PUBLISHER: 360iResearch | PRODUCT CODE: 1500242
PUBLISHER: 360iResearch | PRODUCT CODE: 1500242
[190 Pages Report] The Individual Quick Freezing Market size was estimated at USD 21.74 billion in 2023 and expected to reach USD 23.03 billion in 2024, at a CAGR 6.09% to reach USD 32.90 billion by 2030.
The individual quick freezing (IQF) is a freezing technology that rapidly freezes individual food items to preserve their quality, taste, texture, and nutritional value. A growing population requires efficient food preservation techniques such as IQF to limit wastage while ensuring food security. The utilization of IQF technology is increasing to maintain quality and extend shelf life without compromising on nutritional content. However, high capital investments associated with installing, maintaining, and upgrading freezing equipment in production facilities may impact the use of IQF in end-use sectors. Moreover, technological advancements in IQF technology can improve production efficiency and are expected to encourage its deployment in the end-use sectors globally.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 21.74 billion |
Estimated Year [2024] | USD 23.03 billion |
Forecast Year [2030] | USD 32.90 billion |
CAGR (%) | 6.09% |
Regional Insights
The IQF market is evolving in the Americas due to growing consumer preference for convenience foods and the rapid expansion of restaurants and cafes. Well-established cold-chain infrastructure, which supports the growth of the frozen food industry, is also driving the growth of the IQF market in the Americas. European countries are witnessing a rising trend in frozen food consumption due to busy lifestyles followed by urban populations that prefer convenience without sacrificing the taste or nutritional value of food products. In the Middle East and Africa regions, there is an increasing demand for frozen products due to rapid urbanization and expanding retail networks. Growing consumer awareness regarding the quality and safety of frozen products is driving demand for IQF in the APAC region. Besides, introducing innovative IQF technology to improve the quality of food products and reduce energy consumption is anticipated to propel its use across the global end-use sectors.
Market Insights
The market dynamics represent an ever-changing landscape of the Individual Quick Freezing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Individual Quick Freezing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Individual Quick Freezing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Mantinga Partners with Starfrost to Expand Production Capacity with High-Performance Spiral Freezer System
Mantinga has partnered with Starfrost to enhance its production capacity by implementing a high-performance spiral freezer system. This cutting-edge system enables individual quick freezing, ensuring superior product quality and extended shelf life. Additionally, this advanced technology enhances product consistency and optimizes downstream processes. With the integration of the new system, Mantinga is well-equipped to meet the rising demands of its customers while maintaining the highest standards of quality and efficiency. [Published On: 2023-07-28]
Keistone Partners Buys Hansung Green Factory for USD 30.7 million
Keistone Partners has acquired control of Hansung Green Factory Co., the country's leading individual quick freezing (IQF) food provider, for USD 30.7 million. Following the acquisition, Keistone Partners plans to launch its value creation program (VCP) to consolidate the company as the number one player in the local IQF refrigeration market. [Published On: 2023-06-23]
GEA Opens North American Technology Center For Food Processing and Packaging
GEA North America Technology Center for Food Processing has expanded its state-of-the-art food processing and packaging Technology Center in Frisco, Texas. This facility expansion aimed to expand and upgrade its offering to include recent food processing and packaging innovations. [Published On: 2022-10-09]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Individual Quick Freezing Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Individual Quick Freezing Market, highlighting leading vendors and their innovative profiles. These include Air Liquide S.A., Air Products and Chemicals, Inc. by Evonik Industries, B.Y. Agro & Infra Ltd., CARSOE A/S, CRYO systems by Chart Industries, Cryogenic Systems Equipment Inc. by Matheson Tri-Gas, Inc., DSI Dantech A/S, Empire Freezing & Drying, LLC, GEA Group, Hems Infratech Pvt. Ltd., Industrial Refrigeration Pvt. Ltd., JBT Corporation, Linde PLC, Mayekawa Mfg. Co., Ltd., Metro Refrigeration Industries, Natural Storage Solutions Pvt. Ltd., OctoFrost Group, Orangefreezing Solutions B.V., PANASONIC CORPORATION, Paradise Fruits Frozen, PATKOL Public Company Limited, RODA INTERNACIONAL CANARIAS, S.L, Starfrost (UK) Ltd., and The Messer Group GmbH.
Market Segmentation & Coverage