Rockville, MD, July 09, 2024 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, reveals in its recently updated research report that the global Individual Quick Freeze Fruit Market is estimated at a value of US$ 10.4 billion in 2024 and is forecasted to increase to US$ 18.44 billion by the end of 2034.
Individual quick freeze (IQF) technology is widely used in the food processing industry to freeze and preserve a fruit’s taste, texture, and nutritional content. This technology ensures each piece remains separate and maintains its quality. IQF fruits are extensively used in the making of desserts, jams, and sauces. Most busy individuals across the world prefer consuming ready-to-eat food products to save time. IQF fruits are particularly favored for the production of ready-to-eat food products due to their ability to offer similar taste, flavor, and nutrition. IQF fruits can also be easily integrated into breakfast meals, desserts, salads, and smoothies.
Unlike fresh seasonal fruits, IQF fruits are available year-round. Their long shelf life and high-quality flavor are driving IQF fruits’ consistent application in the food industry. Manufacturers are leveraging the growing demands of busy individuals and launching a wider range of fruits and blends.
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Key Takeaways from the Individual Quick Freeze Fruit Market Study:
- The global individual quick-freeze fruit market is projected to expand at a CAGR of 5.9% from 2024 to 2034.
- IQF red fruit and berry sales are forecasted to reach US$ 8.21 billion by 2034.
- Demand for individual quick-freeze fruits for use in the food industry is estimated at a valuation of $6.41 billion in 2024.
- The United States is projected to capture 45.4% of the North American market share by 2034.
- Sales of individual quick-freeze fruits in South Korea are forecasted to rise at a CAGR of 6.6% through 2034.
“Advancements in freezing and processing technologies set to enhance the quality of IQF fruits and drive market expansion over the coming years,” reveals a Fact.MR analyst.
Competitive Landscape
Leading companies dealing in individual quick freeze fruits are focused on the development of new offerings and blends tailored for specific applications. This is expected to open lucrative earning opportunities for industry giants. To streamline the major challenge related to the supply chain, prominent companies are collaborating with growers and distributors to improve their market penetration. Industry giants are also exploring untapped markets in developing regions such as Latin America, MEA, and Asia Pacific to increase their revenue sources.
- In November 2022, Roha Group in India acquired Saraf Foods, a freeze-drying food processing company.
Leading Players Driving Innovation in the Individual Quick Freeze Fruit Market:
Key players in the individual quick-freeze fruit industry are adopting a mix of organic and inorganic market strategies to expand their market reach and strengthen their positions. These strategies include innovative product launches, strategic partnerships with industry peers, collaborations with food research entities, and strategic mergers & acquisitions, all of which are contributing to the growth and profitability of leading companies.
For example, Pitaya Foods in the U.S. diversified its product portfolio beyond frozen fruits by launching ready-to-eat smoothie bowls in September 2023. Additionally, India's Nature's Touch acquired the frozen fruit operations of Sunrise Growers in October 2023.
Fact.MR's updated market report provides detailed insights into the pricing dynamics of major individual quick-freeze fruit producers worldwide, their sales growth trajectories, production capacities, and anticipated technological advancements.
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More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the global individual quick freeze market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on fruit type (red fruits & berries, tropical fruits, citrus fruits, others), end use (food industry, households, HoReCa, others), and sales channel (direct sales, indirect sales), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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