Industry Background:
IQF stands for individually quick frozen, which is a process of freezing small individual pieces separately. In such a process, a batch of pees will not be clumped together or stuck together as a one block of pees, rather each individual tiny piece of pee will freeze separately. IQF is also known to chill or freeze products at much faster rate than traditional freezers. Common IQF products include vegetables, fruits, seafood and poultry among others, with fruits and vegetables being most popular IQF products. Rising demand for shelf stable food as well as increase in population have been major proponents for the growth of the IQF products market. Tropical Fruits segment can help accelerate the growth of the IQF products because of unavailability of tropical fruits everywhere. North America and Europe are the two biggest markets of the IQF products.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | SunOpta Inc. (Canada), Kerry Group Plc (Ireland), Dole Food Company Inc. (United States), B&G Foods Holdings Corp. (United States), Ardo NV (Belgium), Inventure Foods, Inc. (United States), Titan Frozen Fruit (United States), Simplot (United States), Capricorn Food Products India Ltd. (India) and Pinnacle Foods, Inc. (United States) |
According to AMA, the market for IQF Products is expected to register a CAGR of 5.6% during the forecast period to 2030. This growth is primarily driven by Increasing Demand for Shelf Stable Food, Rising Population in Certain Regions of World and Advancement in Technology in Food Processing Industry.
Globally, a noticeable market trend is evident Vegetables and Fruits Account for Larger Market Share Major Vendors, such as SunOpta Inc. (Canada), Kerry Group Plc (Ireland), Dole Food Company Inc. (United States), B&G Foods Holdings Corp. (United States), Ardo NV (Belgium), Inventure Foods, Inc. (United States), Titan Frozen Fruit (United States), Simplot (United States), Capricorn Food Products India Ltd. (India) and Pinnacle Foods, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Key Developments in the Market:
In 2021, Nomad Foods Limited, a UK based one of the leading European frozen food company has announced acquisition of frozen food business of Fortenova Group with singing of an agreement to do so. The acquisition deal is estimated to be worth around USD 723 million. Nomad Foods looks to capitalise on the extensive geographical presence of the Fortenova and its subsidiaries operating in the frozen food space.
In 2021, Dole Food Company, Inc., the multinational food corporation specialised in fruit and vegetable production and supply has announced a merger with Ireland based Total Produce plc, which specialises in the fresh produce and supply. After the completion of the merger, the combined entity will be notably one of World’s largest fresh fruits and vegetables manufacturer. The newly created entity will be named as Dole Plc and will be headquartered in Ireland although listed in United States.
Influencing Trend:
Vegetables and Fruits Account for Larger Market Share
Market Growth Drivers:
Increasing Demand for Shelf Stable Food, Rising Population in Certain Regions of World and Advancement in Technology in Food Processing Industry
Challenges:
Less Awareness as well as Less Availability in Developing Countries
Restraints:
Expensive than Regular Food
Opportunities:
Tropical Fruits in IQF Fruits Segment Presents Huge Opportunity for Growth
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in IQF Products Market
- Analysis about New Entrants in IQF Products Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, IQF Products Study Sheds Light on
The IQF Products Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the IQF Products industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where IQF Products industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.