Press release
IQF Fruits Market Set to Cross $ 14.8 Bn by 2026
The global health and wellness trend will continue to influence the demand for IQF fruits, with global revenues expected to reach close to US$ 8.0 Bn in 2016. Rising awareness on the potential impact of artificial additives and ingredients is playing a key role in shaping up consumer behaviour, with uptake of natural and organic products witnessing an upsurge. Demand for IQF fruits will especially be strong in bakery and confectionary sector, where IQF is gaining traction over other preservation methods, such as canning or drying. Nestlé will continue to be the largest buyer segment in the global IQF fruits market.
Demand for IQF fruits will also be positively influenced by increasing industrial demand for IQF fruits as a raw material. Rising adoption among dairy companies and pet food producers is also anticipated to drive the growth of the global IQF fruits market.
By product type, strawberry will continue to hold dominant revenue share; however, blueberry revenues are expected to witness strong year-over-year growth. In terms of revenue, the strawberry segment is expected to reach US$ 578 Mn in 2016, whereas blueberry revenues are anticipated to increase at a y-o-y growth of about 10%. Increasing demand for berries as an ingredient in smoothies will continue to support the growth of the market in 2016 and beyond.
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IQF fruit revenues in North America, the largest market for IQF fruits, are expected to reach about 870 thousand tonnes in 2016, witnessing a y-o-y growth of 5.9% over 2015. Rising awareness, increasing purchasing power, and availability of a wide range of flavours will continue to propel the growth of the market in North America. Western Europe will maintain its position as the second-largest market for IQF fruits in 2016, with the market valued pegged to reach 1.3 Bn. Demand for IQF fruits in Eastern Europe is anticipated to witness a decrease owing to market saturation.
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Key players in the global IQF fruits market include IQF fruits suppliers and customers. IQF fruits suppliers include Uren Food Group Ltd., Dirafrost Frozen Fruit Industry NV., Inventure Foods, Inc., SunOpta Inc., Cal Pacific Specialty Foods, Capricorn Food Products India Ltd., Rosemary & Thyme Limited, Milne Fruit Products Inc., Ravifruit (Kerry Group), Frutex Australia Pty Ltd., Venus Processing and Packaging Limited (Sympli), SICOLY Cooperative, Shimla Hills Offerings Pvt. Ltd.. IQF customers profiled in the report include Nestlé S.A, Parmalat S.p.A., Danone, Fonterra Co-operative Group Limited, FrieslandCampina N.V., Arla Foods AMBA, Dean Foods, Saputo, Inc., Coca-Cola Company, PepsiCo, Inc., Mondelez International, Inc., Hindustan Unilever Limited, General Mills, Inc., Fraser and Neave Limited and Dairy Farmers of America.
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