The global frozen vegetables market was valued at US$ 18,182.86 million in 2019 and is expected to grow at a CAGR of 4.3% from 2019 to 2027 to reach US$ 25,381.14 million by 2027.
The global frozen vegetables market is expected to register a growth rate of 4.3% during the forecast period. The market growth is attributed to the growing number of fast food restaurants and increasing demand for convenience food. However, increasing demand for fresh food products especially in the developed nations is restraining the market growth. Surging consumption of organic frozen vegetables is expected to offer growth opportunities to the vendors active in the global frozen vegetables market.
Based on type, the frozen vegetables market is segmented into potato, green peas, spinach, mushrooms, corn, mixed vegetables, broccoli, carrot, and others. The mixed vegetables segment accounted for the largest share in the market in 2019, and the corn segment is expected to register the highest CAGR during the forecast period. Mixed vegetables are mainly ready-to-use combination of cut vegetables. These vegetables can be chopped, sliced, cubed, and diced. Mostly, the combination of mixed vegetables comprises cauliflower, cabbage, carrots, French beans, broccoli, and green peas. There is no burden of peeling, washing, and cutting in case of picking up frozen mixed vegetables from stores. Also, they are very convenient to cook within a short period; therefore frozen mixed veggies have significant demand among consumers.
Based on geography, the global frozen vegetables market is segmented into North America, Europe, Asia-Pacific, South America, the Middle East and Africa. Europe holds the largest share in the market, followed by North America. The Rest of Europe is dominating the frozen vegetables market in Europe, followed by France and Germany. The market in the Rest of Europe is estimated to be the largest in Europe region. The growth of frozen vegetables market in Europe is driven by the continuous changes in the consumption patterns of the European consumers, which includes ’ready to eat’ and ’easy to prepare’ meals. Further, the replacement of food from animal sources with vegetable alternatives is again influencing the market growth.
A few of the players operating in the global frozen vegetables market are Conagra Brands Inc.; Goya Foods, Inc.; B&G Foods, Inc.; Bhanu Farms; Cascadian Farm Organic; Foodnet Ltd; CROP’S UK; Bonduelle; Nature’s Garden; and Ardo.
The overall global frozen vegetables market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers as well as external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global frozen vegetables market.