According to our latest market study on “Frozen Fruits Market to 2027 – COVID-19 Impact and Global Analysis – by Product Type (Citrus Fruit, Tropical Fruits, Berries, and Others); Application (Confectionery & Bakery, Jams & Preserves, Fruit-based Beverages, Dairy, and Others); Technique ( Freeze Drying and Individual Quick Freezing ), and Geography,” the market was valued at US$ 2,528.46 million in 2019 and is projected to reach US$ 3,769.45 million by 2027; it is expected to grow at a CAGR of 5.2% during the forecast period. The report highlights key factors driving the market growth and prominent players, along with their developments, in the market.
Report Coverage DetailsMarket Size Value in- US$ 2,528.46 Million in 2019
Market Size Value by- US$ 3,769.45 Million by 2027
Growth rate- CAGR of 5.2% from 2020-2027
Forecast Period- 2020-2027
Base Year- 2020
No. of Pages- 150
No. Tables- 82
No. of Charts & Figures- 82
Historical data available- YesSegments covered- Product Type ; Application ; Technique , and GeographyRegional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Fruits picked at their peak ripeness are quickly frozen and packaged at liquid nitrogen temperature. The process provides increased shelf life to the fresh fruits. Like fresh fruits, frozen fruits are enriched with various antioxidants, minerals, and vitamins. However, the easy availability of frozen fruits, especially the seasonal ones, compared to fresh fruits has been fueling their demand in the world.
Asia- Pacific held the largest share of the market in 2019, followed by Europe. Many countries in Asia- Pacific are likely to represent the largest share in the frozen fruits market and are anticipated to remain strong through the forecast period. Increasing use of frozen fruits in various food processing industries such as bakery, confectionery & other packaged food items like bread, cakes, and pastry will further support product demand. Also, increasing applications in fruit- based beverages is also anticipated to fuel market size over the forecast period.
Effect of COVID-19 on Frozen Fruits Market
COVID-19 outbreak first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace worldwide. As of November 2020, the US, Brazil, India, Russia, South Africa, Mexico, and the UK are a few of the worst-affected countries in terms confirmed cases and reported deaths. The COVID-19 outbreak has been affecting economies and industries in various countries due to imposition of lockdowns, travel bans, and business shutdowns. Food & beverages is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in regions such as North America, Europe, and Asia Pacific is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales.
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Based on technique, the frozen fruits market is segmented into freeze drying and individual quick freezing (IQF). The freeze drying segment accounted for a larger share in market in 2019, and individual quick freezing segment is expected to register the fastest CAGR during 2020–2027. Freeze-drying involves freezing the fruit and then putting it in vacuum. Low pressure allows ice crystals to grow exponentially, turning them straight from solid ice into water vapor. This method extracts water even more quickly than the conventional drying process. Effectively, the fruit's water content is decreased without hampering its composition. This method of preserving food is best suited to low-sugar, soft fruits such as raspberries and strawberries. Frozen-drying provides long shelf life to fruits, allowing them to last many years when preserved properly.
Based on geography, the global frozen fruits market is segmented into North America, Europe, AsiaPacific, South America, and the Middle East and Africa. In 2019, Europe held the largest share in the global frozen fruits market, followed by North America and Asia Pacific.
Frozen Fruits Market: Competitive Landscape and Key Developments
Key market players include Crop's Fruits NV, Dole Packaged Foods LLC., MireliteMirsa Co. Ltd., SunOpta Inc., Titan Frozen Fruits, Wawona Frozen Foods, Welch Foods, Inc., Greenyard, J.R. Simplot Company, and General Mills Inc. The companies have been adopting strategies such as mergers and acquisitions. The major players are striving to acquire larger customer base by expanding their presence globally.
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