The Global Frozen Fruits Market was worth USD 2.37 billion in 2016 and estimated to be growing at a CAGR of 5.72%, to reach USD 3.13 billion by 2021.
Hyderabad, India -- (SBWIRE) -- 03/05/2018 -- The report " Frozen Fruits Market By Application (Confectionery & Bakery, Jams & Preserves, Fruit-based Beverages, Dairy, And Others), By Product Type (Citrus Fruits, Red Fruits & Berries, And Tropical Fruits), By Technique (Freeze Drying, IQF), And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)", The Global Frozen Fruits Market was valued to be worth USD 2.37 billion in 2016, and is calculated to grow with a CAGR of 5.72% to approach USD 3.13 billion by the end of 2021. The increasing demand for frozen fruits and growing proportion of working population are the main driving factors behind the market growth.
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Confectionaries to command the biggest market share in the forecast period
Based on classification by application, the global market is categorized into Confectionery & Bakery, Jams & preserves, Fruit-based Beverages, Dairy, and other applications. In 2016, the Confectionary & Bakery segment of the market occupied the place of the top market share contributor globally. This is because of the large demand for baked goods across the globe. On the other hand, the Jams & preserves segment is to witness a high growth rate owing to their bigger shelf lives.
Red fruits & berries segment to witness very high rate of growth till 2021
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Under segmentation by Product type, the global Frozen Fruits market is divided into citrus fruits, red fruits & berries, and tropical fruits. The increasing preference toward frozen fruits from fresh fruits due to lesser cost and more shelf life directly translates into market demand. Due to the increased usage in desserts and confectionaries, the Red fruits & berries segment leads this segmentation in terms of market share. It accounts for more than half of the global market share.
By process, the sequencing segment accounted for the largest share of the market in 2017
By categorization based on Technique, the global Frozen Fruits market is classified into freeze drying and IQF. IQF freezing preserves the cell structure of the fruits, enabling the fruits to be fresher than the freeze-dried fruits. The IQF fruits segment is going to experience a high growth rate during the forecast period, based on the longer shelf life and the prevention of lumping in fibrous fruits.
Europe continues its domination in the global market
The market has been geographically studied in North America, Europe, Asia-Pacific and the Rest of the World regions. Among these, Europe accounted for the largest market share in the Frozen Fruits market globally. However, North America and the Asia Pacific provide huge market potentials for the companies to enter the global market. This is due to the presence of emerging markets in both the regions.
The major companies leading the global Frozen Fruits market are Welch Foods, Ardo NV, Pinnacle Foods Inc., Uran Food Group Limited, Kerry Group Plc., SunOpta Inc., Nestle, ConAgro Foods Inc. Kendall Frozen Fruits Inc., and General Mills.
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