NEW
YORK, July 16, 2024 /PRNewswire/ -- The global
processed vegetable market size is estimated to grow by
USD 89.9 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a
CAGR of over 11.04% during the forecast period. Increasing demand
for processed vegetables is driving market growth, with a trend
towards processed vegetable manufacturers and distributors
venturing into private-label marketplace. However, threat from
unorganized players and intense competition among vendors
poses a challenge. Key market players include Amazon.com
Inc., Archer Daniels Midland Co., Ardo Coordination Center NV, B
and G Foods Inc., Charoen Pokphand Foods PCL, Conagra Brands Inc.,
Cooperatie Koninklijke Cosun UA, Dole plc, Farmers Market Foods
Inc., J.D. Irving Ltd., Libbys Brand Holding, Mitsubishi Corp.,
Ninos Fresh Cut Fruit and Veg LLC, NutriAsia Inc., Del Monte
Pacific Ltd., Seneca Foods Corp., Smith Frozen Foods Inc., Sprouts
Farmers Market Inc., Sysco Corp., and The Fresh Gourmet Co..
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Processed Vegetable
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
11.04%
|
Market growth
2024-2028
|
USD 89.9
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
9.65
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 36%
|
Key
countries
|
US, China, UK, Germany,
and India
|
Key companies
profiled
|
Amazon.com Inc., Archer
Daniels Midland Co., Ardo Coordination Center NV, B and G Foods
Inc., Charoen Pokphand Foods PCL, Conagra Brands Inc., Cooperatie
Koninklijke Cosun UA, Dole plc, Farmers Market Foods Inc., J.D.
Irving Ltd., Libbys Brand Holding, Mitsubishi Corp., Ninos Fresh
Cut Fruit and Veg LLC, NutriAsia Inc., Del Monte Pacific Ltd.,
Seneca Foods Corp., Smith Frozen Foods Inc., Sprouts Farmers Market
Inc., Sysco Corp., and The Fresh Gourmet Co.
|
Market Driver
Private-label brands are experiencing notable growth in the
global retail market due to competitive pricing and ease of access
to food and beverages. Major players, such as Whole Foods Market
Inc. (a subsidiary of Amazon) and Sysco, have expanded their
product offerings by introducing private-label brands. For
instance, Sysco sells a variety of processed vegetables under its
FreshPoint brand in North America,
while Whole Foods offers a range of private-label processed
vegetables under its 365 Everyday Value brand. Key offerings
include Organic Cut Green Beans, Sliced Beets, and Hearts of Palm
(Salad Cut). The perceived high quality and lower price are
expected to fuel the sale of these private-label processed
vegetables in the global market, contributing to its significant
growth during the forecast period.
The processed vegetable market is witnessing significant growth
due to increasing urbanization and consumer preferences for
convenience. Canning, drying, and juice preparation are popular
methods used to create value-added products. Consumers value the
longer shelf life and natural taste of these processed vegetables,
which offer health benefits including minerals, protein, fiber, and
vitamins. Modernization and convenience factors are driving the
demand for processed vegetables. Canning and heat treatment help
preserve natural properties, while additives are used sparingly to
enhance flavor. Organic and natural fresh products are also gaining
popularity in the market. Frozen and portability are key factors in
the convenience of processed vegetables. Supermarkets and
hypermarkets dominate the product distribution, but online
retailing and e-commerce are growing in popularity. Daily diet
staples like canned vegetables and juice are popular, with product
diversity increasing to cater to various tastes and preferences.
Despite the benefits, processed vegetables face criticism for
reduced natural properties. However, the market continues to grow,
with consumers prioritizing the health benefits and convenience
over the slight reduction in natural properties. The market is
expected to remain competitive, with agriculture playing a crucial
role in supplying raw materials.
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Market Challenges
- The processed vegetable market is currently facing significant
challenges from unorganized players, particularly in major
producing and exporting countries like China and India. Unorganized cottage-scale industries
dominate these markets, making it difficult for organized vendors
to compete. The market is highly competitive with numerous global
and regional players, distributors, and private-label vendors. The
high demand for processed vegetables encourages new entrants,
increasing competition. The fragmented market structure poses
challenges in implementing standardization and integration of
technologies. Distributors and private-label vendors often
outsource production to third-party manufacturers due to the
difficulty of maintaining standardized manufacturing technology.
These factors, including the threat from unorganized players and
intense competition, may hinder the growth of the global processed
vegetable market.
