Portland, OR, Nov. 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global IQF fruits market generated $6.2 billion in 2021, and is projected to reach $11.8 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $6.2 billion |
| Market Size in 2031 | $11.8 billion |
| CAGR | 6.8% |
| No. of Pages in Report | 334 |
| Segments Covered | Fruit, End Use Industry, Sales Channel, and Region. |
| Drivers | Massive consumer spending on luxury food items and demand for convenience foods. |
| Surging demand for food with elongated shelf-life. | |
| Customer preference for veganism and use of IQF fruits in dairy products. | |
| Opportunities | The increase in working-class population and essential qualities of IQF fruits that guard them against spoilage during transportation and exposure to light & heat. |
| Restraints | Inappropriate storage and transport amenities in small retail stores across emerging economies. |
| Exorbitant costs of IQF fruits and lack of transport facilities, making distribution of IQF fruits to households difficult for vendors. | |
| Rural areas in developing regions such as India and China face storage, refrigeration, and power cut issues. |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had negatively affected the growth of the global IQF fruits market, owing to impact on the movement of IQF fruits due to lack of logistics & transportation activities during the pandemic.
- The COVID-19 pandemic substantially impacted the overall market growth as a result of trade restrictions imposed by various countries to curtail the spread of COVID-19 globally.
The report offers a detailed segmentation of the global IQF fruits market based on fruit, end use industry, sales channel, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
Based on fruit, the berries segment held the major market share in 2021, holding nearly one-fifth of the global IQF fruits market share. However, mangoes segment is expected to maintain its leadership status during the forecast period. Nevertheless, the prune segment, is expected to cite the fastest CAGR of 8.9% during the forecasted timespan.
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On the basis of end use industry, the food industry segment held the largest market share in 2021, accounting for nearly half of the global IQF fruits market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the retail segment, is expected to cite the highest CAGR of 8.0% during the forecast period.
In terms of sales channel, the direct sales segment held the major market share in 2021, contributing to nearly three-fourths of the global IQF fruits market share, and is expected to maintain its leadership position during the forecast period. However, the indirect sales segment, is expected to cite the fastest CAGR of 7.3% during the forecast period.
Based on region, the market across the North American region held the major market share in 2021, holding two-fifths of the global IQF fruits market share and is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific IQF fruits market is expected to cite the fastest CAGR of 8.3% during the forecast period. The report also analyses other regions such as Europe and LAMEA.
The key players analyzed in the global IQF fruits market report The Agrana Group, Alasko Foods Inc., AXUS International, LLC., Bs Foods B.V., Capricorn Food Products India Ltd, Danone SA, Himgiri Group, RDM International, Inc., SunLeaf Renewable Solutions LLP, and SunOpta, Inc.
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The report analyzes these key players in the global IQF fruits market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
