PUBLISHER: The Business Research Company | PRODUCT CODE: 1425489
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425489
Fruit And Vegetable Ingredients Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fruit and vegetable ingredients market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fruit and vegetable ingredients? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fruit and vegetable ingredients market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Fruit and vegetable ingredients are derived from a variety of fruits and vegetables and are subsequently utilized in diverse food and beverage applications. These ingredients play a crucial role in the production of various food products, including soft drinks, alcoholic beverages, dairy items, snacks, and more. Tailored for food applications, they are designed to ensure optimal quality and stability concerning color, flavor, texture, and nutritional content.
The primary types of fruit and vegetable ingredients encompass concentrates, NFC (not-from-concentrate) juices, pastes and purees, as well as pieces and powders. Concentrated fruit and vegetable ingredients are employed to enhance the flavor, color, texture, and nutritional profile of the end products. Concentrates consist of potent and flavorful liquid concentrates that are easily pourable and have an extended shelf life after the removal of water from the fruit or vegetable juice. Nature provides both organic and conventional fruit and vegetable ingredients, categorized for use in bakery products, confectionery items, dairy products, ready-to-eat (RTE) products, soups and sauces, beverages, and various other applications. This diverse range of ingredients ensures versatility in meeting the specific requirements of different food and beverage formulations.
The fruit and vegetable market research report is one of a series of new reports from The Business Research Company that provides fruit and vegetable market statistics, including fruit and vegetable industry global market size, regional shares, competitors with a fruit and vegetable market share, detailed fruit and vegetable market segments, market trends and opportunities, and any further data you may need to thrive in the fruit and vegetable industry. This fruit and vegetable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fruit and vegetable ingredients market size has grown strongly in recent years. It will grow from $221.27 billion in 2023 to $234.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historical period can be attributed to increasing health awareness, the clean label movement, efforts to enhance flavor and taste, a rise in vegetarian and vegan diets, and the evolving preferences of consumers.
The fruit and vegetable ingredients market size is expected to see strong growth in the next few years. It will grow to $304.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be attributed to the increasing demand for natural food additives, ongoing innovation in product development, the popularity of convenient and ready-to-eat solutions, the expansion into global markets, and the evolving dietary patterns of consumers. Key trends expected in the forecast period encompass global culinary fusion, a focus on sustainable sourcing and production, the prominence of convenience and snacking trends, the rise of functional foods and ingredients, and the growing adoption of plant-based and vegan diets.
The surge in demand for plant-based foods is a key driver propelling the growth of the fruit and vegetable ingredients market. Plant-based foods, made primarily from whole or minimally processed plant parts, have witnessed increased popularity, especially amid the COVID-19 pandemic. Consumer preferences have shifted towards wholesome foods, including those with fruit and vegetable ingredients, driven by a desire to enhance immunity and overall wellness. The trend is further amplified by the increasing awareness of veganism, leading consumers to opt for plant-based or vegan foods that incorporate fruit and vegetable ingredients known for their rich nutritional values. The growth in retail sales of plant-based substitutes in the U.S. and the rising demand for vegan meal delivery underscore the market's momentum, driven by the demand for plant-based foods.
Rising income levels are anticipated to contribute to the growth of the fruit and vegetable ingredients market. As disposable personal income increases, consumers are more likely to prioritize healthier and premium food options, driving the demand for products that incorporate diverse and nutritious vegetable components. The positive correlation between rising income levels and the preference for healthier food choices creates opportunities for the fruit and vegetable ingredients market to cater to evolving consumer demands. The data from the Bureau of Economic Analysis, indicating an increase in disposable personal income in the U.S., highlights the potential impact of rising income levels on the market's growth.
Product innovation stands out as a key trend in the fruit and vegetable ingredients market, with major companies focusing on developing new and innovative products. Product innovation allows companies to stay relevant to consumer needs, enhance existing offerings, and introduce unique ingredients that align with changing preferences. The collaboration between Koa Switzerland and Valrhona, resulting in the creation of Oabika, exemplifies this trend. Oabika, made from cocoa pulp concentrate, introduces a distinct aroma and flavor to various applications, showcasing the potential for innovative fruit and vegetable ingredients in diverse food products.
Major companies in the fruit and vegetable ingredients market are strategically introducing vegetable proteins for pets to gain a competitive advantage. The trend involves incorporating plant-derived protein sources into pet food products, providing essential amino acids and nutritional benefits. BENEO GmbH's launch of a toolbox of high-quality, non-GMO vegetable proteins for pet food reflects the industry's response to the growing demand for balanced and higher-quality pet nutrition. This approach aligns with changing standards and trends in the pet food industry, mirroring those observed in human nutrition, and positions companies to tap into the evolving preferences of pet owners.
In July 2023, Dohler Group, a prominent food processing company based in Germany, successfully completed the acquisition of SVZ International B.V. for an undisclosed sum. This strategic move is geared towards enhancing Dohler's portfolio by incorporating a broader range of natural red fruit and vegetable ingredients. Simultaneously, the acquisition is expected to bolster Dohler's global market presence, with a specific focus on expanding operations in the USA and Japan. SVZ International B.V., headquartered in Denmark, specializes in providing liquid fruit and vegetable ingredients tailored for the food and beverage industry.
Major companies operating in the fruit and vegetable ingredients market report are AGRANA Beteiligungs-AG, Archer Daniels Midland Company, Tate & Lyle PLC, Olam International Limited, Ingredion Incorporated, Cargill Incorporated, Dohler GmbH, Sensient Technologies Corporation, SunOpta Inc., Diana Food SAS, SVZ Industrial Fruit & Vegetable Ingredients Inc., Kanegrade Ltd., FruitSmart Inc., Milne Fruit Products Inc., Tree Top Inc., Welch Foods Inc., Frutarom Industries Ltd., Givaudan SA, Symrise AG, Firmenich SA, International Flavors & Fragrances Inc., Takasago International Corporation, Mane SA, Kerry Group PLC, Taura Natural Ingredients, Paradise Fruits Solutions GmbH, Van Drunen Farms, and Kiril Mischeff Ltd.
North America was the largest region in the fruit and vegetable ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fruit and vegetable ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fruit and vegetable ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fruit and vegetable ingredients market consists of sales of powders and NFC juices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.