Frozen Vegetables Market Report, Opportunities by 2031
The frozen vegetables market size is projected to reach US$ 46.05 billion by 2031 from US$ 32.27 billion in 2023. The market is expected to register a CAGR of 4.5% during 2023–2031. The rising preference for healthy eating is one of the rapidly emerging market trends, favoring the growth of the market.
Frozen Vegetables Market Analysis
Frozen vegetables are made by freezing root vegetables, cruciferous vegetables, leafy green vegetables, and others. In food processing, frozen vegetables are used as key ingredients in a wide range of products, from frozen meals and baked goods. In food retail, end users stock shelves with various frozen vegetables to cater to consumer demand for convenient and nutritious options. In food service, end users, such as restaurants and catering companies, rely on frozen vegetables to streamline food preparation, maintain consistent quality, and create diverse menu offerings. The versatility, convenience, and extended shelf life of frozen vegetables make them indispensable to these end users in meeting the needs of their customers and optimizing their operations. Further, the rising demand for organic food products is expected to create a significant opportunity for companies operating in the frozen vegetables market during the forecast period.
Frozen Vegetables Market Overview
Frozen vegetables are a versatile and convenient food option that benefits the foodservice sector. Popular restaurant chains specializing in multiple traditional cuisines, such as McDonald's, Subway, Starbucks, Burger King, Wendy's, and Taco Bell, and international chains operating in North America rely on frozen produce to enhance the flavor and broaden the variety of their dishes. By utilizing frozen ingredients, restaurants can save preparation time, minimize food waste, and maintain consistent quality, especially during peak dining hours.
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Frozen Vegetables Market: Strategic Insights
Market Size Value in US$ 18,182.86 Million in 2019 Market Size Value by US$ 25,381.14 Million by 2027 Growth rate CAGR of 4.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Frozen Vegetables Market: Strategic Insights
| Market Size Value in | US$ 18,182.86 Million in 2019 |
| Market Size Value by | US$ 25,381.14 Million by 2027 |
| Growth rate | CAGR of 4.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Frozen Vegetables Market Drivers and Opportunities
Growing Demand from Foodservice Sector
Restaurants, cafes, hotels, and catering services strive to meet consumer preferences for high-quality ingredients. In such a scenario, frozen vegetables emerge as a practical solution to ensure consistency, convenience, and cost-effectiveness in their operations. In Europe, renowned chains such as Pret A Manger, Wagamama, and Nando's have integrated frozen produce into their menus to maintain standards as well as streamline kitchen operations across numerous locations. Frozen vegetables preserve their freshness and nutritional value. Frozen produce is often picked and flash-frozen at its peak growth, locking in nutrients and flavors. This allows chefs and kitchen staff to access a wide range of frozen vegetables regardless of seasonal limitations, ensuring a consistent supply of ingredients for different food items. Catering services for events, hotels, and institutional food providers also propel the demand for frozen vegetables. Large-scale operations catering to weddings, conferences, and banquets in major regions rely on the convenience and versatility of frozen produce to meet the volume and quality standards expected by their clients. Thus, the growing demand for frozen vegetables from the foodservice sector boosts the market growth.
Upsurge in Demand for Organic Food Products
Consumers are increasingly prioritizing organic food products, including organic frozen vegetables, owing to the growing awareness regarding the adverse impact of conventional farming practices on the environment and rising concerns about pesticide residues in food products. Consumers perceive organic products as healthier, safer, and more environmentally sustainable food options. As a result, manufacturers and retailers are expanding their organic product offerings and investing in sourcing organic ingredients to cater to the growing consumer demand. Consumers are becoming increasingly aware of organic produce's health benefits and are seeking organic options as part of their dietary preferences.
Growing interest in sustainable farming practices and rising support for local farmers who produce organic vegetables are a few factors that impact the demand for organic frozen vegetables across the globe, especially in developed countries. As a result, manufacturers are introducing organic frozen vegetables sourced from certified organic farms to cater to consumers' demand for healthier and environmentally friendly food choices. This indicates a broader global movement toward organic agriculture and sustainable food systems, with consumers increasingly consuming organic options such as frozen organic vegetables. Thus, the rising demand for organic food products is expected to create a significant opportunity for companies operating in the frozen vegetables market during the forecast period.
