ID: MRFR/F-B & N/1685-HCR | 110 Pages | Published By Harshita Gorade on April 2023
Fruit Vegetable Ingredients Market Size is anticipated to reach USD 236 Billion by 2027, registering a CAGR of 5.45% during 2019 to 2027
$236 Billion
5.45%
Europe
2019 to 2027
Fruit and Vegetable Ingredients Market Overview:
The fruits and vegetable ingredients market is projected to register a growth rate of 5.45% from 2019 to 2027 to reach a market value of USD 236 Billion by the end of 2027.Â
The demand for fruit and vegetable ingredients is likely to increase during the ongoing forecast period of 2019-2027. fruit and vegetable ingredients are used in the preparation of various food items like salads, main course items, Italian dishes, and desserts, as well. The government is investing in the research and development and collaborating with the key growth strategies taken up by the prominent market players of the region which will help in the revival of market operations during the forecast period ending in 2028.
COVID 19 Analysis
The fruit and vegetable ingredients market value faced many challenges and obstructions due to the unexpected arrival of the pandemic in 2019 and 2020. As a fatal disease, the healthcare system of many economies of the world collapsed as they were unable to curb the sudden spread of the pandemic which increased fatality and lead to deaths in the international market on a large scale. The arrival of the pandemic has imposed various questions like the quality of healthcare, availability of medical services, ingredients in various consumable items, and much more. However, the demand for healthcare services has increased in the period. The production and manufacturing vertices of other functional businesses are likely to be facing major functional problems. People are taking their health seriously and opting for healthier lifestyles followed by keeping a check on the fruit and vegetable ingredients market. The growing demand for fruit and vegetable ingredients was also affected due to the unavailability of products and the non-functionality of supermarkets and convenience stores is another cause of concern.
Market Dynamics
Drivers
The European nations are the largest importers of various kinds of fruits and vegetables worldwide. There has been a substantial rise in the trends that support the growth and expansion of the global market because of the rise in healthier life preferences and taste choices that are projected to have a positive impact on the market during the ongoing forecast period that will be ending in 2028. Hence, the production of various kinds of fruits and vegetables, as a part of the global market will rise which will result in the growth of the expected market as per the forecasted figures.
Restraints
One of the major factors that are limiting the market growth during the forecast period that will be ending in 2028 is that the market is witnessing a surge in alternative ingredient mentioning and packaging solutions. Also, the introduction of expensive fruits and vegetables for various consumer groups will present challenges for the global market. Also, food manufacturers functioning in the global market premises are facing processing issues that might change customer preferences during the forecast period ending in 2027.Â
Technology Analysis
There has been a prominent change in the change in eating patterns, habits, and preferences of people backed with the introduction of western culture has a lot of positive attributes for the market. Also, the global competitive market players are working in the production of items that do not need the use of extra sugar and salt content to target a larger audience. Hence, there is a major requirement of ingredients of these fruits and vegetables.
Study Objectives
Segment Overview
The fruit and vegetable ingredients market trends are prevalent across various global regions. The rising degree of demand pushes the development of the market segments to fulfill the demand and help the global market expansion and market size during the forecast period. The global market has been segmented based on the following factors:
Based on Type, the market is segmented as follows:
Based on Application, the market is segmented as follows:
Based on Category, the market is segmented as follows:
Based on Region, the market is segmented as follows:
Regional Analysis
The increased demand and consumption of various kinds of fruits and vegetables is being witnessed across the food industries that are functioning in the North American and European markets. Based on the geographical region, the fruit and vegetable ingredients market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Rest of the World (RoW). the European countries, especially the U.K., are likely to be emerging as the largest consumer of fruit & vegetable ingredients. Thus, the region is known to be accounting for the largest share in the fruit & vegetable ingredients market, followed by North America and Asia-Pacific. The Asia-Pacific region has further been projected to be the fastest-growing market with investments from key players in the market, especially in participating regions like China and India, due to their large fruit & vegetable ingredients production, low-cost labor, and lower fruit & vegetable ingredients prices amongst other important factors.
Competitive Landscape
The rising consumption of fruits and vegetables owing to the rising health concerns is pushing the companies to experiment and launch variations in the form of new textures and flavors, that compromise the ingredients and nutritional value. These factors predict a substantial increase in the fruit and vegetable ingredients market size during the forecast period. The players are mentioned as follows:
Recent Developments
Intended Audience
Report Overview
The market fruits and vegetable ingredients report discusses the market highlights and how the trends will be propelling in the period that ends in 2028. Both, the top-down and bottom-up approaches have been used to estimate and validate the size of the fruit and vegetable ingredients market and to estimate the size of various other dependent segments in the overall market. Key players in the market have been identified through secondary research like the FAO, Bloomberg, Factiva, companies’ annual reports, and their market shares in respective regions have been determined through primary and secondary research during the period. All percentage share splits, and breakdowns have been determined using secondary sources and were verified through primary sources have been mentioned.
Fruit and vegetable ingredients market valuation would be USD 220. 75 billion by 2024.
Fruit and vegetable ingredients market CAGR would be 5.12% during the forecast period.
Players report in the fruit and vegetable ingredients market report are Olam International Ltd. (Singapore), Archer Daniels Midland Company (U.S.), Sensient Technologies Corporation (U.S.), Ingredion Inc. (US), Tate & Lyle Plc (UK), Sunopta, Inc. (Canada), Grain Millers, Inc. (US), Kerry Group PLC (Ireland), Cargill Incorporated (US), Diana Group S.A.S. (France), Döhler (Germany), American Key Food Products Inc. (US), Roquette Frères (France), SensoryEffects Ingredient Solutions (US), Svz International B.V.(Netherlands), and others.
Europe would lead the fruit and vegetable ingredients market.
Asia Pacific would garner the maximum CAGR in the fruit and vegetable ingredients market during the forecast period.