Fruit And Vegetable Ingredients Market Insights, Competitive Analysis, Latest Trends, And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Fruit And Vegetable Ingredients Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The fruit and vegetable ingredients market size has grown strongly in recent years. It will grow from $221.27 billion in 2023 to $234.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to health awareness, clean label movement, flavor and taste enhancement, rise in vegetarian and vegan diets, shifting consumer preferences.

The fruit and vegetable ingredients market size is expected to see strong growth in the next few years. It will grow to $304.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising demand for natural food additives, innovative product development, convenience and ready-to-eat solutions, expansion in global markets, changing consumer dietary patterns. Major trends in the forecast period include global culinary fusion, sustainable sourcing and production, convenience and snacking trends, functional foods and ingredients, plant-based and vegan diets.

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Market Drivers and Trends:

Rising income levels are expected to propel the growth of the fruit and vegetable ingredients market going forward. Income levels refer to the amount of money or earnings that individuals or households receive within a specified period. Rising income levels positively influence the vegetable ingredient market by fostering consumer preferences for healthier and premium food options and driving demand for products that incorporate diverse and nutritious vegetable components. For instance, in August 2023, according to the Bureau of Economic Analysis, a US-based government agency, disposable personal income in the US increased by $7.3 billion (less than 0.1 percent). Therefore, rising income levels are driving the growth of the fruit and vegetable ingredients market.

Product innovation is the key trend in the fruit and vegetable ingredients market. Major companies operating in the food and vegetable ingredients market are focused on innovating new products to strengthen their market position. Product innovation allows businesses to remain relevant to their customers' needs while developing and improving over time. For instance, In September 2021, Koa Switzerland, a Switzerland-based start-up company operating in the food and vegetable ingredients market, partnered with French-based chocolate manufacturer Valrhona to create Oabika. Oabika is a concentration made from the white pulp that coats and protects the beans in the cocoa pod. It is filtered, pasteurized, and gradually lowered to 72 degrees Brix to generate a 100% cocoa pulp concentrate. Due to its distinct aroma and flavor is used in various applications, including ganaches, jellies, sauces, glazes, ice creams, and others.

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Major Key Players of the Market:

AGRANA Beteiligungs-AG, Archer Daniels Midland Company, Tate & Lyle plc, Olam International Limited, Ingredion Incorporated, Cargill Incorporated, Döhler GmbH, Sensient Technologies Corporation, SunOpta Inc., Diana Food SAS, SVZ Industrial Fruit & Vegetable Ingredients Inc., Kanegrade Ltd., FruitSmart Inc., Milne Fruit Products Inc., Tree Top Inc., Welch Foods Inc., Frutarom Industries Ltd., Givaudan SA, Symrise AG, Firmenich SA, International Flavors & Fragrances Inc., Takasago International Corporation, Mane SA, Kerry Group plc, Taura Natural Ingredients, Paradise Fruits Solutions GmbH, Van Drunen Farms, Kiril Mischeff Ltd.

Fruit And Vegetable Ingredients Market 2024 Key Insights:

• The fruit and vegetable ingredients market size is expected to see strong growth in the next few years. It will grow to $304.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Plant-Based Food Boom Drives Fruit And Vegetable Ingredients Market
• Innovative Trends In The Food And Vegetable Ingredients Market
• North America was the largest region in the fruit and vegetable ingredients market in 2023

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