Market Size of Vegetable Concentrates Industry
| 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 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 Size Summary
The vegetable concentrates market is experiencing significant growth, driven by the expanding processed and packaged food industry and a rising consumer awareness of healthy and fortified food options. This trend is boosting the demand for natural food additives, including vegetable concentrates, which are favored for their cost-effectiveness and versatility across various sectors such as beverages, dairy, baby food, and soups and sauces. The ability of vegetable concentrates to maintain product quality, extend shelf life, and reduce transportation and storage costs further enhances their appeal. The market is witnessing an increased application of vegetable-based ingredients, such as purees and powders, in food and beverage production, with examples like dried zucchini shreds and zucchini powder being used to enhance the nutritional value and flavor of dishes.
China stands out as a major consumer of vegetable concentrates, benefiting from advanced technology and processing capabilities that support a diverse product range. The country's focus on health and wellness trends has led to a growing interest in plant-based ingredients, particularly in vegan and mushroom-based products, which has expanded the use of vegetable concentrates. The global market is highly competitive, with numerous local and international players like Olam International and SunOpta Inc. leading the charge. These companies are innovating to meet the demand for enhanced product quality and health benefits, encouraging broader adoption of vegetable concentrates in the food and beverage industry.
Vegetable Concentrates Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Category
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2.1.1 Paste and Purees
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2.1.2 Pieces and Powders
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2.2 By Vegetable Type
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2.2.1 Soy
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2.2.2 Carrot
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2.2.3 Tomato
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2.2.4 Peas
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2.2.5 Beetroot
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2.2.6 Pumpkin
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2.2.7 Other Vegetable Types
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2.3 By Application
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2.3.1 Beverages
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2.3.2 Confectionery Products
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2.3.3 Bakery Products
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2.3.4 Soups and Sauces
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2.3.5 Other Applications
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 Spain
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Germany
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2.4.2.5 Russia
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2.4.2.6 Italy
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2.4.2.7 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East & Africa
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2.4.5.1 South Africa
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle East & Africa
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Vegetable Concentrates Market Size 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.
