The global frozen fruits market has been estimated to be valued at USD 1,815.7 Mn in 2015 and is expected to witness a significant CAGR over the forecast period (2016–2022).
New York, NY -- (SBWIRE) -- 05/18/2016 -- Persistence Market Research (PMR) delivers key insights on the Global Frozen Fruits Market in its latest report titled "Global Market Study on Frozen Fruits: Upsurge in Demand from Industrial Customers to Drive Market Growth over the Forecast Period 2016 - 2022". The global frozen fruits market is anticipated to witness robust growth during the forecast period (2016 - 2022). The global frozen fruits market is anticipated to expand at a CAGR of 3.8% in terms of volume, during the forecast period due to various growth factors, regarding which PMR offers vital insights in detail in this report.
On the basis of product type, the market has been segmented into red fruits & berries, tropical fruits and citrus fruits. In terms of market share, red fruits & berries segment dominated the market with a share of 52.6% in 2015 in terms of volume, followed by strawberry and blueberry segments, respectively.
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On the basis of technique, the global frozen fruits market has been segmented into IQF and freeze drying; of these, IQF has been estimated to be the largest segment in the global frozen fruits market in terms of revenue and volume contribution in 2015.
Growth of the global frozen fruits market is mainly driven by significant income growth in emerging markets of Latin America, Eastern Europe and Asian, especially increasing disposable income of the middle class population in these regions. This, in turn, is increasing consumer spending on new goods and services. Also, rising number of women in the workforce is leading to significant change in consumer lifestyle. This involves increasing preference for convenience and ready-to-eat food products such as frozen fruits. The aforementioned factors are anticipated to drive growth of the market over the forecast period.
This report covers trends driving each segment and respective sub-segments and offers analysis and insights of the potential of the frozen fruits market in specific regions. By region, Europe dominated the frozen fruits market, accounting for over 35% share of the overall market in volume terms. Though Europe is expected to remain dominant throughout the forecast period, it is poised to lose market share to other regions by 2022. Asia Pacific frozen fruit market is expected to witness highest growth during the projected period.
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Some of the major players identified in global frozen fruits market report are Uran Food Group Limited, Pinnacle Foods Inc., Kendall Frozen Fruits Inc., Ardo NV, SunOpta Inc., Welch Foods, and Kerry Group Plc. These companies are investing in research and development activities as well as introducing customized frozen fruit products in order to gain competitive advantage and strengthen their position in the global frozen fruits market.
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