Frozen Fruits market Opportunity Analysis Till 2021 – Market Is Expected To Witness A Significant CAGR Over The Forecast Period
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The global frozen fruits market has been estimated to be valued at USD 1,825.0 Million in 2015 and is expected to witness a significant CAGR over the forecast period i.e. 2015-2021. In term of revenue, Europe dominated the global frozen fruits market in 2015. In Europe, Russia frozen fruits market is expected to exhibit the highest compound annual growth over the forecasted period i.e. 2015-2021.
Increasing urbanization as well as an inclination in disposable income of developing and emerging countries such as India and China and change in lifestyle is anticipated to expand the Asia pacific region growth in frozen fruits over the next few years. Innovation in freezing technology and development of cold logistics are some of the key driver of global frozen fruits market during the period 2015-2021.
However, rise of contamination and higher preference of fresh fruits over frozen fruits are likely to hamper the market growth over coming few years.
Global frozen fruits market has been segmented on the basis of fruits type, technology and application.
On the basis of fruit type, the global frozen fruits market is segmented into frozen red fruits and berries, tropical frozen fruits and citrus frozen fruits. With 53.3% share in 2015, frozen red fruits and berries dominated the global frozen fruits market. However, global frozen fruits market is anticipated to witness the highest CAGR by the end of the forecast period i.e. 2021. Based on technology, the market is segmented into IQF (Individually quick freeze) and freeze dry technology. IQF technology dominated the market in 2015 and is further estimated to continue its dominance over the forecast period i.e. 2015-2021.
The global frozen fruits market is segmented on the basis of applications into dairy, confectionary & bakery, beverages, jams and preserves and others. With the highest share in 2015, beverage industry dominated the global frozen fruits market in terms of revenue and is further estimated to witness the highest compound annual growth rate (CAGR) over the forecast period i.e. 2015-2021.
Conclusively, willingness of consumers to consume different variety of fruits at all time of the year, growing awareness about nutritional value of frozen fruits and increasing inclination of people towards convenience food options is expected to garner the growth of global frozen fruits market in the coming future.
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