Technology has always been the backbone of the frozen food industry, and latest developments bring more value to all parties involved. As there are several techniques that can be used to obtain the right balance between costs and output, manufacturers now have plenty of machines to choose from.
One of the technologies that companies appeal to more often is the Individual Quick-Freezing (IQF), and this generates a market that is forecast to reach USD23.1bn by 2025, growing at a CAGR of 6.0% during 2020-2025. Increasing demand for the frozen food items along with the development and expansion of food retail chains are the major factors driving the growth of the market, according to a report by IndustryARC. Growth in consumer demands for storage of perishable food and increase in demand for non-seasonal food products is set to further enhance the overall market demand of individual quick-freezing market during the forecast period 2020-2025. North America dominates the individual quick freezing market with a share of more than 42%, followed by Europe. This is mainly owing to the increasing number of fixed investments in various technologies of food processing by various individual quick freezing equipment manufacturers and exposure to consumer preference for new taste and flavors.
In North America, individual quick freezing market is increasing with the increase in number of population along with the changing food preferences and tastes among people of different age groups. Increasing availability of non-seasonal food commodities and growing consumer demands for ready to eat meals is likely to aid in the market growth of Individual quick freezing market.
On the other hand, strict regulations associated with the food safety and the massive environmental concerns regarding greenhouse emissions is poised to create hurdles for the individual quick freezing market. The Food and vegetables segment held the largest share in the individual quick freezing market in 2019 owing to the easy accessibility and affordability to the shoppers. Consumers are moving towards hygienic and no chemically altered fruits and vegetables products owing to the chopping and cleaning. Individual quick freezing helps in the retention of food quality and extends the storage life of food whose water content is high in the retention of food quality. Rising consumer preference towards longer shelf-life, healthy food and technological innovations in packaging is set to additionally fuel the expansion of the individual quick-freezing fruits and vegetable market. Fruits & vegetables is estimated to be the fastest growing segment in the forecast period 2020-2025.
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