The global Frozen Vegetables Market size was valued at $26,479.0 million in 2017, and is expected to garner $38,845.7 million by 2025, registering a CAGR of 5.0% from 2018 to 2025. The corn segment dominated the global frozen vegetables market in 2017 and is expected to maintain the dominance throughout the forecast period. Frozen vegetables are products that can be stored and used over a long period of time.
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The ability to preserve food by freezing has enabled producers to make their products available to consumers anywhere across the globe. Although being seasonal, vegetables such as asparagus, broccoli, green peas, mushrooms, spinach, corn, and green beans can be made available to consumers in all seasons by freezing them.
Key Players Are:
The other key market players (not profiled in this report) are Amy’s Kitchen, Inc., Ardo N.V., Arena Agroindustrie Alimentari SPA, Bellisio Foods, Inc., Bonduelle SCA, Conagra Foods, Inc., Findus Group., Goya Foods, Inc., H.J. Heinz Company, and Iceland Foods Ltd.
Regional Analysis:
In terms of value, Europe and North America collectively contributed over half of the global market share in the frozen vegetables market in 2017. The key players profiled in the report include Aryzta AG, General Mills Inc., Kraft Foods Group Inc., Ajinomoto Co. Inc., Cargill Incorporated, Europastry S.A., JBS S.A., Kellogg Company, Nestle S.A., and Flower Foods.
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By end user, the retail customer segment dominated the frozen vegetables market in 2017. This was attributed to immediate gratification and availability of several options of trail before purchase. The food service industry is expected to witness a moderate growth rate of 4.7% during the forecast period, owing to increase in number of fast-food outlets and QSRs all around the world.
Key findings of the study
- Based on product, the corn segment was the highest contributor to the frozen vegetables market growth and is expected to grow at a CAGR of 6.2% from 2018 to 2025.
- Based on distribution channel, the supermarket/hypermarket segment was the highest contributor to the market in terms of value in 2017 and is estimated to grow at a CAGR of 5.1% from 2018 to 2025.
- Based on product, the broccoli segment is expected to grow at a steady CAGR of 6.0% from 2018 to 2025.
- Based on end user, the retail customers segment accounted for more than two-thirds in the frozen vegetables market share in 2017 and is estimated to grow at a CAGR of 5.1%.
- Based on distribution channel, the others segment accounted is anticipated to grow at a CAGR of 5.0% during the forecast period.
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According to Shankar Bhandalkar, Senior Research Analyst, Food and Beverages at Allied Market Research, Hectic lifestyle has shifted the preference of consumers toward the use of alternatives to regular vegetables. Thus, frozen vegetables have gained increasing popularity among consumers, which significantly contributes toward the growth of the market.
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