Processed Fruits and Vegetables Market Share

North American Market Forecast   

North America industry is set to hold largest revenue share by 2037, backed by growing import of processed fruits and vegetables, along with rising awareness regarding benefits associated with consuming fruits and vegetables. Additionally, the population in this region is also spending more on convenient food. Almost 35% of Americans bought ready-to-eat meals in 2020. This could be owing to the growing income of the people in this region. Moreover, large number of Gen-Z are estimated to live independently and hence the demand among them is estimated to increase further boosting the market growth. Furthermore, owing to their relative longer shelf lives than fresh products, customers choose canned and other processed fruits and vegetables. In the US, Canada, and other nations, a large number of businesses provide machines for processing fruits and vegetables. The majority of these manufacturers are small and medium-sized businesses (SMEs), and a number of big, publicly traded organizations and well-known US brands conduct international business. Hence, this factor is estimated to boost the market growth in this region.

APAC Market Statistics

The Asia Pacific processed fruits and vegetables market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market in this region can be attributed to growing wastage of fruits and vegetables in this region which is further leading release if excessive amount of greenhouse gases. Also, the most waste comes from urban area hence growing urbanization could be responsible for the wastage. However, growing urbanization is also responsible for boosting the market growth in this region owing to greater demand for processed fruits and vegetables. Moreover, large number of people situated in urban area belongs to working population and known for having a busy lifestyle. Hence, people living here are expected to prefer more preserved fruits and vegetables.

Europe Market Forecast

Further, the market in the Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of market in this region is estimated to be influenced by growing import of processed fruits and vegetables. Moreover, the demand for processed fruits and vegetables is also growing in this region. Additionally, growing government initiatives facilitating technology development is also estimated to influence the growth of the market in this region.