Frozen Vegetables Market Report Segmentation Analysis
Key segments that contributed to the derivation of the frozen vegetables market analysis are type, category, and end user.
- Based on type, the frozen vegetables market is segmented into corn cob, corn kernels, green peas, baby corn, carrot, cauliflower, green beans, spinach, broccoli, onions, brussel sprouts, mixed vegetables, and others. The mixed vegetable segment accounted for the largest share of the market in 2023.
- In terms of category, the market is bifurcated into organic and conventional. The conventional segment held a larger share of the market in 2023.
- Based on end user, the market is segmented into food processing, food retail, and foodservice. The food retail segment dominated the market in 2023.
Frozen Vegetables Market Share Analysis by Geography
The geographic scope of the frozen vegetables market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Europe held the largest share in 2023, followed by Asia Pacific and North America.
In North America, the latest consumer preference trends exhibit a shift toward healthy and nutritious food options, which has surged the demand for vegan, gluten-free, high-fiber, high-protein, or low-calorie food, as well as frozen vegetables. According to the "2023 Power of Frozen in Retail" by The Food Industry Association and the American Frozen Food Institute, frozen food sales in the US increased by 7.9%, reaching US$ 74.2 billion between July 2022 and July 2023. The report also reveals that the number of online grocery shoppers' share who purchase frozen food through e-commerce channels is rising significantly. The research also revealed that 86% of shoppers who bought groceries online purchased frozen products in 2023.
According to National Restaurant Association (US), the food and beverage sales from the full-service segment (including family-dining, casual-dining, and fine-dining full-service restaurants) grew from US$ 199 billion in 2020 to US$ 289 billion in 2022, while the sales from the limited-service segment (including quick-service restaurants, fast-casual restaurants, and cafeteria) in the US increased from US$ 297 billion in 2020 to US$ 355 billion in 2022. Frozen vegetables are widely purchased by foodservice operators, as these vegetables keep the menu options consistent throughout the year, aids in meeting the demand of the foodservice industry, and minimizes overall food losses. Thus, the growth in the foodservice industry and rising demand for frozen food are a few factors that drive the frozen vegetables market in the region.
Frozen Vegetables Market Report Scope
Frozen Vegetables Market News and Recent Developments
The frozen vegetables market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few developments in the frozen vegetables market are mentioned below:
- McCain Foods completed the acquisition of Irish plant-based frozen food manufacturer Strong Roots. The acquisition follows McCain and Strong Roots' strategic partnership, which began in 2021 and resulted from a US$ 55 million investment. (Source: McCain Foods Ltd, Company Website, April 2024)
- Hanover Foods received a US$ 1 million grant toward an update of the Delaware location's infrastructure and equipment. (Source: Hanover Foods, Press Release, September 2024)
Frozen Vegetables Market Report Coverage and Deliverables
The "Frozen Vegetables Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Frozen vegetables market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Frozen vegetables market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter's Five Forces and SWOT analysis
- Frozen vegetables market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the frozen vegetables market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
General Mills Inc, Bonduelle SA, McCain Foods Ltd, Grupo Virto, La Fe Foods, Alasko Food Inc., Dawtona Frozen, Ardo Foods NV, Seneca Foods Corp, Goya Foods Inc, Mondial Foods BV, Simplot Global Food, Hanover Foods, B&G Foods, and Mother Dairy Fruit & Vegetable Pvt. Ltd are a few of the key players operating in the market.
The market size is projected to reach US$ 46.05 billion by 2031.
Europe accounted for the largest share of the market in 2023.
Rising interest in plant-based diets and increasing demand for frozen vegetables from the foodservice sector are major factors contributing to the growth of the market.
