The modern lifestyle has distinctively shaped the dietary habits of the world. Demand for rare vegetables in off-seasons has led to the frozen vegetables market growth. The hard-to-find or afford fresh vegetables across the market are constantly supporting the frozen vegetables market. Moreover, the disposable income of rapidly urbanizing population coupled with advanced refrigeration technology and packaging is creating a growth in the frozen vegetable market. Since the advent of cryogenic freezing, the shelf life of frozen foods including vegetables has been extended without any preservatives. In July 2019, IceGen in alliance with JBT discovered an IceGen machine to bring advantages to juice or vegetable producers and exporters, by freezing the food without any refrigeration, keeping the color, overall quality, aroma, and taste intact. It also helps in transportation of the product without usage of any frozen storage machine.
The global frozen vegetables market size was evaluated at around $27.2 billion in 2018, which is expected to grow at a CAGR of 5.3%, during the forecast period 2019-2025.
The global frozen food market registered a revenue of around $225 billion-$228 billion in 2018, which is expected to witness an upsurge at a CAGR of 3.5%-5%, during the forecast period 2019-2025. The rise of ‘individually quick frozen’ (IQF) method, which involves passing of every individual piece of food through a blast chiller on a conveyor belt is assuring freshness in food even after thawing. Recent research by the University of California demonstrates only minimal difference is visualized between fresh and frozen vegetables. Moreover, research at the University of Georgia highlights that frozen veggies have higher nutrient level than other varieties. Hence, these research reports will create a positive impact on the frozen food market in the upcoming years, paving new opportunities for market vendors.
Frozen Vegetables Market Analysis: Key Application
Corn is majorly consumed frozen vegetables. In 2016, sweet corn crop value estimated at around $9 million, while 26% of it was utilized in the processing sector. This processed sweet corn was marketed across the world as both canned and frozen. Owing to easy availability and rising demand in the quick service restaurants and other food outlets, frozen corns are highly in demand. Also, the frozen pizza market which extensively uses frozen corns for both garnishing and crust making collected revenue of around $13 billion in 2018, and is poised to witness a growth at a CAGR of 7%, during the forecast period. Frozen corn has lesser calories than the fresh corns. Hence, frozen corns are highly preferred by health-conscious people. In 2016, more than 1.9 billion adults were overweight, hence, consuming frozen corn is beneficial in controlling regular calorie intake. The frozen corn segment of the frozen vegetables market is expected to grow at a CAGR of 6.2%, during the forecast period 2019-2025.
Frozen Vegetables Market: Competitive Landscape
The market players who are currently holding maximum frozen vegetables market shares in the world are focusing on expansion of their manufacturing capacity to gain an edge over other market players are ARYZTA AG, General Mills, Inc., Kraft Foods Group, Inc., Ajinomoto Co., Inc., Cargill, Incorporated, Europastry, SA, JBS S.A., The Kellogg Company, Nestlé S.A., Flowers Foods, and others.
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