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:
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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.
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