The growing inclination toward a healthy diet is likely to emerge as a key trend in the market in the future.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
3.3 Limitations and Assumptions
4. Frozen Vegetables Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Porter's Five Forces Analysis
4.2.2 Bargaining Power of Suppliers
4.2.3 Bargaining Power of Buyers
4.2.4 Threat of New Entrants
4.2.5 Competitive Rivalry
4.2.6 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Fresh Vegetables Suppliers:
4.3.2 Manufacturers:
4.3.3 Distributors/Suppliers:
4.3.4 End Users:
4.4 List of Vendors in the Value Chain
5. Frozen Vegetables Market – Key Market Dynamics
5.1 Frozen Vegetables Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Preference for Plant-Based Diets
5.2.2 Growing Demand from Foodservice Sector
5.3 Market Restraints
5.3.1 Supply Chain Challenges
5.4 Market Opportunities
5.4.1 Upsurge in Demand for Organic Food Products
5.5 Future Trends
5.5.1 Growing Inclination Toward Healthy Diet
5.6 Impact of Drivers and Restraints:
6. Frozen Vegetables Market – Global Market Analysis
6.1 Frozen Vegetables Market Revenue (US$ Million), 2021–2031
6.2 Frozen Vegetables Market Forecast Analysis
7. Frozen Vegetables Market Analysis – by Type
7.1 Corn Cob
7.1.1 Overview
7.1.2 Corn Cob: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Corn Kernels or Sweet Corn
7.2.1 Overview
7.2.2 Corn Kernels or Sweet Corn: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Green Peas
7.3.1 Overview
7.3.2 Green Peas: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Baby Corn
7.4.1 Overview
7.4.2 Baby Corn: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.5 Carrot
7.5.1 Overview
7.5.2 Carrot: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.6 Cauliflower
7.6.1 Overview
7.6.2 Cauliflower: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.7 Green Beans
7.7.1 Overview
7.7.2 Green Beans: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.8 Spinach
7.8.1 Overview
7.8.2 Spinach: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.9 Broccoli
7.9.1 Overview
7.9.2 Broccoli: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.10 Onions
7.10.1 Overview
7.10.2 Onions: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.11 Brussel Sprouts
7.11.1 Overview
7.11.2 Brussel Sprouts: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.12 Mixed Vegetables
7.12.1 Overview
7.12.2 Mixed Vegetables: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
7.13 Others
7.13.1 Overview
7.13.2 Others: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
8. Frozen Vegetables Market Analysis – by Category
8.1 Organic
8.1.1 Overview
8.1.2 Organic: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Conventional
8.2.1 Overview
8.2.2 Conventional: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
9. Frozen Vegetables Market Analysis – by End User
9.1 Food Processing
9.1.1 Overview
9.1.2 Food Processing: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Food Retail
9.2.1 Overview
9.2.2 Food Retail: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Foodservice
9.3.1 Overview
9.3.2 Foodservice: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10. Frozen Vegetables Market – Geographical Analysis
10.1 Overview
10.2 North America
10.2.1 North America Frozen Vegetables Market Overview
10.2.2 North America: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.2.3 North America: Frozen Vegetables Market Breakdown, by Type
10.2.3.1 North America: Frozen Vegetables Market – Revenue and Forecast Analysis – by Type
10.2.4 North America: Frozen Vegetables Market Breakdown, by Category
10.2.4.1 North America: Frozen Vegetables Market – Revenue and Forecast Analysis – by Category
10.2.5 North America: Frozen Vegetables Market Breakdown, by End User
10.2.5.1 North America: Frozen Vegetables Market – Revenue and Forecast Analysis – by End User
10.2.6 North America: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.2.6.1 North America: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.2.6.2 United States: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.2.1 United States: Frozen Vegetables Market Breakdown, by Type
10.2.6.2.2 United States: Frozen Vegetables Market Breakdown, by Category
10.2.6.2.3 United States: Frozen Vegetables Market Breakdown, by End User
10.2.6.3 Canada: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.3.1 Canada: Frozen Vegetables Market Breakdown, by Type
10.2.6.3.2 Canada: Frozen Vegetables Market Breakdown, by Category
10.2.6.3.3 Canada: Frozen Vegetables Market Breakdown, by End User
10.2.6.4 Mexico: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.4.1 Mexico: Frozen Vegetables Market Breakdown, by Type
10.2.6.4.2 Mexico: Frozen Vegetables Market Breakdown, by Category
10.2.6.4.3 Mexico: Frozen Vegetables Market Breakdown, by End User
10.3 Europe
10.3.1 Europe Frozen Vegetables Market Overview
10.3.2 Europe: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.3.3 Europe: Frozen Vegetables Market Breakdown, by Type
10.3.3.1 Europe: Frozen Vegetables Market – Revenue and Forecast Analysis – by Type
10.3.4 Europe: Frozen Vegetables Market Breakdown, by Category
10.3.4.1 Europe: Frozen Vegetables Market – Revenue and Forecast Analysis – by Category
10.3.5 Europe: Frozen Vegetables Market Breakdown, by End User
10.3.5.1 Europe: Frozen Vegetables Market – Revenue and Forecast Analysis – by End User
