Global Fruit and Vegetable Ingredients Market to Reach $230 Billion by 2026 - PRNewswire

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FACTS AT A GLANCE
Edition: 6; Released: January 2021
Executive Engagements: 373
Companies: 71 - Players covered include AGRANA Beteiligungs-AG; Archer Daniels Midland Company; Cargill Incorporated; DIANA Group S.A.S.; DMH Ingredients; DÃhler; FutureCeuticals Inc; Givaudan S.A.; GrÃunewald Fruchtsaft GmbH; Hans Zipperle S.p.A.; International Flavors & Fragrances, Inc; Kanegrade Ltd; Kerry Group plc; Olam International Limited; SunOpta, Inc.; SVZ Industrial Fruit & Vegetable Ingredients; Taura Natural Ingredients Ltd; Venkatesh Naturals Extract Pvt Ltd; YAAX INTERNATIONAL, INC. and Others.
Coverage: All major geographies and key segments
Segments: Category (Fruits, Vegetables); Type (Concentrates, Pieces & Powders, Pastes & Purees, NFC Juices); Application (Beverages, Confectionery, RTE Products, Bakery, Soups & Sauces, Dairy Products, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Fruit and Vegetable Ingredients Market to Reach $230 Billion by 2026
Fruit and vegetable ingredients are extracted from a wide range of fruits and vegetables. Available in powder, juice, and paste forms, the ingredients are used in a range of food and beverages including snack foods, bakery products, beverages, soups, sauces and others. While fruit and vegetable ingredients are most beneficial when added in pure form, they can also be used as purees, concentrates, single-strength juices, and powders in products where pure form ingredients are not suitable. The ingredients enable companies to improve the nutritious value of the foods by fortifying them. For instance, addition of prune powders incorporates a tangy taste and also improves the fiber content of the foods. Fruits can also reduce the amount of sugar used, as they have a naturally sweet taste, and can incorporate sweetness into the foods and beverages, thereby reducing the need for additional sugar to sweeten the product.

Amid the COVID-19 crisis, the global market for Fruit and Vegetable Ingredients estimated at US$173.3 Billion in the year 2020, is projected to reach a revised size of US$230 Billion by 2026, growing at a CAGR of 4.9% over the analysis period. Fruits, one of the segments analyzed in the report, is projected to grow at a 5.3% CAGR to reach US$145 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Vegetables segment is readjusted to a revised 4.4% CAGR for the next 7-year period. This segment currently accounts for a 41.6% share of the global Fruit and Vegetable Ingredients market.

The U.S. Market is Estimated at $56.1 Billion in 2021, While China is Forecast to Reach $18.3 Billion by 2026
The Fruit and Vegetable Ingredients market in the U.S. is estimated at US$56.1 Billion in the year 2021. The country currently accounts for a 31.37% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$18.3 Billion in the year 2026 trailing a CAGR of 7.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR while Rest of European market (as defined in the study) will reach US$19.8 Billion by the close of the analysis period.

With increasing focus on quality of food, customers are migrating from fresh vegetables and fruits to fruit and vegetable ingredients. The market is also expected to gain from the increasing interest in natural ingredients and healthier options, and the expanding processed food and beverage market. Growing intake of confectionary and bakery products and also dairy products is anticipated to bode well for the market. Also, the rising spending power is augmenting demand for fruit and vegetable ingredients for use as flavor enhancers. The market is also being driven by factors such as changing customer lifestyles, altering eating habits, increasing product innovations, growing use of fruit and vegetable ingredients in different industries such as bakery, beverage, dairy products, and confectionary, and rising interest in natural ingredients. Also, the increasing consumption of convenience food and drinks and snacks, fast paced urbanization, and improving disposable income levels are aiding growth. Growing efforts of producers to introduce novel organic and healthy products that are based on fruits and vegetables will continue to boost market growth in the coming years.

Concentrates Segment to Reach $91.8 Billion by 2026
Fruit and vegetable concentrates are emerging as an ideal option for formulation of foods & beverages for delivering required color, flavor, and nutritional benefits with clean labels. Brix standards are used for defining fruit & vegetable concentrates and for providing a cost effective approach to use natural ingredients in a wide variety of food and beverage applications. Such concentrates involve less water use and are intense in naturally found sugar, and hence are considered to be an ideal alternative to conventional sweeteners. After being diluted back into the final product, the concentrates ensure lower levels of added sugar. Global market for Concentrates is estimated at US$70.8 Billion in 2020, and is projected to reach US$91.8 Billion by 2026 reflecting a compounded annual growth rate of 4.5% over the analysis period. Europe constitutes the largest regional market for Concentrates segment, accounting for 36.8% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 6.8% over the analysis period, to reach US$9.3 Billion by the end of the analysis period. More

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