- The processed vegetable market faces several challenges in
providing value-added products with natural taste and health
benefits while maintaining convenience. Reduced natural properties
due to heat treatment, additives, and shelf life concerns are major
hurdles. The cold market for organic, natural fresh products
competes fiercely with frozen and canned vegetables. Convenience
foods catering to busy lifestyles and increased disposable incomes
have led to the popularity of processed vegetables in supermarkets
and hypermarkets. However, the shift to online retailing and
e-commerce platforms poses new challenges. Import-export analysis
is crucial for revenue pockets, especially in regions with high
agriculture productivity. Equipment cost and competition from
unorganized players in the industry are ongoing concerns. Product
diversity, including juices, ready-to-eat formats, and fresh-cut
vegetables, is essential to cater to daily diet preferences.
Overall, the processed vegetable market requires continuous
innovation to meet consumer demands while maintaining natural
flavors and ingredients, reducing costs, and ensuring product
distribution through various channels.
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Segment Overview
This processed vegetable market report extensively covers market
segmentation by
- Product
- 1.1 Canned vegetables
- 1.2 Frozen vegetables
- 1.3 Fresh-cut vegetables
- Distribution Channel
- 2.1 Hypermarkets and supermarkets
- 2.2 Independent retailers and convenience store
- 2.3 Speciality food stores
- 2.4 Online retailers
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Canned vegetables- The processed vegetable
market is a significant sector in the food industry. Companies
produce and sell a variety of vegetables that have undergone some
form of processing, such as canning, freezing, or dehydration.
Consumers value the convenience and extended shelf life these
products offer. Market size and growth depend on factors like
production costs, consumer preferences, and competition from fresh
produce and other processed foods. Companies focus on innovation,
sustainability, and cost-effective production methods to stay
competitive.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
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reports
The global market for fruit and vegetable mixed juices is
experiencing robust growth, driven by rising health consciousness
and demand for convenient nutrition. Consumers are increasingly
opting for natural, vitamin-rich beverages that offer a blend of
flavors and health benefits. Key players are innovating with
organic ingredients and functional additives to cater to diverse
tastes and health preferences.
The global canned food market continues to expand, fueled by
convenience, longer shelf life, and busy lifestyles. Canned foods
offer convenience without compromising on nutrition, making them
popular among urban consumers. Growth is also driven by innovations
in packaging and preservation techniques, ensuring quality and
freshness. Key segments include fruits, vegetables, soups, and
seafood, with sustainable practices gaining traction among
manufacturers.
Research Analysis
The processed vegetable market caters to the increasing demand
for convenient and nutritious food options among consumers. With
the trend of modernisation and urbanisation, the market for
processed vegetables has seen significant growth. Heat treatment
and the addition of natural ingredients like minerals, protein,
fibre, vitamins, and minerals have made these products an essential
part of daily diets. Consumers prefer processed vegetables for
their portability, long shelf life, and ease of use. Supermarkets
and hypermarkets are major distribution channels, but online
retailing and e-commerce platforms are also gaining popularity. The
market offers a wide range of products, including frozen
vegetables, canned vegetables, juice, and convenience foods. Busy
lifestyles and disposable incomes have led to an increase in demand
for processed vegetables. However, the market also faces challenges
such as the reduction in the consumption of natural fresh products
and the rise in imports. Product diversity remains a key focus
area, with organic and natural processed vegetables gaining
popularity.
Market Research Overview
The processed vegetable market caters to the increasing demand
for convenient and nutritious food options among consumers.
Vegetables, rich in minerals, protein, fiber, vitamins, and other
essential nutrients, undergo various processing techniques such as
canning, flavoring, drying, and juice preparation to enhance their
shelf life and convenience. Modernization and urbanization have
fueled the popularity of processed vegetables, offering natural
taste and health benefits. Canning, a common method, retains
vegetable's natural properties while extending their shelf life.
Heat treatment and the addition of additives are essential in this
process. Value-added products like frozen, portability, and
ready-to-eat formats cater to busy lifestyles and disposable
incomes. The market includes organic and natural fresh products,
with convenience foods gaining traction. Supermarkets,
hypermarkets, online retailing, and e-commerce platforms are
significant distribution channels. Agriculture plays a crucial role
in the supply chain, with imports and exports playing a role in
product distribution. Despite the convenience and health benefits,
processed vegetables face criticism for reduced natural properties.
Product diversity, including juices, canned vegetables, and
fresh-cut vegetables, is a key revenue pocket. Equipment costs and
competition from unorganized players are challenges. Import-export
analysis and revenue pockets offer growth opportunities.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Canned Vegetables
- Frozen Vegetables
- Fresh-cut Vegetables
- Distribution Channel
-
- Hypermarkets And Supermarkets
- Independent Retailers And Convenience Store
- Speciality Food Stores
- Online Retailers
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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