Fruit And Vegetable Ingredients Market Size To Rake USD 341.72 Bn By 2032

26 Mar 2024

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Table of Content

1. Market Overview 2. Regional Snapshot 3. Fruit And Vegetable Ingredients Market Report Scope 4. Market Dynamics 5. Recent Developments 6. Key Market Players

The global fruit and vegetable ingredients market size surpassed USD 227.98 billion in 2023 and is expected to rake around USD 341.72 billion by 2032, poised to grow at a CAGR of 4.60% from 2023 to 2032.

Market Overview

The fruit and vegetable ingredients market utilizes global manufacturing techniques that assist in preserving natural materials, often via natural methods such as fermentation, freezing, and exposure to sunlight. Root and vegetable elements are generally used in the food drive to supply the desired texture in end outcomes. Also, the taste and color of different types of meals are often attributed to the incorporation of fruit and vegetable ingredients. Incorporating fruit and vegetable ingredients in food enhances its flavor and appearance while providing nutritional benefits to people worldwide. These ingredients are beneficial for consumers' health. The market, which is a rich source of nutrition, contributes to the product's success in various countries. These ingredients are often minimally processed to provide a healthier option, as consumer preference is significantly shifting towards more nutritious food products.

Global fruit and vegetable ingredient market companies adopt effective strategies such as new product launches, developments, collaborations, and investments. This is due to changing customer tastes, and the companies aim to create products that cater to consumer preferences and offer a broader range of benefits to the food and beverage industries. The ultimate goal is to deliver high-quality products that meet customers' needs.

Regional Snapshot

North America dominated the global fruit and vegetable ingredients market in 2023. The North American region has experienced the highest compounded annual growth rate in recent years and is expected to maintain its dominant position in the market during the forecast period. The lifestyle of the individuals in this region, along with the high disposable revenue and expanded need for organic products, are some of the key factors driving the growth of the fruit and vegetable ingredients market. The food and beverage industry is experiencing a rising demand for fruit and vegetable ingredients such as concentrates, pieces, powder, purees, and pastes. This demand is due to the growing awareness among consumers about plant-based foods and the trend of veganism, which is driving the market growth in this region.

The outbreak of the pandemic has caused fear among consumers, leading to a significant shift towards nutritious and healthy food options that can help boost immunity and combat the virus. Consumers are now more focused on overall wellness, which can be achieved by consuming fruit and vegetable ingredients that offer many nutritional benefits.

During the forecast period, significant growth is expected in the European region. There has been a rise in the demand for plant-based food products in the food and beverage industries across various European countries, which is driving the growth of the fruit and vegetable ingredients market in this region. Various ingredients, including popular fruits like peaches, apples, oranges, and bananas, are widely used in this region.

The forecast predicts good growth for the Asia Pacific region as consumers increasingly seek healthy and natural foods to boost their immunity. As a result, the area has a rising demand for organic fruit and vegetable ingredients. The awareness of the benefits of consuming these ingredients is also rising. This trend, coupled with the growth in disposable income and improved lifestyles in countries such as Japan, India, China, and South Korea, is driving the fruit and vegetable ingredients market in the Asia Pacific region.

Fruit And Vegetable Ingredients Market Report Scope

Market Dynamics

Drivers

Increasing use of fruit and vegetable ingredients

Fruit and vegetable components are vital in many food products such as confectionery, bakery, and dairy products. They are suitable for various food and beverage applications, helping to enhance the appeal of the food items. Fruit and vegetable ingredients come in multiple forms, such as concentrates, puree, trim pieces, and other forms, and are widely used in the food and beverage industry. There is a growing demand for fruit and vegetable ingredients due to the ever-increasing need for raw components in the food drive.

Growing adoption of the plant-based diets

The increasing adoption of plant-based diets by many customers across the world is driving the fruits and vegetable ingredients market as they are examining healthy choices. The vegan trend is also boosting the market for fruit and vegetable ingredients. Plant-based food manufacturers are experiencing increased demand for these ingredients for various reasons. The high nutrient content associated with fruits and vegetables is driving the market. With more consumers opting for a health-conscious diet, there is a greater demand for other fruit and vegetable components. Consciously conscious customers try to maintain a healthy lifestyle by including such elements in their diet.

