Vegetable Concentrates Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.35 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vegetable Concentrates Market Analysis
The global vegetable concentrates market is expected to register a CAGR of 4.35% during the forecast period (2020 - 2025).
- The rapid expansion of the processed and packaged food industry, and increasing awareness regarding the consumption of healthy and fortified food and beverages, is expected to accelerate the demand for natural food additives, eventually driving the sales of vegetable concentrates.
- Also, the lower production costs along with the possibility of large-scale production; diverse application areas in the beverage, dairy, baby food and soups and sauces industries; better functionality in terms of maintaining the quality of the product; providing prolonged shelf life; and reducing transportation and storage costs are driving the demand of vegetables concentrates across the globe.
Vegetable Concentrates Market Trends
This section covers the major market trends shaping the Vegetable Concentrates Market according to our research experts:
Strong Growth in Plant Based Functional Food
In response, to the propelling demand for vegetable ingredient such as concentrates, purees and powders as a functional ingredient in the food and beverage industry has exponentially expanded its application. The utilization of vegetables pieces and powders in the production of soups and baking products that include vegetable on their ingredient lists is increasing worldwide.
For instance, Zucchini pieces, in the form of dried zucchini shreds, are increasingly being used to thicken soups and stews to enhance the flavor of the dishes and increase the nutritional value of the food prepared. Zucchini powder (flour) provides a base for gluten-free meals and baked goods, such as muffins, bread, or pancakes.
Increasing Prominence of Vegetable Concentrates in the Asia-Pacific Region
China is one of the major consumers for fruits and vegetables concentrates, as it has well-established technology and processing capacities, which enabled the country to produce a diverse set of products at ease. The Chinese manufacturers of such ingredients and concentrates are making their offerings reasonable and convenient, and they align with the growing health and wellness trend.
Ingredients usually derived from chillis, black beans, and plums are favored for soups and sauces in China. Over the past years, China witnessed a growth in the vegan populace, where consumers showed a growing interest in plant-based and mushroom-based 'counterfeit meats', which expanded the product penetration rate of vegetable-based ingredients to create a wholesome effect.
Vegetable Concentrates Industry Overview
The global vegetable concentrates market is highly fragmented, with numerous local and international players competing for major market share. Companies, like Olam International and SunOpta Inc., hold the dominant position in the market, closely followed by Ingredion Incorporated, Dohler Group, and Kanegrade, among others. Companies are actively involved in developing innovative products, which are encouraging food and beverage manufacturers to use vegetable concentrates to enhance their product quality and increasing health benefits to consumers.
Vegetable Concentrates Market Leaders
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Ingredion Incorporated
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Döhler
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SunOpta Inc.
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Symrise AG
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Kanegrade Ltd.
*Disclaimer: Major Players sorted in no particular order
Vegetable Concentrates Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Defination
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Category
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5.1.1 Paste and Purees
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5.1.2 Pieces and Powders
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5.2 By Vegetable Type
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5.2.1 Soy
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5.2.2 Carrot
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5.2.3 Tomato
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5.2.4 Peas
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5.2.5 Beetroot
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5.2.6 Pumpkin
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5.2.7 Other Vegetable Types
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5.3 By Application
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5.3.1 Beverages
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5.3.2 Confectionery Products
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5.3.3 Bakery Products
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5.3.4 Soups and Sauces
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5.3.5 Other Applications
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5.4 By Geography
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5.4.1 North America
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5.4.1.1 United States
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5.4.1.2 Canada
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5.4.1.3 Mexico
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5.4.1.4 Rest of North America
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5.4.2 Europe
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5.4.2.1 Spain
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5.4.2.2 United Kingdom
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5.4.2.3 France
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5.4.2.4 Germany
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5.4.2.5 Russia
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5.4.2.6 Italy
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5.4.2.7 Rest of Europe
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5.4.3 Asia-Pacific
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5.4.3.1 China
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5.4.3.2 Japan
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5.4.3.3 India
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5.4.3.4 Australia
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5.4.3.5 Rest of Asia-Pacific
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle East & Africa
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5.4.5.1 South Africa
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5.4.5.2 Saudi Arabia
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5.4.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 SunOpta Inc.
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6.4.2 Dohler Group
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6.4.3 Hans Zipperle SpA
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6.4.4 European Freeze Dry
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6.4.5 Van Drunen Farms
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6.4.6 Olam International Limited
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6.4.7 Symrise AG
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6.4.8 Kanegrade Ltd
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Vegetable Concentrates Industry Segmentation
The global vegetable concentrates market is segmented by category, vegetable type, application, and geography. By category, the market studied is segmented into paste and purees, and pieces and powders. By vegetable type the market studied is segmented into, carrots, tomato, peas, beetroot, pumpkin and others. By application, the market studied is segmented into, beverages, confectionery products, bakery products, soups and sauces and other applications. Also, the study provides an analysis of the vegetable concentrates market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, and Middle-East and Africa.
| By Category | |
| Paste and Purees | |
| Pieces and Powders |
| By Vegetable Type | |
| Soy | |
| Carrot | |
| Tomato | |
| Peas | |
| Beetroot | |
| Pumpkin | |
| Other Vegetable Types |
| By Application | |
| Beverages | |
| Confectionery Products | |
| Bakery Products | |
| Soups and Sauces | |
| Other Applications |
| By Geography | |||||||||
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Vegetable Concentrates Market Research FAQs
What is the current Vegetable Concentrates Market size?
The Vegetable Concentrates Market is projected to register a CAGR of 4.35% during the forecast period (2024-2029)
Who are the key players in Vegetable Concentrates Market?
Ingredion Incorporated, Döhler, SunOpta Inc. , Symrise AG and Kanegrade Ltd. are the major companies operating in the Vegetable Concentrates Market.
Which is the fastest growing region in Vegetable Concentrates Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Vegetable Concentrates Market?
In 2024, the Europe accounts for the largest market share in Vegetable Concentrates Market.
What years does this Vegetable Concentrates Market cover?
The report covers the Vegetable Concentrates Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vegetable Concentrates Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vegetable Concentrates Industry Report
Statistics for the 2024 Vegetable Concentrates market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vegetable Concentrates analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
