FMI report, the sales of processed fruits & vegetables are expected to surpass a value of US$ 539.8 Billion in 2032, rising at a CAGR of around 7.1% through the end of 2032.
The increase is attributed to the product’s high nutritional value and minimum processing. Manufacturers are redefining market trends for processed fruits and vegetables by adopting a variety of packaging methods to preserve the freshness of freshly cut fruits and vegetables. Modified atmospheric packaging (MAP) and edible coatings are becoming increasingly popular for extending the shelf life of freshly cut fruits and vegetables.
People want quick, nutrient-dense food options and healthier lifestyles, thus the market for processed fruits and vegetables is rising significantly. The business is poised for continued growth and product diversity as customers become more aware of the benefits of processed fruits and vegetables, such as their longer shelf life and ease of consumption.
According to a market survey of processed fruits and vegetables, there has been a boom in interest in the research and manufacture of meat substitutes in recent years. The global market for plant-based alternatives is anticipated to be worth $85 million by 2030.
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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.
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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.
Get Valuable Insights into Processed Fruits & Vegetables Market
FMI, in its new offering, provides an unbiased analysis of processed fruits & vegetables presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for Processed Fruits & Vegetables based on by type (vegetables and fruits), by processing equipment (processing, pre-processing, seasoning, washing, filling, packaging), by product (fresh, canned, fresh-cut, drying & dehydration, frozen) across five major regions.
Processed Fruits & Vegetables Market by Category
By Processing Equipment:
- Drying & Dehydration
- North America
- Latin America
- Asia Pacific
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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