Frozen Vegetables Market Outlook (2023-2033)
The global frozen vegetables market incurred high sales in the historical period assessment and showed growth rate of 3.1% during (2018-2022). The market value is expected to increase decidedly and register the sales of US$ 38,357.4 Million in year 2023.
The global frozen vegetables market is projected to witness significant growth over the forecast period. Frozen vegetables are vegetables that have been blanched, boiled, or steamed and then frozen for later use. They are a convenient and cost-effective alternative to fresh vegetables and are available year-round. The market is driven by factors such as the increasing demand for convenient and healthy food products, the growing trend of plant-based diets, and the increasing demand for frozen vegetables in the foodservice industry.
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Market Drivers:
The increasing demand for convenient and healthy food products is driving the growth of the frozen vegetables market. Consumers are becoming more time-constrained and are seeking out food products that are easy to prepare and convenient to use. Frozen vegetables are a convenient option as they can be stored for long periods of time and require minimal preparation. Additionally, frozen vegetables are a healthy option as they are low in calories and rich in nutrients.
Another driver for the frozen vegetables market is the growing trend of plant-based diets. As more consumers adopt plant-based diets, there is an increasing demand for plant-based food products that are convenient and easy to use. Frozen vegetables are a popular option for plant-based consumers as they can be used in a variety of dishes and provide the same nutritional benefits as fresh vegetables.
Market Restraints:
One of the main challenges for the frozen vegetables market is the perception that frozen vegetables are less nutritious than fresh vegetables. While frozen vegetables can provide the same nutritional benefits as fresh vegetables, many consumers believe that they are less healthy. Additionally, the availability of fresh vegetables year-round can be a hindrance to market growth.
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Segmentation:
The global frozen vegetables market can be segmented by type, distribution channel, and region.
- Based on type, the market can be segmented into broccoli, peas, corn, carrots, green beans, and others.
- Based on distribution channel, the market can be segmented into supermarkets and hypermarkets, convenience stores, online channels, and others.
Regional Analysis:
The global frozen vegetables market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to hold the largest share of the market owing to the increasing demand for convenient and healthy food products in the region. Europe is expected to grow at a significant CAGR owing to the growing trend of plant-based diets and the increasing demand for frozen vegetables in the foodservice industry.
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Competitive Landscape:
The global frozen vegetables market is highly competitive with key players such as Ajinomoto Co., Inc., General Mills Inc., ITC Limited, ConAgra Foods, Inc., Uren Food Group Limited, B&G Foods Holdings Corp., Greenyard NV, J.R. Simplot Co., The Kraft Heinz Company, Nature’s Garden, Ardo, Goya Foods Inc. These players are focusing on new product launches and strategic partnerships to expand their market share. For instance, in October 2021, Greenyard NV launched a new line of frozen vegetables under its brand name, Bakker Barendrecht, to meet the growing demand for convenient and healthy food products.
The global frozen vegetables market is expected to witness significant growth over the forecast period owing to the increasing demand for convenient and healthy food products, the growing trend of plant-based diets, and the increasing demand for frozen vegetables in the foodservice industry. However, the perception that frozen vegetables are less nutritious than fresh vegetables and the availability of fresh vegetables year-round can be a hindrance to market growth. The market is highly competitive with key players focusing on new product launches and strategic partnerships to expand their market share.
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