According to the report, the global frozen vegetable market was pegged at $26.48 billion in 2017 and is projected to garner $38.84 billion by 2025, registering a CAGR of 5.0% from 2018 to 2025.
Growth of retail network in developing countries, rise in participation of females in the workforce, and increased consumption of frozen vegetables by QSRs have boosted the growth of the global frozen vegetable market. However, negative consumer perception related to nutritional content and poor freezing facilities in semi-urban and rural areas hamper the market growth. On the contrary, advancements in freezing technologies are expected to create lucrative opportunities in the near future.
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The global frozen vegetable market is divided on the basis of product, end user, distribution channel, and geography. Based on product, the market is segmented into asparagus, broccoli, green peas, mushrooms, spinach, corn, green beans, and others. The corn segment dominated the market in 2017, contributing nearly one-third of the market. Moreover, the segment is projected to register the fastest CAGR of 6.2% during the forecast period.
Based on end user, the market splits into the foodservice industry and retail customers. The retail customer segment held the largest share in 2017, accounting for more than two-thirds of the market. In addition, the segment is estimated to register the fastest CAGR 5.1% during the study period.
On the basis of distribution channel, the market is bifurcated into discounters, supermarkets/hypermarkets, and others. The supermarket/ hypermarket segment is anticipated to manifest the fastest CAGR of 5.1% through 2025. Moreover, the segment held lion’s share in 2017, accounting for more than three-fifths of the market.
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The global frozen vegetable market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the largest share in 2017, contributing nearly two-fifths of the market. However, the Asia-Pacific region is expected to register the fastest CAGR of 7.1% during the forecast period.
The global frozen vegetable market report includes an in-depth analysis of the major market players such as General Mills Inc., Aryzta AG, Ajinomoto Co. Inc., Kraft Foods Group Inc., Europastry S.A., Cargill Incorporated, Kellogg Company, JBS S.A., Nestle S.A., and Flower Foods.
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