Fruit and Vegetable Processing Market: Global Key Insights and Growth Trends
Chicago, Nov. 12, 2023 (GLOBE NEWSWIRE) — The fruit and vegetable processing market is a significant sector within the food industry that involves various techniques and processes to transform fresh fruits and vegetables into a wide range of products. These processed products cater to diverse consumer needs, including convenience, longer shelf life, and value-added options. The market encompasses a variety of products, including canned fruits and vegetables, frozen produce, fruit juices, dried fruits, and vegetable purees, among others. According to MarketsandMarkets, the global fruit and vegetable processing market is estimated to account for nearly USD 8.7 billion in 2022 and is projected to reach a value of nearly USD 11.8 billion by 2027, growing at a CAGR of 6.4% from 2022.
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Need of Fruit and Vegetable Processing Market
- Year-Round Availability: One of the primary needs met by the fruit and vegetable processing market is the ability to provide fruits and vegetables year-round. Processing techniques such as canning, freezing, and drying allow these products to be preserved and available even when they are out of season, ensuring a consistent supply for consumers.
- Reducing Food Waste: Fruit and vegetable processing helps in reducing food waste. By extending the shelf life of these perishable items, it minimizes the loss of fresh produce that might otherwise go unsold and be discarded.
- Convenience: Processed fruit and vegetable products offer consumers a convenient and time-saving option. This is especially important in today’s fast-paced lifestyles, where people may not always have the time to prepare fresh produce but still want to maintain a balanced diet.
- Nutrient Retention: Industry plays a crucial role in preserving the nutritional value of fruits and vegetables. Through careful processing techniques, it retains essential vitamins and minerals, making these products a reliable source of nutrition.
- Value Addition: Fruit and vegetable processing adds value to raw produce by creating a wide range of products like fruit juices, dried fruits, canned vegetables, and more. This value addition benefits both consumers and the industry by offering a variety of choices and enhancing profitability.
- Global Trade: The processing market enables global trade in fruits and vegetables. Consumers can access a wide array of products from different regions and enjoy seasonal produce from around the world.
- Food Security: Fruit and vegetable processing contributes to food security by reducing the reliance on seasonal production. It helps ensure a stable food supply, even in regions with limited growing seasons or in cases of natural disasters affecting fresh produce.
Fresh Produce Shows Impressive Growth
When it comes to product types, the fresh fruit and vegetable segment stands out as the star performer. This segment exhibited the fastest growth rate during the forecast period, and it’s easy to understand why. With the growing demand for ready-to-cook produce, consumers are increasingly turning to fresh fruits and vegetables. The convenience factor cannot be understated, as busy lifestyles lead to a higher demand for easily prepared meals. Moreover, health awareness and the desire for fresh-cut fruits and vegetables that save preparation time have all contributed to the expansion of this segment.
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Asia Pacific Emerges as a Dominant Force
The Asia Pacific region emerged as the powerhouse of the processed fruit and vegetable market. The growth of the fruit and vegetable processing industry in developing economies, particularly in Asia Pacific and South American countries, has been remarkable. Several factors have fueled this growth, including an increasing number of working women, a burgeoning middle-class population, the bulk production of various agricultural products, and government subsidies, especially in countries like India. The combination of these factors and trade liberalization policies has made Asia Pacific a dominant force in this market.
The processed fruit and vegetable market in 2022 showcased several noteworthy trends and developments. The dominance of the vegetable segment, the impressive growth of fresh produce, and the rise of the Asia Pacific region as a key player have been the defining features of the market. As consumers continue to prioritize health, convenience, and sustainability, the processed fruit and vegetable market is poised for further growth in the coming years. It will be interesting to observe how these trends evolve and shape the industry in the future, as more companies explore marketing and development strategies to cater to the changing consumer landscape. Leading companies like Conagra Brands, Greencore Group, Nestle, and others are well-positioned to make a significant impact on the market’s trajectory in the years to come.
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