The global IQF vegetable market was valued at roughly USD 4.94 billion in 2021 and is expected to increase to nearly USD 6.98 billion by 2028, with a CAGR of around 4.6 percent throughout the forecast period. The study examines the drivers, restraints, and challenges that the IQF vegetable market confronts, as well as their impact on demand throughout the forecast period. The report also looks into the new potential in the IQF vegetable sector.
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Individually Quick Frozen vegetables, or IQF vegetables, are fresh vegetables that are been frozen one at a time. This process of fast freezing helps to maintain the final product’s freshness and quality. IQF is a strong food preservation technique that offers several benefits over traditional methods of freezing. Individual quick freezing not only speeds up the procedure, but also ensures that an IQF vegetable retains its form, color, and flavor longer than traditional freezing. Traditional frozen veggies lose their nutritional value faster than IQF vegetables. For individuals who prefer the convenience of frozen vegetables without sacrificing quality or taste, IQF vegetables are a perfect choice.
The sales of IQF vegetables had been affected by the shutdown of foodservice sector participants such as quick-service restaurants and full-service restaurants. Food and beverage manufacturing has been harmed by lockdown constraints across the world. This had an impact on the global IQF vegetable market in terms of revenue and sales. The pandemic also had a significant influence on global logistics and transportation networks which led to disruption of the distribution as well as supply chain. On the other hand, an increase in per capita disposable income in the countries, pandemic management, and changes in government policies would result in a revival of IQF vegetable sales during the forecast period.
IQF Vegetable Market: Growth Drivers
Due to the technology utilized in the manufacture, processing, and storage of frozen food, it has seen an increase in demand. The capacity to securely keep vegetables and fruits for extended periods of time when kept at particular temperatures has been enhanced by IQF technology. IQF technique employs nitrogen to freeze every single vegetable unit, whereas cold storage methods regulate moisture. IQF vegetables have a shelf life of a few weeks to months, based on the source, enabling storage without fear of deterioration. Fast freezing, which transforms all liquid to a frozen form without destroying vegetable cells, is used in IQF techniques to provide vegetables with an extended shelf life. Thus, the longer shelf life of IQF vegetables is propelling the growth of the market. In addition to this, growing preference for frozen food, rise in disposable income, and easy availability of IQF vegetables in hypermarkets/supermarkets, as well as online platforms, are some of the factors that are fostering the growth of the global IQF vegetable market.
Contributors to IQF Vegetable
The IQF Vegetable industry has exploded in recent years and shows no signs of slowing down. As a result, the industry has become extremely competitive. Here are some of the game’s top global players who are benefiting from the surge in popularity:
• B&G Foods Holdings Corp
• Cardinal Foods LLC
• J.R. Simplot Co
• Capricorn Food Products India Ltd
• Dole Food Co
• Pinnacle Foods, Inc
• Greenyard NV
• Uren Food Group Limited
• Kerry Group Plc
• ConAgra Foods
Analysis of segmentation
The IQF Vegetable market is typically divided into many divisions. According to Zion Market Research, the on-demand delivery model sector will account for more than 76 percent of global sales in 2021. The following are the primary components that are examined for potential growth:
Market, By Type
● Broccoli and Cauliflower
● Corn and Baby
Market, By Application
● In April 2021, food and beverage industry professionals established REMS Frozen Foods with the goal of being the “supplier of choice for all major UK and Irish food producers.” REMS will import frozen food products from all over the world, with a focus on individually quick frozen (IQF) herbs, spices, vegetables, and fruit for further processing by Irish and UK food producers.
● In January 2022, SimpliFine, a Kenyan integrated food company that distributes locally sourced and produced food across East Africa, launched its Individual Quick Freezing (IQF) processing line. simplify is extending its manufacture of fresh French fries to provide frozen French fries as a result of its investment in IQF technology, improving supply and prolonging the shelf life of locally grown potatoes. SimpliFine’s technology will help Kenyan potato growers increase their market and minimize their dependency on imported French fries.
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