The Global Fruit & Vegetable Ingredients Market: Trends, Growth, and Key Players
Ngày đăng: 20-12-2023 |
Ngày cập nhật: 20-12-2023
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.
