The forecast for frozen fruit, juice, and vegetable sales in the US for 2023 stood at $12.788 billion. From 2013 to 2023, the market has shown fluctuating growth with both positive and negative year-on-year variations. Notably, there was a -1.04% decline from 2021 to 2022, but the market recovered slightly by 0.91% growth in 2023. The recent CAGR over the last five years until 2023 was modest at 0.96%, reflecting steady but slow growth.
Looking ahead from 2024 to 2028, the market is expected to continue its gradual upward trend, with forecasted sales reaching $13.345 billion by 2028. The anticipated CAGR for this period is 0.65%, indicating a consistent pace of growth.
Future trends to watch for include:
- Continued interest in health and wellness driving demand for frozen fruits and vegetables.
- Innovations in freezing technology and packaging which could enhance product quality and shelf life.
- Sustainability concerns and environmental impacts influencing consumer preferences and brands’ sourcing strategies.
- Potential economic factors and inflation which might affect disposable income and spending on frozen foods.
