Fruit & Vegetable Processing Market Share to Increase at Wide Pace, According to Research
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With a CAGR of around 6.5% between 2023 and 2030, the global fruit & vegetable processing market is expected to expand from its 2022 valuation of USD 8.5 Billion to a 2030 valuation of USD 14.1 Billion.
The transformation of fresh fruits and vegetables into goods that are not only more handy but also more shelf-stable and have a longer shelf life is what is known as fruit and vegetable processing. Processing can be done in a variety of ways, including freezing, canning, drying, or juicing the product. The global market for the processing of fruits and vegetables is expanding as a result of an increase in customer demand for foods that offer more convenience, changing lifestyles, and rising health consciousness among consumers.
Key Insights
A number of different causes are driving growth in the market for fruit and vegetable processing. To begin, the preferences of today's consumers are shifting, which has resulted in an increase in the demand for processed fruits and vegetables. Customers are showing a growing interest in purchasing ready-to-eat, convenient food products that are not only nutritious but also have a longer shelf life. Second, the increase in urbanisation and hectic lifestyles has resulted in a move towards packaged and processed foods. This transition has been brought about by the food industry. Finally, the expansion of the market has also been driven by the numerous health benefits that are associated with the consumption of fruits and vegetables.
The market for the processing of fruits and vegetables can be divided up into a number of different product categories, including canned fruits and vegetables, frozen fruits and vegetables, dried fruits and vegetables, and a few more (including juice concentrates and purees). The market is broken down into several categories, the first of which is canned fruits and vegetables, followed by frozen fruits and vegetables. It is anticipated that the segment of the market that consists of canned fruits and vegetables will continue to dominate the market because of the growing demand for items that are both handy and stable over time.
The market for the processing of fruits and vegetables can be segmented according to geography into the following five regions: North America, Europe, Asia Pacific, the Middle East and Africa, and South America. The market for the processing of fruits and vegetables is greatest in Europe, followed by the North American market and the Asia-Pacific market. It is anticipated that the Asia Pacific region will experience the largest CAGR growth rate due to the region's expanding population, rising per capita disposable income, and increased demand for foods that can be prepared quickly.
Conagra Brands, Inc., Dole Food Company, Inc., Del Monte Pacific Limited, Nestle S.A., H.J. Heinz Company, The Kraft Heinz Company, JBT Corporation, and The Kroger Co. are some of the prominent companies that are active in the market for fruit and vegetable processing. These businesses are concentrating their efforts on the introduction of new products, mergers and acquisitions, as well as partnership arrangements, in order to increase their market share and bolster their position in the market.
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In recent years, there has been a growing trend towards natural and organic food items. This tendency is expected to continue. Food products that do not include any chemicals, preservatives, or other additions are becoming an increasingly desirable commodity among consumers. The demand for organic and natural fruit and vegetable processing goods is anticipated to increase over the next several years as a direct result of this trend.
Nonetheless, the market for processing fruit and vegetables is currently confronted with a variety of difficulties. One of the most significant obstacles is the growing worry over the implications that eating processed meals may have on one's health. Consumers are gaining a greater awareness of the detrimental impacts on their health that are connected with eating an excessive amount of processed foods, including obesity, diabetes, and heart disease. Because of this, there has been an increase in demand for fresh fruits and vegetables, which are seen as being more beneficial to one's health than processed foods.
The availability of raw materials is just another difficulty that the industry that processes fruit and vegetables must contend with. This sector is extremely reliant on the supply of fresh fruits and vegetables, which is susceptible to fluctuations as a result of both the climate and other external causes. Because of this, there is a potential for pricing and supply swings, both of which can have an effect on the profitability of processing enterprises.
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Fruit & Vegetable Processing Market: Opportunities
Greater awareness of health provides a lucrative opportunity
The desire for organic, fresh, and exotic fruits and vegetables is driving the growth of the fruit and vegetable processing industry. Customers want premium goods with unaltered nutritional, mineral, and calcium qualities. The industry for processing fruits and vegetables is being driven by changes in people's eating habits over the past several years and the rising popularity of veganism. Due to their affordability and ease of availability, the presence of retail and e-commerce platforms has further fueled the industry for processed fruits and vegetables.
In conclusion, the global market for the processing of fruits and vegetables is expanding as a result of shifting consumer preferences, rising health consciousness, and an increasing desire for foods that are convenient to prepare. It is anticipated that the market will keep expanding over the course of the upcoming years, with the growth being driven by the rising demand for processed fruits and vegetables in developing nations. Yet, the business is also confronted with a number of obstacles, such as the adverse health impacts that are connected with the consumption of processed foods and the accessibility of raw materials. In order to maintain their position as market leaders, the companies already operating in this sector will need to place a greater emphasis on innovation, product development, and building strategic relationships.