IQF Fruits Market: IQF Fruits continue to gain popularity, seeing USD 6.77 billion in revenue in 2024

The IQF Fruits market size reached USD 7.16 billion in 2023 and is expected to reach USD 10.70 billion by 2030, growing at a CAGR of 5.9 % during the forecast period.

IQF stands for “individually quick freezing,” which means each IQF fruit piece is frozen separately from the other fruits. One of the most notable advantages of IQF fruit is that it is frozen fast and at the optimum freshness, keeping its quality. Customers may now enjoy their favorite fruits without losing their nutritious benefits. This also makes it easy to avoid wasting or spoiling fruit at home. In 2023 the United States has generated 312.4 million tons of municipal solid waste. That is about 4.7 pounds per person each day. Therefore IQF Fruit demand is increased to keep fruits fresh for a long time and to reduce waste. Increased industrial demand for IQF fruits as a raw material would boost demand for IQF fruits. Rising usage among dairy industries and pet food manufacturers is expected to fuel the global IQF fruit market. IQF fruits do not require further preparation, and the fruits can be preserved in the same packing for later consumption. This also reduces waste and ensures that fruit is used to its full potential.

The leading key players in the IQF fruits market have a tremendous market opportunity because of the customers' growing preference for fruits as well as their rising need for products with a longer shelf life. Growing demand for convenience foods as a result of a busy lifestyle as well as an increase in the number of working women is also expected to drive market growth for IQF fruits. The IQF fruit market is expected to be hampered by price fluctuations.To know about the Research Methodology :- Request Free Sample Report
IQF Fruits Market Dynamics:
Increasing Health Consciousness to Cause a Spur in the IQF Fruits Market

The increased desire for exotic fruits along with an all-time availability of non-seasonal fruits has led to an increase in the demand for the IQF Fruits market. The consumption of frozen fruit is better and healthier than canned and dehydrated fruits and it is considered a more preferable choice. Many commercial, as well as local customers, have demand for seasonal fruits that may be not available at all times. The consumer’s demand for such fruits is fulfilled through these IQF Fruits especially in the off-season when they are not naturally available. The essential characteristics are observed to be well retained in IQF fruits along with the nutritional aspects of the actual fruit, which is expected to further increase their demand. Consumers, especially the younger generation are becoming more health-conscious and focused on improving their health. The rising rate of obesity and other related diseases is encouraging consumers to adopt a healthier lifestyle. The increased knowledge of the benefits of fresh food along with low prices and easy availability has had a significant impact on the global market's growth. Thus, the market is likely to experience a strong global growth rate in the coming years. The most recent unit in IQF technology ensures that IQF manufacturing consumes less energy and generates less waste. The IQF tunnel freezer has the advantage of having up to five freezing zones that manage the circulating, bubbling, and fixed bed fluidization. This enables speedy freezing of the surface of the products to minimize dehydration and lump formation.

The robust growth of food processing companies, rapid urbanization, and growing usage of frozen foods in a variety of food and beverage products as well as increased knowledge about health advantages are all factors contributing to the growth of the IQF fruit market. However, the trade disruption experienced due to the COVID-19 pandemic is predicted to create a decline in the IQF Fruits market trend to a certain extent.

The growing demand for IQF fruits in the food and beverages industry

As the trends in the IQF Fruits market continue to evolve and develop at a steady pace. Customer demand is focused on the quality and durability of the products that they purchase. The FDA has certified IQF fruits as GRAS, giving them a safe option for all manufacturers. IQF fruits are an essential component of modern bakery items such as jams and jellies. Furthermore, the demand for berry varieties of fruits has been on a steady rise from matured markets such as Europe is supporting the growth of IQF fruits.

