The vegetable powders market is expected to secure a valuation of USD 7.2 billion in 2023 and rise to USD 12.0 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.3% during the forecast period. Several factors are driving this growth, including increased demand for vegan products, growing applications in pharmaceuticals, and rising consumption of organic and natural ingredient-based food products.
Key Takeaways:
- Increased Application in Pharmaceuticals: Vegetable powders are finding growing use in the pharmaceutical industry due to their natural benefits and clean-label ingredients.
- Rising Demand for Vegan and Organic Products: The shift toward plant-based diets and natural ingredients is driving the market for vegetable powders, especially in the food and beverage sector.
- Growth in RTE Foods and Snacks: The rising popularity of ready-to-eat (RTE) food products, soups, and sauces is increasing the demand for vegetable powders as key ingredients.
- North American Market Leadership: North America is expected to dominate the vegetable powders market during the forecast period, driven by increased consumption of packaged goods.
- Convenience and Distribution Channels: The easy availability of vegetable powders in supermarkets, hypermarkets, and specialty stores is further fueling market growth.
Who are the Key Suppliers of Vegetable Powders
- Frontier Co-Op.
- MRM
- Garden of Life
- Bluebonnet
- Country Farms
- Fit Miss
- Buk Supplements
- Fit Formula
- Fresh Blends
- Others
Vegetable powders Segmentation
By Grade:
- Feed Grade
- Food Grade
By Vegetable:
- Onion & Tomato
- Corn
- Mushroom
- Beans
- Others
By Application:
- Thickener
- Nutritional Enrichment
- Flavour Enhancer
By End-Use:
- Household
- Food Service (Sauces, Soups, and Others)
- Food and Beverage Products
- By Distribution Channel:
- Supermarket/Hypermarket
- Convenience stores
- Specialty Stores
- Online Stores
- Others
By Region:
- North America (the USA, Canada, and Mexico)
- Europe (Russia, United Kingdom, Germany, Italy, and France)
- South America (Brazil, Argentina)
- Asia Pacific (India, China, Australia, and the Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia)
Report Preview: https://www.futuremarketinsights.com/reports/vegetable-powders-market
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