The IQF fruits market size was valued at $6,235.3 million in 2021, and is expected to reach $11,776.1 million by 2031, registering a CAGR of 6.8% from 2022 to 2031. The report presents a comprehensive analysis of current and future trends of the global frozen food market along with forecasts to help businesses and stakeholders develop a better understanding of the market.
IQF (individually fast freezing) is a non-thermal and chemical-free method of food preservation. The use of IQF for food preservation has a number of advantages. It has various advantages, some of which include extending shelf life and maintaining the flavor & quality of food goods. IQF fruits are fruits that have been processed using the IQF method technology, in which each fruit is transferred to a blast freezer for quick freezing to extend its shelf life and preserve it for a longer period of time. The fruit is preserved using this approach without affecting its composition or flavor. Many non-thermal preservation methods exist, however, the individual fast freezing (IQF) method is the most effective one.
Any food product's shelf life is important in the food and beverage sector. The quality and flavor of the food products that consumers eat are important considerations. The IQF technology is frequently used in the food and beverage sector to preserve food products in order to keep them from losing their flavors and quality before being consumed. Additionally, it is crucial to preserve fruits. To avoid denaturing or spoilage before consumption, these food items must be kept in a low-temperature environment during storage or preservation. Thus, increasing demand for food with longer shelf-life is driving the market growth for the IQF fruits market.
In terms of market income and volume, North America is anticipated to be the region with the largest market for IQF fruits and vegetables worldwide during the forecast period. The U. S. is anticipated to provide the most lucrative business for IQF fruits, followed by Canada. According to projections, the main driver of the industry's expansion in North America would be rise in demand for juice made from exotic fruits. A double-digit CAGR is also anticipated for the Asia-Pacific throughout the projected period as a result of increased consumer disposable income and escalating demand for packaged foods & convenience foods.
The development of the global market for individual quick freeze (IQF) fruits may be seriously threatened by the high costs associated with purchasing freezing equipment. Another significant factor that is anticipated to hinder the growth of the fruit market during the projected period is the fact that frozen foods often contain preservatives that are harmful to the human health. Thus, such factors restrain the market growth.
The IQF fruits market is segmented on the basis of fruit, end use industry, sales channel, and region. By fruit, it is segregated into berries, peach, prune, bananas, pineapple, mangoes, oranges, and others. On the basis of end use industry, the market is categorized food industry, retail, and HoReCa. The food industry segment is further classified into bakery & confectionary, dairy, fruit-based beverages, and breakfast cereals. By sales channel, it is bifurcated into direct sales and indirect sales. The indirect sales segment is further fragmented into hypermarkets & 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 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).
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. Some of the key players in the IQF Fruits market industry include AGRANA, Alasko Food Inc, AXUS International, LLC., Bsfoods, Capricorn Food Products India Ltd, Danone SA, Himgiri Group, RDM International, SunLeaf, and SunOpta.
IQF (individually fast freezing) is a non-thermal and chemical-free method of food preservation. The use of IQF for food preservation has a number of advantages. It has various advantages, some of which include extending shelf life and maintaining the flavor & quality of food goods. IQF fruits are fruits that have been processed using the IQF method technology, in which each fruit is transferred to a blast freezer for quick freezing to extend its shelf life and preserve it for a longer period of time. The fruit is preserved using this approach without affecting its composition or flavor. Many non-thermal preservation methods exist, however, the individual fast freezing (IQF) method is the most effective one.
Any food product's shelf life is important in the food and beverage sector. The quality and flavor of the food products that consumers eat are important considerations. The IQF technology is frequently used in the food and beverage sector to preserve food products in order to keep them from losing their flavors and quality before being consumed. Additionally, it is crucial to preserve fruits. To avoid denaturing or spoilage before consumption, these food items must be kept in a low-temperature environment during storage or preservation. Thus, increasing demand for food with longer shelf-life is driving the market growth for the IQF fruits market.