Manufacturing of organic products

Many developed countries have started producing organic fruit and vegetable ingredients, a significant market upgrade. These organic products cater to health-conscious consumers who are willing to spend more on food items that offer better nutritional benefits than conventional foods. There are more uses for fruit and vegetable ingredients beyond the food industry and their fancy usage. The nutraceutical industry is seeing great opportunities in the market. Significant players in the fruit and vegetable ingredients market are witnessing high demand for their products due to their extensive adoption in the food and beverages industry. These ingredients provide consumers with many health benefits and better taste, further driving up the demand for these products.

Restraints

Seasonal availability of fruits and vegetables

The availability of fruits and vegetables is highly dependent on the seasons. The market can face supply constraints during specific periods, leading to price fluctuations and reduced consumer availability. This seasonal nature of the market can pose a challenge to manufacturers and retailers, making it difficult to maintain consistent supply chains and meet consumer demand throughout the year.

Dependence on agricultural production

Agricultural production levels directly influence the growth of the fruit and vegetable ingredients market. Factors such as weather conditions, pest infestations, and disease outbreaks can significantly impact the yield of fruits and vegetables. These agricultural challenges can lead to supply disruptions, affecting the market's growth and profitability.

Opportunities

Technological advancements

Fruit and vegetable ingredients market is witnessing technological advancements that enhance the quality and functionality of fruit and vegetable ingredients. These advancements include the development of new processing techniques, using advanced analytical tools for quality control, and incorporating innovative preservation methods to extend the shelf life of these ingredients. These technological advancements not only improve the quality of the ingredients but also open up new avenues for their application in the food and beverage industry.

• In August 2023, Danish start-up UpFood added its upcycled ingredients technology, which leverages surplus food and vegetables to combat post-harvest food Waste, to the Spanish food production network Blendhub.

The inclination of consumers toward healthier alternatives

There is a noticeable shift in consumer preferences towards healthier food and beverage options. Consumers are increasingly concerned about the ingredients they consume and the nutritional content of the processed food and beverage products they purchase. This shift is driven by a rise in health-related problems, leading to a focus on consuming healthier food options to combat health issues. The trend towards non-GMO, organic, chemical-free, and clean-label products has opened up a broader scope for fruit and vegetable-based natural ingredients in the fruit and vegetable ingredients market. These ingredients are being used in place of artificial colors and flavors, catering to the growing demand for natural and healthy alternatives.

Recent Developments

• In Aug 2023, Earth & Wheat tackled fruit waste by launching a new variety of fruit boxes.
• In October 2022, the food industry is emphasizing the importance of reducing waste, creating high-quality food, and increasing shelf-life. This is potentially influenced by the UN’s message that the world is at risk of falling short of enough food to feed the expanding global population, which is anticipated to surpass 9.6 billion by 2050.
• In March 2022, Israeli start-up More Foods developed protein- and fiber-rich 'meaty' products from pumpkin and sunflower seeds.

Key Market Players

• AGRANA Beteiligungs-AG( Austria)
• ADM(U.S)
• Tate & Lyle(U.K)
• Balchem ingredient solutions (U.S)
• Cargill(U.S)
• Kerry Group(Ireland)
• Sensient Technologies Corporation(U.S)
• Symrise(Germany)
• Olam International(Singapore)
• Ingredion(U.S)
• Döhler(Germany))
• SunOpta Inc.(Canada)

Market Segmentation

By Type

• Fruits ingredient
• Vegetable ingredient

By Form

• Concentrates
• NFC Juices
• Pastes & Purees
• Pieces & Powders

By Application

• Bakery Products
• Dairy Products
• RTE Products
• Confectionery Products
• Soups & Sauces
• Beverages
• Other Applications (Dips, spreads, dressings, toppings, and puddings.)

By Nature

• Organic
• Conventional

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