Global Fruits and Vegetables Ingredients Market 2017-2021
About Fruits and Vegetables Ingredients
Fruits and vegetable ingredient products are the most common purchased products in different retail food stores. Fruits and vegetable ingredient products are used in most appealing food items. The market is experiencing a strong trend of rising number of single households. In addition, the increase in demand for natural ingredients owing to increasing consumer awareness as well as accelerated demand for snacks, convenience food, and beverage products will drive the growth of the global fruits and vegetables ingredients market.
Technavio’s analysts forecast the global fruits and vegetables ingredients market to grow at a CAGR of 5.11% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global fruits and vegetables ingredients market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fruits and Vegetables Ingredients Market 2017-2021
Technavio recognizes the following companies as the key players in the global fruits and vegetables ingredients market: AGRANA, Archer Daniels Midland, Döhler, Kerry, and Olam.
Other Prominent Vendors in the market are: Symrise, DMH Ingredients, KB Ingredients, Marshall Ingredients, Sensient Technologies, SunOpta, SVZ Industrial Fruit & Vegetable Ingredients, The Food Source International, Tree Top, and YAAX INTERNATIONAL.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of new products and varieties. New product launches can help companies in many ways such as it can open new revenue streams for companies as well as help them to compete better in marketplace and increase their market share. The number of product launches with different varieties is expected to increase over the forecast period owing to the increased demand for fruit and vegetable ingredients among consumers.”
According to the report, one driver in the market is rise in veganism. Veganism is the practice of refraining from the use of animal products, particularly in diet, and people who follow veganism are known as vegans. The rising adoption of vegan lifestyle around the globe will drive the fruits and vegetables ingredients market during the forecast period. People are turning vegan owing to reasons such as better prosperity, detoxification, sense of morality on creatures, and assurance of health benefits by consuming fruits and vegetables. Veggie lovers have witnessed an exponential development with three-fold growth in the most recent decade.
Further, the report states that one challenge in the market is product recall. Majority of fruits and vegetable ingredient manufactures purchase raw materials from third parties. Raw materials include dried fruits, vegetables, and some dairy products. Product recalls can be a major challenge for the growth of the global fruits and vegetables ingredients market. A company’s brand name is the most valuable asset. If not used properly, it can harm company’s reputation and may incur a heavy monetary loss. Product recalls can be costly and even higher than production costs. Contamination of food can cause fruits and vegetable poisoning. This in turn will result in the product being discarded or recalled, thereby affecting the company’s sales.
AGRANA, Archer Daniels Midland, Döhler, Kerry, Olam, Symrise, DMH Ingredients, KB Ingredients, Marshall Ingredients, Sensient Technologies, SunOpta, SVZ Industrial Fruit & Vegetable Ingredients, The Food Source International, Tree Top, and YAAX INTERNATIONAL.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook