September 13, 2021
According to the report titled ‘Global Individual Quick Freezing (IQF) Market by Equipment Type (Spiral and Tunnel), Processing Stages (Pre-processing, Freezing, and Packaging), Technology (Mechanical and Cryogenic), Product (Fruits & Vegetables and Seafood), Regional Forecasts 2021-2027’, available with Market Study Report, global individual quick freezing (IQF) market was worth USD 18.6 billion in 2020 and is slated to exhibit a yearly growth rate of 5.9% during 2021-2027, thereby accumulating USD 27.8 billion by the end of analysis period.
Increase in the sales of convenience food products, and strong consumer demand for perishable foods are catalyzing global individual quick freezing (IQF) market expansion. As per the recent data by Statista, German convenience food manufacturing sector generated revenues worth USD 4.83 billion in 2020, which is an increase compared to the total revenue of USD 4.61 billion in the previous year.
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Speaking of the negatives, rising environmental concerns associated with greenhouse emissions is posing a challenge for the market progress over the assessment period.
For the unversed, individual quick freezing (IQF) refers to a food processing technology which allows rapid freezing of individual pieces of food instead of bulk freezing.
By product, the market is bifurcated into fruits & vegetables, seafood, convenience food, dairy products, and meat & poultry. The segmentation of global individual quick freezing (IQF) market as per technology includes mechanical IQF, and cryogenic IQF. Based on processing stages, the industry is categorized as pre-processing, freezing, and packaging. Considering equipment type, the industry is segmented into spiral freezer, box freezer, tunnel freezer, and others.
Moving on to geographical ambit, North America, Europe, Asia Pacific, and Latin America are the key regions influencing the market dynamics. Among these, North America market is anticipated to record notable gains during 2021-2027, owing to high consumer demand for frozen food, and presence of major IQF equipment manufactures in the region.
Prominent players like Frutex Australia Pty Ltd., Rosemary and Thyme Limited, Brecon Food, Inc., Milne Fruits Products, Inc., SunOpta, Inc., Cal Pacific Specialty Foods LLC, Dole Packaged Foods LLC, Shimla Hills Offerings Pvt. Ltd., Capricorn Food Products India Ltd, and Venus Processing and Packaging Limited are profiled in global individual quick freezing (IQF) market report.