Part of the broader food sector, the world fruits and vegetable market is likely to exceed $735 billion by the year 2015, representing 25% growth over five years, reports Market Line. By the year 2015, the market is expected to reach over 690 million tons in volume, up 5% compared with 2010. Exports of fruits and veggies generate around $45 billion, reports the Food and Agriculture Organization of the UN. The global fruits and vegetable market is concentrated, with the 50 top companies accounting for 70% of revenue. The industry includes goods under various forms like canned, frozen, concentrated and dehydrated products.
Fruit and veggies are processed to make juices, jams, chutneys, pickles and jellies. Vegetables represent almost 65% of the overall market, in accordance with research from MarketLine. The world fruits and vegetable juice market is predicted to near 65 billion litre by the year 2015, according to Global Industry Analysts. The market is driven by increasing consciousness surrounding health and nutrition. Juices provide stiff competition in the face of Ready to drinks, bottled water and sports\/energy drinks. Following a lull due to the global financial crisis, the juice market is likely to rebound, led by natural juices and fortified juices.
Natural beverages are leaders of market, with growing demand for beverages made from organic ingredients. In more latest trends, juice manufacturers are using ingredients like fibers, probiotics and plant sterols in their drinks. Consumers are opting for drinks with these ingredients in an effort to boost healthful digestion and lower cholesterol. Drinks are also being fortified with extra minerals, vitamins and antioxidants. Juices has been receiving bad press because of their high fructose corn syrup content, and consequently juice manufacturers are offering juices without high fructose corn syrup. Another promising category is that of diet drinks, as increasing cases of obesity and diabetes mellitus see a general trend toward diet products.
Sugar free fruits flavored drinks are enjoying rising demand. Demand for fruits flavored juices is proving a preference over fruits juices in regions like Latin America and Asia. Drinks manufacturers are targeting developing countries like India and China through aggressive marketing campaigns and by localizing products to appeal to regional consumer bases. The US, the EU and China are leading exporters and importers of processed fruits and vegetable. A large amount of imports come from Brazil, Thailand, China, Canada and Mexico.