North America fruit & vegetable ingredient market is anticipated to witness a CAGR of 4.52% during the forecast period (2020 - 2025).
- The changing consumer lifestyles, evolving eating habits, and rigorous R&D on increasing demand for natural ingredients due to increasing consumer awareness are the prime reasons for the inflated demand of fruit and vegetable ingredients in the region.
- The health benefits associated with the ingredients have also played a vital role in the growth of the products in the regional market.
- The lifestyle modification has led to the consumers swaying away from traditional home-made breakfast to snacking meals in order to save time and compensate for the daily nutrient intake, simultaneously. Thus, the rising demand for such foods is expected to drive the market in the region well in the near future.
Key Market Trends
Fruit and vegetable concentrates Hold a Prominent Share
The diverse application of concentrates in the beverage, dairy, and confectionery industries due to their better functionality in terms of maintaining the quality of the product and providing prolonged shelf-life is promoting the market. The lower production costs of the concentrates derived from fruits and vegetables, supported by the possibility of large-scale production as well as medium-scale production favour the manufacturers. Nevertheless, reduced transportation and storage costs are further driving the demand for concentrates in the fruit & vegetable ingredients market of the North America region.
Mexico is the Fastest Growing Market for Fruit and Vegetable Ingredients in the Region
Mexico has a strongly emerging consumer base in the present time, owing to the massive influence of the United States. The increasing industrialization in the country provides an opportunity for the processors to expand their production units in terms of capacity to cater to the demands of the flourishing processed food and beverage industry. Also, Mexico is actively involved in the trading of its products which further increases the production demand for food ingredients in the country. The production has been upped to equalize the consumption of fruit in the industry.
The market is fragmented and competitive at the same time as various international and local companies operate in the region. Manufacturers are establishing multi-functional lines for fruits and vegetable ingredients' processing. Conversely, the demand for concentrated fruit-based juices and powder types is rising in the beverage industry, providing the processors with the opportunity for product innovation based on their utilization in the American and Canadian markets. Also, the Mexican market developing at a rapid pace is likely to pose great scope of application of the fruit and vegetable ingredient due to upgradation of the industries, supported by an agricultural background.
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