The global frozen vegetable market is poised for significant growth, with Future Market Insights (FMI) forecasting a robust Compound Annual Growth Rate (CAGR) of 6.0% through 2034. According to FMI’s latest report, the sales revenue of frozen vegetables is estimated to reach US$ 53,830.60 million in 2024, surging to a staggering valuation of US$ 96,451.80 million by 2034.
The burgeoning demand for frozen vegetables is attributed to several key factors reshaping consumer preferences and market dynamics. Younger populations are increasingly favoring frozen vegetables as a healthier snack option, driving growth over traditional alternatives like fresh, canned, and cooked meals.
“The spotlight on convenience products is intensifying due to rapid urbanization and rising disposable incomes,” stated by Nandini Roy Choudhury, Client Partner at Future Market Insights ,“Technological advancements, attractive packaging, storage convenience, and accessibility are fueling the demand for frozen vegetables worldwide.”
Frozen vegetables offer an extended shelf-life compared to fresh produce, making them easier to transport across various regions. With an increasing working population in both developed and developing countries, the demand for ready-to-cook or ready-made food products is expected to surge, further driving growth in the frozen vegetable market.
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Key Takeaways: Frozen Vegetables Market
- Europe is expected to dominate the global market by accounting for the maximum share of about 30% in 2024, followed by North America.
- The U.S. is set to generate the largest frozen vegetables market share of nearly 82% in the evaluation period.
- By product type, frozen corn is expected to account for the lion’s share in the global frozen vegetables market by 2022.
- Based on distribution channel, online retailers are expected to grow at a steady pace, as compared to all the other segments over the assessment period (2024-2034).
- Rising number of convenience food sales outlets across the U.K. is anticipated to propel the Europe frozen vegetables market in the forthcoming years.
Competitive Landscape: Frozen Vegetables Market
Several key players are adopting numerous marketing and promotional strategies such as partnerships, collaborations, mergers & acquisitions, new product launches, and geographical expansions to compete with their rivals in the market.
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More Valuable Insights on Frozen Vegetables Market
Future Market Insights, in its new report, offers an impartial analysis of the global frozen vegetables market, presenting historical data (2019-2023) and estimation statistics for the forecast period of 2024-2034.
The study offers compelling insights based on product type (broccoli, green peas, asparagus, mushrooms, spinach, corn, green beans, and others), end user (food service industry and retail customers), and distribution channel (direct and indirect) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa) of the world.
Frozen Vegetables Market Outlook by Category
By Product Type:
- Broccoli
- Green Peas
- Asparagus
- Mushrooms
- Spinach
- Corn
- Green Beans
- Others
By End Use:
- Food Service Industry
- Retail Customers
By Distribution Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Grocery Stores
- Online Retailers
- Other Channels
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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