Frozen Vegetables Market is expected to reach US$ 25,381.14 Mn by 2027

PRESS RELEASE BY The Insight Partners 24 Feb 2021

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Expansion of Quick Service Restaurants to Boost Demand for Frozen Vegetables during 2020–2027

According to our latest market study on “Frozen Vegetables Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Potato, Green Peas, Spinach, Mushrooms, Corn, Mixed Vegetables, Broccoli, Carrot, and Others) and End User (Foodservice and Food Retail),” the market was valued at US$ 18,182.86 million in 2019 and is projected to reach US$ 25,381.14 million by 2027; it is expected to grow at a CAGR of 4.3% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

The global frozen vegetables market is expected to register a significant growth rate during the forecast period owing to the surging demand for convenience food and growing number of fast food restaurants. Growth of fast food and quick service restaurants is on a rise as they cater to changing consumer preferences. Consumers desire convenience and quick service while dining in such restaurants. Frozen vegetables require less preparation time and are easy to use; therefore, they are witnessing increasing demand from the quick-service restaurants. In addition, the demand for convenience food— such as frozen products, including frozen vegetables—is increasing as consumers are leading a hectic and busy lifestyle. However, rising demand for fresh vegetables is hampering the market growth. There is an increase in the demand for frozen vegetables in emerging economies in Asia-Pacific, such as China and India, which is providing lucrative opportunities for this market.

Conagra Brands Inc.; Goya Foods, Inc.; B&G Foods, Inc.; Bhanu Farms; Cascadian Farm Organic; Foodnet Ltd; CROP’S UK; Bonduelle; Nature’s Garden; and Ardo are among the well-established players in the frozen vegetables market.

Impact of COVID-19 Pandemic on Frozen Vegetables Market

The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. As of February 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are 108,484,802 confirmed cases and 2,394,323 total deaths globally. The outbreak has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The food & beverage industry is one of the major industries suffering serious disruptions such as supply chain breaks and production facility shutdowns. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia-Pacific, South America, and the Middle East and Africa is restricting the global supply chain and hindering the manufacturing activities, delivery schedules, and various goods sales. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are restraining the growth of various markets related to the food and beverages industry.

Geographic Overview of Frozen Vegetables Market

Geographic Overview of Frozen Vegetables Market

Frozen Vegetables Market to 2027 |Industry Research Report

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Frozen Vegetables Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Potato, Green Peas, Spinach, Mushrooms, Corn, Mixed Vegetables, Broccoli, Carrot, and Others) and End User (Foodservice and Food Retail)

The report includes the segmentation of the global frozen vegetables market as follows:

Frozen Vegetables Market, byType

  • Potato
  • Green Peas
  • Spinach
  • Mushrooms
  • Corn
  • Mixed Vegetables
  • Broccoli
  • Carrot
  • Others

Frozen Vegetables Market, by End User

  • Foodservice
  • Food Retail

Frozen Vegetables Market, by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Middle East &Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East &Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America
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