According to a recent FMI report, the sales of processed fruits & vegetables are expected to surpass a value of US$ 539.8 Bn in 2032, rising at a CAGR of around 7.1% through the end of 2032.
The rise is attributed to the product’s low processing and high nutritious value. Manufacturers are changing the processed fruits & vegetables market trends by employing a variety of packaging solutions to keep fresh–cut fruits and vegetables fresh. The use of edible coatings and modified atmosphere packaging (MAP) to extend the shelf life of fresh–cut fruits and vegetables is becoming more common.
As per the processed fruits & vegetables market analysis, there has been an increase in interest in the creation and manufacture of meat substitutes during the past few years. By 2030, it is anticipated that the global market for plant-based alternatives will be worth USD 85 million.
The demand for beef and dairy products in the US is also anticipated to decline by 80–90% by 2035. Because of their greater functioning and improved nutritional makeup, which can result in texture and flavor upgrades, fruits and fruit-based products are attracting the attention of manufacturers of plant-based foods. This has changed the processed fruits & vegetables market outlook significantly.
Additionally, the COVID-19 pandemic has improved the rate of adoption of processed fruits & vegetables since it is well suited for living in quarantine and is thought to be both inexpensive and nourishing.
The market for dried fruits has been pushed up by the increased demand for processed fruits & vegetables market in various parts of the world. The market for dried fruit is being driven by a shift in customer choice for healthy and nutritious foods as a result of rising obesity and an aging population.
Furthermore, the rising demand for dried fruit has been spurred by increased acceptance of healthful packaged foods and widespread use of dried fruit in the dairy, snack, confectionery, and bakery, industries, therefore, augmenting the growth of the processed fruits & vegetables market.
Key Takeaways from the Processed Fruits & Vegetables Market Study:
- The US is estimated to account for more than 60% of the North American processed fruits & vegetables market market in 2022.
- Through 2026, Latin America is expected to grow at a healthy 7.1% compound annual growth rate (CAGR).
- The increasing urbanization and accompanying lifestyle changes which are focused towards higher health consciousness among consumers are primarily responsible for regional growth in the US.
- The food is cooked to a precise and controlled temperature during the canning process to destroy enzymes and eliminate the risk of deterioration and food illness, therefore, leading to rapid growth in the canned processed fruits & vegetables market segment.
- The filling processing equipment industry is expected to exceed USD 38.6 billion by 2027, owing to technological developments like heightened production speed, reduced manpower requirements, and automated reliability to maintain product quality.
“Key market players are investing much in R&D in order to introduce new products and obtain a competitive advantage. Companies are also pursuing tactics such as collaboration, acquisitions, mergers, and partnerships in order to extend their client base and increase revenues.” said a lead analyst at FMI.
Who is winning?
Key players operating in the global processed fruits & vegetable market are focusing on reaching a large consumer base by implementing various strategies such as product innovations, marketing & promotional activity, strengthening distribution channels, and adopting sustainable production. Technology is also proving to be strong support for the demand for processed fruits & vegetables market to grow in the coming years.
For example, Sorma Group developed the HyperVision platform in January 2021, a cutting-edge, multi-wavelength lighting solution that provides exceptional fruit sorting and a high level of efficiency. It has the capability of analyzing up to 15 pieces of fruit each second.
Some of the leading companies in the processed fruits & vegetables market are Kellogg NA Co., Bühler, Welch’s, Sysco Corporation, Mott’s LLP, Krones AG, Bonduelle, U.S. Foods, Dole Foods, Jr. Simplot, and others.
Processed Fruits & Vegetables Market by Category
By Processing Equipment:
- Drying & Dehydration
Frequently Asked Questions
- What is the Processed Fruits & Vegetables Market Size?
- At What Growth Rate is the Processed Fruits & Vegetables Market Rising?
- What is the North American Processed Fruits & Vegetables Market Outlook?
- At What Rate will Processed Fruits & Vegetables Demand Grow in Europe?
- What Are the Key Trends Shaping the Processed Fruits & Vegetables Market?
- At What Rate Will Processed Fruits & Vegetables Demand Grow in Latin America?
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