The market for individually quick frozen (IQF) fruit and vegetables will continue to grow with a double digit CAGR by 2025, due to increase use of the category in both foodservice and retail.
A new report by Future Market Insights (FMI) shows that convenience, price and popularity gains among consumers are the main drivers for IQF fruit and veggies growing by 2025. Concerning individual categories, IQF berries is expected to be the most dynamic segment in the forecast period, in terms of revenue contribution (strawberry, raspberry, blueberry and cranberry). Moreover, mango is expected to account for the healthy growth due to its high usage by dessert and juice manufactures. IQF vegetables is further sub-segmented as carrots, beans, peas, corn, potatoes, broccoli, cauliflower, with peas continuing to dominate the market.
“Globally, among all regions, North America is expected to account for the major market for IQF fruits and vegetables. The U.S. is expected to be the major revenue contributor in the IQF fruits and vegetables market followed by Canada. Moreover, Asia Pacific is expected to account for the double digit CAGR during the forecast period. This growth is attributed to the increased disposable income and rising inclination of the consumer, for more packaged and convenience food product across the region,” says FMI.