Processed Vegetable Market to increase by USD 76.55 billion from 2022 to 2027 | APAC is estimated to account for 36% of the global market

NEW YORK, Oct. 17, 2023 /PRNewswire/ — The processed vegetable market size is expected to grow by USD 76.55 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 10.39% during the forecast period. Increasing demand for processed vegetables is notably driving the processed vegetable market. However, factors such as threats from unorganized players and intense competition among vendors may impede market growth. The market is segmented by product (Canned vegetables, Frozen vegetables, and Fresh-cut vegetables), distribution channel (Hypermarkets and supermarkets, Independent retailers and convenience store, Speciality food stores, and Online retailers), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The free sample report is available in PDF format

Key Segment Analysis

The market share growth by the canned vegetables segment will be significant during the forecast period. Vegetables that are processed and canned to increase shelf life are known as canned vegetables. Canned vegetables are classified under the moderately processed vegetable category. These vegetables offer similar health benefits as fresh vegetables. During the canning process, vegetables do not lose a large amount of nutritional value. Canning stops the decomposition of vegetables until the can is opened again. The number of nutrients lost depends largely on how quickly vegetables are canned after harvesting. The increasing demand for processed vegetables is one of the major reasons driving the growth of the segment. PROFEL, which represents more than 500 companies in 11 European Union companies, claims that PROFEL’s companies produce almost 2.1 million tonnes of canned vegetables each year. Therefore, the segment is expected to be driven by the increasing demand for canned vegetables from the EU.

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Geographical Market Analysis

APAC is estimated to account for 36% of the global market during the forecast period. China, Japan, and Australia are among the major markets for processed vegetables in APAC. Del Monte and Mitsubishi Corp. (Mitsubishi) are the major vendors operating in the regional processed vegetable market. The consumption of canned food is increasing, and China is emerging as one of the largest consumers of processed vegetables worldwide. China is expected to remain one of the top exporters and consumers of frozen vegetables during the forecast period.

Company Insights

The processed vegetable market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including including Inc., Archer Daniels Midland Co., Ardo Coordination Center NV, B and G Foods Inc., Charoen Pokphand Foods PCL, Conagra Brands Inc., Cooperatie Koninklijke Cosun UA, Dole plc, Farmers Market Foods Inc., J.D. Irving Ltd., Libbys Brand Holding, Mitsubishi Corp., Ninos Fresh Cut Fruit and Veg LLC, NutriAsia Inc., RFG Holdings Ltd., Seneca Foods Corp., Smith Frozen Foods Inc., Sprouts Farmers Market Inc., Sysco Corp., and The Fresh Gourmet Co.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Distribution Channel

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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