Market Research Report
Global Frozen Vegetables Market -2019-2026
|Published by||DataM Intelligence||Product code||906025|
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|Global Frozen Vegetables Market -2019-2026|
|Published: February 2, 2020||Content info:||
Global Frozen Vegetables Market Overview
The Global Frozen Vegetables is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
Freezing is one of the most used processes for conservation of foods. This process is based on the heat removal of the food to be conserved, by keeping the temperature sufficiently low at the point to considerably hindering or reducing the destructive action of the microorganisms, oxygen and enzymes on the product. The characteristics of the vegetables such as size, internal structure and cellular membrane thickness affect the patterns of the freezing process. The vegetable freezing is a widely used process since it presents higher efficiency in the preservation of the physiochemical and sensorial qualities of the vegetables.
Global Frozen Vegetables - Market Dynamics
The global Frozen Vegetables Market is primarily driven by rise in dual income household and hectic lifestyle of the people all around the world supported by increase in the awareness of consuming the healthy food among the people will be driving the market during the forecast period. Frozen vegetable is mostly lie under organic food category. In US, the demand for organic foods is primarily driven by personal health and environmental reasons and the United States has seen organic food sales growth from last five years. In addition, the approximately 50% of the population in The US includes organic food in their diet.
Restaurants and hotel are having high demand for the frozen vegetables and the conventional vegetable because of availably all around the year and also due to high nutrient value and hygiene, allowing them to serve to the consumers with great food quality. With the rise in the number of quick serving restaurants with include healthy food has been gaining popularity in the developing countries such as Brazil, India and China.
For instance, The Indian restaurant and food service industry has been attracting significant investments both from domestic as well as international private equity and venture capitalists. Various factors such as macroeconomic factors, ease of doing business, changing consumer preferences, etc. has led to a surge in investments in the Indian restaurant and food industry majorly in the QSR (Quick Service Restaurants) segment. The food tech space alone witnessed a growth of close to 400% in investments during FY18 crossing US $370 million.
However, due to negative perception of consumers related to nutritional content of frozen food is hampering the growth of Frozen Vegetables.
Global Frozen Vegetables Market- Segment Analysis
By Product type, the global Frozen Vegetables Market is segmented into Asparagus, Broccoli, Green Peas, Mushrooms, Spinach, Corn, Green Beans, and Others. Corn has the dominant position in the Frozen Vegetables market and is expected to retain its dominance in the forecasted period. However, due to high health benefits and rising demand of the mushroom in the quick service restaurants will make the mushroom market to increase with rapid rate in the forecast period. It is expected that Corn product will grow at a CAGR of ~XX% during the forecast period.
By End-Use type, the global Frozen Vegetable market is segmented into Food Service and household. Household has the dominant position in the Frozen vegetables market due to the more people asking for more healthy food.
Global Frozen Vegetables Market- Geographical Analysis
By geography, the global Frozen Vegetables is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
Europe holds the largest market share for Frozen Vegetables. Due to the rise in awareness of people for the consumption of the healthy food and also due to the rise in the retail market all around Europe.
With investment and development in Eastern Europe are constantly growing. Poland is entering its third decade of dynamic growth with new overseas retailers and luxury brands entering the market with thirty new global brands setup operations in the country last few years. There is retail boom in Russia as 63 new complexes in 40 Russian cities have been completed. There is positive attitude in Western Europe of investment in outdated shopping centers to allow retailers to expand locally.
However, North America is after Europe in terms of market share of Frozen Vegetables. Due to the increase in population and the growing need for the healthy food in the APAC region will drive the market for the region at the higher rate of interest for the forecast period.
Global Frozen Vegetables Market- Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Frozen Vegetables is a competitive market with the presence of various global and regional players in the market. The major players include Cargill Incorporated, General Mills Inc., The Kraft Heinz Company, Greenyard NV, and Europastry S.A. Other key players in the market include Iceland Foods Ltd., ARYZTA AG, ConAgra Foods Inc., Yorkshire Frozen Vegetable, and B&G Foods, Inc.