Introduction:
Frozen foods have high nutritional value and good quality product. In fact, some frozen vegetables such as corn, beans, green peas may be superior in flavor, and others are witnessing a rise in demand. The high quality of frozen food is mainly due to innovation and development of technology is known as individual quick-frozen (IQF) method. The ultra-cold, ultra-fast freezing methodology results in tiny crystal formation to freeze the product. Water turns into ice crystals around 30-25degree Fahrenheit or -1 to -4 degree Celsius and final product dose not frozen into solid form with maintain its quality. Furthermore, IQF technology is used for preservation of vegetable and vegetables-based products, food sustainability, vegetable transportation and others which is gaining popularity in food processing industry.
Segmentation:
IQF vegetables market segmented into product type, equipment type, processing stages, technology, distribution channel, end users, and region. Based on product type IQF vegetables market is classified into leafy vegetables, beans, potato, onion, tomato, broccoli, and others. Based on equipment type IQF vegetables market is categorized into spiral and tunnel. Based on processing stages IQF vegetables market is characterized into pre-processing, freezing and packaging. Based on technology IQF vegetables market is segmented into mechanical and cryogenic. Based on distribution channel IQF vegetables market is classified into supermarket, specialty market, online platforms, and others. Based on end users IQF vegetables market is categorized into consumer, food manufacturers, hotels and others. Based on region IQF vegetables market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
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Market Dynamics and Factor:
An increase the changing preferences towards frozen food, ready to eat food, longer shelf-life products and others due to fast lifestyles among population is witnessing the growth in demand for IQF technology for vegetables and vegetable-based products during forecast period. Additionally, IQF vegetables and vegetable-based foods are different from frozen food and they have some benefits which is helps to attract customers such as preservation, high nutritional product, cheap cost, availability in all season, and better quality which leads to trigger the market growth over forecast period. Furthermore, rapid urbanization, ease in food preparation, higher expenditure, and others are boosting the market growth. Moreover, the global market demand for IQF vegetables is growing due to the need to quickly and cumbersome transport of vegetables from procurement points to various distribution channel. Additionally, rising concern about health consumers are shifted towards the high nutritional and fresh vegetables, IQF vegetables retain their nourishment value as well as preserving the natural appearances which drive the demand for the IQF technology products worldwide with its easy to store and low-price features. In addition, there are opportunities in the form of various technological advancement in processing for better easiness and quality product, transparency in distribution channel and supply chain of vegetables which is expected to development in upcoming years. However, less awareness regarding IQF vegetables and the technology in undeveloped, and developing countries, government assistance with respect to campaigning, and less awareness and workshop by key players are hampering the market growth over forecast period.
Regional Analysis:
Geographically, IQF vegetables market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
In North America and Europe, consumer is highly preferred for nutritional vegetables and vegetables-based products due to increasing health awareness. The regions dominate the IQF vegetable market due to about 10% of the total vegetable consumption by the population in regions which is more than any other region. Additionally, presence of major key players being located in these regions such as B&G Foods Holdings Corp. (US), Uren Food Group Ltd (UK), Alasko Food Inc. (Canada), J.R. Simplot Co. (US), SunOpta Inc. (Canada) are also hastening market growth during forecast period.
Asia Pacific is expected to register the highest growth rate during forecast period owing to the high production of vegetables in the countries such as India and China along with increasing consumption of frozen vegetables in the food and beverages industry.
Latin America has immense scope for development due to increasing the awareness regarding nutritional and healthy product which is expected to rise demand in upcoming years.
The major countries in Middle East and Africa region such as UAE, Saudi Arabia, Egypt, and South Africa have the smallest market for vegetables and vegetables-based product also food processing industry when compared to other region, is expected to development in technology and rise in demand in future.
Key Players:
Some of the key players of IQF vegetables market are Kerry Group Plc. (Ireland), B&G Foods Holdings Corp. (US), Uren Food Group Ltd (UK), Greenyard NV (Belgium), ConAgra Foods Inc. (US), Capricon Food Products India Ltd (India), Alasko Food Inc. (Canada), J.R. Simplot Co. (US), SunOpta Inc. (Canada).
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Key Industry Developments:
In November 2019, B&G makes the giant-sized footprint in frozen food segments, the 200,000 sq foot Yuma, Ariz facility, which manufacturers more than 30 SKUs of Green Giant brand frozen vegetables and vegetable-based products.
In January 2020, ConAgra Foods Inc announced that they will strive towards making 100% of its current plastic packaging renewable, recyclable and compostable by 2025.
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