NEW YORK, March 7, 2016 /PRNewswire/ -- "Global fruit & vegetable ingredients market projected to grow at a CAGR of 6.6%"
The fruit & vegetable ingredients market is projected to grow at a CAGR of 6.6% and reach USD 201.67 billion by 2020. The market is driven by factors such as increased demand for snacks & convenience food and beverage products due to changing consumer preferences. Furthermore, factors such as increasing disposable income and rapid urbanization have also increased the demand for fruit & vegetable ingredients. The high growth potential in emerging markets and untapped regions provides new growth opportunities for market players.
"Beverages and confectionery products accounted for the largest share"
Among the applications of fruit & vegetable ingredients, beverages accounted for largest share in the global fruit & vegetable ingredients market. The market for fruit & vegetable ingredients for application in beverages is driven by health-conscious consumers who prefer natural ingredients in their diets. Furthermore, a trend toward healthier beverage choices by consumers has caused the dairy industry to include fruit & vegetable ingredients in their offerings.
"Asia-Pacific to lead the market in terms of growth rate"
On the basis of region, the fruit & vegetable ingredients market is led by the Asia-Pacific region in terms of growth rate during the review period. The usage of fruit & vegetable ingredients in the industrial sector is less in the Asia-Pacific region, which presents fruit & vegetable ingredients manufacturers with considerable untapped potential here. Furthermore, rising consumption of convenience and ready-to-eat food products owing to changing lifestyle and increased disposable income provides opportunities to packaged food manufacturers in the region.
The market size of fruit & vegetable ingredients estimated in this study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided into three categories: by Company, by Designation, and by Region.
- By Company Type: Tier 1 – 20 %, Tier 2 – 45% and Tier 3 – 35%
- By Designation: Director level – 50%, C level – 22%, and Others – 28%
- By Region: North America – 45%, Europe – 25%, APAC – 18%, Latin America – 12%
Leading players such as Archer Daniels Midland Company (U.S.), Kerry Group plc (Ireland), AGRANA Group (Austria), Sensient Technologies Corporation (U.S.), and Olam International Limited (Singapore) have been profiled in the report. The other players include DoehlerGroup (Germany), SunOpta, Inc. (Canada), SVZ International Limited (Singapore), SensoryEffects Ingredient Solutions (U.S.), and DIANA S.A.S. (France).
Reasons to buy this report:
- To get a comprehensive overview of the global fruit & vegetable ingredients market
- To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the fruit & vegetable ingredients market is flourishing
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