10.3.6 Europe: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.3.6.1 Europe: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.3.6.2 Germany: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.2.1 Germany: Frozen Vegetables Market Breakdown, by Type
10.3.6.2.2 Germany: Frozen Vegetables Market Breakdown, by Category
10.3.6.2.3 Germany: Frozen Vegetables Market Breakdown, by End User
10.3.6.3 France: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.3.1 France: Frozen Vegetables Market Breakdown, by Type
10.3.6.3.2 France: Frozen Vegetables Market Breakdown, by Category
10.3.6.3.3 France: Frozen Vegetables Market Breakdown, by End User
10.3.6.4 Italy: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.4.1 Italy: Frozen Vegetables Market Breakdown, by Type
10.3.6.4.2 Italy: Frozen Vegetables Market Breakdown, by Category
10.3.6.4.3 Italy: Frozen Vegetables Market Breakdown, by End User
10.3.6.5 United Kingdom: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.5.1 United Kingdom: Frozen Vegetables Market Breakdown, by Type
10.3.6.5.2 United Kingdom: Frozen Vegetables Market Breakdown, by Category
10.3.6.5.3 United Kingdom: Frozen Vegetables Market Breakdown, by End User
10.3.6.6 Spain: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.6.1 Spain: Frozen Vegetables Market Breakdown, by Type
10.3.6.6.2 Spain: Frozen Vegetables Market Breakdown, by Category
10.3.6.6.3 Spain: Frozen Vegetables Market Breakdown, by End User
10.3.6.7 Rest of Europe: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.7.1 Rest of Europe: Frozen Vegetables Market Breakdown, by Type
10.3.6.7.2 Rest of Europe: Frozen Vegetables Market Breakdown, by Category
10.3.6.7.3 Rest of Europe: Frozen Vegetables Market Breakdown, by End User
10.4 Asia Pacific
10.4.1 Asia Pacific Frozen Vegetables Market Overview
10.4.2 Asia Pacific: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.4.3 Asia Pacific: Frozen Vegetables Market Breakdown, by Type
10.4.3.1 Asia Pacific: Frozen Vegetables Market – Revenue and Forecast Analysis – by Type
10.4.4 Asia Pacific: Frozen Vegetables Market Breakdown, by Category
10.4.4.1 Asia Pacific: Frozen Vegetables Market – Revenue and Forecast Analysis – by Category
10.4.5 Asia Pacific: Frozen Vegetables Market Breakdown, by End User
10.4.5.1 Asia Pacific: Frozen Vegetables Market – Revenue and Forecast Analysis – by End User
10.4.6 Asia Pacific: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.4.6.1 Asia Pacific: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.4.6.2 China: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.2.1 China: Frozen Vegetables Market Breakdown, by Type
10.4.6.2.2 China: Frozen Vegetables Market Breakdown, by Category
10.4.6.2.3 China: Frozen Vegetables Market Breakdown, by End User
10.4.6.3 Japan: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.3.1 Japan: Frozen Vegetables Market Breakdown, by Type
10.4.6.3.2 Japan: Frozen Vegetables Market Breakdown, by Category
10.4.6.3.3 Japan: Frozen Vegetables Market Breakdown, by End User
10.4.6.4 India: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.4.1 India: Frozen Vegetables Market Breakdown, by Type
10.4.6.4.2 India: Frozen Vegetables Market Breakdown, by Category
10.4.6.4.3 India: Frozen Vegetables Market Breakdown, by End User
10.4.6.5 Australia: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.5.1 Australia: Frozen Vegetables Market Breakdown, by Type
10.4.6.5.2 Australia: Frozen Vegetables Market Breakdown, by Category
10.4.6.5.3 Australia: Frozen Vegetables Market Breakdown, by End User
10.4.6.6 South Korea: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.6.1 South Korea: Frozen Vegetables Market Breakdown, by Type
10.4.6.6.2 South Korea: Frozen Vegetables Market Breakdown, by Category
10.4.6.6.3 South Korea: Frozen Vegetables Market Breakdown, by End User
10.4.6.7 Rest of APAC: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.7.1 Rest of APAC: Frozen Vegetables Market Breakdown, by Type
10.4.6.7.2 Rest of APAC: Frozen Vegetables Market Breakdown, by Category
10.4.6.7.3 Rest of APAC: Frozen Vegetables Market Breakdown, by End User
10.5 Middle East and Africa
10.5.1 Middle East and Africa Frozen Vegetables Market Overview
10.5.2 Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.5.3 Middle East and Africa: Frozen Vegetables Market Breakdown, by Type
10.5.3.1 Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast Analysis – by Type
10.5.4 Middle East and Africa: Frozen Vegetables Market Breakdown, by Category
10.5.4.1 Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast Analysis – by Category
10.5.5 Middle East and Africa: Frozen Vegetables Market Breakdown, by End User
10.5.5.1 Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast Analysis – by End User
10.5.6 Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.5.6.1 Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.5.6.2 South Africa: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.2.1 South Africa: Frozen Vegetables Market Breakdown, by Type
10.5.6.2.2 South Africa: Frozen Vegetables Market Breakdown, by Category
10.5.6.2.3 South Africa: Frozen Vegetables Market Breakdown, by End User
10.5.6.3 Saudi Arabia: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.3.1 Saudi Arabia: Frozen Vegetables Market Breakdown, by Type
