The Vegetable Powders Market is expected to reach a market valuation of US$ 7.2 Billion by the year 2023, accelerating with a CAGR of 5.3% with a valuation between 2023 and 2033 of US$12.0 billion.
Globally, consumers are attempting to eat foods that have vegetables as a key ingredient, such as foods that are vegetable-based. The market for vegetable powders is expanding as a result of customers’ growing demand for quick meals made mostly of vegetables.
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What is Driving the Demand for Vegetable Powders?
Recent years have seen a sharp increase in demand for ready-to-cook meal products due to consumer hectic lifestyles and rising urbanization. Foods that come in ready-to-cook (RTC) packaging are easier to prepare and keep for longer. The growing popularity of ready-to-cook (RTC) dishes is the main factor driving the demand for vegetable powders.
They are also used to maintain the consistency of food products and to add flavor to soups, gravies, and sauces. The food service industry’s increasing use of huge quantities of sauces and seasonings will drive the expanding need for vegetable powders.
Because of its simplicity of use and growing public knowledge of the harmful effects of artificial food additives, demand for it is predicted to rise.
Key Factors which will Drive Sales of Vegetable Powders
As vegetable powders are easy to digest and have a high nutritional value, therefore these products are commonly utilized in herbal supplements. They are also being actively incorporated into baby food items because they keep the natural taste and nutrition. These factors will drive its sale in the coming years.
Vegetable powders are being used in a variety of convenience food products as a result of the growing trend of eating whole & healthy foods. They are also extensively used in a variety of product preparations in hotels and restaurants around the world. Thus, these factors helping in increasing its sale across the globe.
Clean label ingredients are organic, non-GMO, and natural. The increase in demand for clean label ingredients is further expected to boost its sale across the globe.
The US and Canada Vegetable Powders Outlook
According to FMI analysis, the increasing customer demand for naturally derived components in food products has allowed the U.S in North America to hold the top position in the vegetable powders market in recent years.
The growing use of it in the production of packaged foods is likely to fuel the expansion of the vegetable powders market in the U.S and Canada. Also, the higher per capita income and presence of major manufacturers in the U.S and Canada is estimated to drive the vegetable powders market.
Europe Demand Outlook of Vegetable Powders
Clean label components have become more popular in Europe as people become more aware of natural and organic foods. Furthermore, an increase in disposable income, an improvement in living standards, and an increase in healthcare spending are driving the vegetable powders market growth.
Due to the increase in demand for food preservation in the region, the European market of vegetable powder is expected to see substantial revenue growth in the global market in the coming years.
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Who are the Key Suppliers of Vegetable Powders
Some of the key market players involved in the vegetable powders are
- Frontier Co-Op.
- MRM
- Garden of Life
- Bluebonnet
- Country Farms
- Fit Miss
- Buk Supplements
- Fit Formula
- Fresh Blends
- Others
The vegetable powders market is expected to be driven by new product launches and rising R&D expenses to meet changing end-user demand. Key market players have used organic growth tactics such as mergers and acquisitions to expand their market share.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Vegetable powders Segmentation
Grade:
- Feed Grade
- Food Grade
Vegetable:
- Onion & Tomato
- Corn
- Mushroom
- Beans
- Others
Application:
- Thickener
- Nutritional Enrichment
- Flavour Enhancer
End-Use:
- Household
- Food Service (Sauces, Soups and Others)
- Food and Beverage Products
Distribution Channel:
- Supermarket/Hypermarket
- Convenience stores
- Specialty Stores
- Online Stores
- Others
Region:
- North America (the U.S, Canada and Mexico)
- Europe (Russia, U.K, Germany, Italy and France)
- South America (Brazil, Argentina)
- Asia Pacific (India, China, Australia and Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia)
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Vegetable Powders Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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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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