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Growth of Frozen Fruits Market Trends, Share, Industry Size, Opportunities
“Global Frozen Fruits Market Analysis & Opportunity Outlook 2024”
Frozen Fruits Market Overview
Frozen fruits refer to fruits that have reduced their temperature and maintained to below their freezing point for the purpose of storage and transportation until they are ready to be eaten. Further, they may be commercially packaged or frozen at home. Apart from this, a wide range of frozen fruits are sold in supermarkets and hypermarkets.
Market Size and Forecast
The Global Frozen Fruits Market is anticipated to flourish at a CAGR of 5.3% during the forecast period 2017-2024. Further the market of frozen fruits was estimated at a value of USD 1.92 Billion in 2016 and the market is projected to reach USD 2.93 Billion by 2024. Factor such as, vital vitamins and potentially useful antioxidants are anticipated to drive the growth of the global frozen fruits market over the forecast period. In the regional market, North America is anticipated to account for a significant portion of market share in the overall market of frozen fruits during the forecast period. Factor such as, availability of various range of frozen fruits products is anticipated to fuel the growth of the frozen fruits market over the forecast period. Further, U.S. has the major share of 64.93% in the frozen fruits market for the period 2015 followed by Canada with 35.07%.
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Frozen fruits market
Further, Asia-Pacific frozen fruits market is expected to flourish at a significant rate over the forecast period. Factor such as, increasing online purchase of staple food is anticipated to drive the growth of the frozen fruits market over the forecast period. Europe frozen fruits market is expected to witness substantial growth over the forecast period. Further, shifting customer purchasing patterns and introduction of products with high nutritional value is anticipated to increase the growth frozen fruits market in Europe during the forecast period. Based on product type, frozen fruits market is segmented into, citrus fruits, red fruits & berries and tropical fruits, out of which, red fruits & berries is expected to dominate the overall frozen fruits market during the forecast period.
Global frozen fruits market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, Russia, Turkey, BENELUX, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
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Asia-Pacific (China, India, Japan, South Korea, Singapore, Australia, New Zealand, Malaysia & Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
Middle East and North Africa (GCC, Israel, North Africa, South Africa & Rest of Middle East) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Factor such as, increasing disposable income and innovation in freezing technology across the globe are anticipated to intensify the growth of the global frozen fruits market during the forecast period. In addition, acceleration of urban population in developing countries is estimated to positively drive the growth of the frozen fruits market over the forecast period. Apart from this, development in cold chain logistics is anticipated to be the dynamic factor behind the growth of the frozen fruits market. Further, increase in the number of working population, precisely the women has resulted in increase in consumption of frozen fruits is expected to supplement the growth of the global frozen fruits market over the forecast period. However, risk of contamination in frozen fruits and preference to fresh fruits over frozen fruits are some of the key factors which are expected to limit the growth of global frozen fruits market over the forecast period.
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