Processed Fruits and Vegetables Market by Type (Fruits, Vegetables), Form (Concentrates, Pastes & Purees, Powders, NFC juices, Others) Application (Bakery & Confectionery, Dairy & Frozen Desserts, Sweet & Savory Snacks, Beverages, Others): Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 321 billion mark in 2022 and is expected to hit US$ 544 billion by 2030, recording a CAGR of 6.8% during the forecast period.
Penetration of consuming organic fruits and vegetables supports the growth of the market
Over the past few years, awareness regarding health and nutrition has increased significantly. The demand for organic-certified processed fruits and vegetables continues to grow across the globe, owing to increasing consumer spending on premium organic food products, which is attributed to a higher standard of living, high-income levels of consumers, and growth in environmental concerns. This trend is anticipated to offer lucrative growth opportunities for the processed fruits & vegetable market over the next few years.
Within the report, the market is segmented into type, form, application, and geography. By type, the market is bifurcated into fruits and vegetables. By form, the market is segmented into Concentrates, Pastes & Purees, Powders, NFC juices, and Others. By application, the market is categorized into Bakery & Confectionery, Dairy & Frozen Desserts, Sweet & Savory Snacks, Beverages, Others. Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Rising Strategic development initiatives by market players
The global processed fruits and vegetable market is growing with an upward trend, and manufacturers are making significant investments in research & development, partnerships, and collaborations to launch innovative products to tap into emerging market opportunities. For instance, in May 2020, Dole Food Company launched DOLE FreshTakes Salad Bowls in supermarkets throughout the Western US The ready-to-eat salad products were launched to attract new American customers and increase the customer base. Similarly, in June 2021, Kraft Foods announced an agreement to purchase Assan Foods from the privately held Turkish conglomerate, Kibar Holding for USD 100 million. Kraft Heinz expects to accelerate its international growth strategy through this acquisition. Such strategic initiatives are expected to propel the market growth over the forecast period.
Rising demand for fruit puree concentrate among various end-use industries
The fruit concentrate puree is a preference for unusual, diverse flavors, particularly in dairy products. Fruit puree concentrate is used to make pre-made milkshakes and smoothies in a variety of flavors, like Amul Banana Milk Shake, Smoothies Bold Berries Smoothies, Storia Pure Mango Pulp Milkshake, and others. Moreover, the increased demand for a variety of flavors in cookies, pastries, and other bakery items has pushed fruit concentrate puree to the forefront. Fruit puree is also commonly used to make mousses and cheesecakes. Thus, increasing the adoption of fruit puree concentrate for various applications is further expected to aid the market growth.
Recent strategic developments in the processed fruit and vegetable market
The processed fruits and vegetable market has undergone several significant developments, and a few of these have been mentioned below:
- In March 2021, the Austrian food company Agrana expanded its presence in the Asian market with the acquisition of the fruit preparations business from Japan-based Taiyo Kagaku Co. Under the deal, Agrana also acquires Taiyo Kagaku’s fruit preparation plant in Yokkaichi, southern Japan.
- In June 2021, Kraft Foods announced a deal to buy Assan Foods for USD 100 million from Kibar Holding, a privately held Turkish corporation. With this acquisition, Kraft Heinz hopes to speed its foreign expansion strategy.
The processed fruits and vegetable market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. AGRANA Beteiligungs-AG, Cargill Incorporated, Döhler, Hans Zipperle AG, and Tate & Lyle are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Processed fruits and vegetables manufacturer
- Processed fruits and vegetables-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policymakers
- Venture capitalists, private equity firms, and start-up companies
- Application industry of processed fruits and vegetables industry
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type
- Fruits
- Vegetables
- Form:
- Concentrates
- Pastes & Purees
- Powders
- NFC juices
- Others
- Application:
- Bakery and confectionery
- Beverages
- Dairy and Frozen Desserts
- Sweet & Savory Snacks
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- AGRANA Beteiligungs-AG
- Cargill, Incorporated
- Döhler
- Hans Zipperle AG
- Tate & Lyle
- AGRANA Beteiligungs-AG
- Cargill, Incorporated
- Döhler
- Hans Zipperle AG
- Tate & Lyle