Fruit & Vegetable Enzymes Processing Market Size to Grow at a CAGR of 6.81% During the Forecast Period 2020–2025
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By Source - Segment Analysis
In 2019, Fruit segment dominated the Fruit & Vegetable Enzymes Processing Market in terms of revenue is estimated to grow at a CAGR of 7.1% owing towards rise of food processing industry coupled with growing consumption of fruit based convenience foods. Fruit is a source of essential vitamins, minerals and other nutritional elements that are rich in fiber. It contains potassium, dietary fiber, vitamin C, antioxidants, flavonoids and other health beneficial essentials. It is used in ice cream, cakes and other food items owing to its flavor, texture and taste. It helps reduce constipation, diverticulosis and risk of chronic diseases. These enzymes are used to reduce the mixing time, decrease dough consistency and uniformity, regulate the gluten strength in bread and to improve the texture and flavor abetting towards the growth of the market.
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Geography - Segment Analysis
In 2019, the North America region dominated Fruit & Vegetable Enzymes Processing Market in terms of revenue with a market share of 39.1% owing towards the increase of processed food and beverages sector and increasing demand for fresh fruits and vegetables. The prioritization in the production of fruit and vegetables over grains by the Government in this region for the development of the farming aids to the market’s growth. Government has taken initiatives to promote technological advancements in this region are key factors in the growth of the Fruit & Vegetable Enzymes Processing market. Asia Pacific is estimated to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Fruit & Vegetable Enzymes Processing Market
Increase of Health-Conscious People
Increase in the number of health-conscious consumers drive the Fruit & Vegetable Enzymes Processing Market owing towards the demand for organic, fresh and exotic fruits and vegetables. This is partly owing to increased importance placed on a healthier lifestyle, leading consumers to look for healthier food and drink options without the added time of preparing from fresh like fruit juices, smoothies, soups and healthy ready meals. Consumers demand for high quality products with no changes in nutritional, mineral and calcium properties. Changes in food consumption pattern of people in the past few is driving the fruit and vegetable processing market as there is increased adoption of a vegan diet. Presence of retail and e-commerce channels has also driven the market for fruit and vegetable processed goods with the ease of availability and lower cost.
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Challenges – Fruit & Vegetable Enzymes Processing Market
The lack of proficient organization for Fruit & Vegetable Enzymes Processing system and growing stringent government policy and regulation toward market growth is restraining growth of the market. The high capital investments for equipment and strict regulations for the consumer safety are restraining the growth of the market. Lack of sufficient storage facilities and improper distribution and limited cold storage and transportation is hindering the market’s growth.
Fruit & Vegetable Enzymes Processing Industry Outlook
Product Launches was the key strategy of the players in the Fruit & Vegetable Enzymes Processing Industry. Fruit & Vegetable Enzymes Processing top 10 companies include GEA Group, JBT Corporation, Krones AG, Conagra Brands, Inc., Dole Food Company, Inc., The Kroger Company, Olam International, The Kraft Heinz Company, Greencore Group and Nestlé S.A.
In May 2020, GEA Group announced partnership SAP SE. The partnership is set to support GEA at further accelerating its efforts to digitize the company and its business model.
In November 2019, Olam International acquired Dangote Flour Mills Plc. a flour and pasta manufacturing company. This acquisition helped in increasing consumer demands for organic and chemical free products.
In January, 2019, The Kraft Heinz Company acquired Primal Nutrition, LLC, makers of Primal Kitchen branded products. This acquisition helped company by driving its growth across multiple categories and in reaching more consumers.
The growing demand for yielding high quality and quantity of food products across the globe coupled with constantly rising population and dietary changes is likely to be the major driving factor for the market’s growth.
Increase in demand for organic and fresh products is set to propel the growth of the market.
Increased demand for the consumption of dried fruits, canned fruit, and syrup preserved fruits. Increasing health awareness among consumers is steadily causing a shift towards safer, convenient, healthy, and refreshing beverages.
Asia-Pacific region is estimated to record the fastest growth rate during the forecast period 2020-2025.
Related Reports :
A. Food Processing Machinery Market
B. Cold Pressed Juice Market
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