Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Fruit And Vegetable Processing Market Size & Share Analysis - Growth Trends & Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
Globally, the fruit and vegetable processing industry is witnessing an upward trajectory, with market size anticipated to expand from USD 63.72 billion to a projected USD 76.42 billion, charting a CAGR of 3.7% within the span of 2023-2028. The market's impressive growth is attributed to evolving consumer behaviors and the increasing need for convenience in dietary habits. The rich bounty of the sector now includes innovative offerings such as cold-pressed products catering to the burgeoning plant-based consumer segment.
This market's expansion is being driven by growing income levels and the pervasive desire for ready-to-eat products due to hectic lifestyles. With consumers in urban environments prioritizing time-saving measures, including reduced shopping trips, the demand for processed varieties that offer extended shelf life and storage convenience is on the rise.
Emerging Trends in Fruit and Vegetable Processing
Energy efficiency in food processing equipment is stepping into the spotlight. Prominent industry players are investing in advancing technology to incorporate energy-efficient machinery that promises to lower operational costs and support sustainable practices. Such initiatives address the energy consumption concerns in food processing, which holds a 4% share of industrial energy usage on a global scale.
Dietary shifts towards processed fruits and vegetables are gaining momentum, with the market responding positively to the consumers' nutritional requirements. The demand in this segment is propelling the fruit and vegetable processing industry forward.
North American Market Spearheading Growth
The North American region is at the forefront, powered by surging imports and heightened consumer awareness about the health benefits of fruits and vegetables. The inclination towards canned and processed varieties for their extended shelf life is a significant growth driver in this market.
Competitive Landscape
The competitive dynamic within the industry rests on strategic pricing, though a surge in product diversification is an emerging trend observed among companies vying for a stronger market presence. Well-established entities and emerging players alike are innovating in packaging, refining ingredient lists, emphasizing ingredient freshness and health benefits, and launching cutting-edge products.
Key market leaders include prominent names with a focus on enriching the fruit and vegetable processing sector. Their continued dedication to innovation underscores the market's vitality and competitive nature.
As the industry landscape evolves, so does the consumer landscape, with processed fruits and vegetables establishing themselves as essential facets of modern-day convenience and nutrition.
Highlights of the Fruit and Vegetable Processing Market Analysis
- Rising consumer preference for convenience foods
- Energy-efficient equipment becoming a pivotal factor for industry growth
- Nutritional value retention in processing techniques
- North America's dominance in the global market, driven by high consumer spending and automation
The comprehensive analysis sheds light on the significant trends, growth drivers, and market dynamics poised to shape the fruit and vegetable processing landscape over the forecast period.
A selection of companies mentioned in this report includes:
- Agrana
- Archer Daniels Midland Company
- Nestle
- Conagra Foods
- B&G Foods
- Kraft Heinz Company
- Albertsons Companies Inc.
- SVZ International
- OLAM International
For more information about this report visit https://www.researchandmarkets.com/r/jj8t3v
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