Preserved And Frozen Vegetable Market

The global market for preserved and frozen vegetables is forecasted to see steady growth in both consumption and production over the next eight years. Consumption is expected to increase by +2.8% in volume and +5.4% in value from 2022 to 2030, reaching 11M tons and $16.4B, respectively. The UK, Germany, and Japan are the top consuming countries, while Belgium, the Netherlands, and Canada lead in production. The United States, the UK, and Japan are major importers, while Belgium, the Netherlands, and Canada are major exporters. Prices have been rising steadily, with China having the highest export price and Belgium the lowest.

Market Forecast

Driven by increasing demand for vegetables (preserved, frozen) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market volume to 11M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market value to $16.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Preserved And Frozen Vegetables

Global preserved and frozen vegetable consumption rose modestly to 8.7M tons in 2022, increasing by 2% on the year before. The total consumption volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Global consumption peaked at 8.7M tons in 2019; afterwards, it flattened through to 2022.

The global preserved and frozen vegetable market revenue rose sharply to $10.8B in 2022, growing by 8.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the global market reached the maximum level in 2022 and is expected to retain growth in years to come.

Consumption By Country

The country with the largest volume of preserved and frozen vegetable consumption was the UK (1.3M tons), accounting for 15% of total volume. Moreover, preserved and frozen vegetable consumption in the UK exceeded the figures recorded by the second-largest consumer, Germany (594K tons), twofold. Japan (503K tons) ranked third in terms of total consumption with a 5.8% share.

In the UK, preserved and frozen vegetable consumption increased at an average annual rate of +2.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+3.7% per year) and Japan (+1.2% per year).

In value terms, the largest preserved and frozen vegetable markets worldwide were the UK ($1.6B), Japan ($951M) and Germany ($753M), with a combined 30% share of the global market. The United States, Italy, Brazil, France, Saudi Arabia, Mexico, the Philippines, the Netherlands, Poland and Spain lagged somewhat behind, together accounting for a further 30%.

In terms of the main consuming countries, the United States, with a CAGR of +25.2%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of preserved and frozen vegetable per capita consumption in 2022 were the UK (20 kg per person), the Netherlands (11 kg per person) and Saudi Arabia (9 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the United States (with a CAGR of +22.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Preserved And Frozen Vegetables

In 2022, the amount of vegetables (preserved, frozen) produced worldwide rose slightly to 9M tons, with an increase of 1.7% on the previous year. The total output volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 5.1%. Global production peaked in 2022 and is expected to retain growth in years to come.

In value terms, preserved and frozen vegetable production declined slightly to $6.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 12%. Global production peaked at $7.6B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Belgium (3.1M tons), the Netherlands (1.9M tons) and Canada (1.3M tons), with a combined 70% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Belgium (with a CAGR of +4.2%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Preserved And Frozen Vegetables

In 2022, the amount of vegetables (preserved, frozen) imported worldwide expanded notably to 9.7M tons, growing by 8.5% compared with 2021. The total import volume increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 11%. Global imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, preserved and frozen vegetable imports surged to $12.1B in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.5% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (1.4M tons), followed by the UK (918K tons), France (685K tons) and Japan (505K tons) were the major importers of vegetables (preserved, frozen), together generating 37% of total imports. Germany (419K tons), the Netherlands (395K tons), Brazil (377K tons), Italy (319K tons), Saudi Arabia (272K tons), Belgium (256K tons), Spain (234K tons), Mexico (227K tons) and the Philippines (161K tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +10.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest preserved and frozen vegetable importing markets worldwide were the United States ($1.8B), the UK ($1.1B) and Japan ($963M), with a combined 32% share of global imports. France, Germany, Italy, Brazil, the Netherlands, Mexico, Belgium, Saudi Arabia, Spain and the Philippines lagged somewhat behind, together accounting for a further 32%.

Among the main importing countries, the Philippines, with a CAGR of +15.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average preserved and frozen vegetable import price stood at $1,252 per ton in 2022, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($1,906 per ton), while Saudi Arabia ($955 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Preserved And Frozen Vegetables

In 2022, the amount of vegetables (preserved, frozen) exported worldwide totaled 10M tons, growing by 8% on the previous year's figure. The total export volume increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 13%. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, preserved and frozen vegetable exports soared to $11.9B in 2022. Overall, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +40.7% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Belgium (3.2M tons), distantly followed by the Netherlands (2.1M tons), Canada (1.4M tons), the United States (1M tons) and France (0.5M tons) represented the major exporters of vegetables (preserved, frozen), together committing 81% of total exports. Germany (384K tons) and China (265K tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +7.7%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest preserved and frozen vegetable supplying countries worldwide were Belgium ($3.2B), the Netherlands ($2.3B) and Canada ($1.7B), with a combined 61% share of global exports.

Among the main exporting countries, Belgium, with a CAGR of +8.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average preserved and frozen vegetable export price stood at $1,188 per ton in 2022, picking up by 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($1,893 per ton), while Belgium ($1,005 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform