Frozen Fruit Market Analysis 2020: By Uran Food Group Limited, Pinnacle Foods Inc., Kendall Frozen Fruits Inc., Ardo NV, SunOpta Inc., Welch Foods Inc., Agrana Beteiligungs, Kerry Group Plc, SICA SICODIS and Titan Frozen Fruits LLC.

The global frozen fruit market is projected to reach around US$ 3.2 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.0% during the forecast period (2019-2027).

Frozen fruit is one of the healthiest food items that one should consume as it is a rich source of vitamins, antioxidants, and minerals, all of which enhance the overall health. Frozen fruits are a convenient alternative of fresh fruits as this are not available throughout the year. The frozen fruits are picked at peak ripeness and once they are harvested the fruits are washed, blanched, cut, frozen and stored within a few hours. The frozen fruits are treated with ascorbic acid or sugar in order to prevent the spoiling. The nutrients level remains unchanged even after freezing.

Competitive Section

Key players operating in global frozen fruit market are Uran Food Group Limited, Pinnacle Foods Inc., Kendall Frozen Fruits Inc., Ardo NV, SunOpta Inc., Welch Foods Inc., Agrana Beteiligungs, Kerry Group Plc, SICA SICODIS and Titan Frozen Fruits LLC.

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Top players in the market

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Drivers

The rising number of the working population with a busy lifestyle is creating demand for ready-to-eat food products such as frozen fruits is expected to foster the market growth of frozen fruit. Frozen fruits can be consumed with minimal processing and a required portion of frozen fruits can be consumed, whereas the remaining quantity can be repacked after using for later use. This minimizes the wastage and ensure the ideal usage of fruit. These factors are anticipated to augment the market growth of frozen fruits.

Market Restraints

Perception of consumers associated with the lack of nutrients in frozen fruits is estimated to hinder the market growth of frozen fruits. As they are being perceived as processed foods with added preservatives but it has been changed to an extent across developed countries, such as Germany, U.S., and others. However, in some developing countries, it will take some time to change the consumer mindset regarding frozen fruits. This factor is projected to hinder the market growth of frozen fruit.

Market Opportunities

Increasing penetration of retail and online shopping sector around the globe is expected to augment the market growth of frozen fruits. Moreover, the advent of modern retail formats, such as convenience stores, especially in Asian countries is increasing product visibility and easy accessibility to frozen fruits, to consumers which are estimated to augment the market growth of frozen fruits. According to our primary sources, China's e-commerce retail sales are anticipated to reach up to US$ 1,500 Billion by 2018 as compared to US$ 670 Billion in 2015

Market Trends

Increasing focus of manufacturers to expand the frozen fruits product range is a major trend that has been observed in the market of frozen fruits. For instance, in October 2018, FMCG companies have announced to expand the ready-to-eat products with the range of frozen food products in an attempt to diversify and make themselves more appealing to consumers for whom elaborate cooking is not always an option and prefer a quick heat-and-eat style.

On the basis of application, in 2018, fruit-based beverages segment has accounted the largest market share of 43.3% in terms of value, followed by diary and confectionary & bakery respectively.

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