10.5.6.3.2 Saudi Arabia: Frozen Vegetables Market Breakdown, by Category
10.5.6.3.3 Saudi Arabia: Frozen Vegetables Market Breakdown, by End User
10.5.6.4 United Arab Emirates: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.4.1 United Arab Emirates: Frozen Vegetables Market Breakdown, by Type
10.5.6.4.2 United Arab Emirates: Frozen Vegetables Market Breakdown, by Category
10.5.6.4.3 United Arab Emirates: Frozen Vegetables Market Breakdown, by End User
10.5.6.5 Rest of Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.5.1 Rest of Middle East and Africa: Frozen Vegetables Market Breakdown, by Type
10.5.6.5.2 Rest of Middle East and Africa: Frozen Vegetables Market Breakdown, by Category
10.5.6.5.3 Rest of Middle East and Africa: Frozen Vegetables Market Breakdown, by End User
10.6 South and Central America
10.6.1 South and Central America Frozen Vegetables Market Overview
10.6.2 South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.6.3 South and Central America: Frozen Vegetables Market Breakdown, by Type
10.6.3.1 South and Central America: Frozen Vegetables Market – Revenue and Forecast Analysis – by Type
10.6.4 South and Central America: Frozen Vegetables Market Breakdown, by Category
10.6.4.1 South and Central America: Frozen Vegetables Market – Revenue and Forecast Analysis – by Category
10.6.5 South and Central America: Frozen Vegetables Market Breakdown, by End User
10.6.5.1 South and Central America: Frozen Vegetables Market – Revenue and Forecast Analysis – by End User
10.6.6 South and Central America: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.6.6.1 South and Central America: Frozen Vegetables Market – Revenue and Forecast Analysis – by Country
10.6.6.2 Brazil: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.2.1 Brazil: Frozen Vegetables Market Breakdown, by Type
10.6.6.2.2 Brazil: Frozen Vegetables Market Breakdown, by Category
10.6.6.2.3 Brazil: Frozen Vegetables Market Breakdown, by End User
10.6.6.3 Argentina: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.3.1 Argentina: Frozen Vegetables Market Breakdown, by Type
10.6.6.3.2 Argentina: Frozen Vegetables Market Breakdown, by Category
10.6.6.3.3 Argentina: Frozen Vegetables Market Breakdown, by End User
10.6.6.4 Rest of South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.4.1 Rest of South and Central America: Frozen Vegetables Market Breakdown, by Type
10.6.6.4.2 Rest of South and Central America: Frozen Vegetables Market Breakdown, by Category
10.6.6.4.3 Rest of South and Central America: Frozen Vegetables Market Breakdown, by End User
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Merger and Acquisition
12.3 Other Business Strategies
13. Company Profiles
13.1 General Mills Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Bonduelle SA
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 McCain Foods Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Grupo Virto
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 La Fe Foods
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Alasko Food Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Dawtona Frozen
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Ardo Foods NV
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Seneca Foods Corp
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Goya Foods Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Mondial Foods BV
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
13.12 Simplot Global Food
13.12.1 Key Facts
13.12.2 Business Description
13.12.3 Products and Services
13.12.4 Financial Overview
13.12.5 SWOT Analysis
13.12.6 Key Developments
13.13 Hanover Foods
13.13.1 Key Facts
13.13.2 Business Description
13.13.3 Products and Services
13.13.4 Financial Overview
13.13.5 SWOT Analysis
13.13.6 Key Developments
13.14 B&G Foods
13.14.1 Key Facts
13.14.2 Business Description
13.14.3 Products and Services
13.14.4 Financial Overview
13.14.5 SWOT Analysis
13.14.6 Key Developments
13.15 Mother Dairy Fruit & Vegetable Pvt. Ltd
13.15.1 Key Facts
13.15.2 Business Description
13.15.3 Products and Services
13.15.4 Financial Overview
13.15.5 SWOT Analysis
13.15.6 Key Developments
14. Appendix
14.1 About The Insight Partners
List of Tables
Table 1. Frozen Vegetables Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 5. Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million) – by Category
Table 6. Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 7. North America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 8. North America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 9. North America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 10. North America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 11. United States: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 12. United States: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 13. United States: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 14. Canada: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 15. Canada: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 16. Canada: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 17. Mexico: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 18. Mexico: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 19. Mexico: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 20. Europe: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 