The global processed and frozen vegetables market is estimated to be valued at USD 25.2 billion in 2022 and is expected to register a CAGR of 8.1% from 2023 to 2030. Processed and frozen vegetables are gaining immense popularity among consumers due to their ease of use, convenience, and long shelf life. Furthermore, the rising health consciousness among consumers has been driving the demand for healthy and nutritious foods, which has further increased the demand for processed and frozen vegetables.

In addition, technological advancements in the frozen food industry have enabled manufacturers to store and preserve the freshness of the vegetables for a longer period of time. The rising trend of convenience foods is also expected to positively impact the market growth. Furthermore, the increasing demand for ready-to-eat meals is driving the growth of the processed and frozen vegetables market. For instance, in November 2021, McCain Foods launched a new range of vegan ready meals, including frozen processed vegetables such as sweet potato fries and cauliflower bites.

Moreover, the growing demand for frozen vegetables among retailers and institutional customers is encouraging manufacturers to expand their product lines. Manufacturers are continuously introducing new frozen vegetable products in the market to meet the changing needs of customers. For instance, in February 2022, Green Giant introduced a line of frozen vegetable bowls, which feature a combination of whole grains, vegetables, and legumes.

The rising trend of private label products is also expected to positively impact the market. The presence of private labels in the food industry has increased significantly over the past few years. Private label products offer cost-effective alternatives to premium branded products. For instance, in April 2021, Asda, a UK-based retailer, launched a new range of frozen vegetables under its own-brand label.

Furthermore, the increasing demand for convenience foods is propelling the demand for frozen vegetables. The growing demand for ready-to-eat meals has prompted manufacturers to introduce frozen vegetables in a range of convenient packaging formats. For instance, in August 2021, Green Giant launched a range of frozen vegetables in microwavable bags, which is expected to further drive the market growth.

The frozen vegetables segment accounted for the largest share of the market in 2022. Frozen vegetables are easy to cook, store, and transport and are convenient to use. Moreover, frozen vegetables are free from preservatives and offer more nutrients than the fresh vegetables. This, in turn, is boosting the demand for frozen vegetables. According to a report published by Global Market Insights, in February 2020, the frozen vegetables market is expected to witness a CAGR of 7.5% during the forecast period.

The processed vegetables segment is anticipated to register the highest CAGR of 8.6% over the forecast period. The growing demand for ready-to-eat convenience food items, especially from working individuals and busy households, is driving the market for processed vegetables. Moreover, technological advancements, such as the introduction of freeze-drying and aseptic packaging, are anticipated to drive the market growth. According to a report published by Market Research Future, in August 2019, the processed vegetables market is expected to reach USD 28.3 billion by 2023.

The supermarkets & hypermarkets segment captured the major share of over 60% in 2022. The growth of the segment is mainly driven by the convenience it offers to customers in terms of product availability and variety. Supermarkets & hypermarkets provide a wide range of frozen and processed vegetables products, which are conveniently located in the same store. Moreover, with the introduction of private labels and discounts, supermarkets & hypermarkets are becoming the preferred choice among customers.

Online stores are projected to register the highest CAGR of 11.2% over the forecast period. The increasing penetration of internet and smartphone users is creating new opportunities for frozen and processed vegetables manufacturers to reach out to customers through e-commerce websites. Moreover, the convenient payment methods provided by the e-commerce websites are expected to drive the demand for frozen and processed vegetables products in the coming years. In addition, the availability of discounts and offers by e-commerce websites is likely to propel the segment growth.

The processed segment accounted for the largest revenue share of 72.9% in the year 2022. The increasing demand for convenience food has been driving the demand for processed frozen vegetables. The convenience food trend is particularly prominent among the working population in developed economies, such as the U.S., U.K., and Germany, as it saves time for meal preparation. Furthermore, the increasing use of processed frozen vegetables in the foodservice industry is also driving the demand for processed frozen vegetables.

The frozen segment is expected to expand at the highest CAGR of 8.6% over the forecast period. The increasing health consciousness among consumers is driving the demand for frozen vegetables. Frozen vegetables are known to retain their nutritional content longer than fresh vegetables, which has been contributing to the demand for frozen vegetables. Furthermore, the convenience and long shelf life of frozen vegetables are also expected to drive the market growth over the forecast period.

