Vegetable Puree Market Overview
The global vegetable puree market is forecasted to create a valuation of USD 16.549 Billion by 2032, growing at 5.64 % CAGR during the review period (2022-2032). The surging demand for natural healthy food ingredients substantiates the market growth exponentially. Additionally, the increasing application of vegetable puree in nutritional drinks beverages, dairy frozen desserts, and soups, sauces, and dressings, boost the market size.
The global vegetable puree market share is growing pervasively. The market growth attributes to the growing application areas of vegetable puree across end-use industries. Rising usages of vegetable purees in the food processing industry drive enormous market demand. Also, the surging consumption of healthy juices and smoothies propel the sale of vegetable puree. Besides, the augmenting demand from the baby food and nutrition sector escalates the market demand to furthered height.
Also, the urge among millennial to consume new and exotic food products bolster the demand for exotic vegetable purees. Increasing demand to include vegetable purees in sports drinks, health supplements, and nutraceuticals boost market growth. The spurting rise in the demand for plant-based beverages drives the market share. Moreover, the growing trend of a vegan diet is also influencing the market growth.
Also, industry players invest substantially to bring more novelties in the product in terms of flavor betterment, and attractive packaging solutions. The expansion of distribution channels plays a causal role in the development of the market. The proliferation of large format retail, including supermarkets, hypermarkets, and online distribution channels, positively impacts market growth. Furthermore, rising R D investments in developing advanced processing techniques pay off well, increasing the market size.
On the other hand, fluctuating prices and the demand-supply gap in fresh vegetables around the globe are the major factors estimated to hamper the market growth. Also, the availability of various counterfeited, low-cost products in the market impedes the market growth over the review period. Nevertheless, increasing vegetable puree applications in ready-to-eat food products and the beverage industry would support market growth throughout the review period.
Global Vegetable Puree Market Competitive Analysis
Fiercely competitive, the global vegetable puree market appears fragmented due to the presence of many well-established players. Brand reinforcement, mergers acquisitions, and innovation remain popular trends for industry players in the market.
Major Players
Players leading the global vegetable puree market include Kanegrade Limited (UK), Ingredion Incorporated (US), SVZ International BV (Netherlands), Lemon Concentrate SL (Spain), Milne Fruit Products (US), Sun Impex International Foods LLC (UAE), FS Produce Company, Inc. (US), Place UK Ltd (UK), KB Ingredients (US), and Dhler GmbH (Germany), among others.
Global Vegetable Puree Market Segments
The vegetable puree market research is segmented into four dynamics;
By Type : Tomatoes, Carrot, Beetroot, Pumpkin, Peas, Spinach, Butternut Squash, Zucchini, Bell Pepper, and others.
By Category : Conventional and Organic.
By Application : Baby Nutrition, Beverages, Dairy Frozen Desserts, Soups, Sauces Dressings, and others.
By Regions : Asia Pacific, Americas, Europe, and the Rest-of-the-World.
Global Vegetable Puree Market -Geographical Analysis
Europe dominates the global vegetable puree market. The region accounted for 35.39% of the overall market share in 2018. The largest market share attributes to the sizable consumption of vegetable puree in functional foods and energy drinks. Besides, the growing per capita income and health fitness trend backed by the availability of world-class fitness and athletics infrastructure substantiate the market demand. Germany, Italy, and France are the major contributors to the growth of the market.
North America stands second in the global vegetable puree market. The market is driven by the growing consumption of vegetable purees in baby foods and sports nutrition products. Moreover, the growing pharmaceutical, health supplements, and nutraceutical industries in the region create enormous market demand. Furthermore, high disposable income and an increasing health-eccentric populace, alongside the rising media influence, positively impact regional market growth.
The Asia-Pacific vegetable puree market share is growing rapidly. Factors such as the rapidly growing economy and baby food industries in the region foster market growth. Moreover, rising demand from the rapidly growing sports drink sectors in India and China allows the regional market to witness exponential growth. Increasing consumption of vegetable purees in developing countries is another key factor driving the regional market.
Industry/ Innovation/ Related News:
September 17, 2022 ---- PS Snacks Company (the US), the snacks brand launched its vegetable-puree based pudding snack cups at the 2022 Natural Products Expo East. PS Snacks takes a radically unique ingredient approach to modernize nostalgic treats. The new plant-powered, paleo pudding innovation was showcased alongside the revamped PS Snacks line of chickpea-based cookie dough.
The pudding is Non-GMO Project Verified, and Paleo certified and free of gluten, grains, dairy, soy, refined sugars, and artificial flavors. With 50% less added sugar than other puddings in the market. PS Snacks drives a new wave of on-trend innovation as an unparalleled disruptor in the pudding set.
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