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The vegetable concentrates market share is expected to increase by USD 119.86 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4%.
This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (paste and purees and pieces and powders) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The market report also offers information on several market vendors, including Archer Daniels Midland Co., BMT Commodity Corp., Brecon Foods Inc., Capricorn Food Products India Ltd., Dohler GmbH, Encore Fruit Marketing Inc., Flavourtech Pty Ltd., Grunewald International, Ingredion Inc., Invertec Foods, JC Dudley and Co Ltd., Kanegrade Ltd., LEMONCONCENTRATE SL, Milne Fruit, Rahal Fruits and Flavors Inc., SunOpta Inc., Symrise AG, Nestle SA, Cooperatie Koninklijke Cosun UA, and Sensient Technologies Corp. among others.
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The rise in health-conscious consumers is notably driving the market growth, although factors such as stringent food safety legislation may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vegetable concentrates industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Vegetable Concentrates Market Driver
The rise in health-conscious consumers is one of the key drivers supporting market growth. Vegetables are essential components of a healthy diet if consumed in enough amounts. They help in preventing major diseases such as cancer. Also, fruit and vegetable mixed juices play a significant role in human nutrition as they are a great source of vitamins such as C, A, B, and E and many other dietary fibres. Vegetable concentrates have showcased increasing demand across the world as they provide the essential nutrients needed for the human body. Food products using vegetable concentrates help in weight management, lower blood cholesterol levels, and control insulin and glycemic responses. These factors are expected to drive the growth of the market during the forecast period.
Key Vegetable Concentrates Market Trend
The increasing trend for organic vegetable concentrates is one of the key market trends that is contributing to market growth. The use of organic vegetable concentrates is an ideal way to meet the needs of consumers that are seeking healthy products made with flavorful and organic ingredients. Organic fruits and vegetables contain various minerals, vitamins, omega-3, and some antioxidant properties. For example, SVZ Industrial Fruit & Vegetable Ingredients offers organic and baby food quality fruits and vegetable concentrations that can be used in various applications. This allows the company to manufacture high-quality nutritional puree blends in baby food products. Such health benefits associated with organic vegetable concentrates will drive market growth during the forecast period.
Key Vegetable Concentrates Market Challenge
Stringent food safety legislation is one of the factors hindering the market growth. Manufacturers face issues complying with the stringent rules and regulations imposed by authorities in the various countries they have their operations. These rules and regulations include granting permits, fulfilling all the regulations related to containers, packaging, and agricultural practices of the vegetable paste and puree, and the expiry of products. For instance, in the US, the manufacture and labelling of juice products that contain fruits and vegetables are closely regulated by the FDA. The FDA has also issued guidelines to minimize microbial food safety hazards of fresh-cut fruits and vegetables. Such strict regulations will hinder market growth during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global vegetable concentrates market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, and distribution to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for vegetable concentrate in North America. Market growth in this region will be faster than the growth of the market in South America and Europe.
The rising demand for packaged food and beverage goods will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 led to lockdowns in the region. Due to this, the demand for packaged vegetable concentrates increased as these products have a high shelf life. However, the lockdowns have been lifted since the second half of 2020, but the health impacts of COVID-19 have pushed people to adopt a healthy lifestyle which will continue to increase the demand for vegetable concentrates during the forecast period.
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The market share growth by the paste and purees segment will be significant during the forecast period. For instance, tomato paste is used as a base for manufacturing juices and ketchup and can be used as an ingredient in preparing dishes such as sauce for pasta and many recipes for chilli and beef stock, and spaghetti. Frozen vegetable purees are mixed in smoothies to provide a similar fibre content as whole vegetables. This also provides valuable nutrition and improves the digestion of consumers. Similarly, vegetable pastes are also a good source of nutrients. Vendors such as Dohler offer a broad range of pastes and purees, as well as concentrates that can be used perfectly in the food and beverage industry. Such benefits of paste and purees will drive the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
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Vegetable Concentrates Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4% |
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Market growth 2022-2026 |
$ 119.86 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.0 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, Canada, China, Germany, and the UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Archer Daniels Midland Co., BMT Commodity Corp., Brecon Foods Inc., Capricorn Food Products India Ltd., Dohler GmbH, Encore Fruit Marketing Inc., Flavourtech Pty Ltd., Grunewald International, Ingredion Inc., Invertec Foods, JC Dudley and Co Ltd., Kanegrade Ltd., LEMONCONCENTRATE SL, Milne Fruit, Rahal Fruits and Flavors Inc., SunOpta Inc., Symrise AG, Nestle SA, Cooperatie Koninklijke Cosun UA, and Sensient Technologies Corp. |
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Market dynamics |
Parent market analysis, 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 the forecast period |
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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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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