Frozen Vegetables Market 2018 Growth & Key Business Strategies by Leading Industry Players - Aryzta AG, General Mills Inc., Kraft Foods Group Inc., Ajinomoto Co. Inc., Cargill Incorporated, Europastry S.A., JBS S.A., Kellogg Company, Nestle S.A., and Flow

Increasing female participation in the workforce and changing family dynamics in Asia-Pacific have increased the demand for convenience food, which accelerates the frozen vegetables market.

The global frozen vegetables market was valued at $25,179 million in 2016, and is projected to reach $34,973 million by 2023, registering a CAGR of 4.7% from 2017 to 2023. In 2016, the frozen corn segment accounted for approximately one-third share of the global market, in terms of both value and volume.

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The freezing procedure preserves the vegetables for an extended time period without any preservatives and prevents microbial growth that may cause food decomposition. The ability to preserve the food by freezing has enabled the producer to make their products available to consumers anywhere worldwide. Vegetables such as asparagus, broccoli, green peas, mushrooms, spinach, corn, green beans can be made available to consumers in all seasons by freezing them.

Major Market Players Included in This Report:

• Aryzta AG, General Mills Inc.
• Kraft Foods Group Inc.
• Ajinomoto Co. Inc.
• Cargill Incorporated
• Europastry S.A.
• JBS S.A.
• Kellogg Company
• Nestle S.A.
• Flower Foods

A hectic lifestyle and high disposable income of individuals have increased the popularity of convenience food, which drives the frozen vegetable market. Growth of the retail network in emerging economies, such as India, China, Brazil, has led to increased availability of frozen vegetables, supplementing the market growth. However, negative perception of consumers related to nutritional content of frozen food, high cost of freezing technology, and poor freezing facilities in semi-urban and rural areas may impede the market growth.

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In 2016, the frozen corn segment generated the highest revenue, registering a CAGR of 6.0% from 2017 to 2023. Frozen corns are used at the commercial level via quick service restaurants (QSRs) such as McDonald's, Burger King, Pizza Hut, Dominos, and Subway.

Key Findings of the Frozen Vegetables Market:

• Asia-Pacific is expected to grow at the highest CAGR of 7.0% from 2017 to 2023, followed by LAMEA, in terms of value.
• In 2016, the frozen broccoli segment accounted for one-tenth share, in terms of value, and is expected to grow at a significant CAGR of 5.8%.
• U.S. generated the highest revenue, accounting for approximately one-fifth share of the global market in 2016.
• In 2016, retail customers end-user segment generated the highest revenue, and is expected to grow at a CAGR of 4.8%.
• In 2016, Europe generated the highest revenue, accounting for approximately two-fifths market share, in terms of value.

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