Growth and Trends in the Global Frozen Vegetables Market

Growth and Trends in the Global Frozen Vegetables Market

 

According to Next Move Strategy Consulting, the global Frozen Vegetables Market is predicted to reach USD 50 billion by 2030 with a CAGR of 5% from 2022-2030. These vegetables, preserved at low temperatures, retain their essential nutrients, such as carotene, which is vital for synthesizing vitamin A in the body. Freezing also helps to prevent oxidation, ensuring that the vegetables retain their flavor and nutrition for longer periods. Major buyers in the market include businesses like hotels, caterers, restaurants, and fast-food chains, all of which are increasingly turning to frozen vegetables to meet the demand for quick and convenient meal solutions.

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The demand for frozen vegetables is rising due to changes in consumer lifestyles, particularly the growing preference for ready-made meals and the rise in disposable incomes. In addition, increasing awareness about the nutritional benefits of frozen vegetables, such as high fiber content and easy preparation, is expected to further drive market growth. As consumers opt for healthier and more convenient food choices, frozen vegetables are becoming an essential part of modern kitchens.

However, despite the growing popularity, some challenges hinder the market’s growth. One of the main concerns is the misconception that frozen vegetables are nutritionally inferior to fresh ones. Additionally, the lack of proper freezing infrastructure in rural and semi-urban areas remains a significant barrier. These challenges, though, are expected to diminish with increasing investment in food storage facilities and education on the benefits of frozen vegetables.

The market is segmented by product type, nature, end-user, distribution channel, and geography. The major product types include asparagus, cauliflower, broccoli, green peas, mushrooms, spinach, corn, and green beans. The market is also divided into organic and conventional categories, offering consumers a variety of options based on their preferences. The end-user market includes both food service industries and retail customers. In terms of distribution channels, supermarkets/hypermarkets, discounters, and convenience stores dominate the market.

Regional Insights and Trends 

Europe holds the largest share of the frozen vegetables market and is expected to maintain its dominance during the forecast period. Factors such as the growing demand for convenience food, a shift towards healthier lifestyles, and strong purchasing power are driving growth in this region. Additionally, Europe is experiencing a shift from high-fat food products to low-fat, high-protein vegetables, which further boosts the market.

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Key Players and Industry Developments 

The market is highly competitive, with major players such as ITC Limited, General Mills Inc., Aryzta AG, Mother Dairy Fruit & Vegetable Pvt. Ltd., and Ajinomoto Foods dominating the industry. These companies are engaging in continuous research and development initiatives, process innovations, and industrial collaborations to improve product offerings and expand their geographical reach. For example, in June 2020, ITC Limited announced an increase in the sourcing of fruits and vegetables to cater to the rising demand for safe, nutritious food in the wake of the COVID-19 pandemic. Similarly, in January 2021, Mother Dairy revealed plans to double its sales of Safal frozen vegetables by expanding the availability of products across retail outlets in the National Capital Region.

Conclusion

The frozen vegetables market is poised for significant growth due to increasing consumer demand for convenient, nutritious food options. With strong market trends and innovations from key players, the market is expected to continue expanding. Overcoming barriers such as misconceptions about nutritional value and enhancing freezing infrastructure will further support the market's development. As consumer preferences shift towards healthy, ready-to-eat meals, the demand for frozen vegetables will likely remain robust.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

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