According to the report “Fruit & Vegetable Ingredients Market by Category (Fruits and Vegetables), Nature (Organic, Conventional), Type (Concentrates, Pastes & Purees, NFC Juices, and Pieces & Powders), Application and Region – Global Forecast to 2027“, published by MarketsandMarkets™, the global 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.
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The rising demand for better functional ingredients, developments in processed food, favorable functionalities of fruit and vegetable ingredients in various end-use industries, and increasing use of clean label products are the major market drivers and opportunities that will influence the global fruit & vegetable ingredients market. Significant changes in the food & beverage processing industry over the last two decades have resulted in the high demand for packaged & processed food & beverage products.
Rising demand for sustainable products is a rapidly growing fruit & vegetable ingredients market.
Sustainability certification in the processed fruits & vegetables sector was once used to target niche markets (such as Fairtrade), but now sustainability claims and certification are one of the main trends in the mainstream market. The importance of sustainability created a new type of shopper – Eco-Actives. They are shoppers who are highly concerned about the environment and are taking action to reduce their waste.
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Inclination of consumers towards healthier alternatives is boosting the fruit & vegetable ingredients market.
In recent years, consumers have become increasingly conscious of adopting a healthy diet. This has led to a higher demand for healthy snacks and, more specifically, fruits & vegetables, and the need for cleaner, more natural products. As fruits & vegetables are highly perishable, people are switching towards alternatives containing natural fruits & vegetables, which is driving the market for fruit & vegetable ingredients.