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)
- Status : Published
- Report Code : TIPRE00020309
- Category : Food and Beverages
- No. of Pages : 62
- Available Report Formats :
- Last update date : March 16, 2021
2019 Market Size
US$ 1,407.33 Mn
Base year value
2027 Forecast
US$ 2,025.42 Mn
Projected by 2027
CAGR 2020-2027
4.7 %
Growth rate
Addressable Market
US$ 13,920.28 Mn
(2020-2027)
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)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
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
South America Frozen Vegetables Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1,407.33 Million |
| Market Size by 2027 | US$ 2,025.42 Million |
| CAGR (2019 - 2027) | 4.7% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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