Individual Quick Freeze (IQF) Fruits Market Is Expected to Account for US$ 14.8 Bn by 2026
MRRSE presents this most up-to-date research on "Global Market Study on Individual Quick Freeze (IQF) Fruits: North America to Remain the Largest Market with a Share of Close to 40% in the Global Market"
Albany, NY -- (SBWire) -- 01/10/2017 --In terms of value, the global IQF fruits market is anticipated to expand at a CAGR of 6.5% during the forecast period and is expected to account for US$ 14.8 Bn by 2026 end. Among all products in the frozen food industry, IQF fruits are projected to be the fastest growing segment over the forecast period (2016–2026). Blueberry is projected to be the fastest growing segment of IQF fruits over the forecast period, due to the rising demand for frozen blueberries from bakery and confectionery industries in various region across the globe. Out of the total IQF fruits, strawberry accounts approximately 45% of the volume and blueberry another 9-11% share.
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In the Asia Pacific (excluding Japan) region, IQF Blueberries held the largest market share of 45.0% in 2015. Revenue contribution of the segment to the APEJ IQF market is expected to increase at a CAGR of 10.2% from 2016 to 2026. In North America region, market share for blueberry segment is anticipated to fall from 41.2% in 2015 to 33.1% in 2026. This is due to the introduction of new fruit flavours of the products that use frozen fruits. In terms of value, blueberry segment in Western Europe IQF fruits market accounted for 51.1% share in 2015. The demand for frozen fruits in these countries rise mainly from baked breads, cakes, smoothies, beverages and other flavoured dairy products, such as frozen yogurt, ice cream, etc.
IQF Blueberry is the most expensive among the four fruits in North America and APEJ, and strawberry prices are expected to overtake blueberry by 2026.
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Global blueberry production grew by 9.7% from 2010 to 2014. The U.S. accounted for more than half of the market share of 54% in blueberry production in the year 2014. Mexico, despite of holding a small share of only 3%, has shown a significant increase in production in past 5 years and is outpacing other producing countries by a CAGR (2010 till 2014) of 97.7%. Global blueberry export volume stood at 165,478 tonnes or ~18% of the total production in 2014. However, imports volume stood at 192,947 tonnes in 2014. Global blueberry import volume increased at a CAGR of 14.0% over 2010–2014, as compared to production volume CAGR of 9.7%.
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The most commonly and commercially planted blueberry is the highbush that lives for up to 40-50 years. Lowbush live lesser, and also are also smaller in size as compared to highbush. Half high is the hybrid type, which is medium in size as compare to the other two. Blueberry plant starts bearing fruits after 4-5 years of plantation and harvesting can be done after 6 years. June to August is the most suitable time for harvesting blueberries. A blueberry plant is productive for 20 years or more. Blueberry bushes respond best to 16-8-8 (N-P2 O5 -K2 O), and some formulations are available with 4% added magnesium. These fertilisers are formulated keeping in mind the special needs of the blueberry and, thus, are extremely useful.
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