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The vegetable concentrates market is forecast to increase by USD 96.8 million and is estimated to grow at a CAGR of 3.27% between 2023 and 2028. In today's health-conscious society, there is a significant rise in demand for nutritious and convenient food solutions. One emerging trend is the ready-to-eat (RTE) food market, which caters to consumers seeking quick and healthy meal options. This sector has experienced exponential growth due to the increasing number of individuals with busy lifestyles. Furthermore, the surge in veganism and vegetarianism has fueled the demand for RTE plant-based meals. Companies are responding to this trend by offering a wide range of RTE products that cater to various dietary preferences and restrictions, ensuring consumers have access to nutritious, convenient, and ethically-sourced meal solutions.
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Vegetable concentrates are becoming increasingly popular in the food industry due to their numerous benefits. These concentrates, which include vegetable purees and powders, offer food manufacturers and culinary professionals the ability to add nutritious vegetable content to their products while maintaining a consistent flavor and color. The long shelf life of vegetable concentrates makes them an attractive option for large-scale production, reducing waste and storage costs. The dairy industry and baby food industry are significant consumers of vegetable concentrates due to their functionality in enhancing the nutritive value of their products. Natural food additives derived from vegetable concentrates provide a cost-effective solution for adding essential nutrients to food and beverages. Vegetable concentrates offer a wide range of benefits, including extended shelf life, improved nutritive value, and consistent flavor. The natural nature of these concentrates makes them an attractive alternative to synthetic additives, and their low production costs make them an affordable option for food and beverage companies. The market is expected to grow significantly in the coming years, driven by the increasing demand for natural and healthy food and beverage options. The market is expected to be driven by the growing popularity of vegetable concentrates in the dairy and baby food industries, as well as their use as natural food additives in beverages. In conclusion, vegetable concentrates offer numerous benefits to the food and beverage industry, including improved nutritive value, consistent flavor, and extended shelf life. The market for vegetable concentrates is expected to grow significantly in the coming years, driven by the increasing demand for natural and healthy food and beverage options. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rise in health consciousness consumers is notably driving market growth. The vegetable concentrate market is witnessing significant growth due to the increasing vegan populace and the preference for plant-based food among health-conscious consumers. Urbanization and consumerism trends have led to a shift towards healthier food options, with an emphasis on the wholesome effect of vegetables.
Moreover, chillis, black beans, plums, mushrooms, and other vegetable concentrates are in high demand for their health benefits and ease of use in various food applications. The market is fragmented with both local and international players. Local players dominate the market due to their strong foothold in the domestic market and the availability of raw materials. Thus, such factors are driving the growth of the market during the forecast period.
Increasing trend for organic vegetable concentrates is the key trend in the market. The market for organic vegetable concentrates is experiencing significant growth due to the increasing preference for plant-based and healthier food options among the vegan populace and health-conscious consumers.
Moreover, processing capacities for organic vegetable concentrates are expanding to cater to this demand, with a focus on various vegetables such as Chillis, Black beans, Plums, and Mushroom. The fragmented market comprises both local players and international players, each offering unique wholesome effects and health benefits. Thus, such trends will shape the growth of the market during the forecast period.
Stringent food safety legislations is the major challenge that affects the growth of the market. The market experiences a fragmented landscape, with both local and international players contributing to its growth. Key vegetable types, such as Chillis, Black beans, Plums, and Mushroom, undergo processing at various capacities to deliver wholesome effects.
Moreover, the plant-based and vegan populace's increasing preference for healthier food options propels the market forward. Strict regulations imposed by various authorities, including the FDA in the US, necessitate adherence to guidelines regarding permits, container and packaging regulations, agricultural practices, and product expiry. These rules ensure the highest standards for vegetable paste and puree production, ultimately benefiting consumers. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Archer Daniels Midland Co: The company offers vegetable concentrates that are used in applications such as juices, and low-juice beverage.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The paste and purees segment is estimated to witness significant growth during the forecast period. Vegetable concentrates have gained significant attention in the food industry due to their numerous benefits for food manufacturers and health-conscious consumers. These concentrates, available in various forms such as purees, powders, and pieces, offer extended shelf life, reduced production costs, and enhanced nutritive value for numerous food products.
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The paste and purees segment was the largest segment and valued at USD 342.20 million in 2018. Culinary professionals value vegetable concentrates for their ability to maintain flavor and functionality in large-scale production of soups, sauces, and beverages. The dairy and beverage industries have embraced vegetable concentrates as functional ingredients in the production of nutritious milkshakes, smoothies, and fruit juices. The baby food industry also relies on these concentrates to provide essential nutrients in gluten-free meals. Hence, such factors are fuelling the growth of this segment during the forecast period.
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North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Vegetable concentrates have become increasingly popular among food manufacturers and culinary professionals due to their numerous benefits. These concentrates, available in various forms such as purees, powders, and pieces, offer extended shelf life and reduced production costs for large-scale production. In the health-conscious consumer market, vegetable concentrates add nutritive value to various food products, including beverages, baked goods, soups, and gluten-free meals. Zucchini, for instance, is a popular vegetable used in the production of concentrates. Hence, such factors are driving the market in North America during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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Vegetable concentrates have gained significant attention in the food industry due to their numerous benefits. These concentrates, which include purees and powders derived from various vegetables, offer food manufacturers and culinary professionals the ability to enhance the flavor, nutritive value, and functionality of various food products. Shelf life and low production costs are essential factors driving the demand for vegetable concentrates in large-scale production. The dairy, beverage, baby food, and baking industries are major consumers of these concentrates. Health-conscious consumers are increasingly opting for nutritious vegetable concentrates as natural food additives in their diets. The beverage industry, particularly in the production of fruit juices, uses vegetable concentrates as functional ingredients to improve taste and nutritional benefits. Vegetables such as zucchini are popular choices due to their antioxidant content and low sugar levels. Zucchini pieces and dried shreds are widely used in gluten-free meals, while zucchini powder is a popular ingredient in baking products and soups.
Moreover, vegetable concentrates offer several advantages, including longer shelf life, easy storage, and the ability to maintain nutritional value during processing. The market landscape depends on the Quality of the product, Vegetable ingredient, Functional ingredient, Dried zucchini shreds, Gluten free meals, Fruits and vegetables concentrates, Plant based, Food and beverage manufacturers. The concentrates' functionality extends to various applications, including as natural sweeteners, such as fructose, in beverages and food products. In the health and wellness sector, Large scale production, Processed and packaged food industry, Soups and sauces industry, vegetable concentrates are used to cater to the growing demand for nutritious and natural food additives. Technology plays a crucial role in the production of vegetable concentrates, ensuring the preservation of nutritional value and flavor during processing. The market for vegetable concentrates is expected to continue growing as consumers increasingly seek out healthier and more natural food options.
Market Scope |
|
Report Coverage |
Details |
Page number |
140 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.27% |
Market growth 2024-2028 |
USD 96.8 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.12 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, China, Germany, Canada, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Archer Daniels Midland Co., BMT Commodity Corp., Brecon Foods Inc., Capricorn Food Products India Ltd., Cooperatie Koninklijke Cosun UA, Dohler GmbH, Encore Fruit Marketing Inc., Flavourtech Pty Ltd., Grunewald International, Ingredion Inc., Invertec Foods, JC Dudley and Co Ltd., Kanegrade Ltd., LEMONCONCENTRATE SLU, Milne, Nestle SA, Rahal Fruits and Flavors Inc., Sensient Technologies Corp., SunOpta Inc., and Symrise AG |
Market dynamics |
Parent market analysis, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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