What is market size and CAGR value of vegetable puree market?
The global market for vegetable puree has been estimated to obtain a CAGR of 5.64 % during the forecast period by Market Research Future (MRFR). MRFR identifies the chief reason behind the strong growth to be the accelerated product demand owing to the nutritional benefits associated with it and reach a value of USD 14.73 billion by 2030
The top players in the worldwide vegetable puree market are Encore Fruit Marketing, Inc. (U.S.), Baby Gourmet Foods Inc. (Canada), Kerr concentrates (U.S.), SVZ Industrial Fruit & Vegetable Ingredients (The Netherlands), Dohler GmbH (Germany), Kagome Co. Ltd (Japan), Tree top Inc. (U.S.), ITC (India), to name a few.
Market Drivers and Top Restraints
Vegetable puree refers to a rich source of vitamins as well as nutrients, which elevates its demand and drives the vegetable puree market growth. Consuming vegetable puree is highly convenient as it is ideal for those that suffer from certain nerve disorders. It is used by a variety of industries including beverages, dairy & frozen desserts, baby nutrition, and others on account of its nutritional value. As every type of vegetable puree offers different nutritional content, the market can get a substantial boost in the coming years, as product variety appeals to consumers.
Vegetable is also considered to be an economical replacement for fresh vegetables, a factor that works in the market’s favor. Furthermore, as it is a natural source of flavor to food, it notes accelerated demand the world over. Moreover, vegetable 0070uree market share has also gained prominence in infant formulas, in addition to the rise in awareness among the health-conscious population. This benefits the market to a great extent.
Having said that, non-palatability of the product works against the market. But the growing inclination towards organic food products could provide the market with several growth opportunities in the future.
The worldwide vegetable puree market size has been segmented with context to type, type of vegetable and application.
Type-based segments in the market are organic and conventional. The organic segment notes higher acceptance than its counterpart due to the rising awareness about its health benefits.
With respect to the type of vegetable, the report covers carrots, beets, pumpkins, peas, spinach, and others. Out of these, the carrot segment covers the maximum share of the market based on its rising application in baby food as well as healthy beverages. Apart from this, spinach and pumpkins segments can also expect substantial growth during the review period.
Depending on the application, the vegetable puree for adult market is broken down into baby nutrition, beverages, dairy & frozen desserts, and others. Among these, the baby nutrition segment leads the market, with beverages being the second-leading segment. Increasing application of vegetable puree in soup, smoothies, and other functional beverages adds to the growth of beverages segment.
The global vegetable puree market is spread across the primary regions of Europe, Asia Pacific, North America, plus the rest of the world (RoW).
Asia Pacific has been identified as the most lucrative market for vegetable puree, with Europe following suit. Countries in Asia Pacific like India, Japan, China, and Australia are the highest contributors to the vegetable puree market trends. Evolving consumption pattern, as well as high inclination towards organic vegetables, favors the regional market.
Europe, as the second-leading vegetable puree industry, benefits from the elevated demand for healthy food options, expanding baby food industry and the off seasonal demand for vegetables. The region also notes strong demand for soups instilled with the nutritional value of vegetable puree, which adds to the strength of the market.
North America could rise at a lucrative pace over the review period backed by the growing health-conscious population. The United States (U.S.) is the biggest contributor to the North America market. The factors favoring the market include rising product range coupled with surging focus on marketing by industry participants. The market also gets a boost from the boost in the number of working women who opt for ready-made puree instead of preparing it at home.
A USD 750,000 project BioInnovate Africa, has been launched in Kigali. This project aims to turn potato into a cash crop. It will help upscale the sweet potato puree for bakery applications in East Africa, as part of instilling beta-carotene into food items
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