Frozen Vegetables Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Frozen Vegetables in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Frozen Vegetables Price Trend for the Second Half of 2023
Frozen vegetables saw consistent oscillations in prices across the globe throughout the second half of the year 2023. In Q3 a rampant rise was seen in the prices as the fresh produce got more and more difficult to afford. Heavy summer months of early Q3 thus witnessed a tremendous rise in frozen vegetable prices. According to the consumer price index the prices went up by approx. 18% over the previous year. A very uneven and unseasonal monsoon this year also hampered massively with the natural crop cycles making the availability of vegetables uncertain.
Frozen Vegetables Price Chart
Please Login or Subscribe to Access the Frozen Vegetables Price Chart Data
As the winter months arrived the prices started to normalize again as the freezing equipment and energy costs started to decrease, thus November and December saw a marginal decline in the frozen vegetable prices. Overall, mixed market sentiments were witnessed.
Analyst insight
According to Procurement Resource, the Frozen Vegetable price trends are expected to rise in the coming months. Since the demands are rising consistently even in Agrarian countries like India, the prices are expected to rise.
Frozen Vegetables Price Trend for the First Half of 2023
Frozen vegetables experienced a surge in prices throughout the first six months of the year 2023. In the American market, California is the biggest supplier of fruits and vegetables, but since the beginning of the year, unprecedented levels of rainfall have kept the supplies hurdled and impacted the agricultural yields, raising the demand and, thereby, the prices for frozen vegetables.
In the Indian markets, as well, uneven and unseasonal rainfall kept the prices surging for frozen vegetables in the first quarter, and then the excessive heat during the summer season in the second quarter pushed the price trends. Fresh tomatoes at one point reached so high that most of the digital selling platforms observed an exponential rise in orders for frozen tomato puree. Overall, the market sentiments were very positive throughout the said period.
Analyst Insight
According to Procurement Resource, Frozen Vegetable price trends are expected to remain inclined as agricultural yields have been severely impacted by various climatic factors amid rising demand and global inflation.
Frozen Vegetables Price Trend for Second Half of 2022
The price of frozen vegetables has increased exponentially in the last two quarters of 2022. A 7.6% increase in sales over 2021 and a 31% increase over the 2019 pre-pandemic sales were registered. The key drivers of the price trend were increased accessibility, value for money, and healthier options introduced in the global market chains. The commodity witnessed a high level of demand as the consumers' needs for healthy substitutes were met. Also, the rise in inventions and changes in dietary requirements and lifestyle led to an upward trajectory in the prices of frozen foods.
The North American region is one of the significant markets of frozen foods and the growth of prices in this region is majorly exponential in demand as the lifestyle choices do not permit the use of traditional materials. The average unit price for frozen products has risen by 15% as compared to the 2021 levels. All these factors helped in achieving the upward trajectory in the prices of frozen vegetables.
Analyst Insight
According to Procurement Resource, the price trend for frozen vegetables are expected to follow an upward trajectory as the demand from the end-user market is rising exponentially.
Frozen Vegetables Price Trend For the First Half of 2022
With the unparalleled rise in fresh vegetable prices, Indian processors are struggling to get frozen vegetables in the market. With the continuing economic and geopolitical conditions, the packaging and freight costs have increased, which has made the prices of frozen vegetables inflate in the peak demand season. With the vegetables and other raw materials available at high prices, the prices of frozen vegetables witnessed a hike of 15-20%.
Pea, a very commonly consumed frozen vegetable, is now available at 20 INR/kg compared to 12 INR/kg in the past year. Demand for frozen vegetables from the export market is good as consumers hoard frozen goods due to the covid-19 lockdown situations persisting in many parts of the world. To cushion their profits, the processors are continuously increasing the prices for frozen vegetables.
Procurement Resource provides latest prices of Frozen Vegetables. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Frozen Vegetables are basically those vegetables that have had their temperature reduced as well as maintained below their freezing point for the purpose of storage and transportation (seldom for far longer than their natural shelf life would permit) until they are ready to be eaten. They may be packaged or frozen at home.
Report Features | Details |
Product Name | Frozen Vegetables |
Industrial Uses | Culinary uses |
Supplier Database | Conagra Brands Inc, B&G Foods, Inc, Greenyard, Kerry Inc. |
Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
Currency | US$ (Data can also be provided in local currency) |
Supplier Database Availability | Yes |
Customization Scope | The report can be customized as per the requirements of the customer |
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
All the vegetables that pass the quality check are frozen within the hours of being picked. Thus, when they are thawed, they are close to fresh in taste and texture. This is a 9-step process.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.
Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.
Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.
Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103
Email: sales@procurementresource.com