What’s driving the Processed Fruits and Vegetables Market size? Key Players Archer Daniels Midland Company, Nestle, Sysco Corporation, Conagra Foods

Global Market Insights, Inc. has announced the launch of Processed Fruits and Vegetables Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

A recent instance demonstrating the popularity of processed fruits & veggies is the setting up of the fruit and vegetable processing plant by Lavifood Joint Stock Company in Tay Ninh province of Vietnam. The US$76.7 million plant has a production capacity of approximately 60,000 tons of finished products per annum. In recent years, noting the rising demand for Vietnamese fruits and vegetables, many investors have leveraged the abundance of local agricultural products in Vietnam and funded projects involving such processing plants, thus adding significant impetus to the regional processed fruits and vegetables market.

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Key players in this industry:
• Dole Food Company
• SVZ
• Archer Daniels Midland Company
• Sysco Corporation
• Conagra Foods
• Nestle

Fruit and vegetable processing in the Lavifood plant are at par with international standards as the plant reportedly uses modern technologies and machinery such as high-pressure processing that is reputed for preserving natural flavors and nutrition of produce while extending their shelf life. The plant would be producing frozen fruits, soft-dried fruits, juices and fruit juice concentrates that would be exported to Australia, Japan, South Korea, EU and U.S.

The global processed fruits and vegetables market has been registering rapid growth with the increase in consumption of frozen and tinned fruit and vegetables that have come to be preferred over the non-consumption of any kind of fruit and vegetables at all. Modern lifestyles with hectic schedules have made it harder to opt for the consumption of fresh fruits and vegetables but awareness about lack of fruit and vegetables in diet that can lead to chronic diseases has added considerable stimulus to the processed fruits and vegetables industry across all nations.

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Processed fruits and vegetables sector, had been previously hampered by the notion that processed items are not nutritionally as good as fresh ones. However such notions are being changed by studies that have shown that nutrient content of frozen fruits and vegetables as well as canned ones are comparable to fresh fruits and vegetables as freezing and canning can help to lock in the nutrition of produce at the peak of their freshness. Their shelf lives are also considerably elongated which is not the case in fresh vegetables and fruits which often go to waste quickly as hectic lifestyles often do not allow consumption of fruits and vegetables while they are fresh and nutritionally optimal.

Fresh fruits & vegetables accounted for more than 30% revenue share in 2018. Consumers inclination towards consumption of fresh fruits and vegetables owing to its nutrient locked feature is expected to boost the segment growth. Key factors including the absence of harmful contaminants, use of environmentally friendly preservation methods and freshness of the products will further increase the industry share.

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North America dominated the overall market in 2018 owing to high consumer spending on convenience foods coupled with growing awareness regarding the benefits of consuming fruits and vegetables. Additionally, increasing adoption of vegan & flexitarian diets owing to the increasing health issues along with demand for organic fruits & vegetables will provide strong growth prospects for the future. Extensive investments in automation technologies along with the presence of organized retail and e-commerce distribution channels will supplement the growth of processed vegetables and fruits market share.

The processed vegetables and fruits market share is highly fragmented with the presence of many regional players and multinational corporations. The key manufacturers include Dole Food Company, SVZ, Archer Daniels Midland Company, Sysco Corporation, Conagra Foods, and Nestle. The industry participants are involved in product innovation, collaborations, M&A, and capacity expansions to gain competitive advantage. For instance, in October 2018, Dole Food Company announced a new partnership with Safeway Fresh Foods to expand its product portfolio.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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