21. Europe: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 22. Europe: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 23. Europe: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 24. Germany: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 25. Germany: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 26. Germany: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 27. France: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 28. France: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 29. France: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 30. Italy: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 31. Italy: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 32. Italy: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 33. United Kingdom: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 34. United Kingdom: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 35. United Kingdom: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 36. Spain: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 37. Spain: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 38. Spain: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 39. Rest of Europe: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 40. Rest of Europe: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 41. Rest of Europe: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 42. Asia Pacific: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 43. Asia Pacific: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 44. Asia Pacific: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 45. Asia Pacific: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 46. China: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 47. China: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 48. China: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 49. Japan: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 50. Japan: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 51. Japan: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 52. India: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 53. India: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 54. India: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 55. Australia: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 56. Australia: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 57. Australia: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 58. South Korea: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 59. South Korea: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 60. South Korea: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 61. Rest of APAC: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 62. Rest of APAC: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 63. Rest of APAC: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 64. Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 65. Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 66. Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 67. Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 68. South Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 69. South Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 70. South Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 71. Saudi Arabia: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 72. Saudi Arabia: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 73. Saudi Arabia: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 74. United Arab Emirates: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 75. United Arab Emirates: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 76. United Arab Emirates: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 77. Rest of Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 78. Rest of Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 79. Rest of Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 80. South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 81. South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 82. South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 83. South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 84. Brazil: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 85. Brazil: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 86. Brazil: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 87. Argentina: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 88. Argentina: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 89. Argentina: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
Table 90. Rest of South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Type
Table 91. Rest of South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by Category
Table 92. Rest of South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million) – by End User
List of Figures
Figure 1. Frozen Vegetables Market Segmentation, by Geography
Figure 2. Ecosystem: Frozen Vegetables Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Frozen Vegetables Market Revenue (US$ Million), 2021–2031
Figure 5. Frozen Vegetables Market Share (%) – by Type (2023 and 2031)
