DUBLIN, Feb. 8, 2023 /PRNewswire/ -- 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.
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.
Moreover, more than 50% of these European imports of frozen strawberries. Out of the total estimated 500 thousand tons of berries in the European market registered in 2018, The smaller shares are utilized by the retail and foodservice channels, and the largest quantities are used by the fruit processing industry.
The already expanding retail distribution channels, along with an increasing upswing in eCommerce due to COVID-19, which also reinforced the need for healthy consumption, are expected to augment the growth of the frozen fruit market.
For instance, in September 2020, it was reported that Food Forever Pty Ltd, a company that is known to cater to a variety of food service and retail consumers across both Australia and New Zealand - has launched Ra, which is essentially a new retail brand that offers frozen fruits in reusable and recyclable trays. The frozen chunks of raspberries, mango, and blueberries that were to be made commercially available are all certified as sustainably grown by the Rainforest Alliance.
Further, Los Angele's first vegan ice cream truck by Frozen Fruit Co. was reported to expand with retail options in September 2020. Another instance is the planned launch of frozen fruit bars reported in June 2020, which have been reportedly infused with adaptogens by a brand called Beyond Better Foods LLC, which is based out of New York.
In August 2020, it was reported that Minneapolis-based retailer Target was to make Good & Gather products commercially available, which are inclusive of but not limited to frozen fruit, among others.
In January 2020, it was reported that a local frozen fruit brand named Seal the Seasons received authorization for distributing its products among retailers who are based out of Arizona and California. According to the announcement, local frozen fruit will be available in more than 3000 conventional and natural retailers.
It has also been reported that it is the first company to freeze fruit which is regionally produced across retailers throughout the year. In April 2020, it was reported that multinational retail giant Tesco and Greenyard Frozen UK have entered into a strategic partnership to facilitate the supply of Tesco's full range of frozen fruits, among others, leading to an increase in volume and making the widest frozen fruit portfolio commercially available to customers.
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.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Frozen Fruit Market Analysis, By Product
5.1. Introduction
5.2. Berries
5.3. Citrus Fruits
5.4. Tropical Fruits
5.5. Others
6. Frozen Fruit Market Analysis, By Form
6.1. Introduction
6.2. Whole
6.3. Cubed
6.4. Sliced
6.5. Others
7. Frozen Fruit Market Analysis, By Source
7.1. Introduction
7.2. Organic
7.3. Inorganic
8. Frozen Fruit Market Analysis, By Application
8.1. Introduction
8.2. Organic Confectionery and Bakery
8.3. Jams & Preserves
8.4. Fruit Based Beverages
8.5. Dairy Products
9. Frozen Fruit Market Analysis, By Distribution Channel
9.1. Introduction
9.2. Online
9.3. Offline
10. Frozen Fruit Market Analysis, By Geography
10.1. Introduction
10.2. North America
10.2.1. USA
10.2.2. Canada
10.3. South America
10.3.1. Brazil
10.3.2. Argentina
10.3.3. Others
10.4. Europe
10.4.1. Germany
10.4.2. UK
10.4.3. France
10.4.4. Italy
10.4.5. Others
10.5. Middle East and Africa
10.5.1. Saudi Arabia
10.5.2. UAE
10.5.3. Others
10.6. Asia Pacific
10.6.1. China
10.6.2. Japan
10.6.3. India
10.6.4. South Korea
10.6.5. Taiwan
10.6.6. Thailand
10.6.7. Indonesia
10.6.8. Others
11. Competitive Environment and Analysis
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix
12. Company Profiles
12.1. Val-Mex Frozen Foods, LLC
12.2. Willamette Valley Fruit Company
12.3. Antillal
12.4. De Marchi and Industry Fruits Ltda
12.5. Dawtona Frozen
12.6. Greenyard
12.7. Euroberry Pty Ltd
12.8. Cold Alex
12.9. Entyce Food Ingredients Pty Ltd
12.10. Tomco Produce Group Co Limited
For more information about this report visit https://www.researchandmarkets.com/r/pvrms0-fruit?w=5
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