Europe dominated the market and accounted for the largest revenue share of over 32.1% in 2022. This growth can be attributed to the increasing demand for frozen vegetables in the region, as it offers vegetables in their freshest form and makes them available throughout the year. The rising trend of convenient foods, such as ready-to-eat and frozen meals, is expected to drive the demand for frozen vegetables in the region. For instance, in January 2021, McCain Foods launched a new range of frozen vegetables, such as mashed potatoes and potato wedges, in the U.K.

Asia Pacific is expected to witness the second-fastest growth in the coming years. Rising demand for frozen health food items, such as frozen fruits, vegetables, and herbs, is expected to drive the growth of the market. Additionally, the presence of various local and international companies, such as Nestlé and McCain Foods, is expected to fuel the market growth in the region. For instance, in October 2021, McCain Foods India launched a new range of frozen vegetables, such as french fries, potato parathas, and mashed potatoes.

In this part of the processed & frozen vegetables products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your processed & frozen vegetables products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main sources of revenues for a processed & frozen vegetables products business comes from the sale of products in retail stores and direct sales to customers. Here you will find a list with a description of each of them and other possible sources of profit such as wholesale orders, e-commerce sales, and selling products through subscription services.

Projecting Expenses
In this section, all the regular expenses related to keeping the processed & frozen vegetables products business running will be described. The list of operating expenses includes wages, packaging materials, shipping and delivery fees, advertising, and others. Additionally, expenses related to acquiring and processing raw materials, as well as costs associated with storage and distribution, should also be taken into account.

Some of the key companies operating in the processed & frozen vegetables market are increasingly focusing on product launches, acquisition, and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In August 2022, McCain Foods Ltd. acquired a majority stake in U.S. based frozen potato supplier, Lamb Weston for an estimated $4.2 billion.

– In October 2022, AGRANA Group launched a range of frozen vegetable products targeting the convenience food industry.

– In December 2022, Simplot Australia launched a range of frozen vegetable products in the Australian market.

Some of the prominent players in the processed & frozen vegetables market include:

– McCain Foods Ltd.
– Lamb Weston
– AGRANA Group
– Simplot Australia
– Cargill Inc.
– Bonduelle SA
– General Mills, Inc.
– Conagra Brands, Inc.
– Kellogg Company
– Kraft Heinz Company

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global processed & frozen vegetables products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Processed Fruits
– Processed Vegetables
– Frozen Fruits
– Frozen Vegetables

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Conventional
– Organic

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the major market trends in the processed and frozen vegetables products market?
[A]: The processed and frozen vegetables products market is expected to witness increasing demand for convenient, healthy, and ready-to-eat food products, in turn driving the demand for processed and frozen vegetables. Additionally, the rising demand for organic, natural, and fresh vegetables is expected to propel the growth of the processed and frozen vegetables market. Furthermore, new product launches, such as ready-to-eat vegetables and vegan meals, are expected to boost the growth of the market.

[Q]: Who are the major players in the processed and frozen vegetables products market?
[A]: Key players in the processed and frozen vegetables products market include Bonduelle Group, Del Monte Foods, Dole Food Company, Greencore Group, General Mills, Hormel Foods, Kraft Heinz, Nestle, Pinnacle Foods, and Unilever.

[Q]: What are the key drivers of the processed and frozen vegetables products market?
[A]: The key drivers of the processed and frozen vegetables products market are the rising disposable income of consumers, increasing urbanization, and a growing trend towards convenience foods. Additionally, the increasing demand for ready-to-eat and ready-to-cook products is also driving the growth of the market.

[Q]: What are the opportunities for the processed and frozen vegetables products market?
[A]: As the demand for healthy and nutritious food products increases, the processed and frozen vegetables products market is expected to benefit from this trend. Additionally, the increasing demand for convenience foods and ready-to-eat meals is expected to open up opportunities for growth in the market.

[Q]: What region offers the largest opportunity for sales of processed and frozen vegetables products?
[A]: Asia Pacific is expected to be the largest regional market for processed and frozen vegetables products. Factors such as the increasing demand for convenience foods, growing health consciousness among consumers, and rising disposable incomes are expected to drive the growth of the market in the region.