Market Size of Frozen Vegetables Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 18.21 Billion |
| Market Size (2029) | USD 22.01 Billion |
| CAGR (2024 - 2029) | 3.86 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Frozen Vegetables Market Analysis
The Frozen Vegetables Market size is estimated at USD 18.21 billion in 2024, and is expected to reach USD 22.01 billion by 2029, growing at a CAGR of 3.86% during the forecast period (2024-2029).
- The rapid pace of urbanization, especially in the developing economies, coupled with growing disposable income and rising influence, has allowed convenience products to take center stage with regard to different fruits and vegetables. Altering technological advancements, along with aesthetic packaging, ease of storage, and all-around availability, are boosting the demand for frozen vegetables. The presence of well-balanced cold chain solutions and connected retail outlets have led to dramatic sales of the market, where most of the product portfolios are largely catered by local mid-and small-sized farms.
- Furthermore, this segment is gaining popularity as a preferred alternative to fresh, canned, and cooked food and healthy snack options among the millennial populations in the market.
- Due to the COVID-19, the frozen vegetable market has been performing well following the onset of the novel coronavirus. The fact that frozen vegetable is able to retain the nutritional value for a long period, and in turn, this helps bring down the number of times consumers have to visit the shop or outlet, which also works in favor of the market. Although the COVID-19 impact on the cold chain supply has been significant, the evolving buying patterns of the consumers with more inclination towards health have helped the frozen vegetable market develop faster than expected.
