Asia Pacific Frozen Vegetables Market Size and Competitive Analysis by 2027
Asia Pacific Frozen Vegetables Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Potato, Green Peas, Spinach, Mushrooms, Corn, Mixed Vegetables, Broccoli, Carrot, and Others) and End User (Foodservice and Food Retail)
- Report Date : Mar 2021
- Report Code : TIPRE00020316
- Category : Food and Beverages
- Status : Published
- Available Report Formats :
- No. of Pages : 71
The frozen vegetables market in Asia-Pacific was valued at US$ 4,480.30 million in 2019 and is projected to reach US$ 6,596.56 million by 2027; it is expected to grow at a CAGR of 5.0% from 2019 to 2027.
The Asia-Pacific frozen vegetables market, by country, has been sub-segmented into China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific. The expansion of quick service restaurants is boosting the growth of the market. The fast-food and quick-service restaurants have now become the need of the hour for the consumers. These restaurants basically provide mass-produced foods that have been attracting an increasing number of people to these restaurants. These restaurants are becoming more and more popular due to the convenience they provide, good taste of the food, and also they are economical in terms of money and time. 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. Quick service restaurants cater to the need of the consumers as they offer to sit and dine along with numerous services such as drive-thru, takeout, home delivery, etc. which suits the modern lifestyle of the consumers. Due to the growth and expansion of these quick-service restaurants or QSR’s, the demand for frozen vegetables has also increased. Frozen vegetables are witnessing increasing from the QSR’s as they require less preparation time and are easy to use. This helps the QSRs to provide the consumers with their food quickly, which is basically the main strength of a quick-service restaurant. As the COVID 19 pandemic continues to grow, it has hampered the frozen vegetables market in Asia-Pacific. The Asia-Pacific region is hugely affected by a coronavirus, owing to a massive number of cases in China, the country is the most crucial manufacturer and industrial producer since it trades more manufacturing goods than any other country in the globe; it is also a world leader in several types of goods.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia-Pacific frozen vegetables market. The Asia-Pacific frozen vegetables market is expected to grow at a good CAGR during the forecast period.
Asia-Pacific Frozen Vegetables Market Revenue and Forecast to 2027 (US$ Million)
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Asia-Pacific Frozen Vegetables Market Segmentation
Asia-Pacific Frozen Vegetables Market, by Type
- Potato
- Green Peas
- Spinach
- Mushrooms
- Corn
- Mixed Vegetables
- Broccoli
- Carrot
- Others
Asia-Pacific Frozen Vegetables Market, by End User
- Foodservice
- Food Retail
Asia-Pacific Frozen Vegetables Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. Asia-Pacific Frozen Vegetables Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 APAC
4.3 Expert Opinion
5. Frozen Vegetables Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Expansion of Quick Service Restaurants
5.1.2 Rising Demand for Convenience Food
5.2 Market Restraint
5.2.1 Rising Preference for Fresh and Natural Products
5.3 Market Opportunities
5.3.1 Increasing Demand from Asia-Pacific
5.4 Future Trends
5.4.1 Use of Innovative Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Frozen Vegetables – Asia-Pacific Market Analysis
6.1 Frozen Vegetables Market Overview
6.2 Frozen Vegetables Market –Revenue And Forecast To 2027 (US$ Million)
6.3 Competitive Positioning – Key Market Players
7. Frozen Vegetables Market Analysis – By Type
7.1 Overview
7.2 Asia-Pacific Frozen Vegetables Market, By Type (2019 and 2027)
7.3 Potato
7.3.1 Overview
7.3.2 Potato: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
7.4 Green Peas
7.4.1 Overview
7.4.2 Green Peas: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
7.5 Spinach
7.5.1 Overview
7.5.2 Spinach: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
7.6 Mushrooms
7.6.1 Overview
7.6.2 Mushrooms: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
7.7 Corn
7.7.1 Overview
7.7.2 Corn: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
7.8 Mixed Vegetables
7.8.1 Overview
7.8.2 Mixed Vegetables: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
7.9 Broccoli
7.9.1 Overview
7.9.2 Broccoli: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
7.10 Carrots
7.10.1 Overview
7.10.2 Carrots: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
7.11 Others
7.11.1 Overview
7.11.2 Others: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
8. Frozen Vegetables Market Analysis – By End User
8.1 Overview
8.2 Asia-Pacific Frozen Vegetables Market, By End User (2019 and 2027)
8.3 Foodservice
8.3.1 Overview
8.3.2 Foodservice: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
8.4 Food Retail
8.4.1 Overview
8.4.2 Food Retail: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Mn)
9. Frozen Vegetables Market – Country Analysis
9.1 Overview
9.1.1 APAC: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Million)
9.1.2 APAC: Frozen Vegetables Market, by Type
9.1.3 APAC: Frozen Vegetables Market, by End User
9.1.4 APAC: Frozen Vegetables Market, by Key Country
