Global IQF Vegetable Market Report and Forecast 2024-2032

Global IQF Vegetable Market Outlook

The global IQF vegetable market size reached approximately USD 1.94 billion in 2023. The market is projected to grow at a CAGR of 4.9% between 2024 and 2032, reaching a value of around USD 2.98 billion by 2032.

Key Trends in the Market

IQF is an abbreviation used for “Individually Quick Frozen”, which is a method used for fruits and vegetables to be kept frozen at a very low temperature, usually between -30°C to -40°C. Unlike the traditional cold storage method, it helps prevent the formation of large ice crystals, keeping the product safe and fresh with the nutrients locked.

• The global IQF vegetable market demand is propelled by the increasing prevalence of fast-food or quick-serve restaurants. With the diversification of food menus and increasing utilisation of seasonal and regional ingredients, IQF vegetables have been particularly beneficial for fast food restaurants. IQF technology ensures that vegetables retain their quality and freshness even after extended periods of storage. It also helps restaurants reduce food waste, minimise the need for frequent restocking, and maintain consistent ingredient quality.

• One of the primary IQF vegetable market trends is the increasing attention towards health and nutrition. Due to the growing awareness among consumers about the loss of nutrients in processed foods, there is a heightened demand for minimally processed foods and products. IQF vegetables stand out as an excellent option for health-conscious individuals as they are flash-frozen when fully ripe, maintaining maximum freshness and retaining a substantial portion of their original nutrients.

• Another key factor influencing the IQF vegetable market growth is the frequent innovations in IQF technology. From airflow, power regulation, and movement improvements, IQF has developed many iterations, each improving and taking advantage of the strengths of its predecessors.

Rolling wave technology is one of the major advancements in IQF processes. This technology utilises liquid nitrogen and carbon dioxide as its main freezing medium. Instead of submerging the products in chilling solutions, it employs a bedplate system, which makes it suitable for delicate products such as seafood.

Market Analysis

Based on the product, the market can be segmented into broccoli and cauliflower, corn and baby corn, peas, beans, carrots, tomatoes, and onions, among others. The global IQF vegetable market segmentation, based on nature, includes conventional and organic. Based on end use, the market can be bifurcated into commercial and residential.

The market, based on distribution channels, includes online stores, supermarkets/hypermarkets, and business to business(B2B), among others. The major regional markets for IQF vegetables are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global IQF vegetable market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Uren Food Group Limited

• Meyer Vegetable Processing GmbH

• Brecon Foods Inc.

• Staple Dairy Products Ltd.

• Cardinal Foods, LLC

• J.R. Simplot Company

• Western Hill Foods Ltd.

• Red Oak Foods, LLC

• Capricorn Food Products India Limited

• B.Y. Agro & Infra Ltd.

• Others

Market Share by End Use

According to the global IQF vegetable market analysis, the commercial sector is likely to be a major consumer of IQF vegetables over the forecast period. These food products are high in demand as the technology helps in the preservation of shape, colour, and flavour of the original product. As a result, these vegetables are extensively utilised in the food sector as they save preparation time, reduce waste, and ensure consistent quality in dishes. They are also used in the production of speciality foods catering to specific dietary requirements, such as gluten-free or vegan products.

Market Share by Distribution Channel

Business to business (B2B) is expected to be the major channel for distribution in the global IQF vegetable market share in the coming years. The development of this segment is mainly attributed to the growing product demand from food businesses and their need to eliminate intermediaries in the supply chain. The convenience and time-saving benefits offered by IQF technology align perfectly with the fast-paced nature of the food service sector.

IQF vegetables provide a ready-to-use solution, eliminating the need for labour-intensive tasks like washing, peeling, and chopping fresh produce. Moreover, they maintain a high level of quality and freshness, ensuring consistency in the taste and appearance of dishes.

Competitive Landscape

Uren Food Group Limited is one of the major players in the food and beverage sector, located in the United Kingdom. The company was founded in the year 1895 and since then has developed expertise in the sourcing, processing, and distribution of fruit, vegetable, and dairy ingredients. The company is especially known for its business with frozen fruits, fruit purees, fruit concentrates, IQF (Individually Quick Frozen) fruits, and vegetables.

Cardinal Foods is one of the key domestic manufacturers, marketers, and distributors of traditional, speciality and value-added fruit and vegetable ingredients. Since its establishment in the year 2017, the company has been distributing IQF products and frozen puree, while also providing services related to cold storage and logistics.

Brecon Foods Inc. is a global food supplier, operating with its headquarters located in Quebec, Canada. The company specialises in the sales of frozen fruits, vegetables, proteins, and dairy products. It also delivers products in various formats such as whole, sliced, diced, and other forms according to the client's needs.

Other key players in the IQF vegetable market include Meyer Vegetable Processing GmbH, Staple Dairy Products Ltd., LLC, J.R. Simplot Company, Western Hill Foods Ltd., Red Oak Foods, LLC, Capricorn Food Products India Limited, and B.Y. Agro & Infra Ltd., among others.

Key Highlights of the Report