Market Analysis:
It is estimated that the global individually quick-frozen fruits & vegetables market is likely to show significant growth during the forecast period, from 2018 to 2023. IQF fruits & vegetables are currently given much attention with rapid development in the IQF technology.
The global IQF fruits & vegetables market is driven by the increasing demand for convenience food and growing consumption of seasonal fruits & vegetables. Growth in demand for convenience food and extended shelf life of IQF fruits & vegetables fuel the market growth for IQF products. IQF fruits & vegetables are superior in flavor, quality, and nutritional value than conventionally frozen fruits & vegetables. However, the lack of a strong supply chain and distribution network in some of the countries may hamper the growth of the market during the forecast period.
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Top Key Players Trend:
Ardo N.V. (Belgium), BS Foods B.V. (the Netherlands), Capricorn Food Products India Ltd. (India), Rosemary & Thyme Ltd. (UK)., SunOpta Inc. (Canada), Uren Food Group Ltd. (UK), Milne Fruit Products Inc. (US), Frutex Australia Pty Ltd. (Australia), Shimla Hills Offerings Pvt. Ltd. (India), Alasko Foods Inc. (Canada), AXUS International LLC. (US) are some of the key players in the market.
Regional Analysis:
Globally the market has been segmented, by region, into North America, Europe, Asia-Pacific, and Rest of the World. The IQF fruits & vegetables market in North America has further been segmented into the US., Canada, and Mexico.
Geographically, North America is anticipated to dominate the global IQF fruits & vegetables market during the forecast period, owing to the high demand for convenience and natural frozen fruits & vegetables.
Segmentation:
The global IQF market has been segmented into product type, distribution channel, and region.
The market, based on type, has been segmented into IQF fruits & IQF vegetables. Fruits are further classified into berries, mango, apple, kiwi, and others. Among all these segments, berries are expected to dominate the market. Berries include strawberry, raspberry, blueberry, and cranberry. Increasing use seasonal fruits in bakery and beverage industries is expected to support the growth of this segment.
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Moreover, mango is expected to show growth in forecast period due to its high use by preservers and desserts and juice manufacturers. IQF vegetables are further classified into carrots, beans, peas, corn, potato, broccoli, and others. Increasing awareness about the nutritional value of the IQF fruits and vegetables among consumers is further supporting its growth. Moreover, hygienic and aseptic packaging and semi processed products, such as chopped IQF mango, provide convenient use and eliminate hassle of cleaning and chopping fruits and vegetable before use. Demand from food manufacturer for seasonal fruits & vegetable to use in final products will further support demand for IQF fruits & vegetables.
The market has been segmented, by distribution channel into store based and non-store based. The storebased category is further segmented into retail stores, convenience store, supermarkets/hypermarkets. While e-commerce websites come under the non-store-based category. The store based segment is expected show significant growth in forecast period due to strong supply chain distribution network and robust cold chain facilities of supermarket/ hypermarket.
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