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Worldwide Vegetable Puree Market Expected to Grow at CAGR of 4.5% by Forecast to 2023

Mar 08, 2018 (AB Digital via COMTEX) --

Market Overview:

Vegetable puree is a liquid extract from the fresh vegetables. They are rich in vitamins and nutrients which delivers various health beneficial properties. In fact under certain nerve disorder or surgeries where human losses the ability to swallow food correctly, vegetable puree is the solution. Vegetable puree is applicable in various industries such as baby nutrition, beverages, dairy & frozen desserts, and others owing to its nutritional value. Different vegetable puree holds different nutritional content which drives the growth of the market with varied options.

Vegetable puree is a natural source of the high nutritional product, a convenient and economical substitute for fresh vegetables, which is driving the growth of the market. Moreover, being a natural source of adding flavor to food and beverages, the demand for vegetable puree has increased. Vegetable puree is majorly gaining acceptance in infant formulas which is propelling the growth of the market.

Growing awareness among the population for the health benefits associated with vegetable puree is boosting the growth of the market. High inclination towards organic foods among the health-conscious population is further boosting the growth of the market. However, non-palatability of the product hampers the growth of this market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 4.5% of vegetable puree market during the forecast period, 2017-2023. 

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Competitive Analysis:

The major players in the vegetable puree market

  • SVZ Industrial Fruit & Vegetable Ingredients (The Netherlands)
  •  Dohler GmbH (Germany)
  •  Baby Gourmet Foods Inc. (Canada)
  •  Tree top Inc. (U.S.)
  •  Kerr concentrates (U.S.)
  •  Kagome Co. Ltd (Japan)
  •  Encore Fruit Marketing, Inc. (U.S.) and
  •  ITC (India)

Downstream Analysis:

On the basis of type, vegetable puree is segmented into organic and conventional. The organic segment is gaining high acceptance among the population owing to increasing awareness regarding organic products and their associated health benefits. The organic segment is estimated to surge the growth of vegetable puree market over the forecast period.

Based on the vegetable, vegetable puree market is segmented into carrots, beets, pumpkins, peas, spinach, and others. Among them, the carrot is witnessed to be holding the major market share owing to its increasing application in baby food and healthy beverages. Moreover, pumpkins and spinach are anticipated to be growing at a substantial rate over the forecast period.

On the basis of application, vegetable puree market is segmented into baby nutrition, beverages, dairy & frozen desserts, and others. Among all, the baby nutrition segment is dominating the market followed by beverages. Growing application of vegetable puree in smoothies, soup, and other functional beverages is contributing to the growth of the beverage segment.

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Regional Analysis:

The global vegetable puree market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the market. India, China, and Australia are the major contributors to this region due to growing health awareness and increasing consumption of healthy foods. Europe is projected to be the second largest market for vegetable puree and is anticipated to have steady growth over the forecast period.

In North America, the U.S. is the major contributor to vegetable puree market. High inclination towards a healthy diet and increasing health-conscious population is driving the growth of vegetable puree market in this region. Brazil is anticipated to grow at a moderate rate in consumption of vegetable puree over the forecast period.

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