by Fruit and vegetable ingredients find wide applications in food and beverage products owing to their health benefits. These ingredients such as concentrates, powders, and purees help enhance nutritional value, flavor, and texture of foods. Rising health awareness among people has increased the demand for functional and nutritious food products containing high amounts of fruits and vegetables. The global Fruit and Vegetable Ingredients Market is estimated to be valued at US$ 21.5 billion in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023-2027, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing demand for functional and nutritious food products is one of the major trends boosting growth of the fruit and vegetable ingredients market. People are shifting preference towards food products that offer additional health benefits other than basic nutrition. As a result, demand for food products containing high amounts of fruits and vegetables is on the rise. Fruit and vegetable ingredients like concentrates, purees and powders help manufacturers launch food products with enhanced nutrition and functional value. Rising health consciousness is prompting consumers to include more fruits and vegetables in their daily diets through food products made using fruit and vegetable ingredients. This growing demand is driving increased utilization of these ingredients by food companies.
SWOT Analysis
Strength: Fruit and vegetable ingredients offer numerous health benefits. They are a source of essential vitamins, minerals, antioxidants and fiber.
Weakness: The quality and nutrition of fruit and vegetable ingredients depends on farming practices. Pesticide residues and lack of uniform nutrition standards can be issues.
Opportunity: Rising health consciousness is driving greater demand for plant-based and clean label products. Fruit and vegetable ingredients allow manufacturers to formulate healthier options.
Threats: Volatility in crop yields and supply due to changing weather patterns can impact prices. High production and transportation costs pose pricing challenges.
Key Takeaways
The global fruit and vegetable ingredients market demand is expected to witness high growth.
North America currently dominates the market owing to rising demand for plant-based, clean label and nutritious food products. Europe is another major regional market supported by growth in functional food applications. Asia Pacific is predicted to be the fastest growing regional market in the coming years led by increasing health awareness, westernization of diets and rising disposable incomes in countries like China and India.
Key players
operating in the fruit and vegetable ingredients market are Archer Daniels Midland Company, Agrana, Dohler, Kerry, Olam, Symrise, Sensient Technologies, SunOpta, SVZ Industrial Fruit & Vegetable Ingredients, The Food Source International, Tree Top, and YAAX International. Consolidation activities among these players is expected to intensify in the foreseeable future
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