In terms of market income and volume, North America is anticipated to be the region with the largest market for IQF fruits and vegetables worldwide during the forecast period. The U. S. is anticipated to provide the most lucrative business for IQF fruits, followed by Canada. According to projections, the main driver of the industry's expansion in North America would be rise in demand for juice made from exotic fruits. A double-digit CAGR is also anticipated for the Asia-Pacific throughout the projected period as a result of increased consumer disposable income and escalating demand for packaged foods & convenience foods.
The development of the global market for individual quick freeze (IQF) fruits may be seriously threatened by the high costs associated with purchasing freezing equipment. Another significant factor that is anticipated to hinder the growth of the fruit market during the projected period is the fact that frozen foods often contain preservatives that are harmful to the human health. Thus, such factors restrain the market growth.
The IQF fruits market is segmented on the basis of fruit, end use industry, sales channel, and region. By fruit, it is segregated into berries, peach, prune, bananas, pineapple, mangoes, oranges, and others. On the basis of end use industry, the market is categorized food industry, retail, and HoReCa. The food industry segment is further classified into bakery & confectionary, dairy, fruit-based beverages, and breakfast cereals. By sales channel, it is bifurcated into direct sales and indirect sales. The indirect sales segment is further fragmented into hypermarkets & 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 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).
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. Some of the key players in the IQF Fruits market 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.
- The 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 make profit-oriented business decisions and strengthen their supplier-buyer network.
- 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 the analysis of the regional as well as global iqf fruits market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Fruit
- Berries
- Peach
- Prune
- Bananas
- Pineapple
- Mangoes
- Oranges
- Others
By End Use Industry
- Food Industry
- Sub type
- Bakery and Confectionary
- Dairy
- Fruit based Beverages
- Breakfast Cereals
- Retail
- HoReCa
By 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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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: IQF FRUITS MARKET, BY FRUIT
4.1 Overview
4.1.1 Market size and forecast
4.2 Berries
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Peach
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Prune
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Bananas
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
4.6 Pineapple
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market analysis by country
4.7 Mangoes
4.7.1 Key market trends, growth factors and opportunities
4.7.2 Market size and forecast, by region
4.7.3 Market analysis by country
4.8 Oranges
4.8.1 Key market trends, growth factors and opportunities
4.8.2 Market size and forecast, by region
4.8.3 Market analysis by country
4.9 Others
4.9.1 Key market trends, growth factors and opportunities
4.9.2 Market size and forecast, by region
4.9.3 Market analysis by country
CHAPTER 5: IQF FRUITS MARKET, BY END USE INDUSTRY
5.1 Overview
5.1.1 Market size and forecast
5.2 Food Industry
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.2.4 Food Industry IQF Fruits Market by Sub type
5.2.4.1 Bakery and Confectionary Market size and forecast, by region
5.2.4.2 Bakery and Confectionary Market size and forecast, by country
5.2.4.3 Dairy Market size and forecast, by region
5.2.4.4 Dairy Market size and forecast, by country
5.2.4.5 Fruit based Beverages Market size and forecast, by region
5.2.4.6 Fruit based Beverages Market size and forecast, by country
5.2.4.7 Breakfast Cereals Market size and forecast, by region
5.2.4.8 Breakfast Cereals Market size and forecast, by country
5.3 Retail
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 HoReCa
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
CHAPTER 6: IQF FRUITS MARKET, BY SALES CHANNEL
6.1 Overview
6.1.1 Market size and forecast
6.2 Direct Sales
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Indirect Sales
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
6.3.4 Indirect Sales IQF Fruits Market by Sub Sales Channel
6.3.4.1 Hypermarkets and Supermarkets Market size and forecast, by region
6.3.4.2 Hypermarkets and Supermarkets Market size and forecast, by country
6.3.4.3 Convenience Stores Market size and forecast, by region
6.3.4.4 Convenience Stores Market size and forecast, by country
6.3.4.5 Specialty Retail Stores Market size and forecast, by region
6.3.4.6 Specialty Retail Stores Market size and forecast, by country
6.3.4.7 Online Retailers Market size and forecast, by region
6.3.4.8 Online Retailers Market size and forecast, by country
CHAPTER 7: IQF FRUITS MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Fruit
