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2022
Iqf Fruits Market

IQF Fruits Market

by Fruit (Berries, Peach, Prune, Bananas, Pineapple, Mangoes, Oranges, Others), by End Use Industry (Food Industry, Retail, HoReCa), by Sales Channel (Direct Sales, Indirect Sales): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A16883
Pages: 334
Oct 2022 | 517 Views
Author(s) : Anil K , Roshan D
Tables: 223
Charts: 69
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The global IQF fruits market was valued at $6.2 billion in 2021 and is projected to reach $11.8 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.

IQF fruits are those that have been processed using IQF technology, which involves sending individual fruits to blast freezers for quick freezing in order to extend the fruits' shelf life and preserve them for a longer period of time. With the use of this technique, fruit can be preserved without losing its natural taste or texture.

In the food and beverage industry, the shelf life of food goods is a crucial factor in determining consumer purchase decisions. Consumers are interested in the taste, quality, and cleanliness of the food goods they buy. The IQF technology is frequently used in the food and beverage sector to preserve food products and stop them from losing taste and quality before being consumed. In addition, the requirement for fruit preservation is crucial. To prevent denaturing or spoilage before consumption, these foods must be stored or preserved in a low-temperature environment. The benefits of not having frozen fruits bunch together, especially pulpy fruits, are anticipated to boost the market growth of IQF fruits. Thus, increasing demand for food including fruits with a longer shelf life is fueling the market growth of the IQF fruits market.

Consumer spending on luxury food items is growing rapidly, and fast foods, bakery products, ice creams, and other such lifestyle food products are witnessing increased popularity. IQF fruits are increasingly used in the bakery & confectionary and dairy industries. The demand for high-end frozen bakery products such as cakes and pastries has increased on account of innovative products launched by various players. Furthermore, cooked and semi-cooked frozen food sales are increasing in developing economies such as India and China on account of busy consumer lifestyles, which significantly contributes toward the growth of the global market.

Inappropriate storage and transport facilities in small retail stores are a major challenge for the industry in developing economies. IQF fruit products require proper deep freezing and storage facilities. In addition, rural areas in developing markets such as India and China face storage, refrigeration, and electricity issues, which is a key challenge for major frozen food players. Furthermore, the lack of transport facilities makes the distribution of household IQF fruits. Thus, all these factors together limit the growth of the global IQF fruit market size.

Global logistics and transportation have been significantly impacted, which has affected the movement of IQF fruits, which has hampered the growth of the IQF fruits market in 2020. Trade restrictions imposed by numerous nations around the world to encompass the COVID-19 outbreak have had a significant impact on these sectors.

IQF Fruits Market

According to the IQF fruits market analysis, the IQF fruits market is segmented into fruit, end-use industry, sales channel, and region. By fruit, it is segregated into berries, peaches, prunes, bananas, pineapple, mangoes, oranges, and others. On the basis of the end-use industry, the market is categorized into the food industry, retail, and HoReCa. Furthermore, the food industry is bifurcated into bakery and confectionary, dairy, fruit-based beverages, and breakfast cereals. By sales channel, the market is segmented into direct sales and indirect Sales. Direct sales are further sub-segmented into hypermarkets and supermarkets, convenience stores, specialty retail stores, and online retailers. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, Italy, UK, France, Spain, Russia, and the Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Argentina and Rest Of LAMEA).

On the basis of fruit, the peach segment was the significant contributor to the market and is expected to reach $1,441.6 million by 2031, at a CAGR of 7.3% during the forecast period. The rising awareness regarding the health benefits of IQF peach is fueling the growth of the market. The IQF Peach Halves are a healthy source of dietary fiber. The Vitamin-C in IQF Peach Halves helps in maintaining healthy skin. The antioxidants in the fruit are proven to improve skin texture, build collagen, and prevent sagging. Thus, such factors are attracting more consumers globally.

IQF Fruits Market
By Fruit

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Berries has gained major popularity as IQF fruit. The prune and mangoes segments are expected to witness considerable CAGRs of 8.9% and 8.0%, respectively, during the forecast period.

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According to the IQF fruits market analysis, on the basis of the end-user industry, the food industry segment was the significant contributor to the market and is estimated to reach $2,109.9 million by 2031, at a CAGR of 5.3% during the forecast period. The demand for bakery and confectionary food is increasing every day owing to the changing lifestyles, growing population, and economic improvements. Growing urbanization and increasing demand for ready-to-eat or fast food are expected to surge sales of bakery & cereals products. Fortification of bakery and confectionary products with IQF fruits is further supplementing the IQF fruits market growth.

IQF Fruits Market
By End Use Industry

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The food industry and horeca segments collectively accounted for around 83.6% market share in 2021, with the former constituting around 49.5% share.

