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Preserving food and vegetables
using natural preservatives and additives, to extend their shelf lives, is a
practice embraced by our ancestors since the beginning of time. Modern
processing units, too, work on the same lines, with few adaptions here and
there. The processed
fruit and vegetable market, currently valued at US$ 74,134.8 million, holds
prospects of a bright future in the coming years.
The internet and eCommerce boom
in emerging economies has made the general population come across a plethora of
foreign fruits and vegetables from international marketplaces. This is said to
take the market to a staggering US$ US$ 107,500.4 million by the year 2034.
Countries like India, China, Spain, Egypt, Tunisia, etc., which are known for
their high-quality fruits and vegetables, are some of the most lucrative
markets.
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The processed fruit and vegetable
market is currently rising in the sustainability wave, with companies embracing
sustainable harvesting, procuring, processing, and packaging of processed
fruits and vegetables. The market is slated to develop at a CAGR of 3.80%
during the forecasted period. Besides this, consumer demand to eat certain
fruits throughout the year is also augmenting the market growth in the past few
years.
“There are still a lot of
concerns regarding the nutritional values of processed fruits and vegetables.
Companies in the market must plan their marketing strategies accordingly so
that they win back the trust of the general populace again”, opines an FMI
analyst.
Key Takeaways from the Market
Study
·
The fruits segment dominates the processed fruit
and vegetable market with a share of 52.30% in 2024.
·
Based on product, the frozen segment leads the
processed fruit and vegetable industry with a share of 25.60% in 2024.
·
The processed fruit and vegetable industry in
India is anticipated to progress at a CAGR of 8.60% through 2034.
·
The processed fruit and vegetable market in
Germany is estimated to rise at 7.10% CAGR through 2034.
·
The processed fruit and vegetable industry in
Japan has the potential to increase at 8.30% CAGR through 2034.
·
The United States processed fruit and vegetable
industry is predicted to rise by 6.70% CAGR through 2034.
·
The processed fruit and vegetable market in
China is very likely to progress at a CAGR of 7.90% through 2034.
Competitive Landscape
The processed fruit and vegetable
market is mature with several local and international companies having a strong
foothold.
·
eCommerce platforms in emerging economies have
drastically changed the market dynamics.
·
Kellogg NA Co., Bühler, Welch’s, Sysco
Corporation, Mott’s LLP, Krones AG, BonduelleTop of Form, etc., are some of the
major players in the global processed fruits and vegetables market.
·
Companies are now directly supplying fruits and
vegetables to supermarkets and food chains.
Recent Developments:
·
In November 2023, a joint venture between NADEC
and Del Monte was established in Saudi Arabia. The primary aim of the joint
venture was to increase the production and distribution of fresh commodities,
including fruits, vegetables, and juices. NADEC secured a 37.5% stake in the
new company, which specialized in various products.
·
In March 2024, AgriNurture, Inc. completed its
acquisition of Freshness First Pty. Ltd., an Australian firm. The acquisition
process had been initiated nearly five years prior, and ANI now has full
control over the company. The deal, which was announced in October 2018, was
finalized for AUS $1.00.
Key Companies
·
Kellogg NA Co.
·
Bühler
·
Welch’s
·
Sysco Corporation
·
Mott’s LLP
·
Krones AG
·
Bonduelle
·
USA Foods
·
Dole Foods
·
Jr. Simplot
Information Source: https://www.futuremarketinsights.com/reports/processed-fruits-and-vegetables-market
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