The global IQF fruits market was valued at US$ 11.43 Bn in terms of revenue in 2023 and is predicted to grow at a CAGR of 7.4% during the forecast period (2023 to 2030).
IQF fruits are frozen fruit prepared by using individual quick freezing in which it is subjected to blast-freezers for fast freezing. IQF fruits have longer shelf-life than traditional fruits. They have a crucial property that protects them from spoilage from various environmental factors such as heat and light during transportation.
Statistics:
Drivers:
The growing demand for all-natural preserving technology is boosting the global IQF fruits market growth. This is accounted for rising health consciousness among consumers and other preserving techniques such as canning and drying uses an additive to increase the shelf-life of the fruit. However, in IQF only fresh fruits are used as raw materials. Hence, the growing demand for all-natural preserving technology is projected to foster the market growth.
Market Opportunities
Increasing spending by consumers on food service industries, such as restaurants, hotels, bars, cafes, and casinos, is projected to provide potential growth opportunities to the global IQF fruits market. The growing demand for bakery and confectionery is also projected to foster the global IQF fruits market growth. Moreover, growth in e-commerce shopping across developed, as well as developing countries, is again projected to boost the global IQF fruits market growth.
Market Restraints
Lack of frozen food regulatory bodies coupled with the misunderstanding regarding the nutritional value of frozen fruits is expected to hamper the market growth.
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https://www.coherentmarketinsights.com/market-insight/iqf-fruits-market-4102
Key Takeaways:
On the basis of product type, the strawberry segment dominated the global IQF fruits market in 2022 with around 44% of market share in terms of revenue, followed by blueberry and peach respectively.
On the basis of region, North America dominated the global IQF fruits market in 2022 with around 31% of market share in terms of revenue, followed by APEJ and Western Europe respectively.
Market Trends
Go organic is a trend in the market which is fuelling the demand for IQF fruits as they have special certifications is expected to stimulate the market growth of IQF fruits. The growing demand for fresh fruits among health-conscious consumers due to the growing health wellness trend among consumers is also projected to foster the global IQF fruits market growth. An increasing number of small and medium-sized players in the U.S. in cereal bars and breakfast cereals with fruits and flavors market is again anticipated to spur the market growth.
Trend 2
Red tart cherries produced by IQF fruits technology is gaining traction in the market. They are distinguished with the sour-sweet flavor and are available in bright red color. Moreover, they have great taste and also look attractive due to their bright red color. Besides, they have various health benefits such as they improve the metabolism of the body. Thus, the growing popularity of red tart cherries is projected to fuel the global IQF fruits market growth.
Global IQF Fruits Market - Impact of Coronavirus (COVID-19) Pandemic
The increasing demand of packaged and convenience food products in recent times has resulted in the inability to maintain the supply levels. However, the rising demand for IQF fruits owing to the rising use of natural fruits in the food and beverages industry during the coronavirus (COVID-19) pandemic is expected to stabilize the growth of the market after the end of 2020.
Competitive Section:
Company Names
- Nestlé S.A
- Parmalat S.p.A.
- Danone
- Fonterra Co-operative Group Limited
- FrieslandCampina N.V.
- Arla Foods
- Dean Foods
- Saputo, Inc.
- Coca-Cola Company
- PepsiCo, Inc.
- Mondelez International, Inc.
- Hindustan Unilever Limited
- General Mills, Inc.