Fruit & Vegetable Ingredients Market Growth, Leading Key Players, Trends, Industry Analysis, and Forecast to 2027
The fruit & vegetable ingredients market is estimated to be valued at USD 207.8 billion in 2021. It is projected to reach USD 280.9 billion by 2027, recording a CAGR of 5.2% during the forecast period. The fruit & vegetable ingredients market has been growing in accordance with the processed food industry. The busy lifestyles and evolving eating habits in developing economies such as China, India, and Brazil have driven the market for processed food & beverages; hence, there is a rise in demand for fruit & vegetable ingredients. Key players in this market include Cargill(U.S), Ingredion(U.S), Tate & Lyle(U.K) ,AGRANA Beteiligungs-AG (Austria), Kerry(Ireland).
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Cargill is involved in the manufacturing and marketing of food ingredients, agricultural products, risk management, financial, and industrial products & services around the globe. Cargill operates in 70 countries through its subsidiaries and affiliates. The company distributes its wide range of products to its customer base in over 125 countries at a global level. Its geographical network spans North America, Latin America, Europe, Asia Pacific, and Africa. Its subsidiaries include The Mosaic Company (US), NatureWorks LLC (US), and The Wilbur Chocolate Company (US).
Tate & Lyle company is a global provider of ingredients and solutions for the food, beverage, and industrial markets, operating for over 160 years with the purpose to help people make healthier and tastier food and drink choices, whilst supporting communities and caring for the planet. The company works with customers to use low and no-calorie sweeteners to help remove millions of tons of sugar from people’s diets, add gut-friendly fibers that provide health benefits, create tasty treats at an affordable price with nutritive sweeteners, use textures to create smooth, creamy, indulgent desserts, stabilize foods, and enhance recyclable packaging materials for online retailers.
Ingredion is a leading global ingredients solutions company. The company manufactures sweeteners, starches, nutrition ingredients, and biomaterials that are used by customers in everyday products from foods and beverages to paper and pharmaceuticals. In 2015, Kerry Concentrates became part of the Ingredion group of companies and extended its capabilities to deliver clean and simple ingredient solutions. The products developed or the custom formulations created upholds the integrity and richness of raw fruits & vegetables.
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In 2021, Europe accounted for a market share of 36.9% in the global fruit & vegetable ingredient market. The European fruit & vegetable ingredients market is completely driven by the German market. The German food & beverage processing industry accommodates the fruit & vegetable ingredients sector with a large consumer base with high purchasing power and good infrastructure for further processing. In the German market for fruit & vegetable ingredients, this growth is likely to be catapulted by the country’s attractive and competitive location factors, which are underpinned by an above average export rate of around 45% of the total exports. The market is characterized by its small- and medium-sized enterprise sector. The largest industry segments, by production value, are confectionery, bakery products, and dairy products. Other growth segments are fueled by the health and wellness trend, which has led to increased demand for healthy food & beverage products.
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