Global revenues could reach USD 8bn this year in the IQF fruits category, due to the global health and wellness trend, which continues to influence this market, according to new research by Persistence Market Research.
Demand for IQF fruits will also be positively influenced by increasing industrial demand as raw material. Rising adoption among dairy companies is also anticipated to drive the growth of the global IQF fruits market, according to the report, which also states that the potential impact of artificial additives and ingredients is playing a key role in shaping up consumer behavior, with uptake of natural and organic products witnessing an upsurge. Moreover, demand for IQF fruits will especially be strong in bakery and confectionary sector, where IQF is gaining traction over other preservation methods, such as canning or drying.
“The global IQF market revenues are expected to witness a CAGR of 6.5% during the forecast period 2016-2026. Global Individual Quick Freeze (IQF) Fruits Market Value may increase from USD 7.4bn in 2015 to USD14.8bn by 2026. Rising consumer awareness on health and wellness is expected to sustain the demand for IQF fruits during the forecast period. Advancement in IQF technology, combined with higher adoption in populous countries in Asia Pacific is expected to offer new growth avenues to manufacturers, while Nestlé will continue to be the largest buyer in this segment,” say PMR representatives.
For more information on this report, please click here