The global frozen fruits market size is expected to expand at a CAGR of 6,7% and reach USD5.59bn by 2027, according to a new report by Grand View Research. As most international trade has been affected by the pandemic, consumers are expected to increasingly spend on the purchase of packaged food items, such as frozen fruits. The growing popularity of products with a longer shelf life, including packaged fruits and vegetables, as a result of increased occurrences of COVID-19 at the global level, is expected to expand the market scope.
In terms of product, tropical fruits accounted for over 40% share of the global revenue in 2019. The growing popularity of tropical varieties, including papaya, banana, and pineapple, as a key vitamin source among consumers, is fueling the growth of the segment. Berries are expected to register a CAGR of 7.5% from 2020 to 2027, owing to the growing adoption of these products in the formulation of various beverages in developing countries, including China and India. Online sales will also play a pivotal role, with an expected CAGR of 7.7% over the forecast period.
North America dominated the market with more than 30.0% share of the global revenue in 2019, as the growing popularity of fruit-fortified beverages among health-conscious consumers in the US is expected to remain a key factor driving the industry. Also, the use of a variety of berries and citrus and tropical fruits has become an upcoming trend among millennials. Besides, demand for these frozen products has been witnessing growth in households as they are used in a wide variety of recipes.