Market Overview
The globalfruit and vegetable ingredients marketwas analyzed by Market Research Future (MRFR) and it is projected to register a growth rate of 5.45% by 2027 to reach a market value of USD 236 Billion. Fruit vegetable ingredients are goods or substances that are intended to enhance not only the visual appeal but also offers additional nutritional value to the diet. It imparts colors, aromas, textures, flavors, and improves the life span of the products by offering a multi-sensory experience on the same.With rising consumer awareness, heightening concern among consumers about health wellness and precise understanding of human nutrition, it has led to the improved management of nutrition consumption. Fruit vegetable ingredients are highly rich source of nutrition and includes fats, carbohydrates, minerals, proteins, and others, thereby aiding in reducing the risk of a number ofchronic diseases like cancers and cardiovascular disorder. These ingredients are extremely important for the human body as it provides both functional and economic value.
With rising urbanization and the increasing preference of consumers to lead a healthy life, increasing disposable income, favorable government initiatives to push the growth of the fruit and vegetable ingredients industry, and the surging demand for convenience food has proliferated the growth of the global fruit and vegetable ingredients market insights. The integration and consolidation of food and technology and nutraceutical organizations has prompted the emergence of new product developments and has improved the functionality. Add to this, the widespread prevalence of diseases across the globe has expanded the consumption rate of fruit vegetable ingredients.
Market Segmentation
The global fruit and vegetable ingredients market has been segmented in terms of type, source, and application.
By type, the market segments into pieces and powders, pastes and purees, NFC juices, and concentrates. Among these, the juice concentrate holds the biggest share of the global market due to the increasing consumption of juices.
By source, the market divides into fruits and vegetables.
By application, the market comprises bakery and confectionary products, soups and sauces, R.T.E products, dairy and dairy products, and beverages.
Regional Analysis
The global fruit and vegetable ingredients market trends is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
Europe leads the global market for fruit and vegetable ingredients. It is primarily because of the major growth the market has witness for processed food and beverage owing to the increasing intake of food and beverages items that contain ingredients sourced from fruits and vegetables.
In Asia Pacific, the fruit and vegetable ingredients market is reportedly growing with good opportunities available for the dairy and confectionary industries. The emerging nations herein, like China and India, are regarded as a highly lucrative fruit and vegetable market for a vast pool of factors including surging disposable income, low level of labor cost, changing dietary patterns, and increasing adoption of a fit and healthy lifestyle.
Competitive Landscape
The global key fruit and vegetable ingredients market players are Sunopta, Inc. (Canada), Olam International Ltd. (Singapore), Archer Daniels Midland Company (U.S.), Dhler (Germany) Sensient Technologies Corporation (U.S.), Kerry Group PLC (Ireland), and Dhler (Germany).
The global market for fruit and vegetable ingredients has been divided with major and local players that are competing to gain a major share over the market. Most of the companies are seen following both organic as well as inorganic strategies for reducing local competitions and attracting potential customers. Add to this, the prominent players of the market are giving increasing emphasis in the process of research and development (RD) in order to launch new and innovative products and expanding their product line.
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