12-Nov-2020 | Zion Market Research
According to the study carried out by Zion Market Research, the valuation of the global processed fruits and vegetables market in 2018 was more than USD 254 billion and is projected to observe a growth rate of above 6.7% CAGR during the forecast period. Archer Daniels Midland Company, SVZ, Conagra Foods, Nestle, and Sysco Corporation are few of the dominating players in the global processed fruits and vegetables market. Other prominent market players are Pinnacle Foods, B&G Foods, Agrana, and Bunge. The players are actively engaged in collaborations, product innovation, capacity expansions, and mergers & acquisitions to achieve competitive benefits. For example, a new partnership was announced with Safeway Fresh Foods by Dole Food Company in October 2018 to increase its product portfolio.
Rising Health Awareness To Help Boost The Demand For Processed Fruits And Vegetables
The growth of the processed fruits and vegetables market can be attributed to the altering lifestyles because of hectic agendas and quick urbanization together with ready accessibility and enhanced product offering. Further, the rising stipulation for organic foods having natural flavors components because of increasing health awareness and constructive government rules is expected to boost the product penetration. Also, preserved fruits are progressively utilized more in a range of applications like fruit juices, bakery, confectionery, and ice cream because of longer shelf-life provided by processors. Moreover, increasing need for processing equipment and technological advancements is projected to drive market growth.
Increasing Demand For Exotic Fruits And Juices To Drive The Processed Fruits Segment
The global processed fruits and vegetables market is segmented based on product, type, processing equipment, and region. The product segment is divided into drying & dehydration, fresh-cut, fresh, frozen, and canned. The type segment of the market is bifurcated into vegetables and fruits. Based on processing equipment, the processed fruits and vegetables market is categorized into processing, pre-processing, filling, washing, packaging, and seasoning. In 2018, the processed fruits segment had a considerable market share. Rising exports and imports for bananas, citrus fruits, and apples due to rising demand for exotic fruits and juices is expected to boost the product scope. Further, the constructive outlook for marmalades and fruit jams is anticipated to propel the market growth.
With Advanced Processing Technologies, North America To Rule The Market
In 2018, the global processed fruits and vegetables market was ruled by North America and is expected to stay dominant in the forecast period. The market growth in this can be attributed to technological development for the production of fresh vegetables and fruits together with updated processing methods for end-use industry. Further, Asia Pacific is also anticipated to witness substantial market growth in the years to come owing to the convenient and innovative fruits and vegetables ingredient solutions provided to food processing firms together with the rising number of supermarkets in this region.
Browse the full “Processed Fruits and Vegetables Market by Type (Fruits and Vegetables), By Product (Fresh Cut, Canned, Frozen, Dried, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/processed-fruits-and-vegetables-market
The global processed fruits and vegetables market is segmented as follows:
By Product & Service
By Processing Equipment
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