The global fruit & vegetable processing market comprises the global fruit & vegetable processing equipment market and processed fruits & vegetables market. The fruit & vegetable processing market has been largely driven by the growing demand for convenience foods, the growing foodservice industry, the increased presence of modern retail outlets, and growing awareness about the benefits of fruits & vegetables.
The global fruit & vegetable processing market is estimated to reach USD 245.97 Billion in 2017 and is projected to reach USD 346.05 Billion by 2022, at a CAGR of 7.1% from 2017.
The market for fruit & vegetable processing equipment is dominated by key players such as Bosch (Germany), Buhler (Switzerland), GEA Group (Germany), JBT Corporation (US), and Krones (Germany), while the market for processed fruits & vegetables is dominated by Conagra Brands (US), Dole Food (US), Kroger (US), Olam International (Singapore), The Kraft Heinz Company (US), Albertsons (US) Greencore Group (Ireland), and Nestlé (Switzerland).
Based on type, the market has been segmented into fruits, vegetables, and others (jams, pickles, and preserved produce). The vegetables segments dominated the global processed fruits & vegetables market, in terms of both, value and volume. The increase in health consciousness among consumers and growing vegetarian population is expected to drive the demand for the vegetables segment.
Based on type, the fruit & vegetable processing equipment market has been segmented into pre-processing, peeling/inspection/slicing, washing & dewatering, fillers, packaging & handling, seasoning systems, and others (control & information systems, metal detectors, and fryer & oven systems, homogenizers, and weighers). The fillers and packaging & handling segments are projected to grow at the highest CAGR during the forecast period. The increase in innovations and technological advancements in the processing equipment industry is expected to drive this market during the forecast period.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period followed by the South American region. Countries such as India and China are expected to be the major emerging markets for processed fruits & vegetables as well as fruit & vegetable processing equipment. The growth in the purchasing power and the wider availability of freezer units such as IQFs, increasing working population, growing number of distribution channels, and food service industry outlets such as McCain Foods, coupled with the government support in terms of foreign direct investment (FDI) and domestic policies are expected to drive the market growth in these regions.
