The global vegetable concentrates market is expected to reach USD 5,223.92 billion in 2023, with demand accelerating at a CAGR of 4% over the 2023 to 2033 forecast period. By the end of the said period of assessment, the market is slated to reach USD 7,716.96 million.
Due to increased awareness of the ingredients in foods, consumers are becoming more cautious. The natural and clean-label qualities of vegetable concentrates are attractive to consumers searching for products that are free from artificial additives and preservatives.
The popularity of vegan and plant-based diets has increased the demand for products derived from plants. For food manufacturers to cater to the dietary preferences of their consumers, vegetable concentrates are an attractive solution. Besides using vegetable concentrates in the food industry, culinary professionals also use them to color and flavor dishes without requiring fresh vegetables.
Certain food items can be extended in shelf life by using vegetable concentrates while retaining their nutritive value and flavor. With more consumers seeking nutritious and natural food options, the trend for healthier eating habits is continuing to grow.
| Attributes | Key Statistics |
|---|---|
| Vegetable Concentrates Market Size (2022) | USD 5.023 million |
| Vegetable Concentrates Estimated Market Size (2023) | USD 5,223.92 million |
| Market Projected Size (2033) | USD 7,716.96 million |
| Value CAGR (2023 to 2033) | 4% |
Various food products may benefit from vegetable concentrates since they provide a convenient means of incorporating nutritional content from vegetables without compromising the quality or taste. Manufacturers targeting health-conscious consumers can use a marketing campaign that emphasizes the nutritional benefits of vegetable concentrates.
Growth in the vegetable concentrates market is attributed to a shifting preference towards packaged food products to cope with the hectic lifestyle in both developed and developing countries. Moreover, the rising application of vegetable concentrates over a range of food processing industries such as beverages and bakery products is anticipated to boost sales.
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Vegetable concentrate sales grew at a CAGR of 2.1% between 2018 and 2022 owing to fast growth in the packaged and processed food industry, as well as rising awareness of the importance of eating nutritious, fortified foods and beverages.
Low production costs, as well as the possibility of large-scale production, diverse application of vegetable concentrate in the dairy, beverage, baby food, and sauce and soup industries, better functionality in terms of maintaining product quality, providing extended shelf life, and lowering transportation and storage costs are all driving demand for vegetable concentrates.
In recent years, the use of vegetable ingredients such as concentrates as functional ingredients in the food and beverage sector has grown tremendously. Vegetables available in pieces and powders are increasingly being used in baking products and soups.
For example, in order to improve the flavor and nutritional value of the meal, zucchini, in the form of dried zucchini shreds, is used in stews to thicken soups. Zucchini powder can be used to make gluten-free meals and baked goods including muffins, bread, and pancakes.
Fruit juices have numerous health benefits, but they also contain a high level of fructose, which raises the quantity of natural sugar in juice concentrates. As a result, people with diabetes and those who carefully avoid sugar in their diet are more likely to use vegetable juices and smoothies.
In comparison to separate vegetable juice concentrates, blended vegetable juice concentrates are more popular. Moreover, they are high in minerals and vitamins, which aid in the treatment of ailments, the improvement of hair and skin textures, and other health issues.
Vegetable juice concentrates have a high antioxidant content and are widely available in the market. Due to these aforementioned reasons, the rising demand for vegetable juices is anticipated to propel the overall vegetable concentrate market over the forecast period.
Due to a growing number of busy lifestyles, people are seeking more convenient ways to incorporate vegetables into their diets. Soups, sauces, and ready-to-drink beverages can benefit from vegetable concentrates as convenient alternatives to fresh vegetables.
Increasing interest in health and wellness has prompted consumers to seek products that offer nutritional benefits. Many food and beverage products can be enhanced by using vegetable concentrates, which often retain vitamins and minerals that are present in the original vegetables.
High Demand for Vegetable Stock Concentrate to Fuel Growth
China is a significant consumer of vegetable concentrates owing to its well-established technology and processing capabilities that enable the production of a wide range of vegetarian food products with ease. Manufacturers of vegetable concentrates in China are focusing on maintaining low and convenient prices, as they try to keep up with the rising awareness among consumers related to health and wellness.
In China, ingredients such as carrot concentrate, tomato concentrate, and pumpkin concentrate are popular in soups and sauces. In recent years, the country has seen an increase in the vegan population, with customers showing high interest in plant-based meals, which will continue boosting sales in China. FMI expects the Chinese market to incline at a 3.8% CAGR from 2023 to 2033.
Consumers in the United States are Preferring Vegetable Broth Concentrate
A healthy diet, according to the United States Department of Agriculture (USDA), necessitates the intake of sufficient fruits and vegetables, as they aid in the prevention of ailments such as heart disease, diabetes, cancer, and obesity. The market is estimated to account for 23% of the total market share by 2022.
