Processed & Frozen Fruits Market (2022 - 2028)

Processed & Frozen Fruits Market Summary

Moreover, the rising health concerns and increasing awareness about the benefits of processed fruits among consumers in emerging economies are major driving factors of the market growth.

The increasing consumption of packaged fruits due to the presence of more health-promoting antioxidants than fresh fruits has supplemented the market growth in the forecast period. The rising population coupled with growing urbanization across the globe and increasing disposable income are boosting the growth of the global market. Furthermore, the market is driven by the trend of convenience food in the developed region.

The increase in trading and demand for processed & frozen fruits with production around the globe are accelerating the growth of the market. In addition to this, continuously changing lifestyles and demographics, such as the increasing number of working women and single or elderly households, have led to significant growth of the market. However, stringent government regulations regarding export and import and the high cost associated with processed & frozen fruits are hindering the market growth.

The lockdown announced during the COVID-19 pandemic had disturbed transportation and suspended the supply of fruit products for a short duration as well as significant impacts on the export and import of the processed & frozen fruits market across the globe. The increasing demand for packaged fruits after the pandemic will create opportunities for the market players. Thus, the market is expected to witness a healthy market growth rate in the upcoming years.

Product Insights

The canned segment is contributed to the largest market share of more than 30% in the market revenue in 2021 and is expected to grow with a CAGR of 4.3% from 2022 to 2028. The increasing popularity of the fresh-cut canned product has propelled the market growth in the forecast period. Moreover, the growing health concerns among the consumers have increased the demand for low calories food to avoid any health complications accelerating the growth of the market.

The frozen segment is expected to grow with the fastest growth rate of 4.9% during the forecast period, from 2022 to 2028. Frozen fruits as convenient nutritious food made available for consumers through retail channels is driving the growth of the market. Moreover, the growing popularity and demand for frozen food coupled with the increasing disposable income of the consumers are the significant factors of the market growth. Additionally, the rising demand for processed and packaged food products worldwide is expected to fuel the market growth during the forecast period.

Distribution Channel Insights

The offline channel contributed a share of 80.02% in the market in 2021. Consumers are preferring offline channels for purchasing consumer goods, groceries, food products as well as processed fruit, where they can physically verify product quality. In addition to this, easy access and searching for various fruits products through stores is likely to drive the segment growth over the last few years. Offline channels are expected to remain dominant in the forecast period due to improved distribution channel networks across the globe.

The online segment of the market is anticipated to register the fastest growth with a CAGR of 4.6% from 2022 to 2028. The rising adoption of the e-commerce sector for the shopping of consumer goods and food products by consumers due to the internet penetration has witnessed lucrative growth in recent years. Several suppliers of these products are offering products on their websites as well as on the e-commerce platforms. This is expected to propel the market growth in the forecast period.

Regional Insights

North America made the largest contribution to the global market share with over 30% in 2021. The increasing awareness about the health benefits of consuming processed fruit in this region is propelling the growth of the market. In addition to this, rapid change in the lifestyle of consumers who are more concerned about health and wellness are boosting the industry's growth over the upcoming years. The rising consumption of packaged food products in the U.S., and Canada due to the presence of high nutrition, and low calories in fruits products have boosted the market growth.

Asia Pacific is the fastest-growing market and is expected to witness a CAGR of 5.4% from 2022 to 2028. China, India, and Japan have a huge consumer base for the consumption of processed & frozen fruits, which will drive the regional demand. Moreover, the region is expected to grow with the most accelerated growth rate over the forecast period owing to the growing disposable income and rising population. Consumers are concerned about health is boosting the industry growth over the upcoming years.

Key Companies & Market Share Insights

The marker consists of various established players such as Conagra Brands Inc., Dole Food Company, Del Monte Foods Inc., SunOpta, and local manufacturers. Various manufacturers and suppliers have expected to focus on the logistic development and strengthening of the distribution channel to grow their business. Such initiatives are expected to boost the adoption rate of the product among consumers around the globe. The market is further driven by increasing strategic alliances between key players, including mergers, acquisitions, joint ventures, and innovative product launches. Some of the key players operating in the global processed & frozen fruits market include: -

• Conagra Brands Inc.

• Dole Food Company

• Del Monte Foods Inc.

• SunOpta

• Rhodes Food Group

• AGRANA Beteiligungs AG

• Seneca Foods

• Gulong Food

• Kangfa Foods

• CHB Group

Processed & Frozen Fruits Market