Vegetable Concentrates Market 2023 Growth Drivers, Regional Outlook Till 2033
An industry report estimates that vegetable concentrates Market is expected to generate US$ 5,223.92 million by 2023. According to estimates, the market is forecast to reach US$ 7,716.96 million between 2023 and 2033, representing a CAGR of 4%. Due to changing lifestyles and growing health and benefit awareness, vegetable concentrate markets are expected to grow in the market.
Research shows that supplementing
geriatric populations with vegetable concentrates can lower cholesterol levels
and inflammation markers, especially in inflammation-prone individuals. For
instance, Australian researchers evaluated the effects of fruit and vegetable
supplements on people older than 40 who have a BMI over 28 kg/m2. They estimate
that overall cholesterol was reduced by 3.5 percent, including LDL cholesterol,
corresponding to a weight loss of 4kg and an overall reduction of 9% in
cardiovascular disease risk.
Among consumers who are becoming
more aware of food choices, in 2023, the food industry is expected to undergo a
few changes. Demand for food and beverages with immune-boosting components in
combination with the trend toward sustainable, renewable, plant-based foods is
driving demand for these products and constituents. In recent decades, the Do
It Yourself (DIY) phenomenon has grown in popularity, and it is expected to
continue in growing years.
With the advent of new devices
and innovative technologies, vegetable concentrates will become more in demand
in the future. Rapid changes in the market are leading companies to rethink
their strategy of expanding outside of their traditional markets. In addition
to broadening their product portfolios and introducing new products, food, and
beverage companies plan to capture international and domestic markets.
Information Source:
https://www.futuremarketinsights.com/reports/vegetable-concentrates-market
Key Takeaways from the Market
Study
- According to the report, the vegetable concentrates
market exhibited a growth rate of 2.1% between 2018 and 2022.
- Puree-based vegetable concentrates held a market
share of 35.60% in 2022.
- United States vegetable concentrates accounted for
23% of market share in 2022.
- With significant growth over the past few years,
the beverage industry accounted for 32.60 % of the market in 2022.
- According to estimates, the Indian industry
exhibited a CAGR of 4.8% in 2022.
- As of 2022, the German market for vegetable
concentrates contributed 13.2% to the global market share.
- According to estimates, tomato concentrates
accounted for 31.70% of the market by 2022.
“With the increasing health
and nutritional benefits of vegetable concentrates and the growth of
supplements in the market, vegetable concentrates are expected to increase in
demand. Increasing consumer demand for clean labels and vegan diets will drive
vegetable concentrate growth in the market,” says an FMI analyst.
Competitive Landscape
Product launches are one of the
key strategies used by companies operating in the market. The focus of research
activities is aimed at enhancing the flavor, texture, and nutritional value of
concentrates made from vegetables. Some of the companies are focusing on
mergers and acquisitions as their key strategies to gain a competitive
advantage.
- In May 2023, Dongwon F&B hosted a large-scale
event with 51 percent discounts on its healthy functional foods. Under its
premium health functional food brand Oliniq, it produces a highly
concentrated multivitamin called Ultra Vita Action. Liquid, capsules, and
tablets are all combined in one bottle. It can be taken once a day
anywhere, anytime without water.
Key Companies Profiles
- Kerr Concentrates
- Lemon Concentrate
- Encore Fruit
- Greenwood
- SVZ
- Dohler Group
- Kanegrade
- YAAX
- Rahal Fruits and Flavors
- Food Ingredients United States
Know More about What the
Vegetable Concentrates Market Report Covers
Future Market Insights offers an
unbiased analysis of the global vegetable concentrates market, providing
historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in
the vegetable concentrates market, the market is segmented based on product
form, application, vegetable type and sales channel across seven major regions.
Vegetable Concentrates Market
by Category
By Product Form:
- Puree Form
- Powder Form
- Pieces Form
- Frozen Form
By Vegetable Type:
- Tomato
- Beetroot
- Pea
- Carrot
- Pumpkin
- Other Vegetables
By Application:
- Beverage
- Soups & Sauces
- Confectionery
- Other Applications
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Comments
Post a Comment