The Fruit And Vegetable Ingredients Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fruit And Vegetable Ingredients Global Market Report 2024, The fruit and vegetable ingredients market size has grown strongly in recent years. It will grow from $221.27 billion in 2023 to $234.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to health awareness, clean label movement, flavor and taste enhancement, rise in vegetarian and vegan diets, shifting consumer preferences..
The fruit and vegetable ingredients market size is expected to see strong growth in the next few years. It will grow to $304.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising demand for natural food additives, innovative product development, convenience and ready-to-eat solutions, expansion in global markets, changing consumer dietary patterns.. Major trends in the forecast period include global culinary fusion, sustainable sourcing and production, convenience and snacking trends, functional foods and ingredients, plant-based and vegan diets..
The increase in demand for plant-based foods is expected to propel the fruit and vegetable ingredients market. Plant-based foods are primarily made of whole or minimally processed plant parts, such as grains, nuts, seeds, and other whole or unprocessed foods such as fruits and vegetables. Consumer behavior has changed significantly due to the COVID-19 epidemic toward more wholesome foods to increase immunity, which aids in battling the virus. Consuming these fruit and vegetable ingredients, which offer various nutritional advantages, could help consumers attain their increased focus on overall wellness. The increasing awareness of being vegan among consumers is growing as consumers depend on plant-based foods or processed vegan foods that have fruit and vegetable ingredients with rich nutritional values. For Instance, In January 2022, according to the Good Food Institute, a US-based non-profit organization, retail sales of plant-based substitutes increased twice in the US in 2020. Additionally, sales of plant-based meat substitutes increased by 45%. Furthermore, according to Grubhub, a US-based food delivery firm, orders for vegan meal delivery increased by 17% in June 2021 compared to June 2020. The orders for plant-based burgers increased by 28%, while orders for vegetarian cuisine increased by 55%. Therefore, the demand for plant-based foods will drive the fruit and vegetable ingredients market.
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The fruit and vegetable ingredients market covered in this report is segmented –
1) By Type: Concentrates, NFC Juices, Pastes And Purees, Pieces And Powders
2) By Nature: Organic, Conventional
3) By Category: Fruits, Vegetables
4) By Application: Bakery Products, Confectionery Products, Dairy Products, RTE Products, Soups And Sauces, Beverages, Other Applications
Product innovation is the key trend in the fruit and vegetable ingredients market. Major companies operating in the food and vegetable ingredients market are focused on innovating new products to strengthen their market position. Product innovation allows businesses to remain relevant to their customers’ needs while developing and improving over time. For instance, In September 2021, Koa Switzerland, a Switzerland-based start-up company operating in the food and vegetable ingredients market, partnered with French-based chocolate manufacturer Valrhona to create Oabika. Oabika is a concentration made from the white pulp that coats and protects the beans in the cocoa pod. It is filtered, pasteurized, and gradually lowered to 72 degrees Brix to generate a 100% cocoa pulp concentrate. Due to its distinct aroma and flavor is used in various applications, including ganaches, jellies, sauces, glazes, ice creams, and others.
The fruit and vegetable ingredients market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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