Market Overview —
Fruit & vegetable ingredients are products or substances intended to improve not only the visual appeal but also provide additional nutritional value to the diet. It imparts aromas, flavours, textures, colours and enhances the shelf life of the products by providing multi-sensory experience throughout the entire shelf life. With increasing consumer awareness, growing consumer’s concern about health & wellness and better understanding of human nutrition have led to the improved management of nutrition intake. Fruit & vegetable ingredients are rich source of nutrition which include carbohydrates, fats, proteins, minerals, and others which reduces the risk of various diseases, including cancers and cardiovascular disorder. These ingredients are essential for human body as it has both functional and economic value.
With increasing urbanization along with consumer’s preference to lead a healthy lifestyle, rising disposable income, government initiatives to encourage the fruit and vegetable ingredients industry, and increasing demand of convenience food has boasted the growth of fruit & vegetable ingredients market. The integration and consolidation of nutraceutical, food and technology companies has given birth to new product developments with better functionality. Also, the increasing incidence of diseases globally has led to increasing consumption of fruit & vegetable ingredients.
The key industrial players focused on R&D, investments, new product development and better marketing strategies to create more consumer awareness serve the needs of customers efficiently. Globally, Fruit & Vegetable ingredients market is growing at the rate of 5% during 2016 to 2022.
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The major key players in Fruit & Vegetable Ingredients Market are
• Sunopta, Inc. (Canada)
• Archer Daniels Midland Company (U.S.)
• Olam International Ltd. (Singapore)
• Sensient Technologies Corporation (U.S.)
• Kerry Group PLC (Ireland)
• Diana Group S.A.S. (France)
• Döhler (Germany)
Global Fruit & Vegetable ingredients market is highly concentrated in European and North American region whereas Asia-Pacific region is expected to grow at the highest CAGR in next 5 years owing to growing urbanization, increasing consumer’s health awareness and huge demand of high quality fruit & vegetable ingredients. Fruit & Vegetable ingredients manufacturers are focusing on expanding their product line by providing large variety of innovative products with better functionality.
Globally the Fruit & Vegetable ingredients market is mainly driven by altering lifestyles of the consumer, increasing health awareness & consumer’s interest in fitness, wellness & weight management, increasing incidence of diseases such as cancer and cardiovascular diseases led to the consumers looking for balanced diet. The trend of increased consumption of convenience and processed food ensured the growth of Fruit & Vegetable Ingredients market. The key players are expanding their processing units in developing regions and emerging countries such as India, China and Brazil to gain huge consumer base worldwide. Increasing demand of natural, free-from and clean labelled products is also supporting the market growth and industrial players are focusing on new product development with innovations and in terms of flavor technology and improvement in functional attributes of Fruit & Vegetable ingredients. The strong growth in food & beverage industry coupled with increasing demand of fruit & vegetable industry ingredients in various industries such as confectionery, dairy R.T.E. products, beverage, and bakery ensured the growth in Fruit & Vegetable Ingredients market.
These factors will play a key role in the growth of Fruit & Vegetable ingredients market at the CAGR of 5% during 2016-2022.
The Fruit & Vegetable ingredients are in demand from the end-user application industries such as beverages, bakery & confectionery products, R.T.E. products, dairy & dairy products, soups & sauces, functional food, and others industries. Rising popularity of convenience & processed food and increasing purchasing power of consumer due to rising disposable income in developing countries like India and China is fueling the growth of Fruit & Vegetable ingredients market. Fruit & Vegetable ingredients is also used in production of high quality functional/dietary food which contains more nutritional value. Key manufacturers of Fruit & Vegetable ingredients are doing R&D activities to offer products with improved functionality.
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• Fruit & vegetable ingredient manufacturers
• Fruit & vegetable ingredient suppliers
• Retailers and wholesalers
• E-commerce companies
• Traders, importers and exporters
• Researchers & Associations
• Government bodies
• End users (industries)
Name: Akash Anand
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Release ID: 252221