Global Frozen Vegetables Market Research Report forecast 2019-2026
Summary - A new
market study, titled “Global Frozen Vegetables Market -2019-2026” has been
featured on Wise Guy Reports.
FROZEN VEGETABLES MARKET
The Global Frozen Vegetables is expected to grow at a CAGR of
6.3% to reach a market value of USD 44019 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.
Market Dynamics: Drivers,
Restraints, Opportunities Challenges
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.
Key Segment:
Global Frozen Vegetables
Market, By Product Type:
• Asparagus
• Broccoli
• Green Peas
• Mushrooms
• Spinach
• Corn
• Green Beans
• 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 7.3% during the forecast
period.
Global Frozen Vegetables
Market, By End-use:
• Food Service
• Household
Household has the dominant
position in the Frozen vegetables market due to the more people asking for more
healthy food.
Geographical Landscape:
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.
COMPETITION LANDSCAPE:
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.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/4532868-global-frozen-vegetables-market-2019-2026
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