Business Khizar Nisar December 26, 2024 0 Comments

Fruit and Vegetable Powder Market Set to Reach $73.7 Billion by 2032 Driven by Rising Health Awareness and Sustainable Food Practices

The global fruit and vegetable powder market was valued at US$ 42.9 billion in 2022 and is projected to expand at a CAGR of 5.6% during the forecast period (2022–2032), reaching an estimated market valuation of US$ 73.7 billion by 2032. The sector accounted for 25% to 35% of the value share in the global fruit and vegetable extracts market in 2021.

Historical Performance and Growth Trends

Between 2017 and 2021, the market grew at a CAGR of 4.1%, driven by increasing applications of fruit and vegetable powders in food flavoring, dietary supplements, and other uses. This growth trajectory is anticipated to accelerate in the coming decade, spurred by evolving consumer preferences for vegan products, heightened health awareness, and the rising demand for convenient food products.

Favorable Factors Driving Market Expansion

1. Mitigating Seasonal Demand Challenges

Seasonal availability and associated supply chain uncertainties are major drivers for the adoption of powdered fruits and vegetables. These products enable food manufacturers to meet year-round demand for seasonal flavors and reduce raw material waste. Moreover, fruit and vegetable powders facilitate easier storage, transportation, and processing.

2. Rising Popularity of Convenient Food Products

The convenience factor associated with fruit and vegetable powders has made them a preferred choice for consumers and foodservice operators alike. Quick-service restaurants (QSRs), hotels, and cafeterias increasingly utilize these powders for soups, salads, and sauces due to their off-season availability and longer shelf life.

3. Food Waste Valorization

Reusing fruit and vegetable residues as functional powders is gaining traction as a sustainable practice. These residues are rich in bioactive components that can be reintegrated into the food chain, aligning with global efforts to combat food waste and environmental concerns.

Market Drivers

– Health Awareness and Veganism

The rising popularity of vegan diets and plant-based nutrition is propelling demand for fruit and vegetable powders. These products serve as essential ingredients in vegan snacks, smoothies, and dietary supplements.

– Increasing Urbanization and Disposable Income

Higher disposable incomes and urbanization trends are encouraging consumers to explore innovative food products, further bolstering market growth.

– Technological Advancements in Food Processing

Improved food processing techniques are enhancing the taste, texture, and nutritional value of fruit and vegetable powders, broadening their applications across various industries.

Market Restraints

– High Processing Costs

Advanced manufacturing processes for high-quality powders often involve significant investment, posing challenges for small and medium-sized enterprises.

– Flavor and Nutritional Compromises

Ensuring flavor retention and maintaining nutritional integrity during processing remains a challenge for manufacturers.

Opportunities

– Growth in Foodservice Sector

The increasing adoption of fruit and vegetable powders by foodservice operators, particularly in QSRs, presents a lucrative opportunity for market players.

– Expansion in Functional Food and Beverage Market

The demand for functional foods and beverages enriched with vitamins and minerals is creating additional avenues for the utilization of fruit and vegetable powders.

Future Outlook

The global fruit and vegetable powder market is poised for sustained growth, driven by consumer preferences for healthy, sustainable, and convenient food products. Innovations in food technology, coupled with the valorization of food waste, will further enhance the market’s appeal.

Manufacturers focusing on sustainability, quality assurance, and expanding product applications are likely to emerge as leaders in this dynamic market.