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The frozen vegetables market size is forecast to increase by USD 8.7 billion, at a CAGR of 4.48% between 2023 and 2028. The availability of frozen vegetables has surged, providing a steady supply of produce during off-seasons and meeting consumer demand year-round. This trend is bolstered by the increasing participation of women in the workforce, which has led to higher household incomes and a greater need for convenient meal solutions. As more women balance professional and personal responsibilities, frozen vegetables offer a practical choice for quick, nutritious meals. Additionally, the growing restaurant and food service industry is driving the demand for frozen vegetables, as establishments seek reliable, cost-effective ingredients that ensure consistent quality. This combination of factors enhanced availability of frozen vegetables, rising female workforce participation, and a booming food service sector creates a robust market for frozen produce, catering to both individual consumers and the food industry alike.
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The global frozen vegetable market is witnessing significant growth due to the increasing demand for convenience foods and the younger population's preference for snack options. Urbanization and technological developments have further propelled the market's growth. However, challenges such as raw material shortage and shipping delays can impact sales revenue. Frozen vegetable companies are focusing on improving product quality and innovation to cater to evolving consumer preferences. The market's growth is also influenced by the economic slowdown, making frozen vegetables an affordable alternative to fresh produce for many consumers. Actual veggies in frozen form offer numerous benefits such as longer shelf life, convenience, and nutritional value. Retail channels, including supermarkets and hypermarkets, dominate the market due to their wide reach and large customer base. As a Principal Consultant, observed that the younger population increasingly favors black bean veggie burger and super greens veggie burger for their health benefits and sustainability Technological developments, such as improved freezing techniques and packaging, are expected to further boost the market's growth. Educational initiatives promoting the health benefits of frozen vegetables are also contributing to the market's expansion. Despite these positive factors, the market faces challenges such as the perception of lower nutritional value compared to fresh produce and the availability of alternative convenience food options.
The availability of frozen vegetables during off-season is notably driving market growth. Frozen vegetables have gained significant popularity in today's fast-paced world as they offer the convenience of being available year-round, unlike fresh produce. The convenience factor is further accentuated by the fact that frozen vegetables yield more servings per kilogram than their fresh counterparts, as they are pre-cleaned, blanched, and ready-to-cook. The demand for frozen vegetables is particularly high during off-season periods when fresh vegetables may not be readily available. The primary sources of seasonal vegetables in the UK during winter are primarily from Southern Europe, Africa, and South America, which are often subject to raw material shortages and shipping delays due to economic slowdowns and the novel coronavirus pandemic. Frozen vegetable companies have been capitalizing on this trend by offering a wide range of products, including meal solutions and snack options, to cater to the changing consumer preferences. Younger populations, with their professional commitments and busy lifestyles, are increasingly favoring convenience foods, leading to a surge in demand for frozen vegetable products. Technological developments, such as cold chain solutions and aesthetic packaging, have further enhanced the appeal of frozen vegetables.
However, operational costs, including energy use, raw materials, and storage facilities, remain significant challenges for frozen food market players. Sustainability concerns, particularly with regard to agricultural methods and packaging materials, are also gaining attention. According to RaboBank's latest report on the frozen food market, consumer favoritism towards convenience food products, driven by millennial populations, is expected to continue driving growth in the sector. The report also highlights the importance of retail channels, including retail outlets and social media platforms, in reaching consumers and building brand loyalty. Despite these challenges and opportunities, the frozen vegetable market is poised for continued growth, offering numerous prospects for stakeholders. Thus, such factors are driving the growth of the market during the forecast period.
Technological developments in the frozen vegetables market is the key trend in the market. The frozen vegetables market has witnessed significant advancements, with innovations such as dehydrofreezing and individually quick-frozen (IQF) methods gaining popularity. Dehydrofreezing, an advanced preservation technique, combines drying and freezing processes. Vegetables undergo dehydration to achieve an optimal moisture content before being frozen at temperatures below -18 degrees Celsius. Osmotic dehydration in a sodium chloride solution is utilized to remove excess water. IQF, on the other hand, rapidly freezes each vegetable individually, preserving their texture and nutritional value. These methods cater to the increasing demand for convenience foods among younger populations and urbanized communities. Retail channels, including supermarkets and retail outlets, have been major consumers of frozen vegetables.
However, raw material shortages, shipping delays, and economic slowdowns pose challenges to frozen vegetable companies. Technological developments, such as cold chain solutions and aesthetic packaging, have been instrumental in enhancing the market's growth. Novel coronavirus outbreaks and consumer favoritism towards meal solutions and convenience food products have further boosted demand. Sustainability concerns have led to improvements in operational costs, raw materials, storage facilities, energy use, and packaging materials. The frozen food market's future lies in catering to millennial populations and their professional commitments, offering longer shelf life, and addressing nutritional value concerns. RaboBank reports indicate that consumer preferences for frozen vegetables are on the rise, making it a promising industry. Thus, such trends will shape the growth of the market during the forecast period.
