Global Fruit and Vegetable Processing Market to Expand at 7.9% CAGR by 2021
Deerfield Beach, FL -- (SBWIRE) -- 10/03/2017 -- According to the report, global demand for fruit and vegetable processing 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. 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."
Fruits and vegetables are amongst the perishable commodities and vital ingredients in the human dietary. They are the cheaper and better food source and make a considerable nutritional contribution to human well-being owing to their high nutritive value. 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.
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Rising disposable incomes, quality and convenience, increasing levels of fruit and vegetable imports, increasing rates of urbanization, consumer demand for safety, scientific and technological developments, and the growth of fast food chains and supermarkets are driving the growth of processed fruits and vegetable market in developing the region. Currently, processed, ready-to-eat or frozen food is gaining popularity owing to product diversification, changing food habits, mass production practices, and busy lifestyle. However, stringent food safety regulation for processed food products affects the market growth.
Different processed fruits and vegetable products are vegetables, fruits, juices and others. In terms of processed products processed vegetables and fruits shows great opportunities and holds the majority of share approximately 52% of the overall market in 2014. These segments are predicted 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 higher per capita incomes, greater urbanization, and rising middle-class population.
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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. The processing method is different for each of these product segments. Several types of processing equipment used include packaging, pre-processing, washing and dewatering, processing, filling, and seasoning. Operation types of processing equipment are semi-automatic and automatic.
Geographically, North America dominated the global fruit and vegetable market with over 31% market share in 2014. This was mainly contributed by increased U.S. frozen food consumption. Europe is one of the major players in the world trade for processed fruits and vegetables (PFV). Germany, UK, France, Belgium and the Netherlands are some of the biggest importers of PFV in this region. Africa and the Middle East represent a region with a very large potential consumer base for processed fruit and vegetable products.
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Companies in this industry are continuously striving for distinct and innovative ways to improve their market share and sales. Some of the well-established players in this market include Nestle S.A., GEA Group AG, Del Monte Foods, Inc., Safeway, Inc., Krones AG, Conagra Foods, Inc., JBT Corporation, Dole Food Company, Inc., Maxwell Chase Technologies, The Kroger Company, Greencore Group PLC, Bosch Group, Buhler Group and H. J. Heinz Company.
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