The Global IQF Fruits & Vegetables market, generated sales amounting to USD 5,917.0 million in 2019. The industry is estimated to reach USD 6,855.0 million in 2024. Over the assessment period from 2024 to 2034, the global landscape is projected to expand at a compound annual growth rate (CAGR) of 3.1%, culminating in a size of USD 9,763.5 million by the end of 2034.
A vibrant field characterized by innovation and driven by consumers’ needs is the Global IQF Fruits & Vegetables landscape. The use of Individually Quick Frozen technology is enabling the preservation of the taste, texture, and nutritional content of fresh produce, thus meeting consumer needs for quality and convenience. This sector serves a broad audience including those with health-consciousness as well as a fast-food service industry.
By greening their supply chains, this sector responds to environmental concerns on sustainability and food waste reduction. The industry’s forward momentum comes from its adaptability to clean label trends and organic product demand. Therefore, as people move towards healthier eating habits that require more time-saving choices; the IQF Fruits & Vegetables' sector will keep growing and innovating in line with changing dietary practices globally.
| Attributes | Description |
|---|---|
| Estimated Global IQF Fruits & Vegetables Industry Size (2024E) | USD 6,855.0 million |
| Projected Global IQF Fruits & Vegetables Value (2034F) | USD 9,763.5 million |
| Value-based CAGR (2024 to 2034) | CAGR 3.6% |
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The table below presents a comparative assessment of the variation in CAGR over six months for the base year (2023) and current year (2024) for the Global IQF Fruits & Vegetables industry.
This analysis reveals crucial shifts in industry performance and indicates revenue realization patterns, thus providing stakeholders with a better vision of the ecosystem growth trajectory over the year. The first half of the year, or H1, spans from January to June. The second half, H2, includes the months from July to December.
| Particular | Value CAGR |
|---|---|
| H1 | 3.8% (2023 to 2033) |
| H2 | 3.3% (2023 to 2033) |
| H1 | 4.2% (2024 to 2034) |
| H2 | 3.7% (2024 to 2034) |
The above table presents the expected CAGR for the global IQF Fruits & Vegetables industry over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 3.8%, followed by a slightly higher growth rate of 3.3% in the second half (H2) of the same decade.
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase slightly to 4.2% in the first half and remain relatively moderate at 3.7% in the second half.
Clean label & transparency trends driving the IQF landscape
The IQF Fruits & Vegetables market is increasingly aligning with the clean label movement, where transparency in food processing and sourcing is paramount.
To meet customers’ demands regarding knowledge about ingredients used when processing it or even where it comes from through natural ingredients without additives or preservatives: this creates an undying trend which calls for bearing more information on labels by manufacturers whose products are sought after by people who care about their safety while consuming them.
Customisation of offerings becoming increasingly popular among consumers
Customization is becoming a hallmark of the IQF Fruits & Vegetables market as consumers seek products tailored to their dietary preferences.
Hence, there has been an increase in blended fruit/veggie options which provide versatility and cater for personalized nutrition requirements that individuals may have. These blends are not only versatile but also offer improved nutrition such as functional foods that support health and well-being.
Companies working on reducing food waste and focusing on sustainability
There has been a rising trend towards sustainability in the IQF Fruits & Vegetables industry aimed at minimizing food wastage while embracing green practices. This way one just takes what he wants out of any piece of frozen produce leaving less behind hence reducing wastage at home.
Subsequently, companies are putting money into sourcing and processing methods which are sustainable thereby reducing their environmental impact. This indicates that consumers have a better understanding of the environment now and they want products that will help save it through conservative usage.
Principal Consultant
Global IQF Fruits & Vegetables sales increased at a CAGR of 2.9% from 2019 to 2023. For the next ten years (2024 to 2034), projections are that the IQF Fruits & Vegetables landscape will rise at a forecasted CAGR of 3.6%.
The Global IQF Fruits & Vegetables market has historically seen steady growth, fuelled by increasing consumer demand for convenient, healthy and high-quality food products. With the adoption of IQF technology, fruit and vegetable preservation changed significantly, as it offers improved quality compared to conventional freezing techniques.
Nutritional values, taste and textures could be maintained due to this technology making it highly sought after by health enthusiasts. The IQF process has been significantly enhanced technologically over time in terms of its efficiency and scalability.
This has resulted in a wider range of products being available for different consumer preferences and dietary requirements than before. In response to increasing calls for eco-friendly practices, the industry is witnessing companies adopting such operations aimed at meeting environmentally conscious individuals' needs.
