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Fruit and Vegetable Ingredients Market to Reach $180B by 201

author:Naturalindate:2015-03-19 13:42Click: times
Driven by the rise in consumption of processed food and beverage producs in developed and developing countries, the market for fruit and vegetable ingredients is projected to grow at a CAGR of 6.6% to reach $180 billion by 2019.

Food and beverage manufacturers have witnessed tremendous growth in the processed F&B industry in the last five years. This has substantially affected the fruit and vegetable ingredients industry and an upsurge was recorded in this industry, simultaneously. New technologies have also initiated the emergence of innovative ingredients derived from fruits and vegetables.

Driven by the rise in consumption of processed food and beverage producs in developed and developing countries, the market for fruit and vegetable ingredients is projected to grow at a CAGR of 6.6% to reach $180 billion by 2019, according to MarketsandMarkets. The Europe region was the largest market.

To maintain a competitive edge in the fruit & vegetable ingredients market, the key players were observed to prefer acquisition as a strategy to move into new and untapped markets, acquiring local players of the industry and building a new customer base for long-term client relationships. This has not only enabled the key players to expand their geographical reach, but has also reinforced their market position by gaining a larger share in terms of revenues and product portfolios. Small-scale players also adopted this strategy to expand their businesses, globally, by investing in the establishment of manufacturing facilities and technical service centers in various regions. This inorganic growth strategy is an important proposition for the smaller companies, enabling them to increase their technical expertise through intensive R&D infrastructure offered by the bigger players.

Europe lead the market for fruit and vegetable ingredients in 2014, owing to substantial market growth in the processed food & beverage industry, resulting from increased consumption of beverages and food products containing ingredients derived from fruits and vegetables. The Asia-Pacific and RoW regions are estimated to grow at a higher rate as compared to the matured markets of developed economies.
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