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Global Vegetable Concentrates Market to Grow at a CAGR of 3.40% During 2022-2027, Aided by the Rising Health Awareness among Consumers

According to a new report by EMR titled, ‘Global Vegetable Concentrates Market Report and Forecast 2022-2027’, the market attained a value of over USD 4.4 billion in 2021. The industry is further expected to grow at a CAGR of 3.40% in the forecast period of 2022-2027 to reach a value of more than USD 5.4 billion by 2027.

The global vegetable concentrates industry is being driven by the growing health awareness among consumers, leading to heightened demand for natural and organically produced products. The increased demand for vegetable powders made with broccoli and pumpkin is also predicted to bolster the market growth in the forecast period. In addition, the increased use of vegetable pieces and powders, such as beetroot powder in the production of personal care products such as soaps and face masks, are also expected to contribute to the industry growth.

The growing consumer demand for plant-based functional products leads to increased investments by the leading market players in developing efficient vegetable concentrates, which is estimated to catalyse the industry growth in the forecast period significantly. In February 2020, ADM (NYSE: ADM) announced its plans to expand the production of non-GMO soy protein concentrate suitable for all food applications at its Europoort facility in the Netherlands. Other market players such as the Nestlé Professional, a subsidiary to Nestlé (OTCMKTS: NSRGY), offer the CHEF® Vegetable Liquid Concentrate, a rich and flavourful mix of onion and parsley that can add a depth of flavour to soups and stews, among others. It boasts of containing no artificial colours, flavours, or preservatives. Such factors are expected to significantly impact the growth of the vegetable concentrates industry in the forecast period.

Market Breakup by Category, Vegetable Types, Application, and Region:

  • The market is divided on the basis of category into paste and purees and pieces and powders.
  • Based on vegetable types, the market can be distributed into soy, carrot, tomato, peas, beetroot, and pumpkin, among others.
  • Based on application, the industry is segregated into beverages, confectionary products, bakery products, soups, and sauces, among others.
  • The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for vegetable concentrates is driven by the rising health awareness worldwide.
  • The increased demand for vegetable concentrates in confectionary products and baked goods have significantly contributed to the market expansion.
  • Heightened demand for ready-to-cook and ready-to-consume foods, especially among the working population, are also aiding the industry's growth.
  • The rising disposable incomes and improved living standards of the people are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for vegetable concentrates for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the categories, vegetable types, applications, and major regions of vegetable concentrates.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global vegetable concentrates market are SunOpta, Inc., Döhler Group, Olam International, Symrise AG, and Kerr Concentrates, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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