Fruit Concentrates Market Size | Share, Industry Strategic Analysis, Demand, Suppliers and Forecasts 2023
Fruits and Vegetables Ingredients Market Global Research Report by Category (Organic and Conventional), Form (Concentrates, Pastes & Purees, NFC Juices, Pieces & Powders and others), Application (Bakery and Confectionery, Beverages, Dairy and Frozen Dessert, Soups, Sauces & Dressings, Sweet and Savory Snacks, and others) and Region (North America, Europe, Asia-Pacific, and the Rest of the World) - Forecast till 2024
Market Scenario
Fruits and Vegetables Ingredients Market is projected to register a growth rate of 5.12% from 2019 to 2024 to reach a market value of USD 220.75 billion by the end of 2024. The growing demand for natural ingredients in food & beverage industries is fuelling the growth of the fruits and vegetable ingredients market, globally.
Rapid urbanization is leading to the adaptation of packaged and ready-to-eat food such as baked products, confectionery items, soups, and juices, which is boosting the market for fruits and vegetable ingredients. The rapid expansion of packaged food processing companies is expected to accelerate the demand for fruits and vegetables, which is further influencing the growth of fruits and vegetables ingredients market. These factors, together, are expected to catalyze the market growth of fruits and vegetable ingredients during the forecast period.
Latest Industry Updates
Nov 2017 Archer Daniels Midland Company (ADM) launched Nutriance, a range of innovative wheat protein concentrates.
Aug 2017 Archer Daniels Midland Company (ADM) launched multiseed concentrate. The new concentrate comprises of five different seeds; brown and golden linseeds, sunflower, pumpkin, and poppy seeds. Through this product launch, the company aims to expand its product portfolio.
May 2017 Agrana Group acquired Saikrupa Fruit Processing Pvt. Ltd., an Indian company, and formed an establishment of Agrana Fruit India Private Ltd. The acquisition is in line with company’s strategy to expand its business in Asian region.
Dec 2016 Agrana Group acquired 100% of the shares of in Main Process S.A., an Argentina based company. The acquisition is in line with the company’s strategy to expand its business in South America region.
Global Fruit & Vegetable Ingredients Market Competitive Analysis
The fruit & vegetable ingredients market is highly fragmented with many major and local players competing to gain a substantial market share. Majority of the companies are following both organic and inorganic strategy to attract potential customers and minimize local competitions. For instance, Agrana Group acquired Saikrupa Fruit Processing Pvt. Ltd., an Indian company, and formed an establishment of Agrana Fruit India Private Ltd. The key players are emphasizing more in the research & development process in order to introduce new product, and also to extend the product line. For instance, Archer Daniels Midland Company (ADM) launched Nutriance, a range of innovative wheat protein concentrates in 2017 to further strengthen its product portfolio.
The key players profiled in fruit & vegetable ingredients are Archer Daniels Midland Company (U.S.), Olam International Ltd. (Singapore), Sensient Technologies Corporation (U.S.), Kerry Group PLC (Ireland), Sunopta, Inc. (Canada), Diana Group S.A.S. (France), and Döhler (Germany) among many others.
Global Fruit & Vegetable Ingredients Market Segments
The global fruit & vegetable ingredients market has been divided into type, source, application, and region.
On The Basis Of Type: Concentrates, Pastes & Purees, NFC (Not From Concentrate) Juices, Pieces & Powders, and Others
On The Basis Of Source: Fruits, Vegetables
On The Basis Of Application: Breakfast Cereals, Functional Food & Beverages, Animal Feed, Pharmaceuticals, and Others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
Global Fruit & Vegetable Ingredients Market Regional Analysis
The global Fruit & vegetable ingredients market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these European region has the major market share. Emerging markets like India and China have been considered as potential markets for fruit & vegetable ingredients due to adoption of healthy lifestyle, changing dietary patterns, increasing disposable income, and low labor cost.