The global frozen vegetable market is evaluated at US$26.669 billion for the year 2019 and is projected to grow at a CAGR of 4.34% reaching the market size of US$35.915 billion by the year 2026.
Frozen vegetables are those which are kept at a temperature below the freezing point for the purpose of storage and until they can be readily consumed. Broccoli, spinach, yam, corn, peas, and others are some examples of frozen vegetables that are found in the supermarket. Deep frozen vegetables are products that can be stored and used over a long period of time. Freezing helps to retain the essential nutrients in vegetables, such as carotenes, which are essential to synthesize vitamin A in the body. In addition, to avoid food wastage, meet the needs of the rising population, and keep the food businesses competitive & profitable, preservation of food by freezing is adopted by various food manufacturers. Frozen vegetables are sometimes offered with additional sauces which make a flavourful side dish, but such dishes from some brands can contain a high amount of sodium which could increase the probability of hypertension and heart disease.
Key market drivers.
Growing working population coupled with a hectic work schedule and improving living standards results in higher consumption of frozen vegetables while propelling the market growth. The increasing awareness about the health benefits offered by frozen vegetables and the rise in the sedentary population contributes to the global market for frozen vegetables. Other factors include expanding middle class coupled with rising disposable income and acceleration of urbanization, especially in developing countries. However, factors like a constant fixed temperature requirement and consumer perception of frozen vegetables may impact the market growth negatively.
The increase in demand and consumption of frozen foods in the emerging markets of Asia-Pacific such as India and China has significantly fueled the growth of the global frozen food market. A rise in disposable income and change in lifestyle & food habits further boost the market growth. Moreover, the rapid increase in the number of large retail chains, including hypermarkets and supermarkets, propels the demand for frozen vegetables. The growth female workforce has increased the dependency on readymade and convenient food products, which in turn increases the demand for frozen vegetables, thereby accelerating the frozen vegetable market growth. However, consumer perception about low nutritional content in frozen foods and lack of proper refrigeration facilities in semi-urban & rural areas restrain the growth of the market. On the contrary, advancements in freezing technologies are expected to provide lucrative opportunities for the frozen vegetable market growth.
GLOBAL Frozen vegetable market, US$ billion, 2020 to 2026
Source: Knowledge Sourcing Intelligence Analysis
The rapid pace of urbanization, especially in the developing economies, coupled with growing disposable income and rising influence, has allowed convenience products to take the center stage with regards to different fruits and vegetables. Altering technological advancements, along with aesthetic packaging, ease of storage, and all-around availability, are boosting the demand for frozen vegetables. The presence of well-balanced cold chain solutions and connected retail outlets have led to dramatic sales of the market, where most of the product portfolios are largely catered by local mid-and small-sized farms.
The advent of COVID-19 had a positive impact on the frozen vegetable market. Due to the COVID-19, the frozen vegetable market has been performing well following the onset of the novel coronavirus. As stockpiling eventually dissipated, a couple of key factors continued to work in this category’s favor. The growing appreciation of how important a good level of base health was in avoiding the worst effects of Covid-19. The second was the increase in cooking. As eating occasions massively shifted to in-home, people had to work from their households, and restaurants, bars, cafes, etc. closed. The fact that frozen vegetable is able to retain the nutritional value for a long period, and in turn helps bring down the number of times consumers have to visit the shop or outlet, which also works in favor of the market. Although the COVID-19 impact on the cold chain supply has been significant, the evolving buying patterns of the consumers with more inclination towards health have helped the frozen vegetable market develop faster than expected.
Increasing traction towards convenience food products is expected to fuel the market during the forecast period.
Since, globally, the younger population (particularly from the developing countries like India and China), is actively engaged in various professional commitments, they are increasingly looking for food products that can be stored and instantly eaten, also with more shelf life. Therefore, working millennials prefer to buy frozen veggies in order to decrease the vegetable cutting and buying time on a regular basis. On the other hand, the surge in demand for frozen vegetables seems to be more favorable for products that are convenient to eat and prepare as well. A study analyzed by RaboBank states that the import of frozen sweet potatoes in the European Union, particularly from the United States, has tripled over the last four years, hence citing the level of consumer favoritism in devouring the product.
|Market size value in 2019||US$26.669 billion|
|Market size value in 2026||US$35.915 billion|
|Growth Rate||CAGR of 4.34% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||General Mills Inc, Conagra Brands, Pictsweet Farms, Mother Dairy Fruit & Vegetable Pvt. Ltd., Bonduelle Group, Greenyard, ITC Brands, Vivartia, Al-Kabeer Group, Earthbound Farm|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the frozen vegetable market size by 2026?
A1. The global frozen vegetable market is projected to reach a market size of US$35.915 billion in 2026.
Q2. What is the size of global frozen vegetable market?
A2. Frozen Vegetables Market was valued at US$26.669 billion in 2019.
Q3. What are the growth prospects for the frozen vegetable market?
A3. The frozen vegetable market is projected to grow at a CAGR of 4.34% over the forecast period.
Q4. What factors are anticipated to drive the frozen vegetable market growth?
A4. Growing working population coupled with a hectic work schedule and improving living standards results in higher consumption of frozen vegetables while propelling the market growth.
Q5. Who are the major players in the frozen vegetable market?
A5. Prominent key market players in the frozen vegetable market include General Mills Inc, Conagra Brands, Pictsweet Farms, Mother Dairy Fruit & Vegetable Pvt. Ltd., Bonduelle Group, Greenyard, ITC Brands, among others.
General Mills Inc
Mother Dairy Fruit & Vegetable Pvt. Ltd.
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