The global frozen fruit market is set to grow at a significant CAGR through 2023, according to a report published by Million Insights, Felton, Calif.
In fact, growth in the frozen fruit market is driven by innovation in packaging, rise in disposable income and the boom in both online and retail spaces. In addition, benefits associated with the consumption of frozen fruits are promoting the brand value for the companies.
Frozen banana and watermelon types hold a higher market share due to increased demands in the North America and Asia-Pacific sector.
North American and European markets are anticipated to rise at a higher pace due to the industrial growth and innovation in packaging. And, the availability of demand and rise of e-commerce continues to propel the market growth in the forecast period.
Asia-Pacific regions are likely to have a higher market share due to change in lifestyle and growing awareness for benefits associated with consumption of fruits.