IQF Vegetable Market: IQF Technology is the Next Big Disruption in the Frozen Vegetable Industry
Future Market Insights projects that such factors will instrument a steady growth in global consumption of IQF vegetables. By the end of 2026, more than 25 thousand tonnes of IQF vegetables will be sold across the globe, bringing in revenues worth over US$ 2,000 Mn.
Future Market Insights’ report, titled “IQF Vegetable Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” estimates that the global market for IQF vegetables is presently valued over US$ 1,288.3 Mn, recording global sales of a little over 16,900 tonnes of IQF vegetable in the world. However, in terms of volume and value, the global IQF vegetable market is expected to showcase a moderate growth over the forecast period.
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The report also reveals that out of prominently-consumed IQF vegetables in the world, IQF potatoes, tomatoes and broccoli & cauliflower will remain in great demand. Although, peas are expected to be observed as top-selling vegetable in the global market, registering fastest revenue growth at 5.8% CAGR.
Over 70% of global IQF vegetable revenues are anticipated to be accounted by food applications. During the forecast period, the demand for IQF vegetable in food production is expected to gain traction. Towards the end of 2026, close to 60% of global IQF vegetable revenues accounted by food applications will be accounted by cooking food applications. Among the beverage applications of IQF vegetables, juices are expected to dominate global revenues by the end of 2026.
Large population coupled with preference towards frozen food and high disposable income contributed to a large share of U.S. in IQF vegetable market. Around 71% of vegetables sold in U.S. are in frozen form due to knowledge of frozen food and high income of individuals in the country. Many developing countries such as India and Russia are following the footsteps of U.S. and people living in these countries started preferring frozen vegetables.
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Key findings in the report currently indicate Western Europe as the largest market for IQF vegetable in the world. However, the region will witness a marginal decline in its market share towards the end of 2026. North America’s IQF vegetable market is also expected to show a sluggish revenue growth at 2.2% CAGR.
Capricorn Food Products India Ltd. is trying to increase the production of IQF vegetables from their existing facilities located in India. ConAgra Foods Inc. is continuously buying small scale IQF vegetable manufacturers of China to increase the supply and reduce the prices
In 2015, Dole Food Co. and Pinnacle Foods Inc. imposed a collective company share of nearly 25% on global IQF vegetable market. Other key players of global IQF vegetable market include B&G Foods Holdings Corp., Greenyard NV, J.R. Simplot Co., Kerry Group Plc., SunOpta Inc., and Uren Food Group Limited.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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