Growing Consumer Affinity toward Natural Food Products to Boost Market Growth
The influence of the younger population on the food & beverages industry is evident, as market trends continue to evolve at a rapid pace. Modern-day consumerism largely constitutes of health-conscious consumers that are increasingly shying away from consuming processed or food products made from synthetic ingredients. The demand for natural and organic food products is on the rise due to which, the frozen fruits market is expected to witness significant growth during the forecast period (2020-2030). In addition, as consumer awareness pertaining to the potential benefits of consuming natural food products continues to grow, the demand is likely to move in the upward direction. The rise in the vegan population around the world is another factor that is expected to provide an impetus for growth of the global frozen fruits market over the next few years.
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Players operating in the current frozen fruits market are largely focusing on developing impactful value prepositions for the millennial population. Although the frozen food sector has not yet attracted a sizeable number of consumers around the world, the trend is gradually changing. In their bid to increase sales and establish a solid foothold in the frozen fruits market landscape, several players are primarily focusing on the quality and packaging of their products. Moreover, branding and marketing strategies are being continually reviewed to attract a larger consumer base due to which, the sale of frozen fruits is estimated to grow consistently in the near future. At the back of these factors, the global frozen fruits market is projected to reach a market value of ~US$ 21 Bn by the end of 2030.
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Widening Applications of Frozen Fruit Pulps to Drive Global Market
As modern-day consumers are increasingly shifting toward healthier food products, the demand for frozen fruits has witnessed considerable growth. Furthermore, due to the high nutritional value of frozen fruits, they are increasingly being used in a host of industrial applications. As research and development activities gain momentum, along with developments in the food science sector, frozen fruits offer immense promise in several industrial applications.
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Apart from the food sector, the frozen fruit pulp is predominantly used as a value-added product in cosmetic and pharmaceutical sectors. The export of frozen fruit pulp to both, developed as well as developing regions of the world has increased at an impressive pace over the past few years. The frozen fruit pulp is utilized in various ways in different regions of the world. For instance, in Latin America, Camu-Camu is primarily used in food, pharmaceutical, and cosmetic industries. In the food industry, the frozen fruit pulp is used to increase the vitamin C content. As the application of frozen fruit pulp continue to widen, it directly impacts the demand for frozen fruits. The frozen fruit pulp is also used to produce a host of products, including juice, jams, nectar, candies, and alcoholic drinks.
Innovations in Packaging and Adoption of Marketing Strategies to Increase Demand
In their bid to enhance their share of the global frozen fruits market, market participants are increasingly focusing on the packaging of their products to attract more consumers. Several market players are also investing resources to develop environment-friendly packaging solutions amid mounting environmental concerns. While several companies are prioritizing packaging, a number of organizations are reviewing their marketing strategies to increase their consumer base. Digital marketing strategies coupled with informative and interactive video advertisements are likely to create a substantial demand for frozen food products and items during the assessment period.
Supply Chain Bottlenecks amid COVID-19 Pandemic to Hamper Market
The ongoing COVID-19 crisis has largely affected the supply chain of major industrial sectors, including the food & beverages sector. As governments across the world continue to impose stringent restrictions on cross-border trade and transportation, barriers within the supply chain are likely to remain a major challenge for players in the frozen fruits market. The demand for frozen food products has witnessed a decline around the world, as consumers are largely opting for unfrozen fruits and vegetables over frozen counterparts. However, in several regions of the world such as the U.S., Australia, and more, due to speculation of a lockdown, the sale of frozen fruit pulps and syrups witnessed a spike in the first two quarters of 2020.