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According to the IQF fruits market trends, based on sales channels, the specialty retail stores segment was the significant contributor to the market and is estimated to reach $445.8 million by 2031, at a CAGR of 7.9% during the forecast period. Shopping has become a part of the daily routine among consumers, as they usually prefer to analyze and evaluate the product before purchase, thereby boosting the retail sales of food & beverages including IQF fruits through specialty stores. Specialty stores provide high service quality and detailed product specification & expert guidance to the consumers, which boost the sale of these products. Moreover, these stores promote the sales of international as well as private-label brands in their stores.

IQF Fruits Market
By Sales Channel

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The direct sales segment was the highest revenue contributor and is expected to grow at a CAGR of 6.5%.

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According to the IQF fruits market opportunities, region-wise, Europe garnered the second-highest IQF fruits market share in 2021 and is expected to maintain its market share throughout the IQF fruits market forecast period. The large spending capabilities of consumers and economic stability are some of the major reasons for the growth of the frozen food market in the European region. The busy lifestyle of consumers leads to increase demand for convenience food is another factor driving the market growth. The frozen ready-to-eat healthy breakfast segment has gained popularity in recent years, owing to a rise in health-conscious consumers in the region. Europe has been one of the most lucrative markets for frozen food including IQF fruits, owing to the fact that it is home to numerous food and bakery giants.

IQF Fruits Market
By Region

2031
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific and Europe are expected to witness considerable CAGRs of 8.3% and 7.2%, respectively, during the forecast period. . North America was the highest revenue contributor and is expected to grow at CAGR of 5.7%.

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The major players operating in the IQF fruits industry focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. Some of the key players in the IQF fruits industry include AGRANA, Alasko Food Inc, AXUS International, LLC., Bsfoods, Capricorn Food Products India Ltd, Danone SA, Himgiri Group, RDM International, SunLeaf, and SunOpta.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the IQF fruits market analysis from 2021 to 2031 to identify the prevailing IQF fruits market opportunities.
  • Market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • An in-depth analysis of the IQF fruits market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes an analysis of the regional as well as global IQF fruits market trends, key players, market segments, application areas, and market growth strategies.

IQF Fruits Market Report Highlights

Aspects Details
Market Size By 2031 USD 11.8 billion
Growth Rate CAGR of 6.8%
Forecast period 2021 - 2031
Report Pages 334
Fruit
  • Berries
  • Peach
  • Prune
  • Bananas
  • Pineapple
  • Mangoes
  • Oranges
  • Others
End Use Industry
  • Food Industry
    • Sub type
      • Bakery and Confectionary
      • Dairy
      • Fruit based Beverages
      • Breakfast Cereals
  • Retail
  • HoReCa
Sales Channel
  • Direct Sales
  • Indirect Sales
    • Sub Sales Channel
      • Hypermarkets and Supermarkets
      • Convenience Stores
      • Specialty Retail Stores
      • Online Retailers
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, Italy, UK, France, Spain, Russia, Rest Of Europe)
  • Asia-Pacific  (Rest Of Asia-Pacific, China, India, Japan, Australia, South Korea)
  • LAMEA  (Brazil, South Africa, Argentina, Rest Of LAMEA)
Key Market Players AGRANA, Alasko Food Inc, AXUS International, LLC., Bsfoods, Capricorn Food Products India Ltd, Danone SA, Himgiri Group, RDM International, SunLeaf, SunOpta
 

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According to the insights of the CXOs, the IQF fruit market is expected to witness robust growth during the forecast period. The IQF fruit market has expanded as a result of the increase in demand for food with a longer shelf life. In the food and beverage industry, the shelf life of food goods is a crucial factor in determining consumer purchase decisions. Consumers are interested in the taste, quality, and cleanliness of the food goods they buy. The demand for convenience food has grown as modern consumers lead hectic lives.

CXOs further added the main factors influencing the market for individual quick freeze (IQF) fruits are consumers' increased preference for frozen goods. Frozen fruits and vegetables can be used all year round even if they are only available during their particular seasons. However, the high costs of freezing equipment and the lack of proper infrastructure restrain the growth of the IQF fruit market.

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FREQUENTLY ASKED QUESTIONS?

A. The global IQF fruits market size was valued at $6,235.3 million in 2021, and is estimated to reach $11,776.1 million by 2031.

A. 6.8% is the CAGR of IQF fruits market.

A. You can request sample from the website (www.alliedmarketresearch.com) or you can call our sales representative on U.S. - Canada toll free - +1-800-792-5285, Int'l : +1-503-894-6022 and for Europe region + 44-845-528-1300.

A. 2021 is the base year calculated in the IQF fruits market report.

A. AGRANA, Alasko Food Inc, AXUS International, LLC., Bsfoods, Capricorn Food Products India Ltd are some of the top companies in the IQF fruits market report.

A. The IQF fruits market is segmented into fruit, end user industry, sales channel and region.

A. Growing demand convenience food and advancement in IQF technology are some of the key factors shaping the growth of the IQF fruits market.

A. North America region holds the maximum market share of the IQF fruits market.

A. Outbreak of COVID-19 was negatively impacted the growth of the IQF fruits market.

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