Market Research Report
Frozen Vegetables Market - Growth, Trends and Forecasts (2021 - 2026)
|Published by||Mordor Intelligence Pvt Ltd||Product code||990480|
|Published||Content info||150 Pages
Delivery time: 2-3 business days
|Frozen Vegetables Market - Growth, Trends and Forecasts (2021 - 2026)|
|Published: February 1, 2021||Content info: 150 Pages||
Global Frozen Vegetable Market is projected to grow at a CAGR of 4.24% during the forecast period 2021-2026.
Increasing Demand for Convenience Food Products
Since, globally, the younger population (particularly from the developing countries like India and China), is actively engaged in various professional commitments, they are increasingly looking for food products that can be stored and instantly eaten, also with more shelf life. Therefore, working millennials prefer to buy frozen veggies in order to decrease the vegetable cutting and buying time on a regular basis. On the other hand, the surge in demand for frozen vegetables seems to be more favorable for products that are convenient to eat and prepare as well. A study analyzed by RaboBank states that the import of frozen sweet potatoes in the European Union, particularly from the United States, has tripled over the last four years, hence citing the level of consumer favoritism in devouring the product.
Europe Holds a Significant Market Share
Demand for convenient meal solutions amongst time-pressured European consumers has been witnessing a continuous increase, which is pushing the market growth of frozen vegetables in the European region. Further, with strong purchasing power and sophisticated consumers, in general, the Europeans tend to mirror the food trends of the Americans. Increasing consumer spending on eating out, especially the younger consumers are spending more on eating than an average will further boost the revenues in the European frozen vegetable market. Consumers in the region are becoming inclined toward vegan and healthy food as a part of lifestyle change. There has been a considerable shift from high-fat food products to low fat and high protein vegetables and fruits. Hence, boosting the market growth.
The global frozen vegetables market is a highly fragmented market and comprises regional and international competitors. The market is dominated by players, like General Mills Inc, Conagra Brands, Pictsweet Farms, Mother Dairy Fruit & Vegetable Pvt. Ltd., and ITC Brands among others. Companies compete on different factors, including product offerings, ingredients, quality, price, functionality, size, packaging, and marketing activities, in order to gain a competitive advantage in the market. Key players are now focusing on social media platforms and online distribution channels for their online marketing and branding of their products to attract more customers.