Meticulous Research®—a leading global market research company, published a research report titled, ‘Fruit and Vegetable Ingredients Market by Category (Fruit, Vegetable), Type (Pieces, Powders, Concentrates, Purees, Paste), Nature (Organic, Conventional), and Application (Beverages, Bakery, Dairy, Soups, Sauces, Savory) - Global Forecast to 2030’.
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According to this latest publication from Meticulous
Research®, the global fruit and vegetable ingredients market is projected to
reach $294.5 billion by 2030, at a CAGR of 5.5% from 2023 to 2030. The growth
of the fruit and vegetable ingredients market is mainly attributed to the
growing demand for natural ingredients, the wide range of benefits of fruits
& vegetable ingredients in the food & beverage industry, and the rising
demand for RTE & RTD products. Furthermore, growing demand for functional
food products and emerging economies are expected to create market growth
opportunities. However, fluctuating raw material prices and problems associated
with storage and material handling hinder the growth of this market to some
extent.
The fruit and vegetable ingredients market is segmented by
category (fruit ingredients and vegetable ingredients), type (concentrates,
pieces & powders, NFC juices, paste & purees, and other types), nature
(organic and conventional), application (beverages, bakery & confectionery
products, dairy products, soups & sauces and savory & prepared food
products, and other products), and geography (North America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa). The study also
evaluates industry competitors and analyzes the market at regional and country
levels.
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Among all the categories studied in this report, the fruit
ingredients segment is expected to account for the largest share of the global
fruit and vegetable ingredients market in 2023. The large market share of this
segment is attributed to factors such as the ease and widened adoption in
various applications, low cost, and easy availability in various forms.
Among all the types studied in this report, the concentrates
segment is expected to dominate the global fruit and vegetable ingredients
market. The dominant position of this segment is mainly attributed to high
adaptability in beverages and other applications offering a favorable taste,
flavor, improved quality, and convenience. Also, minimized costs and limited
logistical hassles support the growth of this segment.
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Among all the natures studied in this report, the organic
segment is slated to register the highest CAGR during the forecast period. The
rapid growth of this segment is attributed to factors such as increasing demand
for organic food and beverages, the growing trend of sustainable & natural
food, and rising awareness about clean-label products. Additionally, organic
ingredients are perceived to be safer and healthier as they are free from any
chemicals and pesticides, which further supports the growth of this segment.
Among all the applications studied in this report, the
beverages segment is expected to dominate the global fruit and vegetable
ingredients market. The large share of this segment is mainly attributed to the
growing awareness of health benefits related to natural flavors in beverages,
new product development & launches of beverages, rising demand for organic
beverages, and growing popularity of flavored soft drinks. Also, the growing
demand for health and sports drinks with enhanced nutritional value is expected
to support the growth of this segment.
Among all the regions studied in this report, in 2023,
Europe is expected to account for the largest share of the fruit and vegetable
ingredients market. The large market share of this region is attributed to
factors like rising consumer demand for healthier and natural products, growing
consumption of ready-to-eat food and beverage products with high nutritional
value, and growing health and wellness concerns. Also, product launches with
free-from, organic, and clean-label claims further augment the growth of this
region.
Key Players
The global fruit and vegetable ingredients market is
characterized by a moderately competitive scenario due to many large and
small-sized global, regional, and local players. The key players operating in
the global fruit and vegetable ingredients market are Archer-Daniels-Midland
Company (U.S.), Olam International Limited (Singapore), Cargill, Incorporated
(U.S.), AGRANA Beteiligungs-AG (Austria), Hans Zipperle AG/S.p.A. (Italy),
Döhler GmbH (Germany), Ingredion Incorporated (U.S.), SunOpta (U.S.), SVZ International
BV (Netherlands), and KangMed, Inc. (China).
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