Report : Asia Pacific Frozen Fruits Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type (Citrus Fruits, Tropical Fruits, Berries, and Others), Application (Confectionery and Bakery, Jams and Preserves, Fruit-Based Beverages, Dairy, and Others), and Technique (Freeze Drying and Individual Quick Freezing)
Advantage of using frozen fruits is projected to escalate the frozen fruits market growth at CAGR of 5.6% during 2020-2027
According to our latest market study on “Asia Pacific Frozen fruits Market Forecast to 2027 – COVID-19 Impact and Asia Pacific (APAC) Analysis – By Product Type (Citrus Fruit, Tropical Fruits, Berries, Others); Application (Confectionery and Bakery, Jams and Preserves, Fruit-based Beverages, Dairy, Others); Technique (Freeze Drying, Individual Quick Freezing (IQF)), and Country,” the market was valued at US$ 553.14 million in 2019 and is projected to reach US$ 848.13 million by 2027; it is expected to grow at a CAGR of 5.6% during the forecast period. The report highlights key factors driving the market growth and prominent players, along with their developments in the market.
Frozen fruits are the fruits that are quickly frozen and packaged in a nitrogen atmosphere when picked at their ripeness peak. The various health benefits related to frozen fruits consumption have been one of the major factors that have favored the APAC frozen fruits market. The frozen fruits are known to be one of the healthiest fruits that have been gaining rising demand in the APAC region. The frozen fruits are a rich source of various antioxidants, minerals, and vitamins that have further favored the growth of the market all over the APAC region. The easy availability of frozen fruits compared to fresh fruits has been another factor that has fueled the demand for frozen fruits in the region.
Frozen fruits are gaining popularity among consumers since they offer many advantages over fresh produce. It has further revitalized the industry as awareness of the nutritional value of frozen fruits increases coupled with clean eating habits. The shelf life of frozen fruit is longer as compared to the fresh fruit, due to which consumers tend to prefer frozen fruits more. Additionally, demand for frozen fruits has been increased owing to changes in consumer consumption patterns and changes in lifestyle. Frozen fruits offer numerous benefits, including shorter cooking time, the convenience of using, no need to peel, cut, and wash, and among others. These factors are anticipated to fuel the APAC frozen fruits market in the upcoming years.
The Asia Pacific frozen fruits market is concentrated with a few well-established players such as Crop's Fruits NV, Dole Packaged Foods LLC., Mirelite Mirsa Co. Ltd., SunOpta Inc., Greenyard, J.R. Simplot Company, and General Mills Inc.
Impact of COVID-19 Pandemic on Frozen fruits Market
COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms of confirmed cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the frozen fruits market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.
The report includes the segmentation of the Asia Pacific frozen fruits market as follows:
- Citrus Fruit
- Tropical Fruits
- Freeze Drying
- Individual Quick Freezing (IQF)
- Confectionery and Bakery
- Jams and Preserves
- Fruit-based Beverages
- South Korea
- Rest of APAC
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