Canada Frozen Fruits and Vegetables Market Opportunity Ahead of Earnings
Frozen Fruits and Vegetables Market Insights:
The changing lifestyle and work culture have infused the
need for convenience food which is likely to drive the market growth for frozen
fruits and vegetables. Market Research Future (MRFR) has asserted in its latest
report that the global frozen fruits and vegetables market will expand at a
healthy pace throughout the forecast period.
Frozen Fruits and Vegetables Market is expected to
register 7.60% CAGR from 2022 to 2030 and reach USD 9.12 billion by the end of
2030.
Canada
Frozen Fruits and Vegetables Market showcases robust growth fueled by
the country's diverse food processing industry and consumer demand for
convenient and nutritious food options. Frozen produce holds a significant
presence in Canada, offering consumers access to a wide variety of fruits and
vegetables regardless of seasonal availability. With Canadians increasingly
prioritizing health and wellness, frozen fruits and vegetables serve as a
convenient solution for maintaining a balanced diet. Moreover, advancements in
freezing technologies ensure the retention of nutrients and flavors, further
driving the market's expansion in Canada.
The increasing product offering of frozen fruits and
vegetables coupled with easy availability in stores will complement the
expansion of the market over the next couple of years. Furthermore, the
introduction of Ready to Eat (RTE) products cut down the task of peeling and
slicing which is likely to aid global frozen fruits and vegetables market
proliferation. The catalyzed demand for RTE food is poised to accelerate the
sales of frozen spinach and legumes. The frozen fruits and vegetables industry
leaders facilitate the supply of seasonal products throughout the year which
has accelerated revenue generation from the market and is likely to continue
the trend over the assessment period. The growing demand for confectionery,
bakery and dairy products will propel the revenue creation from frozen fruits
segment of the market due to increased sales of kiwi and apricots.
The technological innovations adopted by the industry
leaders for preserving the nutritional content and taste of fruits and
vegetables while enhancing shelf life will further propel the market growth
globally. However, some loss of nutrition during freezing is inevitable which
is likely to hold the market growth during the review period. Other factors
responsible for hampering the growth of frozen fruits and vegetables market
include preferences for fresh fruits and vegetables, impacts on the environment,
etc.
Competitive Dashboard:
The Key Frozen Fruits and Vegetables Market Players profiled
by MRFR in its report include Dole (U.S.), HJ Heinz (US), Simplot Australia PTY
Ltd (Australia), Ardo NV (Belgium), General Mills (U.S.), Pinnacle Foods Corp.
(US), Findus Sverige AB, (Sweden), and Bonduelle Group (France) among others.
The strategies employed by the key players for gaining prominence in the market
include the increased supply of products, competitive pricing, packaging
innovations, acquisitions and mergers, product developments, etc.
Market segmentation:
The global Frozen Fruits
and Vegetables Market has a growing number of scopes for growing as it
has many more market segments such as frozen fruits and vegetable types,
categories, forms, distribution channels, and regions.
By type, the global frozen fruits and vegetables market is
segmented into fruits and vegetables.
By form, the frozen fruits and vegetables market has been
segmented into whole, pureed, dried, and others.
By application, the global frozen fruits and vegetables
market is segmented into fruits and vegetables. The fruits segment is
sub-segmented into fruit juices & smoothies, breakfast cereals, salads
& desserts, bakery foods, yogurts, and others. The vegetables segment has
further been sub-segmented into pizza toppings, salads, Ready to Eat Food
(RTE), noodles & pastas, soups, and others.
By packaging, the frozen fruits and vegetables market has
been segmented into <10 kgs, >10-15 kgs,15-30 kgs, and >30 kgs.
Industry Developments:
In July 2018, Patanjali, an Indian consumer goods company,
has announced its plan to foray into frozen vegetables market. The company has
successfully launched a couple of products and is planning to add 6-7 more
vegetables to its frozen vegetable’s product line.
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