A new report by Global Industry Analysts says that a growing number of working women, and development of innovative freezing technologies, are also driving the demand for frozen fruits and vegetables.
The global frozen foods market continues to expand even in the wake of adverse economic conditions, driven by consumer desire for convenient and faster-to-prepare foods. Furthermore, the advent of innovative products and packaging, and growing health consciousness of consumers, are also contributing to increased consumption of a wide variety of frozen foods.
The market has managed to overcome the recession owing to the increased demand for healthy and convenient products. The advent of new freezing technologies is allowing manufacturers to preserve nutritional content in fruits and vegetables for longer times.
The US and Europe collectively account for a major share of the global market, as stated by the new market research report. Asia-Pacific and Latin America are the fastest growing regional markets for frozen fruits and vegetables, with CAGR ranging between 4% and 5.5% for the period 2007-2015.
Changing consumer preferences and requirements significantly influence trends in the frozen vegetables and fruits market, driving the launch of several new, value-added products such as frozen entrees, vegetable mixes, prepared meals, pasta, and vegetables in sauce.
Demographic factors also influence market developments, as evident by the launch of single-serve frozen vegetables packaging, which is aimed specifically at addressing the needs of a growing category of single (young or elderly) customers.
The frozen vegetables market in the US continues to grow, despite the adverse economic conditions. The introduction of novel preparation methods and packaging options has contributed to the sustained demand for frozen vegetables in recent years. Modern steam technology and new vegetable combinations have managed to attract investors’ as well as consumers’ attention, largely driven by the superior freshness of frozen products as against canned products.
The trend towards home cooking is also benefiting the category, as customers exhibit preference for healthy and fast-to-prepare meals. The growing health-consciousness among consumers is fuelling the demand for convenient vegetable-based products, including meals and side dishes that are also affordable and healthy.
Frozen fruits accounts for a relatively smaller share of the overall market for frozen fruits and vegetables. Growth in the frozen fruit market is propelled by the fast-paced modern lifestyle that has led consumers to look for easy and hygienic fruit products that eliminate the conventional hassles of cleaning and chopping fresh fruits thereby by evading the all-important time constraints of traditional cooking.
Source: Global Industry Analysts
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