South America Frozen Vegetables Market Overview and Growth by 2027
South America 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 : TIPRE00020309
- Category : Food and Beverages
- Status : Published
- Available Report Formats :
- No. of Pages : 62
The frozen vegetables market in South America was valued at US$ 1,407.33 million in 2019 and is projected to reach US$ 2,025.42 million by 2027; it is expected to grow at a CAGR of 4.7% from 2019 to 2027.
The South America frozen vegetables market, by country, has been sub-segmented into Brazil, Argentina, and Rest of South America. The rising demand for convenience food is boosting the growth of the market. Owing to the changing consumer lifestyle, the demand for convenience food is also on a rise. The demand for convenience food is increasing as the consumers are leading a hectic and busy lifestyle. There has been significant growth in the woman employment rate. As the women's employment is increasing, it becomes difficult for them to manage the household work as well as the office work. It becomes difficult for them to cook meals because of the lack of time. According to the data cited by the International Labour Organization, woman women account for nearly 40% of the employed population in China. Owing to which, the demand for convenience food like frozen products, which includes frozen vegetables has increased in the recent years. Along with the growth in woman employment, there has been a significant rise in the number of single-person households, which also is contributing to the demand for convenience food, including frozen vegetables. Rising number of nuclear families, along with increasing number of young professionals who live alone are boosting the demand for food products that can be easily cooked and prepared such as frozen vegetables. Frozen vegetables cater to such needs of the consumers and also provide them with nutrition. Hence, all these factors contribute to the growth of the frozen vegetables market
Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the dropping commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several countries of South America will reduce economic activity in the manufacturing sectors for at least the next quarter, with a rebound once the epidemic is contained.
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 South America frozen vegetables market. The South America frozen vegetables market is expected to grow at a good CAGR during the forecast period.
South America Frozen Vegetables Market Revenue and Forecast to 2027 (US$ Million)
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South America Frozen Vegetables Market Segmentation
South America Frozen Vegetables Market, by Type
- Potato
- Green Peas
- Spinach
- Mushrooms
- Corn
- Mixed Vegetables
- Broccoli
- Carrot
- Others
South America Frozen Vegetables Market, by End User
- Foodservice
- Food Retail
South America Frozen Vegetables Market, by Country
- Brazil
- Argentina
- Rest of South America
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
US, Canada, Brazil, Argentina
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. South America Frozen Vegetables Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 SAM
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 South America
5.4 Future Trends
5.4.1 Use of Innovative Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Frozen Vegetables – South America 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 South America 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 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 South America: Frozen Vegetables Market, by Key Country
9.1.1.1 Brazil: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 Brazil: Frozen Vegetables Market, by Type
9.1.1.1.2 Brazil: Frozen Vegetables Market, by End User
9.1.1.2 Argentina: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Argentina: Frozen Vegetables Market, by Type
9.1.1.2.2 Argentina: Frozen Vegetables Market, by End User
9.1.1.3 Rest of South America: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Rest of South America: Frozen Vegetables Market, by Type
9.1.1.3.2 Rest of South America: Frozen Vegetables Market, by End User
10. Overview- Impact of Coronavirus Outbreak on South America
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. Brazil Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. Brazil Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 4. Argentina Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 5. Argentina Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 6. Rest of South America Frozen Vegetables Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Rest of South America Frozen Vegetables Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. South America Frozen Vegetables Market Segmentation
Figure 2. Frozen Vegetables Market Segmentation – By Country
Figure 3. South America Frozen Vegetables Market Overview
Figure 4. Mixed Vegetables Segment Held Largest Share Of South America Frozen Vegetables Market
Figure 5. Brazil Held Largest Share Of South America Frozen Vegetables Market
Figure 6. South America Frozen Vegetables Market, Industry Landscape
Figure 7. SAM: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Frozen Vegetables Market Impact Analysis of Driver and Restraints
Figure 10. South America : Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Million)
Figure 11. South America Frozen Vegetables Market Revenue Share, By Type (2019 and 2027)
Figure 12. South America Potato: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 13. South America Green Peas: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 14. South America Spinach: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 15. South America Mushrooms: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 16. South America Corn: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 17. South America Mixed Vegetables: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 18. South America Broccoli: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 19. South America Carrots: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 20. South America Others: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 21. South America Frozen Vegetables Market Revenue Share, By End user (2019 and 2027)
Figure 22. South America Foodservice: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 23. South America Food Retail: Frozen Vegetables Market – Revenue And Forecast To 2027 (US$ Mn)
Figure 24. South America: Frozen Vegetables Market Revenue Share, by Key Country (2019 and 2027)
Figure 25. Brazil: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
Figure 26. Argentina: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
Figure 27. Rest of South America: Frozen Vegetables Market –Revenue and Forecast to 2027 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in South America 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
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- 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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