DUBLIN--(BUSINESS WIRE)--The "The Global Processed Vegetables Market and the Impact of COVID-19 in the Medium Term" report has been added to ResearchAndMarkets.com's offering.
This report presents a strategic analysis of the global processed vegetables market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it. It provides a comprehensive overview of the market volume and value, dynamics, segmentation, characteristics, main players, prices, international trade, trends and insights, growth and demand drivers, challenges, etc.
This is the most detailed (COVID-19 updated) and comprehensive report about the global processed vegetables market, covering all global regions and 151 single countries. The report presents information on each indicator for each of the 151 countries covered, offering unmatched value, accuracy and expert insights.
Global Processed Vegetables Market Insights and Outlook
The global processed vegetables market was equal to 151.24 billion USD (calculated in retail prices) in 2014. Until 2024, the processed vegetables market in the world is forecast to reach 296.85 billion USD (in retail prices), thus increasing at a CAGR of 6.01% per annum for the period 2019-2024. This is a decrease, compared to the growth of about 7.80% per year, registered in 2014-2018.
The average consumption per capita in value terms reached 23.66 USD per capita (in retail prices) in 2014. In the next five years, it grew at a CAGR of 2.99% per annum. In the medium term (by 2024), the indicator is forecast to speed up its growth and increase at a CAGR of 3.68% per annum.
The processed fruits and vegetables industry is going through a period of major shifts in consumer preferences. In fact, consumers' evolving choice has influenced processed fruits and vegetables production and consumption at all stages of the value chain. Now, people are increasingly health-conscious and trying to provide the body with the necessary vitamins, antioxidants, dietary fiber and phenolic compounds. As a main source of such nutrients, processed fruits and vegetables make a valuable contribution to a healthy diet. In addition, people are also interested in lower sugar/salt foods and fermented foods with additional health benefits. So, demand for healthy and clean label products is increasingly growing and is one of the leading trends in the global industry.
Aspects such as price and taste are no longer the main drivers of choice for consumers. Instead, consumers' behavior has been significantly influenced by the growing importance of health and wellness, sustainability and social responsibility, as well as by the desire for new experiences. Although the global economy is expanding and consumer confidence is strong, selective spending remains. People are more price sensitive and less brand-loyal. At the same time, they are looking for unified experience and more customized product offerings. Therefore, aspects such as store merchandising and the offered discounts are increasingly important.
One of the factors, driving the stable consumption of processed fruit and vegetable products in the last few years has been their availability regardless of season or geography. For this reason, consumption of processed vegetables can be viewed complementary to the consumption of fresh products, which also supports the fulfillment of nutritional needs of the global population. According to industry experts, initial micronutrient levels in fruits and vegetables harvested for processing are high, as the crops are usually harvested at a more mature stage. Furthermore, the processes of canning and freezing shortly after harvest ensure that fruits and vegetables preserve quite effectively their best nutritional value.
The report on the global processed vegetables market covers:
- Market volume, value and dynamics for the last five years;
- Market segmentation (by region and each covered country; by product groups, etc.) for the last five years;
- Analysis of the factors, influencing the market development (market trends and insights, drivers and challenges) and the impact COVID-19 has and will have on the market in both the short and the medium term;
- Value chain analysis and structure of price formation;
- Analysis of retail price levels and their dynamics for the last five years (broken down by region and each covered country);
- Analysis of the major international trade flows;
- Volume, value, dynamics, segmentation (by region and each covered country) and analysis of imports for the last five years;
- Volume, value, dynamics, segmentation (by region and each covered country) and analysis of exports for the last five years;
- Volume and dynamics of the average import and export prices for the last five years (broken down by region and each covered country);
- Volume, value, dynamics, segmentation and analysis of per capita consumption for the last five years (broken down by region and each covered country);
- Forecast for market development in the medium term (volume, value and segmentation by region and each covered country);
- Characteristics of the main players on the market;
- Analysis of the competitive landscape;
- Five Forces analysis;
Analysis and forecast for the global economy and demographics.
For more information about this report visit https://www.researchandmarkets.com/r/py379g.