Global Vegetable Concentrates Market Outlook
According to a new report by Expert Market Research titled “Global Vegetable Concentrates Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the global vegetable concentrates market is projected to grow at a CAGR of 3.40% between 2024 and 2032. Aided by the expanding end use sectors and antioxidant-rich profile of these concentrates, the market is expected to grow significantly by 2032.
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Vegetable concentrates, derived from the reduction of vegetables to a concentrated form, are increasingly being recognised for their versatility and nutritional benefits. These concentrates are integral in various culinary applications, ranging from soups and sauces to beverages and health supplements. The burgeoning demand can be primarily attributed to the escalating global emphasis on health-conscious diets and the convenience these concentrates offer in culinary preparations.
The vegetable concentrates market growth is propelled by several pivotal factors. Firstly, the escalating consumer inclination towards plant-based diets has significantly boosted the demand for vegetable concentrates. These products offer a convenient, nutrient-rich option for individuals seeking to increase their vegetable intake without the hassle of preparation and storage associated with fresh produce.
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Additionally, the rising popularity of clean-label products, which emphasise natural and minimally processed ingredients, has steered both food manufacturers and consumers towards vegetable concentrates. This vegetable concentrates market trend is further bolstered by the growing awareness of the health benefits associated with a diet rich in vegetables, such as reduced risk of chronic diseases and improved overall well-being.
Beyond the realm of culinary uses, vegetable concentrates have found a niche in several industrial applications. Their natural colouring properties are increasingly favoured in the food and beverage industry, aligning with the global shift towards the elimination of artificial colorants. In the health and wellness sector, these concentrates are incorporated into supplements and nutraceuticals, esteemed for their high concentration of vitamins, minerals, and antioxidants.
The cosmetic and personal care industry has also begun to leverage the antioxidant-rich profile of vegetable concentrates. These natural extracts are being integrated into skincare products for their purported benefits in enhancing skin health and combating signs of aging.
Geographically, the market is experiencing robust growth across various regions. North America and Europe currently hold significant portions of the vegetable concentrates market share, primarily due to the heightened awareness of health and wellness and the presence of key players in these regions. However, the Asia-Pacific region is anticipated to exhibit the fastest growth rate over the forecast period, driven by the increasing disposable incomes, urbanisation, and the growing adoption of Western dietary patterns.
Global Vegetable Concentrates Market Segmentation
The market can be divided based on category, vegetable types, application, and region.
Market Breakup by Category
- Paste and Purees
- Pieces and Powders
Market Breakup by Vegetable Types
- Soy
- Carrot
- Tomato
- Peas
- Beetroot
- Pumpkin
- Others
Market Breakup by Application
- Beverages
- Confectionery Products
- Bakery Products
- Soups and Sauces
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global vegetable concentrates market. Some of the major players explored in the report by Expert Market Research are as follows:
- SunOpta, Inc.
- Döhler Group
- Olam International
- Symrise AG
- Kerr Concentrates
- Others
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