Estimated Revenue 2033
|US$ 63,566.5 million
|Growth Rate – CAGR
|No. of Pages
|Key Companies Profiled
Frozen Vegetables Consumption Analysis:
The global frozen vegetables market has experienced substantial growth, registering a Compound Annual Growth Rate (CAGR) of 3.1% in the historical period, and reaching a valuation of US$ 38,357.4 million in 2023.
Anticipated to maintain a steady trajectory, this growth is fueled by the burgeoning economies and increased disposable income of consumers, particularly in their expenditure on food and beverage products.
The expansion of the global frozen food industry is notably driven by a surge in the consumption and demand for frozen meals in emerging economies of the Asia Pacific region, such as Japan and India. Contributing factors include the rise in disposable income, coupled with shifts in lifestyle and dietary preferences.
Europe emerges as the primary region driving the demand for frozen vegetables, closely followed by North America. The escalating demand is bolstered by the rapid proliferation of large retail outlets, encompassing hypermarkets/supermarkets and other stores.
Within Europe, France leads with the highest Value Compound Annual Growth Rate (CAGR) of 5.5%, trailed by Italy and Spain. In North America, the United States commands the highest market share, accounting for approximately 42% during the forecast period.
In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at: https://www.persistencemarketresearch.com/market-research/frozen-vegetables-market.asp
Top 8 Key Trends in the Market for Frozen Vegetables:
- Rising Health Consciousness: A significant trend in the frozen vegetables market is the increasing awareness of health and wellness among consumers. The perception that frozen vegetables retain their nutritional value during the freezing process has driven health-conscious individuals to opt for these convenient and nutritious alternatives.
- Innovation in Product Offerings: Market players are actively engaged in product innovation to cater to changing consumer preferences. This includes the introduction of new frozen vegetable blends, organic options, and value-added products that align with evolving dietary trends.
- Sustainable Packaging: With a growing emphasis on environmental sustainability, there is a notable shift towards eco-friendly packaging in the frozen vegetables market. Companies are adopting packaging solutions that minimize environmental impact, such as recyclable materials and reduced packaging waste.
- Convenience and Time-Saving Solutions: Busy lifestyles and an increasing demand for convenient meal options have fueled the popularity of frozen vegetables. Ready-to-cook frozen vegetable products and meal kits are gaining traction, offering consumers quick and hassle-free solutions for incorporating vegetables into their diets.
- Global Flavor Exploration: Consumer preferences for diverse and exotic flavors are influencing the frozen vegetables market. Companies are introducing globally-inspired frozen vegetable options, providing a variety of cuisines and taste experiences to meet the demands of a diverse consumer base.
- Technological Advancements in Processing: Continuous advancements in freezing technologies contribute to the preservation of the quality and freshness of frozen vegetables. Quick-freezing methods and advanced processing techniques help maintain the texture, color, and nutritional content of the vegetables, meeting consumer expectations for high-quality frozen products.
- E-commerce Expansion: The growth of e-commerce platforms has opened up new distribution channels for frozen vegetable products. Online platforms enable consumers to conveniently purchase and receive frozen vegetables, contributing to the market’s accessibility and reach.
- Health and Sustainability Labeling: Consumer preferences for healthier and sustainable food options have led to an increased focus on labeling. Companies are incorporating clear and transparent labeling practices, providing information on the nutritional content, sourcing, and environmental impact of their frozen vegetable products to meet consumer expectations for transparency and ethical choices.
Europe’s Frozen Vegetables Market Overview:
Anticipated growth in the European frozen vegetables market is driven by shifting consumer habits, with an increasing preference for ‘ready to eat’ or ‘simple to make’ meals. Moreover, the trend of substituting animal-based foods with vegetable alternatives is expected to fuel market development. Key European countries like Germany, France, the United Kingdom, Italy, and the Netherlands present opportunities for suppliers from emerging nations. The surge in demand for nutritious foods, particularly for healthy and quick breakfast, meal replacement, and snack options, is propelling the market growth of frozen vegetables in Europe.
China’s Demand Outlook for Frozen Vegetables:
China plays a significant role in the East Asian market for frozen vegetables and is poised for substantial expansion at a rate of approximately 5.8% throughout the forecast period. This growth is attributed to the increasing domestic production of frozen vegetables and a rising consumption trend among the population. The surge in demand for convenience foods in China is expected to positively impact the global frozen vegetables market, driven by the perceived higher nutritional value of frozen vegetables. The Chinese market’s dynamics indicate a promising outlook for the continued growth and significance of frozen vegetables in the region.
Dominant Type in the Frozen Vegetables Market:
The market segmentation based on types includes beans, peas, corn and baby corn, broccoli and cauliflower, potatoes, onions, tomatoes, carrots, and spinach, among others. According to the research on frozen vegetables, the potatoes segment is expected to exert significant dominance, boasting the highest value share. This is attributed to the escalating demand from foodservice businesses, driven by the ease of usage and widespread availability of frozen potatoes.
Sales Opportunities through Various Distribution Channels:
The landscape of frozen vegetable sales is undergoing dynamic changes, with a notable surge in business-to-consumer segments. Among these, the hypermarkets/supermarkets segment stands out with a robust growth rate, witnessing a Compound Annual Growth Rate (CAGR) of 5.5%. Following closely are specialty stores, convenience stores, and online retail, all contributing to the expanding reach and availability of frozen vegetables. This shift in distribution channels underscores the diverse avenues through which suppliers can capitalize on the growing demand for frozen vegetables in the market.
Key Recent Developments:
Product Innovations: Companies in the frozen vegetables market may introduce new and innovative products to meet evolving consumer preferences. This could include unique vegetable blends, new flavors, or packaging innovations to enhance convenience.
