South America Fruit & Vegetable Ingredients Market- Growth, Trends, and Forecast (2020 - 2025)

The fruit and vegetable ingredient in South America Market is expected to register a CAGR of 4.51% during the forecast period from 2020 to 2025.

• The rise of tourism along with the hotel and restaurant industry in South America, is opening up new avenues and demand of innovative fruit and vegetable ingredients in South America, to make final dishes appealing to foreigners, and also to meet the needs of fast altering local consumer’s tastes and preferences.
• On the other hand, the country has a growing preference towards the inclusion of vegetables as an ingredient in their daily diet such as that of traditional native crops ie. potatoes, oca, olluco, mashua, quinoa, tarwi and other products that form part of the rich agricultural treasures.

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Growing Popularity of Food Retailing Industry in Brazil

Across Brazil, food retailing is one of the growing sectors that has garnered significant growth which post hit by the recession, food retailers were less affected and seem to be recovering faster than other segments of the economy. The position of food retailers that enables them to offer customers with a different combination of price, convenience, and purchasing costs have led manufacturers to redesign their product offering. On the other hand, imported products with high-performance ingredients present good market potential over the coming as trends such as health and wellness (H&W) and the increasing income middle-class continue to be important growth drivers in the country.

Beverages holds significant growth, followed by dairy & bakery segment

The fruit & vegetable ingredient market is expected to witness a growing penetration in the beverage segment followed by dairy and bakery products. Rising consumption levels across all processed beverage categories have led to plenty of promise for new products, sales, and new beverage players. Although countries such as Brazil have reduced the consumption of milk, there has been a lateral increase in terms of dairy product consumption.

Expanding opportunities in the South American fruit and vegetable ingredient market can be attributed to the increasing demand for enhanced nutritional and organic products due to the growing obesity trends in South America. This is increasing the demand for fruit and vegetable ingredients, whose suppliers are manufacturing these quality products, that can be added to fortified food and beverage products.

Competitive Landscape

Some of the leading manufacturers and suppliers of the fruit and vegetable ingredient in South America are Cargill Incorporated, Archer Daniels Midland Company, and Olam International. The major companies in the South America fruit and vegetable ingredient market are majorly focused on developing innovative product launches to cater to the increasing demand of end-users and end-user industries for tailored formulations, using farm-fresh fruits and vegetables.

In terms of the acquisition, in June 2017, Dohler acquired Cargill Brazilian fruit processing unit to increase its footprint in the South American region. This acquisition by Dohler was made to increase its presence in the South American market by increasing its production in the region.

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