Frozen fruit is stored in the freeze in order to make them available throughout the year with no spoilage. They are rich in vitamins and minerals as compared to fresh fruits. They are harvested at the peak of ripeness and packaged under nitrogen atmosphere. Nitrogen atmosphere helps to preserve all the nutrients present in the fruit. Some fruits undergo blanching treatment that keeps the bright green color fairly bright after they are stored. Frozen fruits are a highly healthiest food item and are the ideal alternative of fresh fruits. Frozen fruits can be stored up to 12 months under controlled temperature conditions.
The global frozen fruits market is estimated to account for slightly less than US$ 2.0 billion in terms of value in the year 2018 and it predicted to grow at a CAGR of 5.0% during the forecast period (2019-2027)
Frozen fruits are considered as healthiest food item which is propelling the market growth of frozen fruit over the forecast period. According to the Coherent Market Insights, a study by Dr. Gene Lester of the USDA Agricultural Research Center in Weslaco, Texas, concludes that produce selected for freezing is harvested when it is at its most ripe stage rather than harvesting it earlier, and allowed to ripen during transport to the market. When ripe, fruits provide the best and highest nutrition. Transportation of fresh produce from the farm to the market takes a couple of weeks, during which the fruits tend to lose a lot of nutrients. Frozen produce remains nutritionally intact for up to a year.
Changing consumer purchasing patterns due to lack of time and easy access to a wide variety of frozen fruit products are some of the other major factors that are expected to foster market growth. Moreover, the consumer is looking for affordable, convenient, and different varieties of frozen fruits throughout the year which is one of the major factors responsible for creating ample growth opportunities for frozen fruit products.
The high cost associated with the power and freight in the frozen food sector is anticipated to hamper the market growth of frozen fruits. High freight cost is due to the required conditions for transportation and storage, such as refrigerated/cold containers. Moreover, inadequate infrastructure facilities such as shortage of power supply and improper road networks in developing countries such as India, Africa, and Brazil is further projected to curb the market growth of frozen fruits.
On the basis of fruit type, red fruits & berries has dominated the global frozen fruit market in 2018 with a 53.1% of market share in terms of value, followed by tropical fruits and citrus fruits.
The rising number of partnerships among major players in order to expand their presence in the market is anticipated to foster the market growth of frozen fruits. For instance, in May 2019, Greenyard Frozen UK and leading supermarket chain Tesco have announced a new partnership, through which Greenyard will supply the multinational retail giant’s full range of frozen fruits, vegetables, and herbs. The strategic deal will result in a material increase of volume, which will contribute positively to the revenue of all parties in the supply chain.
Increasing investment by major players in order to increase the production of frozen fruits will favor the market growth of frozen fruits. For instance, in August 2019, the EBRD is investing US$ 5.4 million in Raya Foods, a fast-growing frozen fruits and vegetable production company based in Egypt, to support the fast-growing business’s future expansion. The financing will enhance the company’s ability to invest in new equipment and storage facilities to match strong business orders.
Key players operating in global frozen fruit market are Uran Food Group Limited, Pinnacle Foods Inc., Kendall Frozen Fruits Inc., Ardo NV, SunOpta Inc., Welch Foods Inc., Agrana Beteiligungs, Kerry Group Plc, SICA SICODIS and Titan Frozen Fruits LLC.
Few Recent Developments
Kendall Frozen Fruits Inc.
By Fruit Type