Middle East & Africa Frozen Vegetables Market Forecast to 2027 – COVID-19 Impact and Analysis –by Type (Potato, Green Peas, Spinach, Mushrooms, Corn, Mixed Vegetables, Broccoli, Carrot, and Others) and End User (Foodservice and Food Retail)
The frozen vegetables market in Middle East & Africa was valued at US$ 439.60 million in 2019 and is projected to reach US$ 621.84 million by 2027; it is expected to grow at a CAGR of 4.5% from 2019 to 2027. Expansion of quick service restaurants is one of the key factors driving the market growth. The fast-food and quick-service restaurants (QSRs) have now become the need of an hour for the consumers. These restaurants are becoming more and more popular as they provide convenience and mass-produced food items with good taste, as well as they are economical in terms of money and time. Growth of fast food and QSRs is on a rise as they cater to changing consumer preferences. Consumers desire convenience and quick service while dining in such restaurants. QSRs cater to the need of the consumers as they offer to sit and dine along with numerous services such as drive-thru, takeout, and home delivery, which suits the modern lifestyle of the consumers. Frozen vegetables require less preparation time and are easy to use. Use of frozen vegetables helps QSRs provide food quickly to their consumers, which is basically the main strength of a quick-service restaurant. Due to the growth and expansion of these QSRs, frozen vegetables are witnessing increasing demand.
By end user, the Middle East & Africa frozen vegetables market is bifurcated into foodservice and food retail. The food retail segment dominated the market in 2019. However, the foodservice segment is expected to register a higher CAGR during 2020–2027. Frozen vegetables and their different types have been increasingly in demand from fast-food chains, hotels, and quick-service restaurants. These frozen vegetables are now beginning to be accepted commercially on a large scale due to their ease of use and the reduced preparation time.
The COVID-19 outbreak is causing heavy loss in Middle East & Africa economy. Saudi Arabia has recorded the highest COVID-19 positive cases in the region, followed by South Africa and the UAE. The UAE was the first country in Middle East and Africa to report a confirmed case of COVID-19. The shutdown of various plants and factories in the Middle East and Africa has affected the supply chain and negatively affected the manufacturing, delivery schedules, and sales of various goods in the region. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. All these factors are anticipated to affect the food and beverage industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.
The overall Middle East & Africa Frozen Vegetables market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Middle East & Africa frozen vegetables market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Middle East & Africa frozen vegetables market. Conagra Brands Inc.; Goya Foods, Inc.; Bonduelle; Nature’s Garden; and Ardo are among the key players operating in the market.