IQF Vegetable Global Market 2024 – By Size, Share, Trends, Demand, Forecast To 2033 | B&G Foods Holdings Corp., Capricorn Food Products India Ltd., Greenyard NV

The iqf vegetable market size is expected to see strong growth in the next few years. It will grow to $3.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.  The growth in the forecast period can be attributed to innovation in product offerings, supply chain enhancements and logistics improvements, environmental sustainability initiatives, globalization and changing dietary habits, expansion of foodservice and ready-to-eat segments. Major trends in the forecast period include clean label and transparency, customization and blended offerings, expansion of ready-to-eat and frozen meal segments, innovations in packaging and freezing technologies, sustainability and reduced food waste.

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Segmentation & Regional Insights
The iqf vegetable market covered in this report is segmented –
1) By Product Type: Leafy Vegetables, Beans, Potato, Onion, Tomato, Other Types
2) By Nature: Conventional, Organic
3) By Distribution Channel: Online Stores, Supermarkets or Hypermarket, Business to Business, Other Channels
4) By End User: Commercial, Residential

North America was the largest region in the IQF vegetable market in 2023. Asia-Pacific is expected to be the fastest-growing region in the IQF vegetable market during the forecast period. The regions covered in the iqf vegetable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rise in demand for frozen foods is expected to propel the IQF vegetable market going forward. Frozen foods refer to food product preservation by use of rapid freezing and storing in the freezer until used. Freezing the food helps to stop the bacterial action that increases the shelf life of the product. IQF is a method that is used to freeze food products to keep them fresh by superior and faster food freezing. In IQF freezing technique, rapid freezing produces smaller ice crystals in the frozen meal that preserves the flavor and texture of the meal which might be harmed during the large ice crystals that form during slower freezing processes, hence people are more attracted towards the rapid freezing which are done from IQF process. For instance, in January 2023, according to the American Frozen Food Institute, a US-based national trade group for the frozen food business, between 2018 and 2022, retail frozen food sales increased by an astonishing $19.4 billion. Therefore, the rise in demand for frozen foods is driving the IQF vegetable market.

Key Industry Players
Major companies operating in the IQF vegetable market are adopting a strategic partnership approach aiming help to broaden plant-based product lines globally. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in December 2021, McCain Foods Limited, a Canada-based company specialising in IQF vegetables announced a partnership with Strong Roots. McCain Foods also invested $55 million in Strong Roots to acquire a minority share. The collaboration allows Strong Roots and McCain Foods to carry on assisting worldwide customer demand for healthy and organic foods. Strong Roots and McCain Foods intend to work together to capitalize on both companies’ complementary strengths to sustain Strong Roots’ rapid growth and further its mission to “fix the freezer aisle” offering plant-based, environmentally responsible, and positive food options for everyone – globally and impactfully. Strong Roots will continue to function independently. Strong Roots is an Ireland-based plant-based frozen food company.

The iqf vegetable market report table of contents includes:
1. Executive Summary
2. IQF Vegetable Market Characteristics
3. IQF Vegetable Market Trends And Strategies
4. IQF Vegetable Market – Macro Economic Scenario
5. Global IQF Vegetable Market Size and Growth
………………….
31. Global IQF Vegetable Market Competitive Benchmarking
32. Global IQF Vegetable Market Competitive Dashboard
33. Key Mergers And Acquisitions In The IQF Vegetable Market
34. IQF Vegetable Market Future Outlook and Potential Analysis
35. Appendix

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