Market Analysis: —
Due to the increasing demand of frozen fruits and vegetables products, the market is growing at an incremental pace of development in Asia Pacific region. India is one other country with diverse agro climatic zones leading to produce different kinds of fruits and vegetables. India is the largest producer of fruits in the world, the production per capita is about 100 gm. per capita, however it is estimated that more than 20-22% total production of fruits are lost due to spoilage at various post-harvest stages thus leading to availability of fruits are 80 gm. per capita. The domestic market for frozen fruits and vegetables is limited though steadily expanding. Frozen fruits and vegetables rank among the major products exported to key markets such as the US, Russia, the UK, Germany and the Middle East. India currently ranks as the world’s second largest producer of a wide spectrum of tropical and temperate fruits and vegetables and India can be the emerging market in APAC frozen fruits and vegetables market.
Rapid growth will be noticed in the peas followed by carrots and turnips in Japan among the frozen vegetables segments during the forecasted period. Higher demand for RTE (Ready to Eat) products specifically has resulted in higher demand for peas and carrots and turnips. Among various frozen vegetable types, potatoes were estimated to have a larger market share of 45.08% and sweet potatoes 17.19% in the year 2016.
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Major Key Players Analysis:
Frozen fruits and vegetables market is a highly dynamic market demanding high product differentiation to gain competitive advantage, which is reflected by the maximum number of strategic initiatives taken in the form of maximum new product launches. Among the various adopted by the companies in the frozen fruits and vegetables market, acquisitions new formed a major share followed by new product launch.
The key players profiled in Frozen Fruits and Vegetables are General Mills (U.S.), Dole (U.S.), Ardo NV (Belgium), Simplot Australia PTY Ltd (Australia), HJ Heinz (US), Findus Sverige AB, (Sweden), Pinnacle Foods Corp. (US), and Bonduelle Group (France).
Latest Industry Updates:
Sep 2015 B&G to buy General Mills' Green Giant frozen foods business. Snack food company B&G Foods Inc. said it would buy General Mills Inc’s Green Giant frozen foods and Le Sueur canned vegetables brands for about $765 million to expand its distribution network and enter the frozen foods market. Green Giant, with a portfolio of more than 160 products, is the second-biggest frozen foods brand by market share in the United States and the largest in Canada.
May 2017 A recall popular of bagged salads produced at a single Dole Fresh Vegetables, Inc. has reportedly cost the company $25 million. The recalled salads were also sold under a number of store brand labels--Aldi, Kroger, Meijer and Walmart.
Oct 2016 Supermarket giant Coles has done agreement for sourcing an extra 6 million kilograms of Australian vegetables a year in a deal with food processor Simplot.
Oct 2015 Pinnacle Foods has acquired a Unilever manufacturing plant in Hagerstown, Md. The plant, planned to be operational in 2018, will manufacture products for the company’s Gardein plant-based protein business
The APAC Frozen Fruits and Vegetables market has been divided into type, form, packaging, application and region.
On The Basis Of Type: fruits and vegetables
On The Basis Of form: whole, puree, topping bar, other processed forms
On The Basis Of packaging: 10-15 kgs, 15-30 kgs, and >30 kgs
On The Basis Of Application: Fruit- Whole Fruits, Fruit juices & Smoothies, Breakfast Cereals, Salads & Desserts, Bakery Foods, Yoghurt and Others
Vegetable-Whole Vegetables, Pizza Toppings, Salads, Noodles & Pastas, Soups, RTE (Ready to Eat Foods), and Others
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Frozen fruits and vegetables have huge potential in Asia and Russia, as the markets are practically untouched by these product categories. Fresh Fruits and Vegetables still dominate the scene in these regions. In Europe a mixed trend is being witnessed. In countries like Germany, UK and Scandinavian countries, the growth is stagnating. However in Italy, France, Spain and Portugal a healthy above average growth rate is being experienced. China followed by India dominates the APAC frozen vegetables market with estimated share of 34% and 29% in the year 2016. However, highest growth will be seen in Thailand with growing demand for its agricultural and horticultural products.
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