Increased utilization of IQF fruits in bakery products is expected to augment the growth of the market. Manufacturers are constantly on the lookout for newer and advanced technology and innovative solutions to increase the quality as well as the shelf life of bakery items. Thus, to increase profitability, the use of IQF fruits in bakery products is seeing an incline. IQF fruits are used in various modern bakery products including cakes, tarts, muffins, jellies, and so on while frozen berries are used widely in yogurts, fruit snacks, smoothies, and many other desserts. Hence, all these factors are expected to contribute to a rise in the demand for IQF fruits which in turn would lead to a rise in the generation of sales and the growth of the IQF Fruits market.
IQF Fruits Market Trends
The increasing focus of manufacturers to expand the IQF Fruits product range is a major trend that has been observed in the market of IQF Fruits. The rising trend of mergers and acquisitions among major players to attain a competitive edge in the market. Some of the key players in the IQF fruits sector are AGRANA, Alasko Food Inc, AXUS International, LLC., Bsfoods, Capricorn Food Products India Ltd, Danone SA, Himgiri Group, RDM International, SunLeaf, and SunOpta. Europe had the second-highest IQF fruit market share in 2023 and is expected to retain its market share during the forecast period. The large spending capabilities of consumers and economic stability are some of the primary factors for the growth of the frozen food business in the European region is expected to foster the market growth of IQF Fruits over the forecast period.

To meet this rising demand, an increasing number of manufacturers of individual quick freeze (IQF) fruits are entering the market, and new entrants are moving into new areas. As a result, the frozen food trade in most countries is becoming more international. As a result, supply chains are getting broader and more complex, pushing sales of individual quick freeze (IQF) fruits.
IQF Fruits Market Restraint
Inappropriate storage and transport facilities in small retail stores are a serious concern for businesses in developing countries. Deep freezing and storage facilities are required for IQF fruit products. Furthermore, rural areas in developing markets such as India and China face storage, refrigeration, and electrical challenges, posing a significant threat to major frozen food manufacturers. Furthermore, the absence of transportation facilities hampers the distribution of IQF fruits to households. As a result, all of these factors together hamper the growth of the global IQF fruit market size.

The high costs associated with freezing equipment procurement may pose a significant threat to the growth of the global individual quick freeze (IQF) fruits industry. Furthermore, frozen foods contain a range of preservatives that are harmful to the human body, which is another major factor that is expected to hamper the growth of the global fruit market throughout the forecast period.

COVID-19 Impact:

The emergence of the coronavirus pandemic had a significant negative impact on the IQF Fruits sector. Most manufacturing connections were affected as a result of the lockdowns, creating trouble in the supply chain. Because most agricultural producers were unable to offer their products to IQF Fruits manufacturers, therefore the market demand dropped. The availability of IQF fruits market suffered and caused a decline in revenue with the shutting down of supermarkets and retail stores because of the lockdown.
IQF Fruits Market Segment Analysis:
Based on Fruit, the berries segment dominated the market in 2023 and is expected to grow during the forecast period. IQF berries are rich in flavonoid and phenolic compounds with a low fructose level which helps in brain functioning and reduces the development of cancer cells. A cup of IQF berries can provide one-third of the daily prescription for vitamin C. IQF berries are best consumed for ice creams, yogurts, desserts, jellies, or any entrée that demands berry pieces.

The banana segment is expected to grow at a significant rate during the forecast period. IQF bananas are high in potassium, pectin, fiber, magnesium, and vitamins C and B6. It is known to reduce swelling, reduce the development of diabetes, help in weight reduction, encourage the production of white blood cells, and enhance the nervous system. A medium-sized banana already contains 33% of the daily required amount of vitamin B6. It's ideal for bread-making, cheesecake, milkshakes, and other sweets.

Based on End-use, the Food Industry segment led the market in 2023 and is expected to dominate the market over the forecast period. The demand for bakery and confectionery products is increasing every day as a result of changing lifestyles, a growing population, and economic advancements. Growing urbanization and rising demand for ready-to-eat or quick meals are expected to boost sales of bread and cereal products. The inclusion of IQF fruits in bakery and confectionery items is boosting the growth of the IQF fruit market.