7.2.3 North America Market size and forecast, by End Use Industry
7.2.3.1 North America Food Industry IQF Fruits Market by Sub type
7.2.4 North America Market size and forecast, by Sales Channel
7.2.4.1 North America Indirect Sales IQF Fruits Market by Sub Sales Channel
7.2.5 North America Market size and forecast, by country
7.2.5.1 U. S.
7.2.5.1.1 Market size and forecast, by Fruit
7.2.5.1.2 Market size and forecast, by End Use Industry
7.2.5.1.2.1 U. S. Food Industry IQF Fruits Market by Sub type
7.2.5.1.3 Market size and forecast, by Sales Channel
7.2.5.1.3.1 U. S. Indirect Sales IQF Fruits Market by Sub Sales Channel
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Fruit
7.2.5.2.2 Market size and forecast, by End Use Industry
7.2.5.2.2.1 Canada Food Industry IQF Fruits Market by Sub type
7.2.5.2.3 Market size and forecast, by Sales Channel
7.2.5.2.3.1 Canada Indirect Sales IQF Fruits Market by Sub Sales Channel
7.2.5.3 Mexico
7.2.5.3.1 Market size and forecast, by Fruit
7.2.5.3.2 Market size and forecast, by End Use Industry
7.2.5.3.2.1 Mexico Food Industry IQF Fruits Market by Sub type
7.2.5.3.3 Market size and forecast, by Sales Channel
7.2.5.3.3.1 Mexico Indirect Sales IQF Fruits Market by Sub Sales Channel
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Fruit
7.3.3 Europe Market size and forecast, by End Use Industry
7.3.3.1 Europe Food Industry IQF Fruits Market by Sub type
7.3.4 Europe Market size and forecast, by Sales Channel
7.3.4.1 Europe Indirect Sales IQF Fruits Market by Sub Sales Channel
7.3.5 Europe Market size and forecast, by country
7.3.5.1 Germany
7.3.5.1.1 Market size and forecast, by Fruit
7.3.5.1.2 Market size and forecast, by End Use Industry
7.3.5.1.2.1 Germany Food Industry IQF Fruits Market by Sub type
7.3.5.1.3 Market size and forecast, by Sales Channel
7.3.5.1.3.1 Germany Indirect Sales IQF Fruits Market by Sub Sales Channel
7.3.5.2 Italy
7.3.5.2.1 Market size and forecast, by Fruit
7.3.5.2.2 Market size and forecast, by End Use Industry
7.3.5.2.2.1 Italy Food Industry IQF Fruits Market by Sub type
7.3.5.2.3 Market size and forecast, by Sales Channel
7.3.5.2.3.1 Italy Indirect Sales IQF Fruits Market by Sub Sales Channel
7.3.5.3 UK
7.3.5.3.1 Market size and forecast, by Fruit
7.3.5.3.2 Market size and forecast, by End Use Industry
7.3.5.3.2.1 UK Food Industry IQF Fruits Market by Sub type
7.3.5.3.3 Market size and forecast, by Sales Channel
7.3.5.3.3.1 UK Indirect Sales IQF Fruits Market by Sub Sales Channel
7.3.5.4 France
7.3.5.4.1 Market size and forecast, by Fruit
7.3.5.4.2 Market size and forecast, by End Use Industry
7.3.5.4.2.1 France Food Industry IQF Fruits Market by Sub type
7.3.5.4.3 Market size and forecast, by Sales Channel
7.3.5.4.3.1 France Indirect Sales IQF Fruits Market by Sub Sales Channel
7.3.5.5 Spain
7.3.5.5.1 Market size and forecast, by Fruit
7.3.5.5.2 Market size and forecast, by End Use Industry
7.3.5.5.2.1 Spain Food Industry IQF Fruits Market by Sub type
7.3.5.5.3 Market size and forecast, by Sales Channel
7.3.5.5.3.1 Spain Indirect Sales IQF Fruits Market by Sub Sales Channel
7.3.5.6 Russia
7.3.5.6.1 Market size and forecast, by Fruit
7.3.5.6.2 Market size and forecast, by End Use Industry
7.3.5.6.2.1 Russia Food Industry IQF Fruits Market by Sub type
7.3.5.6.3 Market size and forecast, by Sales Channel
7.3.5.6.3.1 Russia Indirect Sales IQF Fruits Market by Sub Sales Channel
7.3.5.7 Rest of Europe
7.3.5.7.1 Market size and forecast, by Fruit
7.3.5.7.2 Market size and forecast, by End Use Industry
