It is important to stay innovative, in all segments of the fruit and vegetable sector, and frozen fruits and vegetables are no exception.
"As consumers are becoming increasingly price-savvy, cheaper retailers, discounters and private label products are on the rise, and private labels play a very significant role in the Eastern Europe development of the market, as these consumers are more price-sensitive. In Poland, for instance, private labels account for almost 25% of sold frozen food. Private labels are driving an important wave of innovation, being today responsible for 43% of frozen vegetable launches," said Svetlana Plotean from Octofrost.
"Consumer perception of frozen food is slowly improving even in Eastern Europe due to an increasing number of private labels at competitive prices and different marketing schemes."
The global market for IQF fruits and vegetables will continue to grow with a double digit CAGR by 2027 due to increased demand from both foodservice and retail sectors, reports Frozen Food Europe.
The USA and Canada are expected to account for the biggest part of the IQF fruits and vegetables market. The Asian Pacific market is also expected to grow with a double digit CAGR by 2020 due to the increased disposable income and increasing preference of convenience foods.
The value of consumed frozen vegetables in Europe is between EUR 8 to 9 billion per year. The biggest consumers of frozen fruits and vegetables are Italy, Germany and France. In terms of value, Italy is registering the highest sales of EUR 675 million, followed by UK with EUR 618 million and Germany with EUR 605 million. These top 3 consumers account for 75% of the total market in 2015, a figure which reaches 90% if counting France as well.
"The main factors driving this growth are the search for convenience and lower prices from the consumer’s side. Producers are putting more emphasis on healthy and more convenient alternatives. Innovations such as microwaveable packaging is a clear indicator that this category is developing and is working on keeping up with the dynamics in consumption patterns. More emphasis is being placed on the nutritional value of the frozen vegetables and new ethnic-inspired varieties are some of the latest hot practices. Today’s consumer is busier than ever, health conscious and really enjoying good taste. The frozen vegetables market is successfully fulfilling these needs," concluded Svetlana.
For more information:
Carmen PopescuOctoFrost Group