Processed & Frozen Vegetables - ASEAN

ASEAN

Highlights

Revenue in the Processed & Frozen Vegetables market amounts to US$11.33bn in 2024. The market is expected to grow annually by 6.47% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$58bn in 2024).
In relation to total population figures, per person revenues of US$16.39 are generated in 2024.
In the Processed & Frozen Vegetables market, volume is expected to amount to 6.37bn kg by 2029. The Processed & Frozen Vegetables market is expected to show a volume growth of 4.2% in 2025.0.
The average volume per person in the Processed & Frozen Vegetables market is expected to amount to 7.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Processed & Frozen Vegetables Market in ASEAN is experiencing minimal growth, impacted by factors such as changing consumer preferences and increasing competition. Despite this, the market continues to grow as more people turn to convenient and healthy options in The Food market.

Customer preferences: As consumers become more health-conscious and time-strapped, there is a growing demand for convenient and nutritious food options, leading to a rise in popularity of processed and frozen vegetables. This trend is further fueled by the increasing number of individuals adopting plant-based diets, driven by concerns for the environment and animal welfare. Additionally, the rise of e-commerce has made it easier for consumers to access a wider range of frozen vegetables, including exotic and organic varieties, further driving growth in the market.

Trends in the market: In ASEAN, the Processed & Frozen Vegetables market is seeing an increase in demand due to changing consumer preferences and the adoption of Western eating habits. This trend is expected to continue, with a projected compound annual growth rate of 5.5% from 2020 to 2025. As the region continues to urbanize and modernize, there is a growing demand for convenient and healthy food options, driving the demand for processed and frozen vegetables. Additionally, advancements in cold chain infrastructure and distribution networks are making it easier for industry players to expand their reach and meet this demand. This trend presents significant opportunities for industry stakeholders, but also poses challenges in terms of supply chain management and maintaining product quality. As such, there is a growing emphasis on technology and innovation to improve efficiency and sustainability in the Processed & Frozen Vegetables market.

Local special circumstances: In Vietnam, the Processed & Frozen Vegetables Market is heavily influenced by the country's rich agricultural heritage and strong emphasis on fresh produce. This leads to a high demand for locally sourced and minimally processed vegetables. Additionally, the government's push for food safety regulations has resulted in a growing preference for frozen vegetables, as they are perceived as safer and more hygienic. The market also benefits from the country's strategic location within ASEAN, allowing for easy access to neighboring markets and facilitating trade agreements for processed and frozen vegetables.

Underlying macroeconomic factors: The Processed & Frozen Vegetables Market of the Vegetables Market within The Food market is also impacted by macroeconomic factors such as trade policies, consumer preferences, and government regulations. Countries with open trade policies and a growing demand for convenient and healthy food options are experiencing a higher demand for processed and frozen vegetables. Additionally, government initiatives promoting healthy eating habits and increasing consumer awareness about the benefits of frozen vegetables are also driving market growth. Conversely, regions with trade barriers and high import tariffs are facing challenges in accessing the global market and meeting consumer demand. Furthermore, economic downturns and fluctuations in currency exchange rates can also influence market performance, as consumers may shift to cheaper alternatives or reduce their overall consumption of processed and frozen vegetables.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.