Innovation in Freezing Technology to Augment Global Frozen Fruits Market with valuation of USD 2.93 Billion by 2024
Sep 6, 2018
The global frozen fruits market is anticipated to flourish at a CAGR of 5.3% during the forecast period 2017-2024. Further the market of frozen fruits was estimated at a value of USD 1.92 Billion in 2016 and the market is projected to reach USD 2.93 Billion by 2024.
New York, United States - September 6, 2018 /MarketersMedia/ —
“Global Frozen Fruits Market Analysis & Opportunity Outlook 2024”
The global frozen fruits market is segmented by product type into citrus fruits, red fruits & berries and tropical fruits. Among these segments, red fruits & berries segment is estimated to dominate the overall frozen fruits market during the forecast period. Further, global frozen fruits market is riding on the back of numerous applications such as confectionary & bakery, jams & preserves, fruit-based beverages and dairy among others. The demand for frozen fruits in these industries is estimated to propel the growth of global frozen fruits market by noteworthy revenue by the end of 2024.
The Global Frozen Fruits Market is anticipated to reach market valuation of USD 2.93 Billion by 2024 as compared to USD 1.92 Billion in 2016 by expanding at a compound annual growth rate of 5.3% over the period 2017-2024. Factors such as increased demand for frozen fruits in supermarkets and hypermarkets combined with health factors such as vital vitamins and potentially useful antioxidants are estimated to drive the growth of the global frozen fruits market over the forecast period.
In the regional segment, U.S acquired market share of 64.93% as compared to market share of 35.07% by Canada in the year 2015 and is further expected to drive North America to garner significant market share in terms of revenue in overall global frozen fruits market owing to availability of various range of frozen fruits products in the region. Additionally, increasing online purchase of staple food is expected to drive the growth of the global frozen fruits market in Asia Pacific region with significant rate over the forecast period.
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Development in Cold Chain Logistics Reflect Significant Opportunities
The growth of the market is driven by increasing disposable income, innovation in freezing technology combined with development in cold chain logistics. These factors are expected to benefit the expansion of global frozen fruits market in upcoming years. However, preference to fresh fruits and risk of contamination in frozen fruits is likely to inhibit the growth of the frozen fruits market in the near future.
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The report titled “Global Frozen Fruits Market Analysis & Opportunity Outlook 2024” delivers detailed overview of the global frozen fruits market in terms of market segmentation by product type, application, by technique and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global frozen fruits market which includes company profiling of White Wave, Hain Celestial Group, Foodnet, Welch’s Foods, Newberry International Produce Ltd., Titan Frozen Fruit, MDC Foods Ltd., General Mills and Findus Sverige AB. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global frozen fruits market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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