Fruit and Vegetable Ingredients Market Is Estimated to Witness High...

Fruit and Vegetable Ingredients Market Is Estimated to Witness High Growth Owing to Increased Demand for Nutritious and Healthy Food Products

Posted 2023-12-06 09:47:38

The global Fruit and Vegetable Ingredients Market is estimated to be valued at US$ 224.37 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Fruit and vegetable ingredients refer to any part of a fruit or vegetable such as concentrates, pieces, powders, pulps, and pastes that can be incorporated as ingredients in food and beverage products. They add flavor, color, aroma, texture, and nutritional value to products. Some key uses of fruit and vegetable ingredients include colorants like lycopene and beta-carotene; flavoring agents like citric acid and malic acid; and fibers like pectin and cellulose.

Market Dynamics:
Increased demand for healthy and nutritious food products is expected to drive the growth of the fruit and vegetable ingredients market over the forecast period. Consumers are increasingly preferring food products that contain less sugar, fat, and calories and are rich in vitamins, minerals, and fibers. Fruit and vegetable ingredients are excellent sources of essential micronutrients and fibers that enhance the nutritional value of foods. They are used in various food products like yogurts, juices, soups, smoothies, bakery items, and spreads.

Another driver for the market is strong demand from natural colors and flavors. Many regulatory agencies restrict the use of artificial ingredients in food and beverages. Natural colors and flavors derived from fruits and vegetables are gaining immense popularity as clean label replacements for synthetic food colors and flavors. For instance, lycopene from tomatoes is used as a red coloring agent while flavors like lemon, orange, and cranberry provide natural taste profiles to products. This has fueled the demand for clean label fruit and vegetable ingredients in the market.

SWOT Analysis

Strength: The fruit and vegetable ingredients market has a wide variety of products to offer that cater to various application needs. It is a highly sustainable market since ingredients are derived from natural sources. There is increasing focus on adopting clean label ingredients.

Weakness: The market is highly fragmented with presence of local players. Supply chain disruptions and volatile raw material prices remain key challenges.

Opportunity: Rising health consciousness is driving demand for fruit and vegetable ingredients. Innovations in extraction technologies will support new product development. Greater utilization of by-products presents an opportunity to enhance profitability.

Threats: Stringent regulations related to food safety and labelling compliance increase compliance costs. Intense competition from alternative ingredients may impact margins.

Key Takeaways

The global fruit and vegetable ingredients market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing demand for clean label, natural and organic ingredients.

North America dominates the market currently owing to rising health awareness. Europe is another major market for fruit and vegetable ingredients. Europe accounts for over 30% share of the global fruit and vegetable ingredients market led by countries such as Germany, France, and UK. Presence of leading food companies and stringent regulations have enhanced Europe's position. Asia Pacific exhibits highest growth on back of expanding food processing industry in China, India and South East Asian nations as well as growing health consciousness.

The global Fruit and Vegetable Ingredients Market Demand is estimated to be valued at US$ 224.37 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Key players

Key players operating in the fruit and vegetable ingredients market are Hans Zipperle AG, Archer Daniels Midland Company, Kerry Group, Sensient Technologies, AGRANA Beteiligungs-AG, Kanegrade Natural Ingredients, Taura Natural Food Ingredients, Olam International Limited, Sunopta, Inc., Roquette Freres, Sensoryeffects Ingredient Solutions, Yaax International Ltd, Diana SAS, Svz International BV, DMH Ingredients Inc., Cargill Incorporated, Tate & Lyle PLC, and Dohler Group.

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