The IQF fruits & vegetables market has a promising outlook for the future. Indeed, clean eating and healthy food trends have increased the sale of frozen products. Furthermore, the increasing globalization of cuisine is expected to increase demand for "exotic" fruits and vegetables as they become more popular with the masses.
Not only this, but as the world population increases and urbanizes there will be a need to make food that lasts longer and can be taken quickly hence expansion in the IQF sector.
In anticipation of this trend, companies are expected to continue their product development efforts with a focus on innovation for differentiation purposes and extension into new regional markets in order to take advantage of these factors. The industry for IQF fruits and vegetables will therefore continue growing and transforming in future.
The IQF fruits & vegetables market exhibits medium fragmentation coupled with a movement towards consolidation. This means that although there are several major corporations that control large sections of the industry, many other smaller firms produce their own distinct products which cater to specific cultural preferences within regions.
A fragmented market is one where various players share small pieces of shares among themselves. This results in cut-throat competition characterized by price wars, product diversification strategies as well as niche marketing initiatives deployed by competing firms.
On another note, consolidated markets tend to have few big players dominating them. These multinational corporations have economies of scale, wide distribution networks, as well as brand recognition which enable them to control larger portions of such industry.
They normally engage in merger or acquisition activities aimed at increasing their presence in the industry while reducing competition levels among themselves. For example, SunOpta or Capricorn Foods deals through its subsidiaries in different parts of India.
There is an ongoing consolidation process driven by MNCs buying smaller local counterparts alongside widening global reach and range of their products in the IQF Fruits & Vegetables industry. However, certain products are so specialized that they do not fit into this consolidated structure and are manufactured by these smaller companies.
This combination of consolidation and fragmentation creates a dynamic industry environment which is supported by both multinationals and regional firms leading to the sector's development.
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The following table shows the estimated growth rates of the top industries. The US and UK are set to exhibit high IQF Fruits & Vegetables consumption, recording CAGRs of 4.2% and 2.8%, respectively, through 2034.
| Countries | CAGR 2024 to 2034 |
|---|---|
| USA | 4.2% |
| UK | 2.8% |
| China | 5.3% |
| India | 5.9% |
| Australia | 3.1% |
Driven by the consumers' pursuit of healthier, more convenient food choices, the United States has become an influential platform for IQF fruits and vegetables sales. This is because it has varying types of weather across the country allowing a wide range of fruits and vegetables to be grown and processed.
The USA also boasts a high level of advancement in its food processing industry that can handle IQF products and maintain good qualities thereof. The trend toward clean eating as well as major players in this sector further enhance the positioning of the USA as one of the most important markets for IQF produce.
The USA landscape is projected to grow at a CAGR of 4.2% from 2024 to 2034 and reach a value of USD 2,850.9 million or a value of 29.2% in 2034.
The UK acts as a hub within Europe for IQF fruits and vegetables. Its strategic position means that it is one of the best places through which trade can occur with other European countries.
Besides that, the British public currently demands diverse varieties of exotic fruits and vegetables, hence an increase in different forms of IQF products being sold in this country.
Moreover, due to these standards which are quite tough on food safety regulations; they carefully check on quality before any product is labelled IQF hence creating confidence between buyers and sellers.
The industry is projected to have a world value share of 11.2% in 2034 with a value of USD 1,093.5 million owing to growth at a forecast CAGR of 2.8% from 2024 to 2034.
There is an increasing infiltration by IQF fruit and vegetable companies into India targeting their large agricultural sector coupled with a rising middle-class population. In India, the growth in urbanization coupled with increased demand for ready-to-eat items among time-starved customers drives the development of the IQF industry.
Indian businesses use this biodiversity to bring out various exotic and native frozen foods that meet domestic or international tastes. Local entrants into this sector who have adopted IQF technology make up part of its expansion thus assuring a bright future in India's context.
The Indian landscape is projected to advance with a forecast CAGR of 5.9% from 2024 to 2034 to reach a value of USD 615.1 million in 2034.
| Segment | Fruits |
|---|---|
| Main segment | Product Type |
| Value Share (2024) | 58.1% |
With respect to the Global IQF Fruits & Vegetables Market commodities like fruits are very popular being frozen through individual quick freezing (IQF) technology. This procedure helps to keep flavour, nutritional value and texture just like fresh fruit thereby making it consumers' favourite choice when looking for convenience without compromising quality aspects much.
Besides that, IQF fruits have a wide range of applications such as baking and cooking or direct consumption as a healthy snack. Additionally, the technique allows freezing each piece of fruit separately to allow consumers to use only required quantities minimizing wastage and facilitating better portion control.