7.3.5.7.2.1 Rest of Europe Food Industry IQF Fruits Market by Sub type
7.3.5.7.3 Market size and forecast, by Sales Channel
7.3.5.7.3.1 Rest of Europe Indirect Sales IQF Fruits Market by Sub Sales Channel
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Fruit
7.4.3 Asia-Pacific Market size and forecast, by End Use Industry
7.4.3.1 Asia-Pacific Food Industry IQF Fruits Market by Sub type
7.4.4 Asia-Pacific Market size and forecast, by Sales Channel
7.4.4.1 Asia-Pacific Indirect Sales IQF Fruits Market by Sub Sales Channel
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Market size and forecast, by Fruit
7.4.5.1.2 Market size and forecast, by End Use Industry
7.4.5.1.2.1 China Food Industry IQF Fruits Market by Sub type
7.4.5.1.3 Market size and forecast, by Sales Channel
7.4.5.1.3.1 China Indirect Sales IQF Fruits Market by Sub Sales Channel
7.4.5.2 India
7.4.5.2.1 Market size and forecast, by Fruit
7.4.5.2.2 Market size and forecast, by End Use Industry
7.4.5.2.2.1 India Food Industry IQF Fruits Market by Sub type
7.4.5.2.3 Market size and forecast, by Sales Channel
7.4.5.2.3.1 India Indirect Sales IQF Fruits Market by Sub Sales Channel
7.4.5.3 Japan
7.4.5.3.1 Market size and forecast, by Fruit
7.4.5.3.2 Market size and forecast, by End Use Industry
7.4.5.3.2.1 Japan Food Industry IQF Fruits Market by Sub type
7.4.5.3.3 Market size and forecast, by Sales Channel
7.4.5.3.3.1 Japan Indirect Sales IQF Fruits Market by Sub Sales Channel
7.4.5.4 Australia
7.4.5.4.1 Market size and forecast, by Fruit
7.4.5.4.2 Market size and forecast, by End Use Industry
7.4.5.4.2.1 Australia Food Industry IQF Fruits Market by Sub type
7.4.5.4.3 Market size and forecast, by Sales Channel
7.4.5.4.3.1 Australia Indirect Sales IQF Fruits Market by Sub Sales Channel
7.4.5.5 South Korea
7.4.5.5.1 Market size and forecast, by Fruit
7.4.5.5.2 Market size and forecast, by End Use Industry
7.4.5.5.2.1 South Korea Food Industry IQF Fruits Market by Sub type
7.4.5.5.3 Market size and forecast, by Sales Channel
7.4.5.5.3.1 South Korea Indirect Sales IQF Fruits Market by Sub Sales Channel
7.4.5.6 Rest of Asia-Pacific
7.4.5.6.1 Market size and forecast, by Fruit
7.4.5.6.2 Market size and forecast, by End Use Industry
7.4.5.6.2.1 Rest of Asia-Pacific Food Industry IQF Fruits Market by Sub type
7.4.5.6.3 Market size and forecast, by Sales Channel
7.4.5.6.3.1 Rest of Asia-Pacific Indirect Sales IQF Fruits Market by Sub Sales Channel
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Fruit
7.5.3 LAMEA Market size and forecast, by End Use Industry
7.5.3.1 LAMEA Food Industry IQF Fruits Market by Sub type
7.5.4 LAMEA Market size and forecast, by Sales Channel
7.5.4.1 LAMEA Indirect Sales IQF Fruits Market by Sub Sales Channel
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Brazil
7.5.5.1.1 Market size and forecast, by Fruit
7.5.5.1.2 Market size and forecast, by End Use Industry
7.5.5.1.2.1 Brazil Food Industry IQF Fruits Market by Sub type
7.5.5.1.3 Market size and forecast, by Sales Channel
7.5.5.1.3.1 Brazil Indirect Sales IQF Fruits Market by Sub Sales Channel
7.5.5.2 South Africa
7.5.5.2.1 Market size and forecast, by Fruit
7.5.5.2.2 Market size and forecast, by End Use Industry
7.5.5.2.2.1 South Africa Food Industry IQF Fruits Market by Sub type
7.5.5.2.3 Market size and forecast, by Sales Channel
7.5.5.2.3.1 South Africa Indirect Sales IQF Fruits Market by Sub Sales Channel
7.5.5.3 Argentina
7.5.5.3.1 Market size and forecast, by Fruit
7.5.5.3.2 Market size and forecast, by End Use Industry
7.5.5.3.2.1 Argentina Food Industry IQF Fruits Market by Sub type
