The global vegetable concentrates market is expected to register a CAGR of 4.35% during the forecast period (2020 - 2025).
Key Market Trends
Strong Growth in Plant Based Functional Food
In response, to the propelling demand for vegetable ingredient such as concentrates, purees and powders as a functional ingredient in the food and beverage industry has exponentially expanded its application. The utilization of vegetables pieces and powders in the production of soups and baking products that include vegetable on their ingredient lists is increasing worldwide.
For instance, Zucchini pieces, in the form of dried zucchini shreds, are increasingly being used to thicken soups and stews to enhance the flavor of the dishes and increase the nutritional value of the food prepared. Zucchini powder (flour) provides a base for gluten-free meals and baked goods, such as muffins, bread, or pancakes.
Increasing Prominence of Vegetable Concentrates in the Asia-Pacific Region
China is one of the major consumers for fruits and vegetables concentrates, as it has well-established technology and processing capacities, which enabled the country to produce a diverse set of products at ease. The Chinese manufacturers of such ingredients and concentrates are making their offerings reasonable and convenient, and they align with the growing health and wellness trend.
Ingredients usually derived from chillis, black beans, and plums are favored for soups and sauces in China. Over the past years, China witnessed a growth in the vegan populace, where consumers showed a growing interest in plant-based and mushroom-based 'counterfeit meats', which expanded the product penetration rate of vegetable-based ingredients to create a wholesome effect.
Competitive Landscape
The global vegetable concentrates market is highly fragmented, with numerous local and international players competing for major market share. Companies, like Olam International and SunOpta Inc., hold the dominant position in the market, closely followed by Ingredion Incorporated, Dohler Group, and Kanegrade, among others. Companies are actively involved in developing innovative products, which are encouraging food and beverage manufacturers to use vegetable concentrates to enhance their product quality and increasing health benefits to consumers.
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- The rapid expansion of the processed and packaged food industry, and increasing awareness regarding the consumption of healthy and fortified food and beverages, is expected to accelerate the demand for natural food additives, eventually driving the sales of vegetable concentrates.
- Also, the lower production costs along with the possibility of large-scale production; diverse application areas in the beverage, dairy, baby food and soups and sauces industries; better functionality in terms of maintaining the quality of the product; providing prolonged shelf life; and reducing transportation and storage costs are driving the demand of vegetables concentrates across the globe.
Key Market Trends
Strong Growth in Plant Based Functional Food
In response, to the propelling demand for vegetable ingredient such as concentrates, purees and powders as a functional ingredient in the food and beverage industry has exponentially expanded its application. The utilization of vegetables pieces and powders in the production of soups and baking products that include vegetable on their ingredient lists is increasing worldwide.
For instance, Zucchini pieces, in the form of dried zucchini shreds, are increasingly being used to thicken soups and stews to enhance the flavor of the dishes and increase the nutritional value of the food prepared. Zucchini powder (flour) provides a base for gluten-free meals and baked goods, such as muffins, bread, or pancakes.
Increasing Prominence of Vegetable Concentrates in the Asia-Pacific Region
China is one of the major consumers for fruits and vegetables concentrates, as it has well-established technology and processing capacities, which enabled the country to produce a diverse set of products at ease. The Chinese manufacturers of such ingredients and concentrates are making their offerings reasonable and convenient, and they align with the growing health and wellness trend.
Ingredients usually derived from chillis, black beans, and plums are favored for soups and sauces in China. Over the past years, China witnessed a growth in the vegan populace, where consumers showed a growing interest in plant-based and mushroom-based 'counterfeit meats', which expanded the product penetration rate of vegetable-based ingredients to create a wholesome effect.
Competitive Landscape
The global vegetable concentrates market is highly fragmented, with numerous local and international players competing for major market share. Companies, like Olam International and SunOpta Inc., hold the dominant position in the market, closely followed by Ingredion Incorporated, Dohler Group, and Kanegrade, among others. Companies are actively involved in developing innovative products, which are encouraging food and beverage manufacturers to use vegetable concentrates to enhance their product quality and increasing health benefits to consumers.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned
A selection of companies mentioned in this report includes:
- SunOpta Inc.
- Dohler Group
- Hans Zipperle SpA
- European Freeze Dry
- Van Drunen Farms
- Olam International Limited
- Symrise AG
- Kanegrade Ltd
Methodology
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