Subject: MRR

Frozen Okra Market to Reach $1.1 Billion, Globally, by 2032 at 4.6% CAGR: Allied Market Research

The frozen okra market has experienced rapid growth due to increasing consumer demand for convenient, nutritious and versatile food options. With busy lifestyles and growing awareness of associated health benefits, consumers are shifting their preference toward frozen okra as a convenient and time-saving alternative to fresh produce. Moreover, advancements in freezing technology have improved the quality and taste of frozen okra, thereby driving its popularity among consumers.

WILMINGTON, Del., April 10, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Frozen Okra Market by Type (Sliced-cut Okra, Whole Baby Okra, and Others), Processing (Individually Quick Frozen (IQF) and Block Frozen), Sourcing (Conventional and Organic), Application (Food Service Industry, Retail Users, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the frozen okra market was valued at $0.7 billion in 2022, and is estimated to reach $1.1 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.

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Prime determinants of growth

Rise in consumer awareness of the convenience and nutritional benefits of frozen okra, coupled with hectic lifestyles, has driven the demand for quick and easy meal solutions. In addition, advancements in freezing technologies have improved the quality and shelf life of frozen okra, making it comparable to fresh produce. Moreover, expanding distribution channels, including online grocery platforms, have enhanced accessibility to frozen okra products, reaching a wider audience all around the globe. Thus, the global trend toward healthier eating habits has boosted interest in versatile and nutrient-rich vegetables such as okra, fueling the market growth. 

Report coverage & details 

 

The sliced-cut okra segment to maintain its leadership status during the forecast period 

By type, the sliced-cut okra segment held the highest market share in 2022, accounting for more than three-fifths of the global frozen okra market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that sliced-cut okra offers enhanced convenience for consumers, as it eliminates the need for washing, trimming, and cutting, saving time and effort during meal preparation. In addition, it provides consistency in portion sizes, ensuring uniformity in cooking and presentation. This kind of consistency is particularly valued in commercial foodservice settings where efficiency and standardization are essential in nature. 

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The individually quick frozen (IQF) segment to maintain its leadership status during the forecast period 

By processing, the individually quick frozen (IQF) segment held the highest market share in 2022, accounting for more than three-fifths of the global frozen okra market and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that IQF ensures that each piece of okra is frozen individually, preventing them from clumping together. This allows consumers to easily portion out the desired amount without the need to thaw and separate okra, enhancing convenience and reducing food waste. Moreover, the IQF process locks in freshness, flavor, and nutritional value of okra by rapidly freezing each piece. The process of freezing followed preserves the natural color, texture, and taste of the vegetable, providing consumers with a product that closely resembles fresh okra even after freezing. 

The conventional segment to maintain its leadership status during the forecast period 

By sourcing, the conventional segment held the highest market share in 2022, accounting for more than three-fourths of the global frozen okra market and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that conventional farming consistently meets the increasing demand for frozen okra across various regions. In addition, it often yields larger quantities of okra compared to organic methods, allowing for greater economies of scale and competitive pricing in the market. While the organic segment is experiencing growth driven by increasing consumer preferences for pesticide-free and sustainably produced food, the conventional segment holds a significant share of the market owing to the affordability and reliability in meeting market demand. 

The food service industry segment to maintain its leadership status during the forecast period 

By application, the food service industry segment held the highest market share in 2022, accounting for more than three-fifths of the global frozen okra market and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that the food service sector often requires large quantities of ingredients that can be prepared quickly and efficiently to meet the demands of their customers. Frozen okra provides a convenient solution as it eliminates the need for extensive preparation time, allowing restaurants and catering services to streamline their operations while maintaining consistency in their dishes. 

In addition, the food service industry benefits from the versatility of frozen okra, which can be incorporated into a wide range of cuisines and dishes, catering to diverse consumer preferences. Furthermore, the cost-effectiveness of frozen okra compared to fresh alternatives makes it an ideal choice for businesses seeking to maximize their profit margins without compromising on quality. Thus, the convenience, reliability, and versatility of frozen okra align closely with the operational requirements and consumer demands of the food service industry, thus increasing the share of this segment in the frozen okra industry. 

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Europe to maintain its dominance by 2032 

Region wise, Europe held the highest market share in terms of revenue in 2022 and is likely to dominate the market during the forecast period. Frozen okra has gained popularity and is widely consumed in European countries owing to its convenience, versatility, and nutritional benefits. In Europe, where fresh okra may not be readily available year-round, frozen okra offers a convenient solution for consumers seeking to incorporate this nutritious vegetable into their diets. 

In addition, it is widely used in European dishes such as okra stew, ratatouille, curry, Mediterranean salads, and stir-fries, which has its boosted demand in the region. Moreover, it retains its nutritional value and flavor, which makes it a desirable alternative to fresh produce in European countries. 

Leading Market Players 

• Pal Frozen Foods
• United Natural Foods, Inc.
• Grace Food Company Limited
• Xiamen Jooever Co.,Ltd
• Hanover Foods
• The Lebanese Food Emporium
• Givrex
• The Kroger Co.
• Nobar Sabz Agro Industrial Complex
• El Nile Growth Company
• Lean Green

The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting market growth. 

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News published on 10 april 2024 at 10:23 and distributed by: