The Global Frozen Vegetables Market size is expected to reach $49.2 billion by 2030, rising at a market growth of 5.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 15,584.3 kilo tonnes experiencing a growth of 5.7% (2019-2022).
The broccoli industry is experiencing consistent global growth since consumers perceive it as an exceptionally nutritious vegetable due to its high vitamin and mineral content Consequently, the Broccoli segment would generate approximately 12.7% share of the market by 2030. Due to a significant increase in consumption over the past few decades, broccoli is among the most consumed raw vegetables. Individuals seeking a practical and cost-effective method to increase their vegetable consumption consider frozen broccoli a nutritious alternative. Some of the factors affecting the market are long shelf life of frozen vegetables, increasing consumer demand for frozen vegetables, and high prices of frozen vegetables.
Demand for frozen foods is increasing as a result of the technological advancements utilized in their production. With freeze-drying, air-drying, and hoover-drying techniques, preserving and ingesting fruits, vegetables, and other consumable foods for prolonged durations is feasible. Thus, market expansion is propelled by the extended expiration life of frozen food products. Furthermore, the stringent work culture in urban areas has increased working hours, impeding individuals' ability to dedicate time to cooking. As a result of their chaotic schedules, consumers are obligated to select packaged and ready-to-eat meals. Due to these factors, the market is witnessing significant growth.
However, despite its multiple advantages, the frozen vegetable industry needs to catch up to its high prices. Frozen vegetables are frequently priced higher than their fresh counterparts, potentially discouraging price-conscious consumers from selecting frozen alternatives over their new partners. The price variation may be attributed to many factors, encompassing the costs linked to the procedures for processing, packaging, and chilling the vegetables to preserve their nutritional integrity and overall quality. Hence, high prices of frozen vegetables can impede market growth.
Based on the end user, the market is bifurcated into the food service industry and retail customers. In 2022, the food service industry segment recorded the largest revenue share in the market. Pre-cut and pre-prepared frozen vegetables provide a consistent quality while conserving labor and time in commercial kitchens. Compared with fresh produce, frozen vegetables have an increased shelf life, reducing food waste in the food service sector. This feature offers notable benefits in terms of inventory management and deterioration prevention. Frozen vegetables are accessible throughout the entire year, regardless of seasonal fluctuations. This enables eateries to offer various vegetables on their menus year-round.
On the basis of product, the market is fragmented into corn, green peas, broccoli asparagus, mushroom, green beans, spinach, and others. In 2022, mushroom witnessed a considerable revenue share in the market. Certain mushrooms, like reishi and shiitake, contain compounds that may enhance the immune system, helping the body fight illness. Mushrooms that have been swiftly cooled and frozen to preserve the nutritional value of fresh mushrooms are considered frozen. In contrast to their conventional counterparts, frozen mushrooms have an approximate 24-month shelf life. There are numerous medical and culinary applications for frozen mushrooms.
On the basis of distribution channel, the market is divided into offline and online. The offline segment procured the highest revenue share in the market in 2022. Offline distribution channels like supermarkets, grocery stores, and convenience stores offer easy access to a wide variety of frozen vegetables. Physical stores usually offer a vast selection of frozen vegetables, providing consumers with various options and brands to choose from. Offline stores frequently offer promotions, discounts, and bulk-buying deals on frozen vegetables. These offers attract customers and encourage them to purchase larger quantities, especially during sales or seasonal promotions. These benefits of offline distribution channels are aiding in expanding the segment’s growth.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 32.1 Billion |
| Market size forecast in 2030 | USD 49.2 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.6% from 2023 to 2030 |
| Number of Pages | 377 |
| Number of Table | 750 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Distribution Channel, End User, Region |
| Country scope |
|
| Companies Included | Aryzta AG, General Mills Inc., The Kraft Heinz Company, Ajinomoto Co., Inc., Cargill, Incorporated, Europastry, S.A., Conagra Brands, Inc., Kellogg Company, Nestle S.A., Flowers Foods, Inc. |
| Growth Drivers |
|
| Restraints |
|
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region generated a substantial revenue share in the market in 2022. The considerable consumer bases of Japan, China, and India for processed and frozen vegetables will propel regional demand. Furthermore, the region is anticipated to experience significant growth driven by increasing disposable income and population. Moreover, an increase in the number of health-conscious customers is expected to contribute to the expansion of the industry in the coming years.
Free Valuable Insights: Global Frozen Vegetables Market size to reach USD 49.2 Billion by 2030
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Aryzta AG, General Mills Inc., The Kraft Heinz Company, Ajinomoto Co., Inc., Cargill, Incorporated, Europastry, S.A., Conagra Brands, Inc., Kellogg Company, Nestle S.A., Flowers Foods, Inc.
By End User (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD 49.2 billion by 2030.
Long shelf life of frozen vegetables are driving the Market in coming years, however, High prices of frozen vegetables restraints the growth of the Market.
Aryzta AG, General Mills Inc., The Kraft Heinz Company, Ajinomoto Co., Inc., Cargill, Incorporated, Europastry, S.A., Conagra Brands, Inc., Kellogg Company, Nestle S.A., Flowers Foods, Inc.
In the year 2022, the market attained a volume of 15,584.3 kilo tonnes experiencing a growth of 5.7% (2019-2022).
The Corn segment is leading the Market, by Product in 2022, thereby achieving a market value of $10 billion by 2030.
The Europe region dominated the Market, by region in 2022, thereby achieving a market value of $17 billion by 2030, growing at a CAGR of 5.2 % during the forecast period.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 