The global frozen vegetables market is set to witness growth at a CAGR of 5.6% over the forecast period (2022-2032) and reach a valuation of US$ 55.8 Bn by 2032.
Frozen veggies have a longer shelf-life, as compared to fresh vegetables and are thus easier to transport in various parts of the globe. These are stored at a temperature that is lower than the freezing point.
Increasing working population in both developed and developing countries is anticipated to positively impact the demand for ready-to-cook or readymade food products. Besides, growing awareness regarding health benefits associated with the consumption of frozen veggies and high demand for frozen food products are predicted to drive the global frozen vegetables market during the assessment period (2022-2032).
Moreover, increasing purchasing power, rising spending capacity of consumers, and wider availability and affordability of frozen vegetables are expected to fuel growth in the market in the next ten years.
Additionally, rapidly changing lifestyles & diet schedules and adoption of healthier eating habits are set to drive the market. Surging number of large retail chains worldwide is another vital factor that is projected to accelerate growth in the market.
Key Takeaways: Frozen Vegetables Market
- Europe is expected to dominate the global market by accounting for the maximum share of about 30% in 2022, followed by North America.
- The U.S. is set to generate the largest frozen vegetables market share of nearly 82% in the evaluation period.
- By product type, frozen corn is expected to account for the lion’s share in the global frozen vegetables market by 2022.
- Based on distribution channel, online retailers are expected to grow at a steady pace, as compared to all the other segments over the assessment period (2022-2032).
- Rising number of convenience food sales outlets across the U.K. is anticipated to propel the Europe frozen vegetables market in the forthcoming years.
“Demand for frozen vegetables is increasing globally because of surging consumption by the health-conscious millennial population,” says a Future Market Insights analyst.
Competitive Landscape: Frozen Vegetables Market
Several key players are adopting numerous marketing and promotional strategies such as partnerships, collaborations, mergers & acquisitions, new product launches, and geographical expansions to compete with their rivals in the market.
More Valuable Insights on Frozen Vegetables Market
Future Market Insights, in its new report, offers an impartial analysis of the global frozen vegetables market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on product type (broccoli, green peas, asparagus, mushrooms, spinach, corn, green beans, and others), end user (food service industry and retail customers), and distribution channel (direct and indirect) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa) of the world.
Frozen Vegetables Market Outlook by Category
By Product Type:
- Green Peas
- Green Beans
By End Use:
- Food Service Industry
- Retail Customers
By Distribution Channel:
- Convenience Stores
- Grocery Stores
- Online Retailers
- Other Channels
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Frequently Asked Questions
- How much will the frozen vegetables market be worth in 2022?
- At what CAGR is the global frozen vegetables market expected to grow?
- Which strategies are being adopted by key players in the frozen vegetables market?
- How much share does the top 10 companies in the frozen vegetables market hold?
- Which are the major countries driving demand for frozen vegetables?
Information Source: https://www.futuremarketinsights.com/reports/frozen-vegetables-market