Tag: Fruit & Vegetable Ingredients Market

Fruit & Vegetable Ingredients Market: Growth Drivers, Growing Segments and Forecasts

Fruit & vegetable ingredients market size was valued at USD 218.0 billion in 2022 and is projected to reach USD 280.9 billion by 2027, growing at a CAGR of 5.2% during the forecast period 2022-2027. The rising demand for better functional ingredients, developments in processed food, favorable functionalities of fruit and vegetable ingredients in various end-use industries and increasing use of clean label products are the major market drivers and opportunities that will influence the global fruit & vegetable ingredients market. Significant changes in the food & beverage processing industry over the last two decades have resulted in the high demand for packaged & processed food & beverage products.

Key Players

The key players in fruit & vegetable ingredients market include Cargill Incorporated (US), ADM (US), Ingredion, Tate & Lyle(U.K), DöhlerGmbH(Germany), Kerry(Ireland), Sensient Technologies(U.S), AGRANA Beteiligungs-AG(Austria), and SunOpta(Canada), etc.

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Europe accounted for the largest market share of 36.9%

In 2021, Europe accounted for a market share of 36.9% in the global fruit & vegetable ingredient market. The European fruit & vegetable ingredients market is completely driven by the German market. The German food & beverage processing industry accommodates the fruit & vegetable ingredients sector with a large consumer base with high purchasing power and good infrastructure for further processing. In the German market for fruit & vegetable ingredients, this growth is likely to be catapulted by the country’s attractive and competitive location factors, which are underpinned by an above average export rate of around 45% of the total exports. The market is characterized by its small- and medium-sized enterprise sectors. The largest industry segments, by production value, are confectionery, bakery products, and dairy products. Other growth segments are fueled by the health and wellness trend, which has led to increased demand for healthy food & beverage products.

Rising demand for sustainable products is rapidly growing fruit& vegetable ingredients market

Sustainability certification in the processed fruits & vegetables sector was once used to target niche markets (such as Fairtrade), but now sustainability claims and certification are one of the main trends in the mainstream market. The importance of sustainability created a new type of shopper – Eco-Actives. They are shoppers who are highly concerned about the environment and are taking action to reduce their waste.

Inclination of consumers towards healthier alternatives is boosting fruit & vegetable ingredients market

In recent years, consumers have become increasingly conscious of adopting a healthy diet. This has led to a higher demand for healthy snacks and, more specifically, fruits & vegetables, and the need for cleaner, more natural products. As fruits & vegetables are highly perishable, people are switching towards alternatives containing natural fruits & vegetables, which is driving the market for fruit & vegetable ingredients.

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The Global Fruit & Vegetable Ingredients Market: Trends, Growth, and Key Players

The fruit & vegetable ingredients market is flourishing, with an estimated value of USD 218.0 billion in 2022 and a projected CAGR of 5.2% to reach USD 280.9 billion by 2027. This growth is attributed to various factors such as the increasing demand for functional ingredients, advancements in processed food, the versatility of fruit and vegetable ingredients in different industries, and the rising popularity of clean label products. Significant transformations in the food & beverage processing industry have contributed to a heightened demand for packaged and processed food & beverage products.

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Rising Demand for Sustainable Products:

One notable trend shaping the market is the escalating demand for sustainable products. Sustainability certification, once confined to niche markets like Fairtrade, has now become a prominent trend in the mainstream market. The emergence of a new consumer group, known as Eco-Actives, underscores the importance of sustainability. These environmentally conscious shoppers actively seek products that align with their commitment to reducing waste.

Inclination Towards Healthier Alternatives:

The market is experiencing a boost due to the growing consumer inclination towards healthier alternatives. Increasing awareness of maintaining a healthy diet has led to a surge in demand for nutritious snacks, particularly those incorporating fruits and vegetables. As consumers prioritize cleaner and more natural products, the fruit & vegetable ingredients market is capitalizing on this trend.

Regional Dominance – Europe:

In 2021, Europe claimed the largest market share, accounting for 36.9% of the global fruit & vegetable ingredients market. The growth in the European market is primarily driven by Germany, where the food & beverage processing industry serves as a significant consumer base with robust purchasing power and excellent infrastructure for further processing. Germany’s appeal as a competitive location is bolstered by an impressive export rate, with approximately 45% of total exports. The fruit & vegetable ingredients market in Europe is characterized by a thriving small- and medium-sized enterprise sector. Key industry segments include confectionery, bakery products, and dairy products, while additional growth is fueled by the health and wellness trend, leading to increased demand for healthy food & beverage products.

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Key Players in the Market:

The fruit & vegetable ingredients market is dominated by key players such as Cargill Incorporated (US), ADM (US), Ingredion, Tate & Lyle (U.K), Döhler GmbH (Germany), Kerry (Ireland), Sensient Technologies (U.S), AGRANA Beteiligungs-AG (Austria), and SunOpta (Canada), among others. These players play a pivotal role in driving innovation, meeting consumer demands, and contributing to the overall growth of the market.

Conclusion:

The global fruit & vegetable ingredients market is on a trajectory of sustained growth, driven by consumer preferences for sustainability, healthier alternatives, and the evolving landscape of the food & beverage processing industry. As key players continue to innovate and adapt to market trends, the industry is poised to reach new heights in the coming years.