9.1.4.1 Australia: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.1.1 Australia: Frozen Vegetables Market, by Type
9.1.4.1.2 Australia: Frozen Vegetables Market, by End User
9.1.4.2 China: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.2.1 China: Frozen Vegetables Market, by Type
9.1.4.2.2 China: Frozen Vegetables Market, by End User
9.1.4.3 India: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.3.1 India: Frozen Vegetables Market, by Type
9.1.4.3.2 India: Frozen Vegetables Market, by End User
9.1.4.4 Japan: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.4.1 Japan: Frozen Vegetables Market, by Type
9.1.4.4.2 Japan: Frozen Vegetables Market, by End User
9.1.4.5 South Korea: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.5.1 South Korea: Frozen Vegetables Market, by Type
9.1.4.5.2 South Korea: Frozen Vegetables Market, by End User
9.1.4.6 Rest of APAC: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
9.1.4.6.1 Rest of APAC: Frozen Vegetables Market, by Type
9.1.4.6.2 Rest of APAC: Frozen Vegetables Market, by End User
10. Impact of Coronavirus Outbreak in Asia- Pacific
10.1 Overview
11. Key Company Profiles
11.1 Conagra Brands Inc.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Goya Foods Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 FOODNET LTD
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.4 BONDUELLE
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Ardo
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Frozen vegetables Market –Revenue And Forecast To 2027 (US$ Million)
Table 2. APAC Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. APAC: Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 4. Australia Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 5. Australia Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 6. China Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. China Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 8. India Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. India Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 10. Japan Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 11. Japan Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 12. South Korea Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. South Korea Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 14. Rest of Asia-Pacific Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 15. Rest of Asia-Pacific Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 16. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia-Pacific rozen Vegetables Market Segmentation
Figure 2. Asia-Pacific Frozen Vegetables Market Segmentation – By Country
Figure 3. Asia-Pacific Frozen Vegetables Market Overview
Figure 4. Mixed Vegetables Segment Held Largest Share Of Asia-Pacific Frozen Vegetables Market
Figure 5. China Held Largest Share Of Asia-Pacific Frozen Vegetables Market
Figure 6. Asia-Pacific Frozen Vegetables Market, Industry Landscape
Figure 7. APAC: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Asia-Pacific Frozen Vegetables Market Impact Analysis of Driver and Restraints
Figure 10. Asia-Pacific : Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Million)
Figure 11. Asia-Pacific Frozen Vegetables Market Revenue Share, By Type (2019 and 2027)
Figure 12. Asia-Pacific Potato: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 13. Asia-Pacific Green Peas: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 14. Asia-Pacific Spinach: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 15. Asia-Pacific Mushrooms: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 16. Asia-Pacific Corn: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 17. Asia-Pacific Mixed Vegetables: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 18. Asia-Pacific Broccoli: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 19. Asia-Pacific Carrots: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 20. Asia-Pacific Others: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 21. Asia-Pacific Frozen Vegetables Market Revenue Share, By End user (2019 and 2027)
Figure 22. Asia-Pacific Foodservice: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 23. Asia-Pacific Food Retail: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 24. APAC: Frozen Vegetables Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. APAC: Frozen Vegetables Market Revenue Share, by Type (2019 and 2027)
Figure 26. APAC: Frozen Vegetables Market Revenue Share, by End User (2019 and 2027)
Figure 27. APAC: Frozen Vegetables Market Revenue Share, by Key Country (2019 and 2027)
Figure 28. Australia: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
Figure 29. China: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
Figure 30. India: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
Figure 31. Japan: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
Figure 32. South Korea: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
Figure 33. Rest of APAC: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
Figure 34. Impact of COVID-19 Pandemic in Asia-Pacific Country Markets
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The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
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- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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