The global fruit and vegetable processing market are projected to reach a value of nearly USD 11.8 billion by 2027, growing at a CAGR of 6.4% from 2022. It is estimated to account for nearly USD 8.7 billion in 2022. In the 21st century, globalization has led to an increase in trade and resulted in aggressive R&D initiatives by several food & beverage manufacturers. Advanced technologies for food ingredients and food processing include membrane technology, super-critical fluid technology, and molecular techniques such as Polymerase Chain Reaction (PCR) and High-Pressure Processing (HPP) technology. Other new processing technologies use non-thermal preservation techniques such as pulsed electric fields, ultrasound, pulsed light, and hurdle systems to maintain the texture and freshness of the food products. Development of new machinery and enhancement of the existing ones are the key strategies adopted by many players in the fruit and vegetable processing market. In addition, increasing focus on the expansion of facilities, marketing schemes, and information exchange programs to create awareness and enhance the applications of fruit and vegetable processing is projected to contribute to the growth of the market.
Fruit and Vegetable Processing Market Drivers: Growth in the demand for convenience food products
The processed food industry thrives on the growing need for convenience amidst busy lifestyles. Increased per-capita income drives the demand for ready-to-eat and on-the-go food, particularly processed fruit and vegetable products. This trend fuels the positive outlook for the fruit and vegetable processing market. Consumers benefit from the ease of use, consumption, and longer shelf life of processed foods. Developing countries like China, India, and Brazil are shifting from traditional homemade meals to ready-to-eat options. The Covid-19 pandemic further boosted sales of pantry staples, with canned soup sales skyrocketing by 200% year over year in March and frozen food sales up by 40%. Comfort foods, like fruit juices, saw significant demand spikes, further propelling growth in the fruit and vegetable processing market.
Fruit and Vegetable Processing Market Opportunities: Growing demand for Vegan food products
In recent years, there has been a surge in interest towards creating and manufacturing plant-based alternatives to meat. Projections suggest that the global market for these substitutes could soar to USD 85 million by 2030. Additionally, in the United States, the demand for beef and dairy products is anticipated to dwindle significantly, potentially by 80–90% by 2035. Manufacturers of plant-based foods are leveraging fruits, vegetables, legumes, and pulses, while also considering fruit-based options due to their nutritional profile and ability to enhance texture and flavor.
The Asia Pacific market is projected to have the second highest market share by value during the forecast period
Between 2000 and 2018, global fruit and vegetable production increased by roughly half. Asia, particularly East Asia, saw the greatest absolute increase (where China has been the largest producer). The greatest increases were seen in Central Asia, in relative terms (where production of both fruits and vegetables more than tripled). There are enough fruits and vegetables in Asia and upper middle-income countries to meet the FAO/WHO recommendation of 400/gram per day.
Top Companies in the Fruit and Vegetable Processing Market
Key players in this market include GEA Group AG (Germany), Bühler (Switzerland), Alfa Laval (Sweden), JBT Corporation (US), Syntegon Technology GmbH(Germany), Krones AG (Germany), Marel (Iceland), Bigtem Makine A.S.(Turkey), FENCO Food Machinery S.R. L.(Italy), ANKO FOOD MACHINE CO.LTD (Taiwan), Heat and Control, Inc. (Sweden), Finis (Netherlands), Conagra Brands (US), Greencore Group (Ireland), Nestlé S.A (Switzerland), Olam International (Singapore), The Kraft Heinz Company (US), PepsiCo Inc. (US), AGRANA Group (Austria), Bonduelle (France), Dole Food (US), SVZ International B.V. (US), Sahyadri Farms (India) and Diana Group S.A.S.(France).