Inadequate cold chain and logistics facilities is the major challenge that affects the growth of the market. The frozen vegetables market experiences several challenges, primarily in the realm of cold chain and transportation. These perishable food items necessitate preservation in cold storage systems during transit from processing units to retail channels. Adequate cold storage containers are essential to maintain the required temperature and prevent contamination or spoilage. Developing countries encounter significant hurdles due to insufficient cold chain infrastructure and logistics. Raw material shortages, shipping delays, and economic slowdowns further complicate matters. Principal consultants emphasize the importance of investing in operational costs for raw materials, storage facilities, energy use, and packaging materials. Technological developments, such as novel cold chain solutions and aesthetic packaging, cater to the preferences of younger populations and millennial consumers.
Further, the frozen food market continues to expand, driven by convenience products and meal solutions, despite the challenges posed by the novel coronavirus. RaboBank reports that consumer favoritism for convenience foods and professional commitments have extended the shelf life of frozen vegetables, making them a popular snack option. Sustainability remains a critical concern, with agricultural methods and packaging materials under scrutiny. Retail outlets and social media platforms play a significant role in promoting the frozen vegetable market. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. The Frozen Vegetables Market has experienced significant growth due to the increasing preference for convenience foods among younger populations and urbanized communities. Frozen vegetables offer the benefits of fresh produce without the need for extensive preparation or the constraints of limited shelf life. However, challenges such as raw material shortages, shipping delays, and economic slowdowns can impact the operational costs and sustainability of frozen vegetable companies. Principal consultants emphasize the importance of cold chain solutions and advanced technological developments in addressing these issues.
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The offline segment accounted for USD 27.70 billion in 2018. Consumers favor convenience products, such as frozen vegetables, for their nutritional value and long shelf life, especially during the novel coronavirus pandemic. RaboBank reports that the convenience food market, including frozen vegetables, is expected to continue growing, driven by professional commitments and millennial populations. Frozen vegetable companies invest in energy-efficient storage facilities and packaging materials to minimize operational costs and promote sustainability. Agricultural methods and novel farming techniques are also being explored to ensure a consistent raw material supply. The frozen food market continues to evolve, with aesthetic packaging and meal solutions gaining popularity on social media platforms.
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Europe is estimated to contribute 56% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The novel coronavirus pandemic has further fueled the demand for convenience food products, as consumers turn to frozen vegetables as a snack option during lockdowns. Despite these challenges, the frozen food market continues to expand, driven by consumer favoritism for nutritional value and sustainability. RaboBank reports that agricultural methods and energy use in frozen vegetable production are under scrutiny for their environmental impact.
As a result, there is a growing emphasis on sustainability in the industry. Retail channels, including retail outlets and online platforms, are leveraging social media to promote their frozen vegetable offerings to wider audiences. With the convenience and nutritional benefits of frozen vegetables, it is expected that the market will continue to thrive in the coming years.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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Thriving Amidst Challenges and Consumer Preferences Frozen vegetables have emerged as a popular alternative to fresh produce, especially among younger populations and those with professional commitments. The convenience factor of frozen vegetables as snack options or meal solutions has propelled their demand in retail channels. However, the frozen vegetable market faces challenges such as raw material shortages and shipping delays due to economic slowdowns. Frozen vegetable companies are addressing these issues by investing in operational costs for raw materials, storage facilities, and energy use. Technological developments in cold chain solutions and aesthetic packaging have also been instrumental in enhancing the market's growth. Urbanization and sustainability are other significant factors driving the frozen vegetable market.
Moreover, frozen food markets are increasingly focusing on nutritional value, offering meal solutions that cater to millennial populations' preferences. The novel coronavirus pandemic has further boosted the demand for convenience food products. Principal consultants predict a positive outlook for the frozen vegetable market, despite challenges such as energy use and packaging materials. RaboBank reports consumer favoritism towards frozen vegetables due to their extended shelf life and affordability. The market's future looks promising as it continues to adapt to changing consumer trends and preferences.
Market Scope |
|
Report Coverage |
Details |
Page number |
146 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.48% |
Market growth 2024-2028 |
USD 8.7 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 56% |
Key countries |
US, Germany, UK, China, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ajinomoto Co. Inc., Ardo Coordination Center NV, B and G Foods Inc., Conagra Brands Inc., Congeladora Horticola S.A. de C.V., General Mills Inc., Goya Foods Inc., Greenyard NV, Hormel Foods Corp., J.R. Simplot Co., Kellogg Co., McCain Foods Ltd., Nestle SA, Newberry International Produce Ltd., Nomad Foods Ltd., The Hain Celestial Group Inc., The Kraft Heinz Co., Uren Food Group Ltd., and Waitrose and Partners |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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