“The fruit & vegetable processing market is projected to grow at a CAGR of 7.1%.”
The fruit & vegetable processing market is projected to grow at a CAGR of 7.1% from 2017, to reach USD 346.05 billion by 2022. The global fruit & vegetable processing market comprises the global fruit & vegetable processing equipment market and processed fruits & vegetables market. The demand for processed fruits & vegetables is projected to be on the rise, owing to factors such as increase in disposable incomes, the growing middle-class population, the introduction of technologically advanced products, and benefits such as long shelf life offered by processed fruits & vegetables. However, few incidences of food recall in the food industry may hamper the growth of the fruit & vegetable processing market during the forecast period. The demand for fruit & vegetable processing equipment is also growing remarkably due to the growth of the processed fruits & vegetables market. Thus, processors are actively opting for automated and integrated equipment to focus on a broader field of processed fruit & vegetable applications and the growing demand for processed products with better health benefits. Therefore, the fruit & vegetable processing equipment market is projected to grow significantly during the forecast period.
“The fresh segment, by product type, is projected to be the fastest growing in the processed fruits & vegetables market.”
In terms of both value and volume, the fresh segment is projected to grow at the highest CAGR between 2017 and 2022. Increase in consumer expenditure on value-added fruits & vegetables, growth in consumer health awareness, and rise in aging population have also contributed to the increase in demand for fresh produce. Growth in awareness about healthy lifestyles among the consumers of developed nations such as the US and various countries across the European Union are also driving the growth of the fresh segment. Hence, the demand for fresh product type in the processed fruits & vegetables market is projected to witness significant growth in the coming years.
“North America is projected to dominate the fruit & vegetable processing market through the forecast period.”
North America is projected to dominate the fruit & vegetable processing market, in terms of value and volume, through 2022. This region comprises developing economies such as the US and Canada which occupy a significant share of the global fruit & vegetable processing market. Factors such as sustainable investments in the development of automation for processing technology, the presence of key fruits & vegetables processing companies, coupled with organized retail & e-commerce distribution channels are the main factors contributing to the growth of the North American fruit & vegetable processing market. The key players in the processing equipment market in North America extensively use automated technologies to increase their productivity and meet consumer demand for quality and value-added produce. Hence, the active developments strategized by the dominant players in the US also act as a driving factor in the expansion and growth of fruit & vegetable processing market.
Break-up of primaries:
- By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C level – 35%, Director level – 38%, and Others – 27%
- By Region: North America – 40%, Europe – 28%, Asia Pacific – 24%, South America 6%, and RoW – 2%
The market for fruit & vegetable processing equipment is dominated by key players such as Bosch (Germany), Buhler (Switzerland), GEA Group (Germany), JBT Corporation (US), and Krones (Germany), while the market for processed fruits & vegetables is dominated by Conagra Brands (US), Dole Food (US), Kroger (US), Olam International (Singapore), The Kraft Heinz Company (US), Albertsons (US) Greencore Group (Ireland), and Nestl? (Switzerland).
The processed fruits & vegetables market has been segmented based on type and product type. On the other hand, the fruit & vegetable processing equipment market has been segmented based on type and operation type. In terms of insights, this research report has focused on various levels of analyses?industry analysis, market share analysis of top players, and company profiles?which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global fruit & vegetable processing market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons To buy this report:
- To get a comprehensive overview of the fruit & vegetable processing market with specific reference to the product type and operation type market
- To gain a wide range of information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major regions/countries in which the fruit & vegetable processing industry is flourishing