Fruits & Vegetables Market Research Reports, Analysis & Trends
Fruits & vegetables industry comprises companies and venders that sell a variety of fruits and vegetables through stands, farmers' markets, and retail locations where products are sold directly to the consumers. Usually the stands and markets are small in size and they are owned individually and the industry’s revenue is generated through the sales of fruits and vegetables as a whole. However, the complete industry’s revenue excludes the sales and revenue from supermarkets, grocery stores and mass merchandisers. The wholesalers in the fruits & vegetables industry wholesale a range of fresh fruit and vegetables to supermarkets, delis, restaurants, cafes, and institutions like hospitals and retirement homes.
Fruits and vegetables are staple food across the world and there will always be demand and the demand is always expected to grow with time. But, disposable incomes increase and wholesalers offer more value added options such as pre-cut produce, demand is expected to grow rapidly. Amidst all the economical issues, the wholesalers will continue to face challenges from wholesale bypass and the consolidation at the food retailing level and external competition from processed fruits and vegetables is expected to grow.
The global fruit and vegetables market was badly hit during the global great recession as the consumers spent less money on food products in general but proceeded towards cheaper produce or packaged food solutions. But it soon recovered the situation and the demand is picking up its pace and the growth is happening at a much faster rate than anticipated, especially in developing countries such as China and India as the income is on a rise with the urban population and economy is stable. Technological advances and superior ingredients have allowed manufacturers to boost the quality of processed fruit and vegetable products. Health-conscious consumers have started to opt for sugar-free products, especially in Europe, Australia and North American demographics.
Current Market Trends in Fruits & Vegetables Industry
The global fruit and vegetable juice market is expected to near 65 billion liters by the end of 2015, according to Global Industry Analysts (GIA). The world fruit and vegetable market is expected to reach over the value of $735 billion by the end of 2015, in which it represents 25% growth over five years, according to MarketLine. And by 2015, the market is predicted to reach over 690 million tons in volume, up by 5% compared to 2010's data. Exports of fruit and vegetables have generated approximately $45 billion, according to Food and Agriculture Organization of the United Nations (FAO).The major factors and drivers are the consumers' increasing awareness surrounding health and nutrition, as juices provide stiff competition in the face of Ready to Drink beverages, bottled water and sports/energy drinks, the fruits and vegetables market is expected to bring in more revenue in near future.
The global fruit and vegetable market is mildly concentrated as the 50 top companies account for approximately 70% of total revenue generated. In the recent times, the demand for fruit-flavored juices is proving to be a bigger and better preference over fruit juices in regions such as Latin America and Asia and the drinks manufacturers are targeting developing economies like India and China through aggressive and strategic marketing campaigns and by localizing products to appeal to regional consumer demographics.
Major Players In Fruits & Vegetables Sector
The major players in the fruits and vegetables industry include Ocean Spray, Del Monte, Heinz & JR, McCain Foods, AGRANA, La Doria and Bonduelle.