Growth Opportunities in the Fruit & Vegetable Processing Market

Northbrook, USA, 2020-May-22 — /EPR Network/ — The global fruit & vegetable processing market is estimated to be valued at USD 245.97 Billion in 2017 and is projected to grow at a CAGR of 7.1% from 2017, to reach USD 346.05 Billion by 2022. The global fruit & vegetable processing market comprises the global fruit & vegetable processing equipment market and processed fruits & vegetables market. The market for fruit & vegetable processing is showing significant growth with the increase in the number of distribution channels such as supermarkets and hypermarkets and rising middle-class population & disposable income in developing economies such as China, India, and Mexico. The growing investments in automation development of processing technology along with freezing and packaging technology across the globe are the leading factors that contribute to the demand for fruit & vegetable processing equipment, worldwide.

Objectives of the study are as follows:

• To define, segment, and project the global fruit & vegetable processing equipment market size, with respect to type, operation type, and key regions.
• To define, segment, and project the global processed fruits & vegetables market size with respect to type, product type, and key regions.
• To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze the opportunities in the market for stakeholders and provide the competitive landscape of the market leaders
• To project the size of the market and its submarkets, in terms of value and volume, with respect to the regions (along with the key countries)
• To strategically profile key players and comprehensively analyze their market position and core competencies
• To analyze the competitive developments such as expansions, acquisitions, joint ventures/partnerships/collaboration, and new product developments in the fruit & vegetable processing market

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Based on type, the market has been segmented into fruits, vegetables, and others (jams, pickles, and preserved produce). The vegetables segments dominated the global processed fruits & vegetables market, in terms of both, value and volume. The increase in health consciousness among consumers and growing vegetarian population is expected to drive the demand for the vegetables segment.

Based on type, the fruit & vegetable processing equipment market has been segmented into pre-processing, peeling/inspection/slicing, washing & dewatering, fillers, packaging & handling, seasoning systems, and others (control & information systems, metal detectors, and fryer & oven systems, homogenizers, and weighers). The fillers and packaging & handling segments are projected to grow at the highest CAGR during the forecast period. The increase in innovations and technological advancements in the processing equipment industry is expected to drive this market during the forecast period.

North America is estimated to occupy the largest share of the global fruit & vegetable processing market, in terms of value, in 2017, owing to the mature fruit & vegetable processing industry and the presence of major companies such as JBT Corporation, Conagra Brands, and Dole Food. In the Asia Pacific region, India is projected to be the fastest-growing market during the forecast period. The changing lifestyles and preferences, increasing awareness regarding the benefits of processed fruits & vegetables, the growing health-conscious population, higher disposable incomes, and growth of the middle-class population are some of the factors driving the growth of the fruit & vegetable processing market in India. India has a varied agricultural climate, relatively inexpensive labor, and according to the FAOSTAT, it accounted for the second-largest population in the world in 2017, which is expected to support the growth of this industry. Key players in Europe and the US focus on tapping the fruit & vegetable processing market in countries such as India and China, owing to which Asia Pacific is expected to witness high growth in the coming years.

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The market for fruit & vegetable processing equipment is dominated by key players such as Bosch (Germany), Buhler (Switzerland), GEA Group (Germany), JBT Corporation (US), and Krones (Germany), while the market for processed fruits & vegetables is dominated by Conagra Brands (US), Dole Food (US), Kroger (US), Olam International (Singapore), The Kraft Heinz Company (US), Albertsons (US) Greencore Group (Ireland), and Nestlé (Switzerland).

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