These reasons have led to IQF Fruits gaining a projected value share of 58.1% in 2034 with a value of USD 5,672.6 million owing to a forecast CAGR of 3.4%.
| Segment | Beverage |
|---|---|
| Main segment | End Use |
| Value Share (2024) | 26.4% |
More and more companies in the beverage industry are using IQF fruits and vegetables in order to boost their product offerings. Using this technology enables one to make smoothies, juice, cocktails etc., which possess high quality with no seasonal limitations throughout the year.
This reflects consumer preference for natural and health drinks as a result of which beverage manufacturers devise various ways of producing them via IQF technology.
Also, producers of beverages have embraced this fast method so as to expand their product lines through the inclusion of new flavours from different cultures across the world that satisfy both health needs and the indulgent experience customers seek.
Beverage application is projected to grow with a forecast CAGR of 4.7% from 2024 to 2034, which will help it reach a value of USD 2,577.6 million or a value share of 26.4% in 2034.
The global IQF fruits and vegetables market has been changing fast as companies are trying to keep up with the competition. Mergers and acquisitions are increasingly being seen as a way of expanding markets and diversifying, enabling firms to exploit synergies and enhance their offerings.
There has been an increase in inventive product introductions, particularly aimed at meeting the changing consumer demands for easy access to products that improve consumers' health conditions. Firms have invested in research and development in order to introduce new breeds which hold more nutrients when thawed as well as taste better than the older ones.
Market players have also been shaping the landscape through strategic partnerships, working together to optimize supply chains and reduce operational costs.
With an emphasis on environmentally friendly packaging and waste reduction, companies are incorporating sustainability into their strategies. These moves are aimed at supporting their growth trajectory and expanding their market reach.
As per Product Type, the industry is categorized into Fruits (Berries, Banana, Mango, Apple, Papaya, Others) and Vegetables (Potato, Tomato, Broccoli & Cauliflower, Others).
As per End Use, the industry is categorized into Food (Bakery, Confectionary & Snack Food, Dairy & Dessert, Cooking food, Ready-to-Eat Food), Beverage (Juice, Other Non-alcoholic Beverages), and Concentrate.
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
The global IQF Fruits & Vegetables market is estimated at a value of USD 6,855.0 million in 2024.
Sales of IQF Fruits & Vegetables increased at 2.9% CAGR between 2019 and 2023.
Novozymes A/S, Advanced Enzymes Technologies Ltd, BASF SE, Royal DSM N.V., E.l. Du Pont de Nemours & Company, Rossari Biotech Limited, AB Enzymes GmbH, and Lallemand Inc. are some of the leading players in this landscape.
The USA is projected to hold a revenue share of 29.2% over the forecast period.
China holds a 8.5% share of the global market for IQF Fruits & Vegetables.
1. Executive Summary 2. Industry Introduction, Including Taxonomy and Market Definition 3. Market Trends and Success Factors, Including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Product Type 6.2. End Use 6.3. Region 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product Type 7.1. Fruits 7.1.1. Berries 7.1.2. Banana 7.1.3. Mango 7.1.4. Apple 7.1.5. Papaya 7.1.6. Others 7.2. Vegetables 7.2.1. Potato 7.2.2. Tomato 7.2.3. Broccoli & Cauliflower 7.3. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use 8.1. Food 8.1.1. Bakery, Confectionary & Snack Food 8.1.2. Dairy & Dessert 8.1.3. Cooking food 8.1.4. Ready-to-Eat Food 8.2. Beverage 8.2.1. Juice 8.2.2. Other Non-alcoholic Beverages 8.3. Concentrate 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. East Asia 9.6. South Asia and Pacific 9.7. Middle East and Africa 10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Sales Forecast 2024 to 2034 by Category A, Category B, and Category C for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Novozymes A/S 19.2. Advanced Enzymes Technologies Ltd 19.3. BASF SE 19.4. Royal DSM N.V. 19.5. E.l. Du Pont de Nemours & Company 19.6. Rossari Biotech Limited 19.7. AB Enzymes GmbH 19.8. Lallemand Inc. 19.9. Amano Enzymes Inc. 19.10. Biocatalysts Limited 19.11. Creative Enzymes 19.12. Nagase & Co., Ltd. 19.13. Chr Hansen Holding A/S 19.14. Jiangsu Boli Bioproducts Co. Ltd. 19.15. Kemin Industries, Inc
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IQF Fruits & Vegetables Market
