The "Frozen Fruit Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global frozen fruit market size is expected to grow at a compound annual growth rate of 6.74% over the forecast period to reach a market size of US$6.366 billion in 2027 from US$4.034 billion in 2020.
Companies Mentioned
- Val-Mex Frozen Foods, LLC
- Willamette Valley Fruit Company (OPC)
- Antillal
- De Marchi and Industry Fruits Ltda
- Dawtona Frozen
- Greenyard
- Euroberry Pty Ltd
- Cold Alex
- Entyce Food Ingredients Pty Ltd
- TOMCO PRODUCE GROUP Co Limited
Increasing demand for exotic fruits, a yearlong availability of non-seasonal fruits, especially due to advancements in refrigeration technologies coupled with rapid growth in food processing firms, rapid urbanization, and growing application of frozen food in a variety of food and beverage products as well the rising cognizance as associated health benefits are a few factors which are fundamental to the frozen fruit market.
Additional factors responsible for the growth are rapid innovations in food packaging, growing availability in disposable income, and expanding offline and online retail space. Also, the consumption of frozen fruit is preferred because it is considered better than canned and dehydrated fruit.
Above all, the sensorial characteristics are comparatively well retained along with nutritional aspects. Nevertheless, the trade disruption experienced during COVID-19 is expected to create a downward draft in the frozen fruit Market Trends: to a certain extent.
The European region is expected to hold a substantial share of the global frozen fruit market and facilitate the anticipated growth of the same.
The primary reason which is expected to bring the aforementioned in effect is the growing inclination toward consuming food that is easy to prepare and nutritious at the same time. Except in certain regions with their microclimate, tropical fruits cannot be cultivated throughout Europe. Thus, the growing markets of Eastern Europe, as well as Europe, offer many opportunities for the growth of this market.
Frozen tropical fruits and berries are expected to occupy a significant market share enabling the growth of the global frozen fruit market around the world. Berries have emerged as one of the most frequently desired fruit because of their increasing cognizance as a super-fruit due to the naturally occurring high amounts of antioxidants and other nutrients.
The demand for berries has been further propelled by the increasing popularity of a variety of healthy snacking options and smoothies, among others, and the rising innovation in food products leading to its use by the food processing industry.
According to the estimates by Ministerie van Landbouw, NatuurenVoedselkwaliteit, which is the Dutch Ministry responsible for agricultural policy, animal welfare, fisheries, food policy, food safety, forestry, and natural conservation, a stable growth pertaining to frozen berries is expected to be experienced by the European market.
Further, reportedly European imports of frozen fruits and berries grew every year by an average of 5.0% in value and 8.0% in volume to a value of €1.5 billion and a quantity of 935 thousand tons in 2018. Thus, the higher growth in volume than in value reported indicates a decrease in import prices over the last five years.
Key Developments
Owing to the growing increasing demand for exotic and seasonal fruits, as well as with the increasing advancements in the refrigeration industry, the frozen fruit market has seen tremendous growth.
In May 2022, Hortifrut announced the opening of a new distribution centre in Ireland as well as collaboration in India to help the company extend its reach. This was done to participate directly in emerging consumer trends and to keep our European and Asian expansions on track, where they expect to see the most growth in the future.
Iceland and Del Monte have teamed up to launch a huge new frozen fruit line. In May 2021, Iceland and The Food Warehouse launched an exclusive range of Del Monte frozen fruits in stores and online. From Del Monte Lime Slices to Del Monte Orange Slices, the collection contained 11 types of the finest frozen fruits.
Impact of COVID-19 pandemic
The COVID-19 viral outbreak resulted in a spike in infection rates, prompting nations throughout the world to initiate global lockdowns.
As a result, market demand for frozen fruit decreased as most manufacturing and supply links were disrupted. Since most agricultural producers were unable to supply their produced fruits to frozen fruit manufacturers, the market demand suffered. With the closure of supermarkets and frozen food stores, the market demand decreased substantially. Furthermore, with the majority of sectors already resuming operations, the frozen fruit market is expected to grow in demand.
Market Segmentation
By Product
- Berries
- Citrus Fruits
- Tropical Fruits
By Form
- Whole
- Cubed
- Sliced
By Source
- Organic
- Inorganic
By Distribution Channel
- Online
- Offline
By Application
- Confectionery and Bakery
- Dairy Products
- Fruit Based Beverages
- Jams & Preserves
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- Germany
- UK
- France
- Italy
- Middle East and Africa
- Egypt
- South Africa
- Asia Pacific
- China
- Japan
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
For more information about this report visit https://www.researchandmarkets.com/r/oaf8vt-fruit?w=4
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230207005996/en/
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