Global fruit and vegetable ingredients market is projected to grow at a CAGR of 4.5% during the forecast period.
- Fruit and vegetable ingredients are projected to be superior and are expected to overtake fresh fruits and vegetables in the future, for the prevention of many diseases. - Fruit ingredient accounted for the major share, followed by vegetable ingredient. Increased demand for fruit juice concentrate in the beverage industry is the primary factor driving the market. - Beverages is the leading application of fruits and vegetable ingredient in the market, either in the form of concentrate, powders, or NFC juices. - The dairy industry uses fruit pieces, concentrates, pulp/puree in products such as yogurt, fermented dairy drinks, ice cream, desserts, and puddings.
Key Market Trends Increase in Demand for Natural Ingredients in the Food and Beverage Industry
The rapid expansion of the processed and packaged food industry is expected to accelerate the demands for natural food additives, eventually driving the sales of fruit and vegetable extracts. The global marketplace has witnessed increase in the extraction of bioactive compounds from fruit and vegetable to be utilized as natural additives for food industry. Inclusion of these natural concentrates in baby food can boost the market for fruit and vegetable ingredients globally, as food safety is the major concern in this segment. Not just baby foods, even the food preference among adults is for naturally sourced, low-fat, low-sugar, and other customized natural additives in food and beverages. This rising awareness about the ingredients used in the products coupled with increasing health consciousness and the use of natural and organic food products, is expected to favor the fruit and vegetable ingredient market.
Europe Held the Largest Market Share
The demand for exotic fruits and vegetables such as avocadoes, mangoes is high in the country. The import of mango puree from the European Union is highly concentrated, and the United Kingdom is one of the top three importers, accounting for almost 80% of the total EU import.The growing consumption of fresh fruit & vegetable in UK is the primary factor restraining the processed fruits & vegetable ingredient market. Moreover, fruits and vegetable ingredient accounts for around 25% of the total organic food product sale in France. Increased organic farming and high demand of organic products has accelerated the market growth.
Competitive Landscape The global fruit and vegetable ingredient market is highly fragmented, with many local and international players competing for market share. Major players, like Olam International, Cargill Incorporated, ADM, Agrana Group, Frutarom, hold a significant position in the global fruit and vegetable ingredient market. The major strategies adopted by companies in the global fruit and vegetable ingredient market are new product launches, agreements/partnerships, expansions, and acquisitions.
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