NEW YORK , June 17, 2022 /PRNewswire/ -- As per Zion Market Research study, The global IQF vegetable market was valued at roughly USD 4.94 billion in 2021 and is expected to increase to nearly USD 6.98 billion by 2028, with a CAGR of around 4.6 percent throughout the forecast period.
Key Industry Insights & Finding of the IQF Vegetable Market Reports:
As per the analysis shared by our research analyst, the IQF Vegetable Market is expected to grow annually at a CAGR of around 4.6 % (2022-2028).
Through the primary research, it was established that the IQF Vegetable Market was valued approximately USD 4.94 Billion in 2021 and is projected to reach to roughly USD 6.98 Billion by 2028.
Major factors such as strong supply and distribution channels of vegetables in Canada & the US, rapid adoption of advanced technologies, and expansion of frozen food market are contributing to the market growth in North America region.
Europe is estimated to hold the second-most position in the market and this is majorly attributed to the growing demand for IQF vegetables, an increase in demand for food products with longer shelf life, and increase in demand from food manufacturers.
A rise in demand for IQF vegetables is been witnessed in the food and beverage industry as they can be stored for a longer duration and used as raw material in the final food products.
Zion Market Research published the latest report titled as "IQF Vegetable Market By Type, (Broccoli & Cauliflower, Corn & Baby Corn , Peas, Beans, Carrot, Tomato, Onion, Potato, And Others) By Nature, (Conventional And Organic), By Distribution Channel (Online Store, B2B, Supermarket/Hypermarket, And Others), By End-User (Residential And Commercial), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
Individually Quick Frozen vegetables, or IQF vegetables, are fresh vegetables that are been frozen one at a time. This process of fast freezing helps to maintain the final product's freshness and quality. IQF is a strong food preservation technique that offers several benefits over traditional methods of freezing. Individual quick freezing not only speeds up the procedure, but also ensures that an IQF vegetable retains its form, color, and flavor longer than traditional freezing. Traditional frozen veggies lose their nutritional value faster than IQF vegetables. For individuals who prefer the convenience of frozen vegetables without sacrificing quality or taste, IQF vegetables are a perfect choice.
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IQF Vegetable Market : Growth Drivers
IQF vegetables' longer shelf life is expected to expand the market growth.
Due to the technology utilized in the manufacture, processing, and storage of frozen food, it has seen an increase in demand. The capacity to securely keep vegetables and fruits for extended periods of time when kept at particular temperatures has been enhanced by IQF technology. IQF technique employs nitrogen to freeze every single vegetable unit, whereas cold storage methods regulate moisture. IQF vegetables have a shelf life of a few weeks to months, based on the source, enabling storage without fear of deterioration. Fast freezing, which transforms all liquid to a frozen form without destroying vegetable cells, is used in IQF techniques to provide vegetables with an extended shelf life. Thus, the longer shelf life of IQF vegetables is propelling the growth of the market. In addition to this, growing preference for frozen food, rise in disposable income, and easy availability of IQF vegetables in hypermarkets/supermarkets, as well as online platforms, are some of the factors that are fostering the growth of the global IQF vegetable market.
Pathogen risk in IQF vegetables is likely to restrain the growth of the market.
Bacteria and viruses have been found in frozen vegetables and fruits in Japan and certain countries in North America . The Listeria monocytogenes bacterium made headlines throughout the globe after IQF vegetable items were recalled. Bacterial contamination is a problem in the United States and China as a result of high pollution levels. Every year, most manufacturers in the United States recall IQF vegetable goods owing to a Listeria monocytogenes epidemic. Listeria monocytogenes is a pathogenic bacterium that causes listeriosis, a disease that kills an estimated 300 people per year throughout the world. Thus, growing concerns of the consumer regarding the risk of pathogens in IQF vegetables may hamper the growth of the market.
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Global IQF Vegetable Market : Opportunities
Advancement in the technologies is predicted to boost the market during the forecast period.
A rise in demand for IQF vegetables is been witnessed in the food and beverage industry as they can be stored for a longer duration and used as raw material in the final food products. Thus, key players in the market are investing majorly in the technologies used for instant quick freezing and upgrading the current features. Additionally, the wide adoption of IQF over water injection freezing technology to reduce the cost of logistics may also create ample growth opportunities for the market during the forecast period. Furthermore, the growing emphasis on the development of novel packaging & promotions, rapidly growing retail industry, and busy lifestyle of the people are also some of the key aspects that are likely to drive the global IQF vegetable market during the forecast period.
Global IQF Vegetable Market : Challenges
Volatilized nature of the moisture in the food may be a major challenge for the market expansion.
Food must be divided and frozen while using IQF, therefore the surface area vulnerable to freezing rises proportionately. It has the potential to dehydrate the meal and acidify the fat. When food that was moist before freezing turns dry after freezing, water vapor in the air adheres to the frozen food, leading to frosting on the food surface. Because the freshness of the food impacts the taste and flavor at this time, more care should be used before freezing. Thus, the volatilized nature of the moisture in the food is estimated to act as a challenge to the expansion of the market.
Global IQF Vegetable Market : Segmentation
The global IQF vegetable market is divided based on type, nature, distribution channel, end-user, and region.
Based on type, the market is classified into broccoli & cauliflower, corn & baby corn, peas, beans, carrot, tomato, onion, potato, and others. By nature, the market is split into conventional and organic. The distribution channel segment is classified into online stores, B2B, supermarkets/hypermarkets, and others. Residential and commercial are the segments characterized under end-user.
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List of Key Players of IQF Vegetable Market :
B&G Foods Holdings Corp
Capricorn Food Products India Ltd
Key questions answered in this report:
What are the growth rate forecast and market size for IQF Vegetable Market ?
What are the key driving factors propelling the IQF Vegetable Market forward?
What are the most important companies in the IQF Vegetable Market Industry?
What segments does the IQF Vegetable Market cover?
How can I receive a free copy of the IQF Vegetable Market sample report and company profiles?
By Product Type, By Application, and By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
B&G Foods Holdings Corp, Cardinal Foods LLC, J.R. Simplot Co., Capricorn Food Products India Ltd, Dole Food Co., Pinnacle Foods, Inc., Greenyard NV, Uren Food Group Limited, Kerry Group Plc., and ConAgra Foods, Inc among others.
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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North America is expected to hold a major share in the global market.
Among the regions, North America is likely to hold the largest share in the global IQF vegetable market during the forecast period. Major factors such as strong supply and distribution channels of vegetables in Canada & the US, rapid adoption of advanced technologies, and expansion of frozen food market are contributing to the market growth in this region. Europe is estimated to hold the second-most position in the market and this is majorly attributed to the growing demand for IQF vegetables, an increase in demand for food products with longer shelf life, and increase in demand from food manufacturers. On the other hand, the market in Asia Pacific is likely to grow at the fastest CAGR value during the forecast period.
Global IQF Vegetable Market is segmented as follows:
IQF Vegetable Market : By Type Outlook (2022-2028)
IQF Vegetable Market : By Nature Outlook (2022-2028)
IQF Vegetable Market : By Distribution Channel Outlook (2022-2028)
IQF Vegetable Market : By End User Outlook (2022-2028)
IQF Vegetable Market : By Region Outlook (2022-2028)
Rest of Middle East & Africa
Press Release For IQF Vegetable Market : https://www.zionmarketresearch.com/news/global-iqf-vegetable-market
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