
Published On: Dec 2020
Published On: Dec 2020
Growing demand from packaged and processed food industry to drive North America frozen fruits market at CAGR of 5.3%
According to the latest study on “North America Frozen Fruits Market Forecast to 2027 – Covid-19 Impact and Analysis – by Product Type (Citrus Fruit, Tropical Fruits, Berries, and Others); Application (Confectionery and Bakery, Jams and Preserves, Fruit-based Beverages, Dairy, and Others); Technique (Freeze Drying and Individual Quick Freezing (IQF)), and Country,” the North America frozen fruits market was valued at US$ 786.91 million in 2019 and is projected to reach US$ 1,179.84 million by 2027; it is expected to grow at a CAGR of 5.3% during 2020–2027. The report provides understanding on the key driving factors pertaining to the market growth and highlights the prominent players in the market, along with their developments.
Frozen fruit is a rich source of vitamins, proteins, carbs, antioxidants, and other nutrients. These fruits find many applications in food processing industries and are used in products, such as bakery, confectionery & other packaged food items like bread, cakes, and pastry. Frozen fruits are further used in making jams and other fruit spreads, fruit-based beverages, and dairy products. Owing to busy & hectic lifestyles, there is a noticeable increase in the consumption of these ready-to-eat food products and beverages over the past few years. Rise in disposable income and improving economic conditions, consumers in developed and developing countries are able to spend a considerable amount on packaged food, including snacks and bakery products, which further propel the growth of the frozen fruits market. Also, with the growth food & beverage industry and diversification of distribution channels, and convenience foods have found a shelf in retail outlets along with supermarkets. Frozen fruits offer the convenience of use and food preparation. It is further used in the making of pastries, cookies, and cakes. It is also demanded in various food cuisines for the purpose of adding nutritional content & flavor. It is further used in making scones, muffins, and biscuits. Several dishes, such as chewy cookies, croissants, protein bars, are prepared using frozen fruits. Thus, the growing demand from the packaged and processed food industry is expected to drive the frozen fruits 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 North American frozen fruits market. The frozen fruits are known to be one of the healthiest fruits that have been gaining rising demand in this 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 North American region. The easy availability of frozen fruits compared to fresh fruits has been another factor that has fueled the demand for frozen fruits worldwide. The longer shelf life of frozen fruits as compared to fresh fruits has been another contributing factor to the rise and expansion of the frozen fruits market all over the region.
The North America region constitutes developed countries such as the US and Canada as well as Mexico as a developing nation. The food and beverage companies operating in the region are continuously enhancing the overall business processes to meet the rising customers' demands in the best possible way. A large number of domestic and international companies have a strong foothold in North American. The demand for frozen fruit in North America is increasing due to the veganism trend being followed in New York. Due to this trend many consumers are totally dependent on fruits and vegetables that increases the demand for frozen fruit. The confectionary and the bakery sector in North America have increased their demand frozen fruits. This is because pies, which is a baked dish, has made itself a part of the American food culture and the consumers have increased the consumption for pies. For making different type of sweet pies the bakery sector requires frozen fruits such as strawberry, banana, apple, cranberry, cherry, blueberry, peach, blackberry, nectarine and raspberry. Thus, this increases the demand for frozen fruits in the North America region. The frozen fruit market has also grown because of the highly developed and evolved cold chain facilities and infrastructure in North America as well as increase in the rising disposable income of the consumers. Additionally, an increase in the percentage of working women in North America has increased the demand for ready to eat convenience food, which is further expected to fuel the frozen fruit market growth.
The COVID-19 outbreak first began in Wuhan, China, in December 2019, and since then, it has spread at a fast pace worldwide. As of November 2020, the US, Brazil, India, Russia, South Africa, Mexico, and the UK are among the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverage is one of the major industries suffering facing serious disruptions such as office and factory shutdown and supply chain breaks, as a result of this outbreak. The US has the highest number of confirmed cases of COVID-19 morbidities in North America. The majority of the manufacturing plants were shut down during the lockdown, and the construction industry was at a halt, which has negatively impacted the frozen fruits market. In Canada, manufacturing units deemed nonessential were shut down, and the essential projects are subject to public health guidelines. The slowdown in the sales of frozen fruits in North American region will surely affect the overall growth of the frozen fruits market.
Some of the major key players operating in the North America frozen fruits market include API Heat Transfer Inc., Climetal S.L, Danfoss, DENSO Corporation, Hanon Systems, Kaltra, Zhejiang Kangsheng Co. Ltd (Kasun), MAHLE GmbH, Modine Manufacturing Company and Sanhua Holding Group Co., Ltd. among many others.
The report includes the segmentation of North America frozen fruits market as follows:
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