GLOBAL IQF FRUITS MARKET REVENUE EXPECTED TO INCREASE TO US$13.4 BN BY 2028

On the basis of fruit type, the red fruits and berries segment is expected to maintain its dominance in the IQF fruits market, with a significant CAGR of 5.1% during the forecast period. The increasing tendency for developing countries to adapt to food trends has resulted in the worldwide growth of faster-to-prepare food products resulting in the increased consumption of IQF fruits.

The global IQF fruits industry has grown up to US$ 7,821.5 Mn in 2017. The IQF method for IQF Fruit sends each food item on a type of conveyor belt into a blast-freezer, which freezes the product very rapidly.

Developing countries such as India, South Africa, and Brazil offer great opportunities for the global IQF fruits industry to expand; however, infrastructural challenges such as shortage of power and poor roads in these countries are restraining the growth of the IQF fruits industry.

Europe has many importers, but the IQF fruits market is consolidating. Supermarkets are increasingly organizing incorporated supply chains with a limited number of favored dealers or service providers. Larger importing dealers will also often act as food service providers to superstores, capitalizing on added-value services like ripening, packaging, and mixing.

In the last five years, the maximum growth in the import value of IQF fruits was observed in frozen berries (7%). Though, traditionally, the highest quantities of IQF fruit berries are supplied from Southeast European nations and Poland, there is constant development of manufacturing in other emerging regions such as Latin American countries, Mexico, and China.

The global market is allocated into different sales channel, with superstores being the most imperative sales channel for IQF Fruits consumers and online concepts as a new development in fresh produce.

The APAC region is expected to register the highest growth rates between 2018 and 2028, and is also expected to gain significant share in the IQF fruits market in terms of value in the years to come. According to market attractiveness, North America and Europe are relatively more attractive markets in the IQF fruits market.