LONDON--(BUSINESS WIRE)--A new market research study by Technavio on the global frozen vegetable market projects the market to grow at a CAGR of close to 5% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers, and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
Growing restaurant and food service industry
Fast food restaurants, school and hospital cafeterias, catering operations, and many other food service formats, which commonly use frozen vegetables, are becoming popular. The reason for the preference for frozen vegetables over fresh vegetables is that they can be preserved or stored in the refrigerator for a longer period. Moreover, they can also be used in the required quantity, which reduces the wastage of vegetables. Over recent years, the restaurant and food service industry has registered strong growth, which will lead to market growth over the forecast period.
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Technological developments
In recent years, several technological innovations have been taking place in the global frozen vegetables market. Dehydrofreezing is one such technological innovation for preserving vegetables, which uses both drying and freezing together. In this process, the vegetables first undergo dehydration to ensure a favorable moisture content, followed by freezing at a particular temperature. Individually quick-frozen (IQF) is another method that is used for freezing vegetables quickly, where each vegetable is frozen. This method of freezing individual vegetables is used to achieve a high-quality, natural-looking product. Some of the other innovative methods used for freezing vegetables are blast freezing, plate freezing, belt-tunnel freezing, fluidized-bed freezing, and cryogenic freezing. These technological innovations have enabled manufacturers to extend the life of the product by 10-12 months from the date of processing. Therefore, advances in freezing technology will have a positive impact on the growth of the frozen vegetables industry during the forecast period.
According to a senior analyst at Technavio, “Technological advancements have led to the availability of frozen vegetables during the off-season. Increased off-season production of vegetables domestically, as well as imports of frozen vegetables, offer consumers increased availability and more varieties of vegetables. Thus, the availability of frozen vegetables during the off-season is driving the growth of the global frozen vegetables market.”
The negative perception among consumers about frozen vegetables
Many people have a negative perception of frozen vegetables; they consider frozen vegetables to be lacking the necessary vitamins and nutrition as they are preserved for a long time. To overcome these challenges and to make end-consumers aware of the nutritional benefits of frozen vegetables, frozen vegetables processing companies are specifying the dietary details on the product packaging label. Consumers are also of the view that frozen food is of lower quality than fresh food. However, this perception is changing due to the advances in freezing technology. Hence, with greater awareness and better product promotion, the global frozen vegetables market is expected to overcome the issue of negative consumer perception and witness market growth.
Top players in the global frozen vegetables market:
- B&G Foods, Inc.
- Conagra Brands, Inc.
- General Mills, Inc.
- Greenyard NV
- The Kraft Heinz Co.
Some of the key topics covered in the global frozen vegetables market include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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