Meticulous Research® has published a detailed report titled, “Fruit and Vegetable Ingredients Market by Category, Type, Nature, and Application – Global Forecast to 2030.” According to this report, the global fruit and vegetable ingredients market is projected to grow to $294.5 billion by 2030 at a CAGR of 5.5% from 2023 to 2030.
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Factors Driving Market Growth
The surge in demand for natural ingredients significantly contributes to market expansion. With a growing emphasis on healthier food options, consumers are increasingly seeking products made with fruit and vegetable ingredients. These ingredients provide numerous benefits, particularly in the food and beverage sectors, and are gaining popularity for RTE and RTD products.
Challenges in the Market
Despite these growth opportunities, challenges such as fluctuating raw material prices and issues surrounding the storage and handling of ingredients could pose risks to market growth.
Market Classification
The fruit and vegetable ingredients market is divided into several segments: category (fruit and vegetable), type (pieces, powders, concentrates, purees, and paste), nature (organic and conventional), application (beverages, bakery products, dairy, soups, sauces, savory foods), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). This segmentation provides a comprehensive understanding of the market dynamics.
Fruit Ingredients Dominate
Among the segments, fruit ingredients are expected to hold the largest market share in 2023, driven by their accessibility, low cost, and versatility across various applications. This widespread adoption is a crucial factor in their continued success.
Concentrates’ Market Leadership
The concentrates segment is predicted to be the leader in the global fruit and vegetable ingredients market. Their adaptability for use in beverages enhances flavor and quality while offering cost-effectiveness and logistical ease.
Growth of Organic Options
The organic segment is expected to register the highest CAGR throughout the forecast period. Increased consumer interest in organic foods, along with trends toward sustainable and natural products, contribute to this growth. Organic ingredients are often viewed as healthier, free from chemicals and pesticides.
Beverages Lead the Applications
In terms of applications, the beverages segment is expected to take the lead. The increasing awareness of health benefits associated with natural flavors, along with ongoing innovation in beverage products, drives this trend. The demand for organic and flavored drinks, particularly health and sports beverages with higher nutritional value, is likely to boost this segment.
European Market Leadership
Europe is projected to hold the largest share of the fruit and vegetable ingredients market in 2023. This dominance is attributed to the growing consumer preference for healthy and natural options, increased consumption of RTE foods and beverages, and rising health and wellness trends. The introduction of clean-label, organic products further supports growth in this region.
Competitive Market Landscape
The global fruit and vegetable ingredients market exhibits a moderately competitive environment, featuring various players. Major companies in this space include Archer-Daniels-Midland Company (U.S.), Olam International Limited (Singapore), Cargill, Incorporated (U.S.), AGRANA Beteiligungs-AG (Austria), Hans Zipperle AG/S.p.A. (Italy), Döhler GmbH (Germany), Ingredion Incorporated (U.S.), SunOpta (U.S.), SVZ International BV (Netherlands), and KangMed, Inc. (China).
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How Will the Fruit and Vegetable Ingredients Market Reach 4.5 Billion by 2030?