As a result, growing awareness of the daily nutritional requirements that can only be met by eating all-natural vegetables is expected to augment the growth in the market. Manufacturers to introduce new products are using vegetable concentrates in new and imaginative ways.
For instance, Conagra Brands' Hunt's launched a new tomato sauce with a thicker texture and richer flavor in May 2019. The product is made entirely of natural ingredients and does not contain high fructose corn syrup.
Rising Sales of Vegetable Liquid Stock Concentrate in India Will Boost Growth
Growing popularity of organic foods and beverages in India is likely to boost the market in the forthcoming years. This is due to a growing understanding of the negative effects of pesticides, chemicals, and additives on health. Furthermore, the organic vegetable concentrate market is expected to be driven by an increase in the number of health-conscious customers and rising awareness of the health benefits associated with organic vegetables and clean-label products in the country.
With a rise in sauce consumption and quick-service restaurants, vegetable concentrate demand is on the rise. According to the report, India is expected to increase at a CAGR of 4.8% from 2023 to 2033.
Sales of Tomato Concentrate Will Increase at a Considerable Pace
Population growth leads to more food consumption, which drives tomato puree demand. Food products, such as tomato puree, which can easily be incorporated into different recipes, are becoming more popular as more people move into urban areas.
Different regions have different demands for tomatoes, depending on the popularity of soups and sauces containing tomatoes. A growing industry of food processing, as well as the increasing adoption of ready-to-use ingredients in commercial kitchens, has contributed to the increasing demand for tomatoes in commercial kitchens. As of 2022, tomato concentrates represent a market share of 31.7%.
The perception that tomato puree is healthy compared to some other processed ingredients plays a significant role in influencing its demand among health-conscious consumers. Seasonal variations in tomato demand may be due to the availability of fresh tomatoes at different times. Depending on the production capacity and preferences of each nation, the demand for tomatoes can be impacted by international trade.
Demand for Vegetable Concentrates for Beverages Will Bolster
Owing to the increasing demand for healthy drinks among consumers, the application of vegetable concentrates in beverages is anticipated to account for a significant share of 32.6% in 2022.
In recent years, people have become more aware of the negative health consequences of drinking sugary and carbonated beverages. Furthermore, the growing emphasis on healthy lifestyles among today’s youth and working-class populations is broadening the appeal of vegetable concentrate-based beverages.
Vegetable concentrates in beverages offer consumers a convenient and enjoyable way to consume vegetables' nutritional benefits. Because of their consistent flavor profiles, better shelf life, and ease of handling and transportation, vegetable concentrates are often preferred in the beverage industry. The use of these ingredients also ensures a high level of quality for beverage manufacturers, particularly when fresh vegetables aren't available around the clock or a specific flavor profile needs to be consistently reproduced.
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Top vegetable concentrate manufacturers are focusing on expanding their footprint across promising regions by introducing new products to their portfolios. Moreover, they have incorporated in-organic strategies as well such as developing strategic partnerships with existing players. For instance:
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 5,223.92 million |
| Market Forecast Value in 2033 | USD 7,716.96 million |
| Global Growth Rate | 4% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia & Pacific; East Asia; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, China, Japan, South Korea, India, Bangladesh, Australia, New Zealand, GCC countries, South Africa, Israel |
| Kay Segments Covered | Product Form, Vegetable Type, Application, Sales Channel, Region |
| Key Companies Profiles | Kerr Concentrates; Lemon Concentrate; Encore Fruit; Greenwood; SVZ; Dohler Group; Kanegrade; YAAX; Rahal Fruits and Flavors; Food Ingredients United States |
| Customization & Pricing | Available upon Request |
In 2023, the market is expected to attain USD 5,223.92 billion.
The sales to spur to USD 7,716.96 million in 2033.
Through 2033, the market is set to evolve at a CAGR of 4%.
From 2018 to 2022, global sales increased at an HCAGR of 2.1%.
Tomato concentrates segment dominate with a 31.7% market share.
Beverages segment is expected to dominate the market, with a share of 32.6%.
| Market Size Value in 2023 | 1,675.6 million |
|---|---|
| Market Forecast Value in 2033 | 2,384.6 million |
| Growth Rate (2023 to 2033) | 3.6% CAGR |
| Expected Market Value (2023) | USD 75.6 billion |
|---|---|
| Projected Forecast Value (2033) | USD 159.6 billion |
| Anticipated Growth Rate (2023 to 2033) | 8% CAGR |
| Expected Market value in 2023 | USD 5.3 Billion |
|---|---|
| Projected Market Value in 2033 | USD 7.7 Billion |
| CAGR (2023 to 2033) | 3.8% |
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Vegetable Concentrates Market
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