Individual quick freezing (IQF) is a technology through which fresh fruits and vegetables are frozen at very low temperature (-30°C to – 40°C). This process enables the preservation of fresh fruits and vegetables for longer periods of time, maintaining the same color, flavor and texture. IQF fruits and vegetables comprise the same nutritional value after freezing as they possess in fresh form, which is supporting the growth of the technology worldwide. Also, easy storage properties and availability at low price is expected to drive the demand of IQF fruits and vegetables across the globe.
IQF Fruits and Vegetables Market Segmentation
IQF fruits and vegetables are segmented on the basis of types which includes IQF fruits and IQF vegetables. IQF fruits are further sub-segmented into berries, banana, mango, apple, papaya, pineapple, kiwi and others (guava and pomegranate). Among all these sub-segments berries are expected to be the highest in terms of revenue contribution. Berries are further categorized as strawberry, raspberry, blueberry and cranberry. Extensive usage of frozen berries in food industries such as in bakery products, desserts and others is expected to support its growth during the forecast period. Moreover, mango is expected to account for healthy growth due to its high usage by dessert and juice manufactures. IQF vegetables are further sub-segmented as carrot, beans, peas, corn, potato, broccoli, cauliflower and others (tomato, brinjal and cabbage). Of all these sub-segments peas are expected to be dominant in terms of revenue contribution followed by carrot and beans during the forecast period.
IQF fruits and vegetables are further segmented on the basis of distribution channel, which includes retail outlets, online stores and hypermarket/supermarket. Among all the segments hypermarket/supermarket is expected to occupy the dominant position of the pie in terms of market share followed by retail outlets. Increased consumption of seasonal frozen fruits and vegetables by the end consumer is expected to support the growth of IQF fruits and vegetables through retail outlets. The major end-users of IQF fruits and vegetables are hotel/restaurant/catering and food manufacturers. Among all these end-user segments, food manufacturers are expected to be dominant contributors in terms of revenue in the IQF fruit and vegetable market during the forecast period. Increased usage of frozen fruits and vegetables primarily in desserts such as ice-cream, smoothies and also in juices is expected to support the demand of IQF fruits and vegetables market through food manufacturers.
Globally among all the regions North America is expected to account for the major market for IQF fruits and vegetables. The U.S. is expected to be the major revenue contributor in the IQF fruits and vegetables market followed by Canada. Increased usage of exotic fruits is expected to be the major factor driving the growth of IQF fruits and vegetables in North America region during the forecast period (2015-2025). Moreover, Asia Pacific is expected to account for the double digit CAGR during the forecast period. This growth is attributed to the increased disposable income and rising preferences of the consumer for more packaged and convenience food product across the region.
