In 2023, the frozen vegetables market in Italy stood at approximately 502 million kilograms. The actual data from 2013 to 2023 show a generally declining trend with minor fluctuations in the latter years. Notably, the market experienced significant drops during 2014 to 2018 but showed some recovery in 2019 and 2020, perhaps influenced by the pandemic's push for more home cooking. However, the recovery was short-lived, with another drop in 2021 followed by a slight increase in 2022 and a minor decline in 2023.
Year-on-year variations show considerable volatility, with significant declines in years like 2017 and 2018 but some recovery phases in 2019 and 2020. Over the last two years leading up to 2023, the market experienced a minor decline of 0.68% year-on-year in 2023. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) was relatively stable at 1.31%, indicating slight recovery phases within an overall declining trend.
Looking forward, the forecasted data from 2024 to 2028 indicate continued decline but at a relatively slower pace. The average variation per year over the next five years is projected to be -0.54%. This suggests a gradual but persistent downturn in the market size.
Future trends to watch for include shifting consumer preferences toward fresh and organic produce, increased competition in the fresh vegetable market, and the potential impact of economic factors such as inflation and consumer spending patterns. Additionally, advancements in freezing technology and sustainability practices could influence market dynamics going forward.