Based on the Sales Channel, the specialty retail shops segment is expected to grow at a CAGR of 7.8% throughout the forecast period. Consumers prefer to examine and evaluate products before purchasing, which increases retail sales of IQF fruits. Specialty stores give excellent customer service and full product specification & expert guidance to the consumers, which improve the sale of these products. Furthermore, these businesses encourage both international and private-label brand sales in their stores.
IQF Fruits Market Regional Insights
In North America, the IQF Fruits market accounted for the highest revenue share in 2023. The fast-paced modern lifestyles that have pushed customers to look for convenient and hygienic fruit products that reduce the usual hassles of washing and chopping fresh fruits are some of the primary factors driving the North American IQF Fruits Market. Other factors include a growing preference for nutritious foods, packaging technological advancements, and a longer shelf life. Furthermore, the rising desire for food manufacturers to preserve food products for a longer period of time so that they may be used as a component in their final product is fueling the demand for IQF fruits throughout the forecast period.

Europe had the second-highest IQF fruit market share in 2023 and is expected to keep this position throughout the prediction period. The large spending capacities of customers and economic stability are some of the primary factors for the growth of the frozen food business in the European region. Another aspect driving market growth is customers' hectic lifestyles, which increases demand for convenience foods. Due to an increase in health-conscious customers throughout the region, the frozen ready-to-eat healthy breakfast segment has grown in popularity in recent years. Europe has been one of the most lucrative businesses for frozen food, especially IQF fruits, due to the presence of several foods and bakery companies.
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Global IQF Fruits Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 7.16 Bn.


Forecast Period 2024 to 2030 CAGR:
5.9%
Market Size in 2030:
US $ 10.70 Bn.


 Segments Covered:
by Fruit
1.Berries
2.Peach
3.Prune
4.Bananas
5.Pineapple
6.Mangoes
7.Oranges
8.Others


by Application
1.Retail Outlets
2.Online Stores


by Sales channel
1.Direct Sales (Manufacturers)
2.Indirect Sales
3.Hypermarkets/supermarkets
4.Convenience stores
5.Specialty retail stores
6.Traditional grocery stores
7.Online retailers.


by End-use
1.Food Industry
2.Bakery and confectionary
3.Dairy
4.Fruit-based beverages
5.Breakfast cereals
6.Retail (Households)
7.HoReCa (Food Service Providers)



The IQF Fruits market report determines the market share, size, current, and future trends, challenges, and forecast. It also assesses the IQF Fruits industry drivers, restraints, growth indicators, market dynamics, and risk. This report discusses business strategies as well as potential growth opportunities. It also offers a plethora of data on gross margin, SWOT analysis, CAGR, and prospects for the future of major key companies. This report segmented the market by fruit, End-Use, Sales Channels, and geographical location as well as the new techniques and manufacturing cost structures of the IQF Fruits market. The Report focuses on data on global market developments and the competitive landscape.
IQF Fruits Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
IQF Fruits Market, Key Players are:
1.Ardo N.V.
2.The Agrana Group
3.Alasko Foods Inc.
4. AXUS International, LLC.
5. Danone SA
6. Himgiri Group
7. RDM International, Inc.
8. SunLeaf Renewable Solutions LLP
9. SunOpta Inc.
10.Capricorn Food Products India Ltd.
11.Uren Food Group Ltd.
12.Bs Foods B.V.
13.Rosemary & Thyme Ltd.
14. Fruktana Ltd
15.TAMARA Foods
16. Fauji Fresh n Freeze Limited
17.Milne Fruit Products Inc.
18. Frutex Australia Pvt Ltd.
19. Shimla Hills Offerings Pvt. Ltd.
20.Alasko Foods Inc.
21. Snow Fresh Egypt

FAQs:

1. Who are the key players in the IQF Fruits market?
Ans. RDM International, Inc., SunLeaf Renewable Solutions LLP, and SunOpta, Inc. are some of the market players in the IQF Fruits market.

2. Which Sales Channel segment dominates the IQF Fruits market?
Ans. The Specialty retail stores segment accounted for the largest share of the global IQF Fruits market in 2023.

3. How big is the IQF Fruits market?
Ans. The Global IQF Fruits market size reached USD 7.16 billion in 2023 and is expected to reach USD 10.70 billion by 2030, growing at a CAGR of 5.9 % during the forecast period.

4. What are the key regions in the global IQF Fruits market?
Ans. Based On the region, the market has been classified into North America, Europe, Asia Pacific, Middle, East and Africa, and Latin America. Europe dominates the global IQF Fruits market.