Global Frozen Fruits Market was worth $2.37 billion in 2016 and estimated to be growing at a CAGR of 5.72%, to reach $3.13 billion by 2021.
The Global Frozen Fruits Market was worth $2.37 billion in 2016 and estimated to be growing at a CAGR of 5.72%, to reach $3.13 billion by 2021.
Frozen Fruits are prepared from a process in which the eatables are primarily blanched, boiled, and then frozen extensively. Frozen fruits are preserved at a temperature generally below -9.5°C, at which all moisture is in the solid condition.
This prevents the advance of microorganisms, brakes down decomposition and in turn aids in keeping fruits fresh for an extended period of time.
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Frozen Fruits and vegetables are largely used in Super Markets, Grocery,. They consist of high levels of crucial vitamins and potentially beneficial antioxidants as compared to the fresh ones, and also help in defending against the heart ailments.
The growth of the global Frozen Fruits market is majorly driven by factors such as growing health consciousness among consumers, the introduction of products with high nutritional value, and shifting lifestyles which leave little to no time to cook meals. Also, the growing population of working women has instigated the need for ready to eat convenience food, thereby substituting the Orthodox home cooked food.
However, the heavy presence of sodium and artificial preservatives in frozen foods, loss of natural aromas and nutrition due to extensive freezing are some of the factors hindering the growth of the market.
The Global Frozen Fruits market is segmented based on Application, Product type, and Technique. The market for Frozen Fruits, on the basis of Application, is classified into Confectionery & Bakery, Jams & preserves, Fruit-based Beverages, Dairy, and Others.
The Confectionery & Bakery segment leads the global Frozen Fruits market under the application segment. However, the Jams & preserves segment is anticipated to grow at the highest CAGR due to growing demand from emerging economies.
On the basis of Product type, the global Frozen Fruits market is segmented into citrus fruits, red fruits & berries, and tropical fruits. Red fruits & berries segment lead the global market with over 60% of the market share in terms of revenue.
On the basis of Technique, the global Frozen Fruits market is segmented into freeze drying and IQF. The IQF segment is projected to increase at the highest CAGR during the forecast period, as it avoids lumping of frozen fruits, predominantly pulpy fruits such as sliced mangoes.
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The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Europe is the largest market for Frozen Fruits followed by North America, due to the high intake of frozen food items in these regions.
The evolving markets of Asia-Pacific most significantly India and China, account for the high growth rate due to rising disposable incomes, and the acceptance of western food styles among the middle class.
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This industry is extremely influenced by the macroeconomic state of an economy, as the intake of frozen fruit products drops sharply due to economic slumps. The major companies dominating the global Frozen Fruits market are Pinnacle Foods Inc., Welch Foods, Ardo NV, SunOpta Inc., Kendall Frozen Fruits Inc., Uran Food Group Limited, Kerry Group Plc., Nestle, ConAgro Foods Inc. and General Mills.
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