Global fruit and vegetable processing market to reach $14.1bn by 2030
Health awareness is said to be a driving force behind encouraging projections for the global fruit and vegetable processing market which is expected to almost double in the coming years
A new report by Zion Market Research says the sector is set to increase to $14.1bn (€13.08bn), up from $8.5bn (€7.9bn) in 2022 – with a compound annual growth rate (CAGR) of roughly 6.5% between 2023 and 2030.
Rising demand for convenience foods, an expanding food service industry, and an increase in contemporary retail outlets support the expansion of the fruit and vegetable processing industry, will all help fuel the growth, the findings show.
In terms of customer preferences, the report stated that ready-to-eat goods have gradually replaced traditionally prepared breakfasts and snacking meals in emerging countries such as China, India, and Brazil during the last two decades.
According to a December 2020 “Food Processing” report, sales of pantry products and other home needs soared during COVID-19. Frozen food sales surged by 40% in March, while canned soup sales increased by 200% year on year. Demand for fruit juices and other comfort foods increased dramatically. This has aided the growth of the industry for processed fruits and vegetables.
In addition, fruit and vegetables are both major food products in their own right and key ingredients in many processed foods, and there has been growing research on the importance of health, and techniques to preserve the nutritional and sensory qualities desired by consumers.
As far as opportunities and challenges are concerned Zion said that customers want premium goods with unaltered nutritional, mineral, and calcium qualities. The industry for processing fruits and vegetables is being driven by changes in people’s eating habits over the past several years and the rising popularity of veganism. Due to their affordability and ease of availability, the presence of retail and e-commerce platforms has further fueled the industry for processed fruits and vegetables.
Among the challenges and restraints will be product recalls relating to contaminated products, which will limit market growth. In addition, the report stated that physiological deterioration and infections act as a major challenge for the market expansion.
“Agriculture production is fundamentally reliant on the fresh food value chain. It affects a wide range of additional factors, including farmer profit margins, export conditions, and the consequences on a country’s economy. The likelihood of loss can be increased by typical physiological changes brought on by environmental factors that hasten natural degradation, such as high temperatures, low air humidity, and physical damage.
“Aberrant physiological deterioration is typically observed when fresh food is subjected to temperature extremes, air changes, or contamination. Due to undesirable odors, inability to ripen, or other changes in the food’s biological processes, the product may become unsuitable. Thus, acts as a major challenge for market growth.”
Fruit and Vegetable Processing report highlights:
- Based on the type, the vegetable segment held the largest revenue share in 2022.
- Based on the product type, the canned segment is expected to dominate the market throughout the forecast period.
- Based on the technology, the High Pressure Processing (HPP) segment is expected to hold the largest market share during the forecast period.
- Based on region, North America is expected to dominate the market during the forecast period.
- Drivers in the fruit and vegetable processing market include a growing demand for healthy convenience foods
- Restraints to growth in the fruit and vegetable processing market will include product recalls
- Challenges to growth will include potential and unforeseeable issues with food production
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