Frozen fruits and vegetables industry to reach 22.6 million tons by 2015
Fruits and Vegetables are couple of commodities which cannot be restricted or ignored no matter how costly the economy turns. These are eatables required for livelihood and thus their market is absolutely volatile with proportion to the inflation levels. Global demands for fruits and vegetables have always been on the upper side, their forms such as frozen segment, juices and others have sprung to higher levels. In fact, in some countries there is a situation of scarcity for fruits and vegetables and thus the opportunity for exports increases. Top 50 companies of the globe involved in the industry command about 70% market revenue.
Exports regarding fruits and vegetables generate revenue of around $45 billion according to Food and Agriculture Organization (FAO) of the United Nations (UN). The world market for fruits and vegetables is estimated to go over $735 billion by the end of 2015. This according to a market research is a growth of 25% in just a span of 5 years. Going by the experts from the industry; this growth is a very normal one and it is expected to go even beyond as sector includes various products such as processed, concentrated, dehydrated, frozen and canned varieties. There are several forms of eatables which are available in the market, like juices, jams, pickles, jellies, chutneys. The market is projected to reach a whopping volume of 690 million tons which is an estimated growth of 5% for 2010-2015.
Vegetables cover most space in the overall industry as they represent 65% of the total combined market globally. On the other hand, fruit juices market is climbing up to reach the dominating area soon as it is forecasted to near the 65 billion litres mark by the close of 2015. Growing health awareness, increasing disposable incomes and growth of preference for these fruit juices compared to other artificial beverages are witnessed as the encouraging factors for the industry. Regions such as Asia Pacific, Latin America and other growing economies are big size markets emerging to be new business hubs for the fruits and vegetables juice segment. With growing numbers of diabetes cases; the demand for sugar free drinks is rising up.
Area wise, Europe is the single largest consumer of the processed Fruits and Vegetables Market whereas; the Asian region is estimated the highest growth rate of 4.5% per annum. The market along with the Pacific region rules the sector with a share of 45%. The counterpart US market for processed fruits and vegetables receives an annual proceeds of around $65 billion and caters to 1,300 firms regularly.
Brazil, China, Thailand, Mexico and Canada are among the top exporters and US, Europe and China are top importers of fruits and vegetables of all kinds, both seasonal and non-seasonal items.
Big companies in the sector purchase tons of fruits and vegetables for producing their products; Heinz, Del Monte and JR Divisions for food companies like ConAgra and General Mills are front runners providing several products worldwide. Orange juice is the most preferred juice in the overall fruit and vegetable industry.