7.5.5.3.3 Market size and forecast, by Sales Channel
7.5.5.3.3.1 Argentina Indirect Sales IQF Fruits Market by Sub Sales Channel
7.5.5.4 Rest of LAMEA
7.5.5.4.1 Market size and forecast, by Fruit
7.5.5.4.2 Market size and forecast, by End Use Industry
7.5.5.4.2.1 Rest of LAMEA Food Industry IQF Fruits Market by Sub type
7.5.5.4.3 Market size and forecast, by Sales Channel
7.5.5.4.3.1 Rest of LAMEA Indirect Sales IQF Fruits Market by Sub Sales Channel
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 AGRANA
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 Alasko Food Inc
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 AXUS International, LLC.
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 Bsfoods
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 Capricorn Food Products India Ltd
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Danone SA
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Himgiri Group
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 RDM International
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 SunLeaf
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 SunOpta
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'IQF Fruits Market,' the IQF fruits market was valued at $6.2 billion in 2021, and is estimated to reach $11.8 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.IQF is an environment-friendly and non-thermal technique of food preservation. Most fruits and vegetables are preserved using this method. The use of IQF in food preservation is related to a number of advantages. It has various advantages, some of which include extending shelf life and maintaining the flavor & quality of food goods. The demand from food manufacturers to preserve food for a long time and utilize it as a component in finished goods fuels the growth of the global IQF fruit market share. The working class continues to contribute significantly to revenue growth during the forecast period. The IQF fruits have a number of essential qualities that aid in preventing deterioration during difficult transit. These characteristics shield them from exposure to light and heat. The demand for IQF fruits in dairy products is anticipated to increase during the forecast period. Yogurt and other dairy products are in high demand, and this demand is growing tremendously. Customer inclination for veganism is also one of the key factors that propel the growth of the global IQF fruit market size.
The IQF fruits industry places a great deal of emphasis on the production of frozen fruits. However, as the cost of IQF fruit is so exorbitant thus regular people refrain from purchasing them. They shift their attention to simply purchasing fresh fruits. As a result, this might be a constraint for the global market as the companies need to lower the profit margin and the price of frozen fruits to boost sales.
Nevertheless, the rise in the desire of food producers to retain food goods for a long period as an ingredient for use in finished products is another significant development in the IQF fruits market. The growing working-class population is anticipated to continue to boost sales in the worldwide IQF fruits sector. In addition, IQF fruits have essential qualities that guard them against spoiling during demanding transportation as well as exposure to light and heat. Consumption of IQF fruit and goods using IQF fruit as an ingredient is anticipated to foster market growth, increasing GDP and raising customer awareness of their health.