Figure 6. Corn Cob: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 7. Corn Kernels or Sweet Corn: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Green Peas: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Baby Corn: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Carrot: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Cauliflower: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Green Beans: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Spinach: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Broccoli: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Onions: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Brussel Sprouts: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Mixed Vegetables: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Others: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. Frozen Vegetables Market Share (%) – by Category (2023 and 2031)
Figure 20. Organic: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Conventional: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Frozen Vegetables Market Share (%) – by End User (2023 and 2031)
Figure 23. Food Processing: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Food Retail: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Foodservice: Frozen Vegetables Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Frozen Vegetables Market Breakdown by Region, 2023 and 2031 (%)
Figure 27. North America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 28. North America: Frozen Vegetables Market Breakdown, by Type (2023 and 2031)
Figure 29. North America: Frozen Vegetables Market Breakdown, by Category (2023 and 2031)
Figure 30. North America: Frozen Vegetables Market Breakdown, by End User (2023 and 2031)
Figure 31. North America: Frozen Vegetables Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 32. United States: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 33. Canada: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 34. Mexico: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 35. Europe: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 36. Europe: Frozen Vegetables Market Breakdown, by Type (2023 and 2031)
Figure 37. Europe: Frozen Vegetables Market Breakdown, by Category (2023 and 2031)
Figure 38. Europe: Frozen Vegetables Market Breakdown, by End User (2023 and 2031)
Figure 39. Europe: Frozen Vegetables Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 40. Germany: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 41. France: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 42. Italy: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 43. United Kingdom: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 44. Spain: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 45. Rest of Europe: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 46. Asia Pacific: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 47. Asia Pacific: Frozen Vegetables Market Breakdown, by Type (2023 and 2031)
Figure 48. Asia Pacific: Frozen Vegetables Market Breakdown, by Category (2023 and 2031)
Figure 49. Asia Pacific: Frozen Vegetables Market Breakdown, by End User (2023 and 2031)
Figure 50. Asia Pacific: Frozen Vegetables Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 51. China: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 52. Japan: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 53. India: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 54. Australia: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 55. South Korea: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 56. Rest of APAC: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 57. Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 58. Middle East and Africa: Frozen Vegetables Market Breakdown, by Type (2023 and 2031)
Figure 59. Middle East and Africa: Frozen Vegetables Market Breakdown, by Category (2023 and 2031)
Figure 60. Middle East and Africa: Frozen Vegetables Market Breakdown, by End User (2023 and 2031)
Figure 61. Middle East and Africa: Frozen Vegetables Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 62. South Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 63. Saudi Arabia: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 64. United Arab Emirates: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 65. Rest of Middle East and Africa: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 66. South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 67. South and Central America: Frozen Vegetables Market Breakdown, by Type (2023 and 2031)
Figure 68. South and Central America: Frozen Vegetables Market Breakdown, by Category (2023 and 2031)
Figure 69. South and Central America: Frozen Vegetables Market Breakdown, by End User (2023 and 2031)
Figure 70. South and Central America: Frozen Vegetables Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 71. Brazil: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 72. Argentina: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 73. Rest of South and Central America: Frozen Vegetables Market – Revenue and Forecast to 2031(US$ Million)
Figure 74. Heat Map Analysis by Key Players
Figure 75. Company Positioning & Concentration
The List of Companies - Frozen Vegetables Market
- General Mills Inc
- Bonduelle SA
- McCain Foods Ltd
- Grupo Virto
- La Fe Foods
- Alasko Food Inc.
- Dawtona Frozen
- Ardo Foods NV
- Seneca Foods Corp
- Goya Foods Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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