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Fruit & Vegetable Processing Market size was $253.97Bn in 2019, growing at a CAGR of 6.8% during the forecast period 2020-2025. Processing of fruit and vegetable is a process used to improve the storage life and quality of the product like frozen vegetables and fresh fruits.Fruit processing and vegetable processing aids to the growth in the production of products for direct consumption as food ingredients. The processing helps in the food preservation of color, flavor, texture, vitamins, and nutrition. The processed products are stored in the form of canned vegetables or fruit pieces, pulp, juice, and others. Processing helps in the contamination of minerals and vitamins in the fruit and vegetables in the form of juice and health-conscious people can consume these for the same nutritional benefits as fresh fruit.
By Type – Segment Analysis
In 2019, Fruitsegment dominated the Fruit & Vegetable Processing Market in terms of revenue is estimated to grow at a CAGR of 8.3%. Fruit is a source of essential vitamins, minerals and other nutritional elements that are rich in fiber. It contains potassium, dietary fiber, vitamin C, antioxidants, flavonoids and other health beneficial essentials. It is used in ice cream, cakes and other food items owing to its flavor, texture, and taste. It helps reduce constipation, diverticulosis and risk of chronic diseases.
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Geography – Segment Analysis
In 2019, the Asia-Pacific region dominated Fruit & Vegetable Processing Market in terms of revenue with a market share of 32.14%owing towards the increase of processed food and beverages sector and increasing demand for fresh fruits and vegetables. The prioritization in the production of fruit and vegetables over grains by the Government in this region for the development of the farming aids to the market’s growth. The government has taken initiatives to promote technological advancements in this region are key factors in the growth of the Fruit & Vegetable Processing market. North America is estimated to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Fruit & Vegetable Processing Market
• Increase of Health-Conscious People
Increase in the number of health-conscious consumers drive the Fruit & Vegetable Processing Market owing towards the demand for organic, fresh and exotic fruits and vegetables. Consumers demand for high-quality products with no changes in nutritional, mineral and calcium properties. Changes in food consumption pattern of people in the past few is driving the fruit and vegetable processing market as there is increased adoption of a vegan diet. Presence of retail and e-commerce channels has also driven the market for fruit and vegetable processed goods owing to their ease of availability and lower cost.
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Challenges – Fruit & Vegetable Processing Market
The lack of proficient organization for Fruit & Vegetable Processing system and growing stringent government policy and regulation toward market growth is restraining growth of the market. Thehigh capital investments for equipment and strict regulations for the consumer safety are restraining the growth of the market.Lack of sufficient storage facilities and improper distribution andlimited cold storage and transportation is hindering the market’s growth.
Fruit & Vegetable ProcessingIndustry Outlook
Product Launches was the key strategy of the players in the Fruit & Vegetable ProcessingIndustry. Fruit & Vegetable Processingtop 10companiesinclude GEA Group, JBT Corporation, Krones AG, Conagra Brands, Inc.,Dole Food Company, Inc., The Kroger Company, Olam International, The Kraft Heinz Company, Greencore Group and Nestlé S.A.
In November 2019,Olam Internationalacquired Dangote Flour Mills Plc.a flour and pasta manufacturing company. This acquisition helped in increasing consumer demands for organic and chemical free products.
In January, 2019, The Kraft Heinz Company acquired Primal Nutrition, LLC, makers of Primal Kitchen branded products. This acquisition helped company by driving its growth across multiple categories and in reaching more consumers.
• Increase in demand for organic and fresh products is set to propel the growth of the market.
• Increased demand for the consumption of dried fruits, canned fruit, and syrup preserved fruits.
• The dietary habit of the consumer to stay healthy drives the market’s growth.
• North America region is estimated to record the fastest growth rate during the forecast period 2020-2025.
Fruit & Vegetable Processing Enzymes Market
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