Frozen Fruits Market: Introduction
A recent study published by Transparency Market Research on the frozen fruits market comprises global industry analysis and opportunity
assessment for 2020-2030. Revenue generated from the global
frozen fruits market was valued at ~US$ 11 Bn in 2020, which
is estimated to rise at a CAGR of 5.6%, to reach ~US$ 21 Bn by 2030. The
rising demand for seasonal fruits and consumer awareness about clean label
products with a longer shelf life is expected to support the growth of the
frozen fruits market.
Frozen Fruits Gain Traction in Global Market
According to the World Bank, over 60% of the world
population lives in urban areas. Rise in the hectic lifestyle and slummy health
conditions, owing to unhealthy eating habits is driving consumers to demand for
special dietary needs and high nutrition products. Consumers are switching to healthy
snacking due to convenience and nutrition offered by such products, as
round-the-clock snacking is the new “normal”. Healthy snacking also helps in
keeping blood sugar levels in check throughout the day, helping to avoid the
infamous nap-inducing slumps in between meals, losing weight, and boosts immune
system. Frozen fruits are widely being used as and in snacks. Frozen
fruits-based snacks are available in different fruit options and packaging to
grab consumer attention. Moreover, vacuum frying and freeze drying methods are
gaining momentum in the frozen fruits market, as companies are adopting these
technologies in the snack industry to retain original flavor, original shape of
the product, and provide maximum nutrition.
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Freezing Technique such as IQF a Cost-effective
Process to Preserve Fruits
Freezing technique offer cost advantage over other processing methods,
such as canning and drying where certain raw materials (sugar, preservatives,
etc.) are required in addition to fresh fruits, which adds on the cost of
processing. Furthermore, the IQF freezing technology is much faster than the
cold freezing technology. The shorter processing time translates into less
electricity consumption and thus, to cost-saving and energy conserving. The
process also involves simple packaging requirements for processed fruits as compared
to more complex and costlier packaging involved in methods such as canning. The
lesser production cost is leading to the growing demand for the IQF freezing
technology, thereby, providing boost to the frozen fruits market. In addition,
during transportation or in heat and light exposure, frozen fruits have the
properties to protect against spoilage.
Manufacturers Strive to Innovate
An increasing number of the global working population is creating a new
requirement for convenience foods due to time constraints. Frozen fruits also
offer ease of use, storage, and further processing. Consumers are trying
different tastes and flavors and offering for fruit flavors in their products,
especially in bakery and confectioneries. This is driving the demand for various
seasonal fruits in end-use industries such as bakery, confectioneries,
smoothies, RTD beverages, and others.
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e-Commerce to Fuel Frozen Fruits Market Growth
Prospects
Consumers can now shop frozen products online, including imported fruits
that are not grown or sold locally. The growth of online retailing has resulted
in a widespread supply of frozen fruits through cold storage and large network
leading to easy availability and accessibility of frozen fruits to consumers.
Impact of COVID-19: Frozen Fruits Market
The global pandemic of Covid-19 has a deep impact on the frozen fruit
industry, as coronavirus crisis hammers economies. Lockdowns and other
stringent measures taken by governments have drastically changed the market for
frozen fruits. The lockdown imposed to limit COVID-19 spread has also adversely
weakened many players' networks (supply chain). The uncertainty caused by the
outbreak of COVID-19 has interrupted the import and export of frozen fruits due
to the closing of international borders.
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