The global vegetable concentrates market is expected to reach USD 5,223.92 billion in 2023, with demand accelerating at a CAGR of 4% over the 2023 to 2033 forecast period. By the end of the said period of assessment, the market is slated to reach USD 7,716.96 million.
Health benefits of consuming fresh vegetables are well known to all consumers, however, in recent times the consumption has peaked owing to growing focus on maintaining a healthy and nutrition rich diet.
This is anticipated to push demand for vegetable concentrates as they contain the same nutrients present in fresh vegetables. They are convenient to use and has a wide range of applications such as in beverages, confectionaries, soups etc.
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Moreover, governments have been taking initiatives to encourage a healthier lifestyle among today’s youth who are easily attracted towards fast food, resulting in cases of diabetes and obesity. As a result, manufacturers are targeting these younger generations by introducing different mixes and new varieties of products in the market.
“Rising demand for vegan food and beverage products, along with the introduction of new and innovative vegetable concentrate will augment the growth in the market over the forecast period,” says an FMI analyst.
Key Companies Profiles
- Kerr Concentrates
- Lemon Concentrate
- Encore Fruit
- Greenwood
- SVZ
- Dohler Group
- Kanegrade
- YAAX
- Rahal Fruits and Flavors
- Food Ingredients United States
Competitive Landscape
Top vegetable concentrate manufacturers are focusing on expanding their footprint across promising regions by introducing new products to their portfolios. Moreover, they have incorporated in-organic strategies as well such as developing strategic partnerships with existing players. For instance:
- In July 2023, an Iranian company reopened its aseptic tomato paste production line. Kowsar Beh Chin Samin will relaunch aseptic tomato paste production lines later this year, during the year that has been dubbed by the Islamic Revolution leader as “The Year of Curbing Inflation and Jumping Production.”
- In July 2023, Beneo unveiled sugar beet-derived low glycemic ingredients to tackle dog obesity. As a result of Beneo’s research, there has been a steady rise in overweight and obese dogs in Western countries over the last few decades. An in-vitro and in-vivo study conducted by the company demonstrated that isomaltulose – a vegan disaccharide – is an ideal low-glycemic carbohydrate for dog food to help reduce blood glucose spikes. Isomaltulose has been characterized for the first time in terms of its digestibility and metabolic impact in dogs in this research, which is of great importance.
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Vegetable Concentrates Market by Category
By Product Form:
- Puree Form
- Powder Form
- Pieces Form
- Frozen Form
By Vegetable Type:
- Tomato
- Beetroot
- Pea
- Carrot
- Pumpkin
- Other Vegetables
By Application:
- Beverage
- Soups & Sauces
- Confectionery
- Other Applications
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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