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Asia Pacific IQF Fruits And Vegetables Market

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Asia Pacific IQF Fruits and Vegetables Market was worth USD 1.53 billion in 2016 and estimated to be growing at a CAGR of 6.2%, to reach USD 2.07 billion by 2021.
Asia Pacific IQF Fruits And Vegetables Market to Reach $2.07 Billion by 2021
The Asia Pacific IQF Fruits and Vegetables Market was worth USD 1.53 billion in 2016
and estimated to be growing at a CAGR of 6.2%, to reach USD 2.07 billion by 2021.
Individual quick freezing (IQF) is a technology through which fresh fruits and vegetables
freeze at very low temperature (-30°C to - 40°C). This process enables to preserve fresh
fruits and vegetables for a longer period of time even more than a year maintaining the
same colour, flavour, and texture till it lasts. IQF fruits and vegetables are stored at low
temperature or in the refrigerator. IQF technology is ideal for preserving seasonal fruits and
vegetables. IQF fruits and vegetables comprise same nutritional value after freezing as it
possesses in a fresh form which is supporting its growth worldwide. Also, easy storage
properties and availability at a low price are expected to drive the demand for IQF fruits and
vegetables across the globe.
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The frozen fruits and vegetables market in the world contributes a meager percentage to
the total consumption of fruits and vegetables. In the developed markets like Europe and
US, frozen vegetables are 10% to the total vegetable consumption. In the underdeveloped
and developing markets, its share is much lower. However, in the recent years, this
category has gained importance due to some basic advantages it offers in comparison to
fresh fruits and vegetables. With a strong back up from the technological innovations, the
advantages of frozen fruits and vegetables have made it much more reachable and
affordable to the consumers around the globe.
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Market Segmentation
Type
Introduction
Fruits
Berries
Bananas
Mango
Apple
Papaya
Pineapple
Kiwi
Others
Vegetables
Carrots
Beans
Peas
Corn
Potato
Broccoli
Cauliflower
Distribution
Introduction
Retail Outlets
Online Stores
Hypermarkets
End Users
Introduction
Hotels/Catering
Food Manufacturers
The major factors affecting the Asia Pacific IQF Fruits and Vegetables Market include the
fast-paced modern lifestyles that have led consumers to look for easy and hygienic fruit
products that eliminate the conventional hassles of cleaning and chopping fresh fruits. Other
factors include growing inclination towards healthy food, technological advancements in
packaging and longer shelf life. Moreover, increasing demand for food manufacturers for
preserving food product for a longer period so that they could use it as an ingredient in their
final product is also fuelling the demand of IQF fruits and vegetables market during the
forecast period. As for the restraints, there are none except for the slight difficulty in
manufacture.
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The Asia Pacific IQF Fruits and Vegetables market is broadly classified by Type into Fruits
which include Berries, Bananas, Mango, Apple, Papaya, Pineapple, Kiwi and Others and
Vegetables which include Carrots, Beans, Peas, Corn, Potato, Broccoli, Cauliflower and
Others, by Distribution into Retail Outlets, Online Stores and Hypermarkets and based on
End Users Hotels/Catering and Food Manufacturers. Based on geography, the Asia-Pacific
market is divided into India, China, South Korea, Japan and Australia. Asia-Pacific is
expected to grow rapidly in the coming years as is evident from the high CAGR value for the
region. In addition to having the highest growth rate, the region also has the third highest
market share. The rapid growth of the region can be attributed to the developing stature of
countries such as India and China.
The Asia Pacific IQF Fruits and Vegetables Market is highly competitive with a large
number of players. Key market players dominating the market with their products are
SunOpta Inc, Fruktana Ltd, Capricorn Food Products India Ltd., Breukers Schamp Foods,
Alasko Foods Inc, AXUS International LLC, Rasanco Ltd and Nimeks Organics among
others.
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