FMI report, the sales of processed fruits & vegetables are expected to surpass a value of US$ 539.8 Bn in 2032, rising at a CAGR of around 7.1% through the end of 2032.
It is said that the product’s superior nutritional value and little processing are to blame for the increase. Manufacturers are altering market trends for processed fruits and vegetables by adopting a variety of packaging options to preserve the freshness of freshly cut fruits and vegetables. Modified atmospheric packaging (MAP) and edible coatings are becoming more and more common in order to extend the shelf life of freshly cut fruits and vegetables.
The demand for quick, nutrient-dense food options and healthier lifestyles is driving a major growth in the market for processed fruits and vegetables. The business is poised for continued growth and product diversity as customers become more aware of the benefits of processed fruits and vegetables, such as their longer shelf life and ease of consumption.
According to a market analysis of processed fruits and vegetables, there has been an increase in interest in the research and manufacture of meat substitutes over the past few years. By 2030, the market for plant-based alternatives is anticipated to be worth USD 85 million.
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By 2035, it’s expected that demand for beef and dairy products in the US would have fallen by 80–90%. Fruits and fruit-based goods are grabbing the attention of producers of plant-based foods due to their enhanced functionality and increased nutritional makeup, which can lead to improvements in texture and flavour. This has substantially altered the picture for the market for processed fruits and vegetables.
Additionally, the COVID-19 pandemic has improved the rate of adoption of processed fruits & vegetables since it is well suited for living in quarantine and is thought to be both inexpensive and nourishing.
The rising demand for processed fruits & vegetables across the globe has driven up the market for dried fruits. Due to increased obesity rates and an ageing population, consumers’ preferences for wholesome foods are changing, which is driving the need for dried fruit.
Also contributing to the rise of the processed fruits & veggies industry is the increased popularity of healthy packaged meals as well as the extensive usage of dried fruit in the dairy, snack, confectionery, and bread industries.
Key Takeaways from the Processed Fruits & Vegetables Market Study:
- The US is estimated to account for more than 60% of the North American processed fruits & vegetables market market in 2022.
- Through 2026, Latin America is expected to grow at a healthy 7.1% compound annual growth rate (CAGR).
- The increasing urbanization and accompanying lifestyle changes which are focused towards higher health consciousness among consumers are primarily responsible for regional growth in the US.
- The food is cooked to a precise and controlled temperature during the canning process to destroy enzymes and eliminate the risk of deterioration and food illness, therefore, leading to rapid growth in the canned processed fruits & vegetables market segment.
- The filling processing equipment industry is expected to exceed USD 38.6 billion by 2027, owing to technological developments like heightened production speed, reduced manpower requirements, and automated reliability to maintain product quality.
“Key market players are investing much in R&D in order to introduce new products and obtain a competitive advantage. Companies are also pursuing tactics such as collaboration, acquisitions, mergers, and partnerships in order to extend their client base and increase revenues.” said a lead analyst at FMI.
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Who is winning?
Key players operating in the global processed fruits & vegetable market are focusing on reaching a large consumer base by implementing various strategies such as product innovations, marketing & promotional activity, strengthening distribution channels, and adopting sustainable production. Technology is also proving to be strong support for the demand for processed fruits & vegetables market to grow in the coming years.
For example, Sorma Group developed the HyperVision platform in January 2021, a cutting-edge, multi-wavelength lighting solution that provides exceptional fruit sorting and a high level of efficiency. It has the capability of analyzing up to 15 pieces of fruit each second.
Get Valuable Insights into Processed Fruits & Vegetables Market
FMI, in its new offering, provides an unbiased analysis of processed fruits & vegetables presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for Processed Fruits & Vegetables based on by type (vegetables and fruits), by processing equipment (processing, pre-processing, seasoning, washing, filling, packaging), by product (fresh, canned, fresh-cut, drying & dehydration, frozen) across five major regions.
Processed Fruits & Vegetables Market by Category
By Type:
- Fruits
- Vegetables
By Processing Equipment:
- Processing
- Pre-processing
- Seasoning
- Washing
- Filling
- Packaging
By Product:
- Fresh
- Canned
- Fresh-Cut
- Drying & Dehydration
- Frozen
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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