Global Processed Vegetables Market: Export Opportunity Analysis
The processed vegetables market includes canned, dried and frozen vegetable segments.
Statista predicts that revenue in the processed vegetables market will amount to US$238 billion in 2020, with a revenue growth of 7.6%. The market is expected to grow annually by 4.02% (CAGR 2020-2023).
The top 5 economies predicted to generate the most revenue in the processed vegetables market are India, China, the United States, Japan and the United Kingdom. China is expected to generate the most revenue with a market volume of US$69.7 billion in 2020.
Mordor Intelligence reports that North America dominated the processed fruit and vegetables market in 2015, with high consumption rates of frozen fruits and vegetables in the United States and Canada. Additionally, demand for processed fruits and vegetables has grown strongly in the developing countries of the Asia-Pacific over the past five years.
Major growth drivers for the industry include the convenience factor of processed canned fruit and vegetables in the frozen segment, which offer longer shelf-life than fresh produce. The influence of western culture has also seen changing dietary patterns for consumers, a trend which is fueling demand in the fruit and vegetables processing market. New product development, high investment in R&D and growing demand in the developing world are growth opportunities for the canned food industry in particular.
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