Global Fruit and Vegetable Processing Market to Expand at 7.9% CAGR by 2021
Deerfield Beach, FL -- (SBWIRE) -- 07/17/2017 -- Zion Market Research has published a new report titled "Fruits and Vegetables Processing Market (Fresh, Canned, Frozen, Fresh Cut, Dried, And Convenience Products) by Processing Equipment (Packaging, Pre-Processing, Washing and Dewatering, Processing, Filling, and Seasoning), Operation Type (Automatic and Semiautomatic): Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020." According to the report, global demand for fruit and vegetable processing market was valued at USD 203.3 billion in 2014, is expected to reach USD 319.9 billion in 2020 and is anticipated to grow at a CAGR of 7.9% between 2016 and 2020.
Fruit and vegetable processing industry has taken a new direction and is growing gradually with strong growth rate annually. Infrastructure development for processing may take this industry to the new heights in the years to come with the help of sufficient exports and investments. Fruit and vegetable processing is done widely in the food and beverage industry. Several types of processing such as drying, canning, freezing, and preparation of jams, juices, and jellies augment the shelf life of fruits and vegetables. The main objective of fruit and vegetable processing is to supply nutritious and wholesome food to consumers all over the year.
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Significantly changed an eating habit and technological innovation in processing techniques helped fruit and vegetable processing industry reach the great height. Further factors such as rising consumer demand for fresh and healthy products that are easily available and need minimum preparation time are further fuelling the market growth. Several processed fruits and vegetable products are fruits, juices vegetables and others. Out of which processed vegetables and fruits shows great potential and holds the majority of share approximately 52% of the overall market in 2014. These segments are projected to grow at the strong CAGR by 2020. Demand for processed products has grown mainly faster in developing economies as industrial growth has translated into greater urbanization, higher per capita incomes, and rising middle-class population.
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Processing method is different for each of these product segments. Several type of processing equipment used includes packaging, pre-processing, washing and dewatering, processing, filling, and seasoning. The product type segment of the fruit and vegetable market include fresh, canned, frozen, fresh cut, dried, and convenience products. Canned fruits and vegetables emerged as potential segments due to rising demand and consumption worldwide and acquired around 20% of the overall market share in 2014. Different operation types of processing equipment are semi-automatic and automatic.
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North America dominated the fruit and vegetable processing market in 2014 which was mainly contributed by high consumption of frozen food products in U.S. and Canada. However, due to increasing health awareness consumers are expected to shift their preference toward fresh produce in the long run. Demand for processed fruits and vegetables have grown strongly in the developing countries of Asia-Pacific over the past five years. China is the world's leading exporter of processed fruit and vegetables. India is one of the world's largest producers of fresh fruit and vegetables, however, fruit and vegetable processing is relatively undeveloped in this country.
Due to a variety of products in this market, there are regional differences in specific fruit and vegetable input production and different vegetable and fruit product preferences country-by-country. Well known players in this market space are McCain Foods Ltd., GEA Group AG, Del Monte Foods, Inc., Nestle S.A., Safeway, Inc., Krones AG, Conagra Foods, Inc., Dole Food Company, Inc., Maxwell Chase Technologies, The Kroger Company, Greencore Group PLC, Campbell Soup Company and H. J. Heinz Company.
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