Individual Quick Freezing (IQF) Market worth 20.82 Billion USD by 2022
"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), and Region - Forecast to 2022". The global individual quick freezing market is estimated at USD 15.59 Billion in 2017 and is projected to reach USD 20.82 Billion by 2022, at a CAGR of 5.9% during the forecast period. The market is driven by factors such as growth in availability of non-seasonal food products.
The fruits & vegetables segment, by product, accounted for the largest market share in 2016.
The fruits & vegetables segment accounted for the largest market share in 2016. Fruit & vegetable consumption is essential to meet the daily nutritive requirements of the body. Asia Pacific, Africa, and Latin America are the key producers of fruits & vegetables. With the growing demand for frozen fruits & vegetables, a number of companies are manufacturing processing equipment along with freezing lines, which can process a wide range of products and provide extended shelf-life.
The spiral freezer segment, by equipment type, accounted for the largest market share in 2016.
The spiral freezer segment, by equipment type, in the individual quick freezing market accounted for the largest share in 2016. Spiral freezers are versatile systems that enable foods to be frozen individually or in batches. They have low operation costs as compared to carbon dioxide, nitrogen, and other freezers.
The freezing segment, by processing stages, accounted for the largest market share in 2016.
The freezing segment of the individual quick freezing market accounted for the largest market share in 2016. Freezing is a widely used method of food preservation, and can be carried out using a range of equipment that uses methods such as air-based freezing, indirect contact freezing, immersion freezing, and cryogenic freezing.
The North American region is projected to grow at the highest CAGR from 2017 to 2022.
The North American region is projected to grow at the highest CAGR during the forecast period. The countries covered in the North American region are projected to be the fastest-growing markets for individual quick freezing, due to the presence of large players such as JBT (US), Air Products and Chemicals (US), and Cryogenic Systems Equipment (US). Economic factors such as the increasing number of fixed investments in various technologies of food processing by various individual quick freezing equipment manufacturers and exposure to consumer preference for new taste and flavors are expected to drive this market for the next couple of years in North America.
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