Asia Pacific Frozen Fruits Market

Asia Pacific Frozen Fruits Market Growth and Forecast (2023 - 2028):

The Asia Pacific Frozen Fruits Market size was worth USD 0.78 billion in 2022 and estimated to be growing at a CAGR of 6.32%, to reach USD 0.98 billion by 2028.

Market Overview:

Frozen Fruits consist of high levels of vital vitamins and potentially useful antioxidants as compared to the fresh ones, and also help in protecting against the heart diseases. This is only because freezing sustains the products for prolonged periods without any additives and prevents any type of microbial growth that causes food spoilage.

Frozen Fruits are made from a procedure in which the eatables are primarily blanched, boiled, and then frozen considerably. They are conserved at a temperature usually below -9.5°C, at which all moisture is in the solid condition. This averts the advance of microorganisms, decelerates decomposition and in turn aids in keeping fruits fresh for a prolonged period of time.

Drivers and Restraints:

Drivers:

The growth of the Asia Pacific Frozen Fruits market is majorly driven by factors such as availability of an extensive range of frozen fruit products, hectic work schedule, shifting customer purchasing patterns, and growing urban population. Also, the rising population of working women has prompted the need for ready to eat convenience food, thereby replacing the conventional home cooked food.

Restraints:

However, heavy presence of sodium and artificial preservatives in frozen foods, high price rates, and product quality are some of the factors hindering the growth of the market in this region. Also, high upkeep and logistics cost at a cryogenic temperature for these foods are expected to pose a problem for the companies in this market.

Asia Pacific Frozen Fruits Market Segmentation Analysis:

The Asia Pacific Frozen Fruits market is segmented based on Application, Product type, and Technique. The market for Frozen Fruits, on the basis of Application, is classified into Confectionery & Bakery, Jams & preserves, Fruit-based Beverages, Dairy, and Others. The Confectionery & Bakery segment leads the Frozen Fruits market under the application segment. However, the Jams & preserves segment is anticipated to grow at the highest CAGR due to growing demand from emerging economies. On the basis of Product type, the Frozen Fruits market is segmented into citrus fruits, red fruits & berries, and tropical fruits. Red fruits & berries segment leads the market with over 60% of the market share in terms of revenue. On the basis of Technique, the Frozen Fruits market is segmented into freeze drying and IQF. The IQF segment is projected to increase at the highest CAGR during the forecast period, as it avoids lumping of frozen fruits, predominantly pulpy fruits such as sliced mangoes.

Geographical Analysis:

The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Factors such as growing urbanization and rising disposable income are driving the frozen fruits market in the Asia-Pacific region. Some of the other promising players in this market are Indonesia, Malaysia, and Singapore.

This industry is extremely influenced by the macro-economic state of an economy, as the intake of frozen fruit products drop sharply due to economic slumps.

Key Players in the Market:

Major Key Players in the APAC Frozen Fruits Market are

• Pinnacle Foods Inc
• Welch Foods, Ardo NV
• SunOpta Inc
• Kendall Frozen Fruits Inc
• Uran Food Group Limited
• Kerry Group Plc
• Nestle
• ConAgro Foods Inc
• General Mills