The Processed Vegetable Market is being driven by Increasing demand for processed vegetables
The Processed Vegetable Market is expected to grow at a CAGR of 11.04% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 89.9 billion. In the global retail market, private-label brands are experiencing notable expansion, driven by their competitive pricing and convenient accessibility. Major players, including Whole Foods Market Inc., a subsidiary of Amazon, and Sysco, are capitalizing on this trend by introducing private-label food and beverage lines. For instance, Sysco's FreshPoint brand offers a selection of processed vegetables in North America, while Whole Foods' 365 Everyday Value brand provides various processed vegetable options such as Organic Cut Green Beans, Sliced Beets, and Hearts of Palm (Salad Cut). These offerings contribute significantly to the companies' global product portfolios.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.04% |
Market growth 2024-2028 |
USD 89.9 billion |
Market structure |
market_structure.ucfirst |
YoY growth 2023-2024(%) |
9.65 |
Key countries |
US, China, UK, Germany, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The processed vegetable market is thriving due to the growing demand for convenience foods, driven by busy lifestyles and disposable incomes. Heat treatment is a common method used in processing these vegetables, preserving their natural freshness and nutrients. Online retailing has expanded the market, offering a wide range of canned and other processed vegetable products made with natural ingredients for consumers' convenience.
The processed vegetable market represents a significant segment within the global packaged foods and meats industry. Vendors in this sector focus on value-added production, such as juice preparation, to cater to consumers' convenience and demand for natural taste. Extending shelf life through processing is a key business strategy, ensuring product availability and reducing waste. The market's growth is driven by the health benefits associated with consuming minimally processed vegetables, including essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. These factors contribute to the market's continued expansion and increased demand for processed vegetable products.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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