The IQF fruits market is segmented on the basis of fruit, end-use industry, sales channel, and region. By fruit, it is segregated into berries, peaches, prune, bananas, pineapple, mangoes, oranges, and others. On the basis of the end-use industry, the market is categorized as food industry, retail, and HoReCa. The food industry segment is further segregated into bakery & confectionary, dairy, fruit-based beverages, and breakfast cereals. By sales channel, it is bifurcated into direct sales and indirect sales. The indirect sales segment is further fragmented into hypermarkets & 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 berries segment was the highest contributor to the market and is expected to sustain its contribution throughout the IQF Fruits market forecast. When compared to eating fresh berries, eating frozen berries can have a higher antioxidant content. This is just one of many instances that show frozen items are still a viable option for businesses today. The berries segment of the IQF fruits market is expected to expand due to rising demand for IQF techniques to increase the perishability of fruits and the growing use of berries in the bakery, confectionery, and HoReCa industries.
According to IQF fruits market trends, by end-user industry, the food service industry segment was the highest contributor to the market, with $350.6 million in 2021, and is expected to grow at a CAGR of 5.5% during the forecast. Growth in demand for customization and innovation in food menu options are among the key factors that drive the food service industry. Consumers are provided with a wide variety of alternatives to customize their meals according to their taste, dietary, and budget preferences.
According to IQF fruits market analysis, by sales channel, the direct sales segment was the highest contributor to the market, with $350.6 million in 2021, and is expected to grow at a CAGR of 5.5% during the forecast period. The direct sales segment accounted for a major share of the market in 2021 and is expected to grow at a significant CAGR during the forecast period. The direct sales segment is referred to as business-to-business sales. IQF fruits are majorly sold to various companies that deal in the food processing and food service industry. IQF fruits have higher durability as compared to conventional fruits so it can be easily used and stored for future use. Thus, the above-mentioned factors are likely to propel the growth of the IQF fruits market size through direct sales channels during the forecast period.
According to IQF fruits market opportunities, In 2021, North America accounted for a 40.4% share of the IQF Fruits market and is expected to maintain its dominance during the forecast period. The market for IQF fruits in North America is anticipated to increase strongly during the forecast period as a result of rising consumer awareness of the value of fruits and vegetables for their nutritional content as well as the surge in demand for convenience foods. In addition, the expansion of the food service and food processing sectors in North American regions as well as the rise in demand for IQF fruits for use in culinary recipes are likely to support IQF fruits market growth in this region.
The major players analyzed for the global IQF Fruits industry are AGRANA, Alasko Food Inc, AXUS International, LLC., Bsfoods, Capricorn Food Products India Ltd, Danone SA, Himgiri Group, RDM International, SunLeaf, and SunOpta.
Key findings of the study
By fruit, the berries segment was the highest revenue contributor to the market with $1,077.2 million in 2021, and is estimated to reach $1,746.3 million by 2031, with a CAGR of 5.1%.On the basis of end use industry, the food industry segment was the highest revenue contributor to the market, with $3,084.3 million in 2021, and is estimated to reach $5,440.7 million by 2031, with a CAGR of 6.0%.
As per sales channel, the direct segment was the highest revenue contributor to the market, with $4,441.0 million in 2021, and is estimated to grow at a CAGR of 6.5%.
Region-wise, North America was the highest revenue contributor, accounting for $2,519.1 million in 2021, and is estimated to reach $4,310.1 million by 2031, with a CAGR of 5.7%.
Companies Mentioned
- Agrana
- Alasko Food Inc.
- Axus International, LLC.
- Bsfoods
- Capricorn Food Products India Ltd.
- Danone SA
- Himgiri Group
- Rdm International
- Sunleaf
- Sunopta
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 334 |
| Published | October 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 6235.3 million |
| Forecasted Market Value ( USD | $ 11776.1 million |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
