The Global IQF fruits market was valued more than US$ 9,490.9 Mn in terms of revenue in 2019 and is predicted to grow at a CAGR of 6.5 per cent during the forecast period of 2020 to 2027 as stated in a new market study published by Coherent Market Insights.
Growing demand for all-natural preserving technology is primarily propelling the market growth of IQF fruits. This is accounted for rising health consciousness among consumers and other preserving techniques such as canning and drying uses an additive to increase the shelf-life of the fruit. However, in IQF only fresh fruit is used as raw material. Hence, the growing demand for all-natural preserving technology is projected to foster market growth.
Increasing spending by consumers on food service industries such as restaurants, hotels, bars, cafes, and casinos is projected to provide potential opportunities to the market of IQF fruits. Growing demand for bakeries confectioneries is also projected to foster the market growth of the IQF fruits. Moreover, growth in the e-commerce shopping across developed, as well as developing countries, is again projected to upsurge the market growth of IQF fruits.
According to the market analysis, lack of frozen food regulatory bodies coupled with the misunderstanding regarding the nutritional value of frozen fruits is expected to hamper the market growth.
Key Takeaways
On the basis of product type, strawberry segment dominated the global IQF fruits market in 2019 with around 42.6 per cent of market share in terms of revenue, followed by blueberry and peach respectively.
On the basis of region, North America dominated the global IQF fruits market in 2019 with around 29.8 per cent of market share in terms of revenue, followed by APEJ and Western Europe respectively.
Market Trends
1. Go organic is a trend in the market which is fuelling the demand for IQF fruits as they have special certifications. It is expected to stimulate the market growth of IQF fruits. Growing demand for fresh fruits among health-conscious consumers due to growing health wellness trend among consumers is also projected to foster the market growth of IQF fruits. An increasing number of small and medium-sized players in the US in cereal bars and breakfast cereals with fruits and flavours market is again anticipated to spur the market growth.
2. Red tart cherries produced by IQF fruits technology is gaining traction in the market. They are distinguished with the sour-sweet flavour and are available in bright red colour. Moreover, they have great taste and also look attractive due to its bright red colour. Besides, they have various health benefits such as improving the metabolism of the body. Thus growing popularity of red tart cherries is projected to fuel the market growth of IQF fruits.
Regulations
Europe
With effect from 1 January 2006, all-temperature monitoring instruments used in transport, warehousing and storage of QFF must comply with European Standards (EN12830, EN13485, and EN13486)
The food must be frozen and have crossed the zone of maximum crystallisation as rapidly as possible for that type of product.
Only air, nitrogen or carbon dioxide may be used as the cryogenic medium in contact with the food
Global IQF Fruits Market - Impact of Covid-19 Pandemic
The increasing demand of packaged and convenience food products in recent times has resulted in inability to maintain levels of supply. However, rising demand for IQF fruits owing to rising use in of natural fruits in food and beverages industry during Covid-19 pandemic is expected to stabilise the growth of the market after the end of 2020.