Frozen Vegetables Market by Manufacturers, Sale, Demand and Supply Analysis Forecast 2021-2030

The Frozen Vegetables Market size was valued at USD 33.36 billion in 2021 and is predicted to reach USD 49.99 billion by 2030 with a CAGR of 4.6% from 2022-2030.

Frozen Vegetables are stored at a very low temperature for the purpose of transportation and storage until they are being consumed. Their temperature is maintained below their freezing point in order to retain the essential nutrients, such as carotene, which is essential to synthesize vitamin A in the body. Preservation of vegetables by freezing also reduces their oxidation process. Business buyers such as hotels, caterers, restaurants, and fast-food chains are among major buyers of frozen food products including frozen vegetables, fruits, and non-veg items.

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Competitive Landscape

The market comprises of various players such as ITC Limited, General Mills Inc., Aryzta AG, Mother Dairy Fruit & Vegetable Pvt. Ltd, Ajinomoto Foods, Goya Foods incorporation, Flowers Foods, Iceland Foods Ltd., Kellogg Co., Nature’s Garden, Conagra Brands, Inc., and Cascadian Farm Organic. These manufacturers are actively indulging in R&D initiatives, process innovations, and industrial collaborations to enhance their products and increase their geographical reach. For instance, in June 2020, ITC Limited had announced that it would increase the sourcing of fruits and vegetables, that would help the company to strengthen its “Farmland” brand by catering to the emerging consumer demand for safe and nutritious food in the wake of the Covid-19 pandemic. The company has extended its product offerings under the Farmland brand by launching frozen vegetables such as peas, tomato, and onion. Also, in January 2021, Mother Dairy announced that they are planning to double their sales volume of safal frozen vegetables from the existing 5500 MT to 11000 MT in the next three years. The company is introducing drumsticks and cut okra in the frozen vegetable segment. Safal’s frozen vegetable range includes frozen peas, corn, frozen jackfruit, and mixed vegetables. These products will soon be made available across its 300 plus fruit & vegetable outlets in the National Capital Region, which will gradually be expanded to general retail outlets.

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Market Segmentations and Scope of the Study:

The frozen vegetables market has been segmented based on product type, nature, end-user, distribution channel, and geography. Based on product type, the market is bifurcated into asparagus, cauliflower, broccoli, green peas, mushrooms, spinach, corn, green beans, and others. Based on nature, the market is divided into organic and conventional. Based on end user, the market is bifurcated into food service industry and retail customers. Based on distribution channel, the market is divided into discounters, supermarkets/hypermarkets, convenience stores, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Europe holds the lion share of frozen vegetables market and is expected to continue dominating the market during the forecast period. This is attributed to factors such as rise in demand for convenience food, coupled with rapid growth in the food industry and strong purchasing power of consumers. Also, consumers in the region are becoming inclined toward vegan and healthy food as a part of lifestyle change. Moreover, there has been a considerable shift from high-fat food products to low-fat and high-protein vegetables and fruits. Hence, these trends are boosting market growth in this region.

However, Asia Pacific is expected to show a steady rise in the frozen vegetables market due to the increase in consumption of frozen foods. Also, rapid increase in number of large retail chains, including hypermarkets and supermarkets, propels the demand for frozen vegetables in this region.

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