Frozen Vegetables Market Set to Reach $38.84 Billion by 2025 with 5.0% CAGR: General Mills Inc. and Ajinomoto Co. Inc. Leading the Way

According to the report published by Allied Market Research, the global frozen vegetable market was pegged at $26.48 billion in 2017 and is projected to garner $38.84 billion by 2025, registering a CAGR of 5.0% from 2018 to 2025.

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Frozen vegetables are products that can be stored and used over a long period of time. The freezing procedure preserves vegetables for an extended time period without any preservatives and prevents microbial growth that may cause food decomposition. The ability to preserve food by freezing has enabled producers to make their products available to consumers anywhere across the globe. Although seasonal, vegetables such as asparagus, broccoli, green peas, mushrooms, spinach, corn, and green beans can be made available to consumers in all seasons by freezing them.

Growth of retail network in developing countries, rise in participation of females in the workforce, and increased consumption of frozen vegetables by QSRs have boosted the growth of the global frozen vegetable market. However, negative consumer perception related to nutritional content and poor freezing facilities in semi-urban and rural areas hamper the market growth. On the contrary, advancements in freezing technologies are expected to create lucrative opportunities soon.

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Based on end user, the market splits into the foodservice industry and retail customers. The retail customer segment held the largest share in 2017, accounting for more than two-thirds of the market. In addition, the segment is estimated to register the fastest CAGR of 5.1% during the study period.

The global frozen vegetable market report includes an in-depth analysis of the major market players such as General Mills Inc., Aryzta AG, Ajinomoto Co. Inc., Kraft Foods Group Inc., Europastry S.A., Cargill Incorporated, Kellogg Company, JBS S.A., Nestle S.A., and Flower Foods.

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Based on distribution channel, the supermarket/hypermarket segment dominated the market in 2017, as these retail formats provide an augmented shopping experience. Moreover, they offer a one-stop solution to many shopping needs, which boosts their popularity worldwide. The others segment, which includes convenience stores, and mom & pop stores, is expected to witness a steady growth rate during the forecast period, owing to an increase in the number of convenience stores. In addition, convenience stores and mom & pop stores are located near residential areas and require less effort purchasing goods. This ease of purchase adds to the popularity of others segment, thus acting as a key driver of the global frozen vegetables market.

The report identifies the corn segment as the current leader, thanks to its widespread availability and applications in various cuisines. However, the broccoli segment is poised for significant growth, fueled by the global focus on health and wellness.

Key findings of the Frozen Vegetables Market:

• Based on product, the corn segment was the highest contributor to the frozen vegetables market growth and is expected to grow at a CAGR of 6.2% from 2018 to 2025.

• Based on distribution channel, the supermarket/hypermarket segment was the highest contributor to the market in terms of value in 2017 and is estimated to grow at a CAGR of 5.1% from 2018 to 2025.

• Based on product, the broccoli segment is expected to grow at a steady CAGR of 6.0% from 2018 to 2025.

• Based on end user, the retail customers segment accounted for more than two-thirds in the frozen vegetables market share in 2017 and is estimated to grow at a CAGR of 5.1%.

• Based on distribution channel, the others segment accounted for is anticipated to grow at a CAGR of 5.0% during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.