Fruit & Vegetable Processing Market Will Hit Big Revenues in Near Future

Posted on 2021-07-12 by MarketsandMarkets in Agriculture, Food & Beverage // 0 Comments

The global fruit & vegetable processing market was valued at USD 230.96 Billion in 2016 and is projected to grow at a CAGR of 7.1% from 2017, to reach USD 346.05 Billion by 2022. The global fruit and vegetable processing market comprises the global fruit & vegetable processing equipment market and processed fruits & vegetables 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.

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period followed by the South American region. Countries such as India and China are expected to be the major emerging markets for processed fruits & vegetables as well as fruit & vegetable processing equipment. The growth in the purchasing power and the wider availability of freezer units such as IQFs, increasing working population, growing number of distribution channels, and food service industry outlets such as McCain Foods, coupled with the government support in terms of foreign direct investment (FDI) and domestic policies are expected to drive the market growth in these regions.

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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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