IQF vegetable gross sales develop 4.5% CAGR as demand for wholesome meals with longer shelf lives continues to rise: Future Market Insights in Newest Survey
According to a study by FMI, the global IQF vegetable market is expected to have a valuation of 1,560.1 million in 2021.
According to FMI, the growth prospects for the market remain positive due to improvements in the global infrastructure of the food supply chain. The global IQF vegetable market grew by 2.8% in the historical period from 2016 to 2020. IQF potato products are expected to become the top-selling product category and account for 20% of the global market in 2021.
The advancement of food preservation technology has encouraged key players to expand their product portfolios. As the demand for convenience food increases, the sales outlook for IQF vegetables will improve.
Consumers are increasingly demanding simple, hygienic vegetable products that can help reduce the conventional effort involved in cutting and cleaning fresh vegetables. As more people focus on better food quality, the key players in the IQF market have lucrative opportunities to take advantage of it.
The demand for IQF vegetables is increasing as consumers seek foods that are superior in nutritional value, taste and quality. However, the market is expected to face constraints due to the lack of a strong distribution network and supply chain.
North America is expected to lead the IQF global vegetable market due to the flawless vegetable supply chains in Canada and the US
“Innovations in freezing technologies such as the introduction of IQF freezing and cold store freezing are gaining momentum. This offers attractive opportunities for the most important players in the world market from which they can benefit. In addition, the availability of advanced technologies will help them expand their entire product portfolio, ”says an FMI analyst.
The central theses
- The demand for food will increase in the coming years. FMI predicts that this category will have a market share of 73% by 2031.
- Potato is the most preferred vegetable and is expected to hold 23.4% of the market in 2021. The segment is expected to grow at a CAGR of 4.2% through 2031 as it is one of the staple foods worldwide.
- The UK market is expected to grow by 2.7% CAGR in value from 2021 to 2031 and add over 10% to the European vegetable market in 2031.
- Japan is expected to have a 5.5% market share by value in 2021. The presence of some of the leading private label brands will further fuel demand in the market.
- The French IQF vegetable market is expected to represent 14.8% of the European market by 2031. The diverse and sophisticated retail distribution system will continue to support the expansion in France.
- The decline in traditional family meals and the increasing prevalence of single-serving products due to the active lifestyle of the core family are expected to fuel demand for IQF vegetables.
- IQF vegetables are growing in popularity as they are known to be a convenient and healthy source of processed foods. They are often used in meals and as complementary foods.
- The ability to maintain the nutrients, texture and taste of vegetables over a long period of time is an important factor in IQF vegetable acceptance.
- The COVID-19 outbreak in low and middle income countries has negatively impacted IQF vegetable sales.
- The risk of pathogens such as Listeria monocytogenes bacteria is expected to hamper market growth as buyers are concerned about the infection and possible side effects.
Explore tables and figures from the study. Ask an analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-3378
The global market for IQF vegetables is benefiting from the latest technological advances. Players invest in research and development to expand their product portfolio and consumer base.
For example, Fine Food, based in Turkey, acquired the machines in the SORTEX FA series from Bühler in order to expand its production capacity while at the same time concentrating on sales and export requirements.
REMS Frozen Foods was presented in March 2021. The company is ready to import frozen food ingredients specializing in IQF in Eastern Europe, Egypt, USA, Spain and China.
The key players in the IQF Global Vegetable Market as per FMI profile are:
- B&G Foods Holdings Corp.
- Capricorn Food Products India Ltd
- ConAgra Foods, Inc
- Dole Food Co.
- Greenyard NV
- JR Simplot Co.
- Kerry Group Plc.
- Pinnacle Foods, Inc.
- SunOpta Inc.
- Uren Food Group Limited
Further insights into the IQF vegetable market:
FMI provides an unbiased analysis of the IQF Vegetable market, presenting historical demand data (2016-2020) and forecast statistics for the forecast period from 2021-2031. The study offers compelling insights into the global IQF Vegetable Market with a detailed segmentation based on:
- Corn and baby corn
- Broccoli and cauliflower
- Bakery, confectionery & snacks
- Other non-alcoholic drinks
- North America
- Latin America
- East asia
- South asia
Key Questions Covered in the IQF Vegetable Market Report
- The report offers detailed insights into the outlook for IQF vegetable demand for 2021-2031
- The market study also highlights the projected sales growth for the IQF vegetable market between 2021 and 2031
- The IQF Vegetable Market Survey identifies key growth drivers, restraints, and other forces affecting the prevailing trends, assessing the current market size, and technological advances in the industry
- IQF Vegetables market share analysis of the major companies in the industry and reporting on strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, and others