Market Research Report
Fruit and Vegetable Pieces and Powders Market - Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||754921|
|Published||Content info||128 Pages
Delivery time: 2-3 business days
|Fruit and Vegetable Pieces and Powders Market - Growth, Trends and Forecasts (2020 - 2025)|
|Published: May 1, 2020||Content info: 128 Pages||
The global fruit and vegetable pieces and powders market was valued at USD 9.95 billion in 2018 and is expected to register a CAGR of 4% during the forecast period (2019-2024). In 2017, Europe was the largest geographical segment of the market studied and accounted for a share of around 35.3% of the market.
Growing health consciousness enables consumers not to compromise on the safety of the food and beverages they consume. This enables them to spend more on healthy food, such as superfruits, rather than on artificial food with flavors, colors, and preservatives, thereby increasing their expenditure levels. Factors, such as increased customer health awareness, and the stringent rules set by food regulatory bodies, are resulting in a decline in the usage of artificial flavors and additives, among food products, which, in turn, boosts the market for natural fruit and vegetable ingredients.
Fruit and vegetable extracts are a major source of antioxidant phytonutrients, which are increasingly utilized in the place of synthetic chemicals, such as butylated hydroxyanisole (BHA), butylated hydroxytoluene (BHT), etc. The claim of the companies to serve natural products is thus not fulfilled, as natural fruit and vegetable extracts cannot provide great shelf life. This maintenance of higher shelf life is still a big challenge for the natural fruit and vegetable ingredients market.
Increase in Demand for Natural Ingredients in the Food and Beverage Industry
The rapid expansion of the processed and packaged food industry is expected to accelerate the demands for natural food additives, eventually driving the sales of fruit and vegetable extracts. The global marketplace has witnessed an increase in the extraction of bioactive compounds, from fruits and vegetables, to be utilized as natural additives for the food industry. Natural ingredients, such as fruit and vegetable concentrates, are predicted to gain a higher share in the developing markets of Asia-Pacific, during the forecast period (2019-2024). This rising awareness about the ingredients used in the products, coupled with increasing health consciousness, and the use of natural and organic food products, is expected to favor the fruit and vegetable ingredient market.
Europe to dominate the global market
Europe offers a favorable geographical location for fruit and vegetable ingredient manufacturers, with well-developed transportation channels and well-situated food processors, export facilities for transport of food vegetable powders and pieces to other EU countries. The demand for ingredients sourced from fruits and vegetables, like avocadoes, berries, mangoes, etc., is high in the European region, as they form an important part of the local cuisines and staple food, such as bakery products.
The global fruit and vegetable pieces and powders market is highly fragmented, with many local and international players competing for market shares. Major players, like Olam International, Agrana Group, Taura Natural Ingredients Inc., hold a significant position in the global fruit and vegetable pieces and powders market. There are various small and medium local players, holding a significant share in the market. There are more than 200 producers in the United States and Germany for fruit juice processing, where powders are used as the key ingredient. Owing to the highly fragmented nature of the market, the major companies hold a share of less than 10%, in the global market.