Fruit Processing Market Overview:
The Fruit Processing Market Size will attain a CAGR of 16.26% and reach a valuation of USD 14.14 billion by 2023-2032.
The lifestyle changes in consumers with alterations in their eating habits are driving the market’s growth. The research and development initiatives in the food & beverage industry are promoting the market globally.
The advanced techniques for fruit processing include supercritical fluid technology, membrane technology, and molecular techniques like High-Pressure Processing (HPP) technology and Polymerase Chain Reaction (PCR). The fruit processing industry is also using non-thermal preservation techniques to maintain the texture of the fruit. Moreover, the new machinery invention and upgradation of existing ones bring up robust growth opportunities for the Fruit Processing Market. The growing focus on advanced facilities, and marketing schemes, to create awareness to contribute to promoting the market’s growth rate.
During the COVID-19 pandemic, the market was positively impacted because of its significant factors, such as healthy, safe, and nutritive eating. Also, the industrial players’ development meets the convenience demand of busy customers. The increased per-capita income is driving the demand for ready-to-eat food items. All these growth and opportunistic factors will promote the market’s growth in the forecast period.
Key Players:
Major players in the Fruit Processing market, including Safeway Inc. (US), Gourmet Foods International (US), The Kroger Company (US), Dole Food Company Inc. (US), Nestle S.A. (Switzerland), Del Monte Foods Inc. (Singapore), ConAgra Foods Inc. (US), and others, are attempting to increase market demand by investing in research and development operations.
Market Segmentations:
The Fruit Processing Market Overview is categorized into segments such as type, operation type, and equipment type.
The type segment of the market is classified into dried type, canned type, frozen type, fresh type, fresh-cut type, and many others. With the rise in demand for convenient food items, fresh processed fruits are the leading largest market share.
The equipment type segment is categorized into packaging equipment type, filling equipment type, seasoning equipment type, processing equipment type, washing & dewatering equipment type, and pre-processing equipment type. Among these, the packaging equipment type is leading the market.
The operation type segment is subdivided into semi-automatic operation type and automatic operation type. The automatic operation type is leading the market due to the rising technological innovation.
Regional Analysis:
The Fruit Processing Market covers the major regions such as the North American region, European region, Asia-Pacific region, Latin American region, and the Middle East and Africa.
The North American region is capturing the largest share due to the presence of top industrial players. The Asia-Pacific is the next leading region with the fastest growth rate. The regional market is accelerating due to the rapid urbanization rate, and lifestyle changes are driving the market demand.
The European region is the third leading region due to the presence of advanced infrastructure, which is driving the regional market. Other regions, such as Latin America, the Middle East, and Africa, capture the least market share because of underdeveloped infrastructure. Moreover, low per capita income restricts regional market growth in these regions.
Industry News:
In September 2022, the Spanish Government approved 12 million euros to support the fruit processing plants. This initiative was taken to overcome the effect of the April frost. On September 13, the Council of Ministers adopted a royal decree to lay down the regulatory basis to grant minimum State aid to fruit processing plants. The legislative text includes grants of subsidies to process pome fruit, stone fruit, and/or nuts.
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