(Entertainment-NewsWire.com, August 16, 2018 ) Frozen Fruits Market was worth USD 2.65 billion in 2018 and estimated to be growing at a CAGR of 5.72%, to reach USD 3.50 billion by 2023. The increasing demand for frozen fruits and growing proportion of the working population are the main driving factors behind the market growth.
By process, the sequencing segment accounted for the largest share of the market in 2018
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.
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.
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.
