Individual quick freezing (IQF) is a technology through which fresh fruits and vegetables freeze at very low temperature (-30°C to - 40°C). This process allows to preserve fresh fruits and vegetables for a longer period of time even more than a year sustaining the same colour, flavour, and texture till it lasts. IQF fruits and vegetables are stored at low temperature or in the refrigerator. IQF technology is perfect for preserving seasonal fruits and vegetables. IQF fruits and vegetables contain same nutritional value after freezing as it possesses in a fresh form which is supportive to its growth worldwide. Also, easy storage properties and accessibility at a low price are likely to drive the demand for IQF fruits and vegetables across the globe.
The frozen fruits and vegetables market in the world contributes a meager percentage to the total consumption of fruits and vegetables. In the established markets like Europe and US, frozen vegetables are 10% to the total vegetable consumption. In the underdeveloped and developing markets, its share is much lower. However, in the recent years, this group has expanded reputation due to some basic advantages it offers in comparison to fresh fruits and vegetables. With a strong back up from the scientific innovations, the advantages of frozen fruits and vegetables have made it much more accessible and affordable to the consumers around the globe.
Globally IQF Fruits and Vegetables Market range is around USD 9.43 billion in 2018. It is estimated to grow at a CAGR of 5.34% to increase approximately up to USD 12.23 billion by 2023.
Drivers and restraints:
The drivers which are influencing the growth of the IQF Fruits and Vegetables Market globally is, fast-paced modern lifestyles that have led consumers to look for easy and hygienic fruit products that eliminate the conventional hassles of cleaning and chopping fresh fruits. Other factors include growing inclination towards healthy food, technological advancements in packaging and longer shelf life. Moreover, increasing demand for food manufacturers for preserving food product for a longer period so that they could use it as an ingredient in their final product is also fuelling the demand of IQF fruits and vegetables market during the forecast period.
There is only one restraining factor due to which the market facing challenge, that is slight difficulty in manufacture.
IQF Fruits and Vegetables Market is partitioned globally according to Type, Distribution Channel. With respect to type the market is partitioned into Fruits which include Berries, Bananas, Mango, Apple, Papaya, Pineapple, Kiwi and Others. Vegetables include Carrots, Beans, Peas, Corn, Potato, Broccoli, Cauliflower and Others. with respect to distribution channel, market is partitioned into Retail Outlets, Online Stores and Hypermarkets and based on End Users Hotels/Catering and Food Manufacturers.
Topographically, The IQF Fruits and Vegetables Market has been partitioned into Latin America, Europe, Middle East, North America, and Asia Pacific & Africa. The IQF Fruits and Vegetables Market is dominated by North America in 2016 with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region.
Prominent players in IQF Fruits and Vegetables Market are SunOpta Inc, Fruktana Ltd, Capricorn Food Products India Ltd., Breukers Schamp Foods, Alasko Foods Inc, AXUS International LLC, Rasanco Ltd and Nimeks Organics among others.
Scope of the Report:
The report offers an extensive examination of the business by giving the estimations of market potential and gauges with most extreme granularity. Along this, the variables persuasive in affecting the market flow and patterns are examined in detail at the item level. Further, the execution of the market at the territorial and nation level is evaluated and the prospects with high development potential are distinguished and discussed.
The key players in the business are profiled giving bits of knowledge on their money related execution, advertise position and development techniques. Similar investigation on prime strategical exercises of the market players depicting the key advancements like mergers and acquisitions, coordinated efforts and an assessment of the focused condition inside the business are given. The report additionally offers an expansive standpoint of the market alongside proposals from industry specialists on the open doors for speculation action.
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