Sustainable Practices: Given the increasing emphasis on sustainability, companies may adopt eco-friendly packaging solutions or implement sustainable sourcing practices for their frozen vegetables. This could be in response to growing consumer awareness and demand for environmentally responsible products.
Partnerships and Collaborations: Collaborative efforts between frozen vegetable suppliers and retailers, or partnerships between companies in the food industry, could emerge. These collaborations may aim to enhance distribution channels, improve supply chain efficiency, or introduce joint marketing initiatives.
Health and Wellness Initiatives: Companies may focus on promoting the health benefits of frozen vegetables, aligning their products with wellness trends. This could involve marketing campaigns emphasizing nutritional content, low processing, and other health-conscious attributes.
Expansion into New Markets: Frozen vegetable suppliers might explore opportunities to enter new geographical markets. This could involve strategic expansions, acquisitions, or partnerships to strengthen their presence in regions where there is a growing demand for frozen vegetables.
Technological Advancements: Continuous advancements in freezing and processing technologies could lead to improved methods for preserving the quality and nutritional value of frozen vegetables. Companies investing in research and development may announce breakthroughs in freezing techniques.
Key Companies Profiled:
- Ajinomoto Co., Inc.: A Japanese multinational company known for its expertise in food and seasoning products. Ajinomoto is involved in various aspects of the food industry, including frozen vegetables, where it offers high-quality and innovative products.
- General Mills Inc.: A major American multinational food company, General Mills has a diverse portfolio that includes frozen vegetables. The company is recognized for its commitment to providing convenient and nutritious food options to consumers globally.
- ITC Limited: Based in India, ITC Limited is a diversified conglomerate with business interests in various sectors, including the food industry. The company has a presence in the frozen vegetables market, offering a range of frozen food products.
- ConAgra Foods, Inc.: A leading American packaged foods company, ConAgra Foods is a key player in the frozen vegetables sector. The company is known for its popular frozen food brands, catering to the convenience and taste preferences of consumers.
- Uren Food Group Limited: A UK-based company specializing in the sourcing, processing, and distribution of frozen fruits and vegetables. Uren Food Group serves various industries, including retail, foodservice, and manufacturing.
- B&G Foods Holdings Corp.: A publicly traded American food company that owns and operates a diverse portfolio of brands, including frozen vegetables. B&G Foods focuses on delivering high-quality, flavorful, and convenient food products to consumers.
- Greenyard NV: A global market leader in fresh and prepared fruits, vegetables, flowers, and plants. Greenyard NV is involved in the production and distribution of frozen vegetables, catering to retail, foodservice, and industrial customers.
- J.R. Simplot Co.: An American agribusiness company that engages in various food-related businesses, including frozen vegetables. J.R. Simplot is known for its innovations in potato processing and other frozen food products.
- The Kraft Heinz Company: A multinational food company resulting from the merger of Kraft Foods Group and H.J. Heinz Company. While known for its diverse product range, the company may offer frozen vegetable products under its portfolio of brands.
- Nature’s Garden: A company specializing in frozen fruits and vegetables, Nature’s Garden focuses on providing natural and organic options to consumers. The brand is committed to delivering products with high nutritional value and quality.
- Ardo: A prominent player in the frozen vegetable industry, Ardo is a European company involved in the production, processing, and distribution of a wide range of frozen fruits and vegetables.
Frozen vegetables Market Segmentation:
Organic: Organic vegetables are grown without the use of synthetic pesticides, herbicides, or genetically modified organisms (GMOs). They are cultivated using natural methods that promote soil health and biodiversity.
Conventional: Conventional vegetables are grown using traditional agricultural practices, which may involve the use of synthetic pesticides and fertilizers. These vegetables may or may not be genetically modified, depending on regional regulations.
By Product Type:
Beans: This category includes various types of beans such as kidney beans, black beans, and green beans. Beans are a good source of protein and essential nutrients.
Peas: Peas are legumes that come in various varieties, including green peas and snow peas. They are rich in vitamins, minerals, and fiber.
Corn and Baby Corn: Corn and baby corn are cereal grains with versatile culinary uses. Baby corn is harvested before reaching maturity and is commonly used in Asian cuisine.
Onion: Onions are aromatic vegetables widely used in cooking. They add flavor to dishes and come in various types, including red, yellow, and white onions.
Tomato: Tomatoes are fruits often used as vegetables in cooking. They are rich in antioxidants, vitamins, and minerals and are a key ingredient in many cuisines.
By Distribution Channel:
Business To Business: Vegetables are sold in bulk to businesses, such as restaurants, catering services, and food processors.
Business To Consumers: Vegetables are sold directly to individual consumers through various retail outlets.
Hypermarkets/Supermarkets: Vegetables are available in large retail stores offering a wide range of products, including fresh produce.
Convenience Stores: Vegetables are sold in small, easily accessible stores that cater to consumers looking for quick purchases.
Specialty Stores: Specialty stores focus on specific types of vegetables or organic produce, providing a niche shopping experience.
Online Retail: Vegetables are sold through online platforms, allowing consumers to order and receive fresh produce at their doorstep.
North America: This region includes the United States and Canada, where a diverse range of vegetables is cultivated and consumed.
Latin America: Latin American countries contribute to the global vegetable market with products such as avocados, tomatoes, and peppers.
Europe: European countries have a rich tradition of vegetable cultivation, offering a variety of produce to local and international markets.
South Asia & Pacific: This region includes countries like India, China, and Australia, where a wide range of vegetables is grown and consumed.
East Asia: East Asian countries, such as Japan, South Korea, and China, contribute significantly to the global vegetable market with diverse produce.
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