U.S. Fruit And Vegetable Market to Grow By USD 25.39 Billion From 2022 to 2027, Driven By the Rise in Veganism – Technavio

NEW YORK, March 13, 2023 /PRNewswire/ — The fruit and vegetable market in US size is estimated to grow by USD 25.39 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.62% during the forecast period. The rise in veganism is driving market growth significantly. With three-fold growth in terms of sales of fruits and vegetables in the most recent decade, the vegan population in the US has increased exponentially. More and more people in the US are willing to reduce animal-derived food product consumption. The increased prosperity, detoxification, compassion for all living things, and the health benefits of eating fruits and vegetables are some of the reasons for people turning vegan. Furthermore, various e-commerce stores are offering vegan products to customers online. Hence, vegan culture is expected to fuel the growth of the US fruit and vegetable market during the forecast period. For more insights on the historic market data (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

 

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Fruit And Vegetable Market in the US – Segmentation Assessment Segment Overview

Technavio has segmented the market based on distribution channel (offline and online) and product (non-organic fruits and vegetables and organic fruits and vegetables).

• The market share growth of the offline segment will be significant during the forecast period. Supermarkets, hypermarkets, convenience stores, discount stores, and cash and carries stores are among the popular options in the offline segment. Consumers prefer supermarkets and hypermarkets over small shops due to the availability of a wide range of products of different categories under a single roof. Moreover, when consumers purchase products worth a certain amount, hypermarkets and supermarkets offer discounts and give away free products. This leads to an increase in their sales through these channels. Hence, the increasing penetration of supermarkets and hypermarkets in the US is driving the growth of the segment.

Insights on the market contribution of various segments, historic market data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report

Fruit And Vegetable Market in US – Market Dynamics

Leading trends influencing the market 

• The rising demand for smart agricultural practices is a key trend in the market. Smart agriculture practices such as precision farming which are anticipated to provide a high return on agricultural products are experiencing a high demand. 
• The modern technologies used in agricultural products help improve land fertility and profitability, promote sustainable agriculture, maximize productivity, and reduce agricultural costs.
• One such example is precision agriculture technology, which provides the required amount of irrigation water, liquid fertilizer, nutrients, herbicides, and pesticides to reduce the waste of resources. This may result in agribusiness being more profitable than ever.
• The two crucial factors that promote the deployment of smart agricultural tools are improving business efficiency through process automation and increasing output through reduced agricultural costs.
• Hence, business-oriented agronomists have begun to adopt various precision agriculture/smart agriculture tools to increase crop yields and profit margins.

Major challenges hindering the market growth

• The growing chances of food contamination are a major challenge impeding market growth. Food poisoning or foodborne illness tends to happen when the food gets contaminated by bacteria, viruses, parasites, toxins, or other substances. 
• There are several ways for the contaminations to enter the supply chain and make food products unfit for consumption.
• One example is that staple foods like corn or grains may contain high levels of naturally occurring mycotoxins, such as aflatoxins and ochratoxins, produced by molds on grains.
• Furthermore, sudden climate change is also predicted to contaminate food. Such factors are expected to hamper the market growth.

Insights on market drivers, trends, & challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Fruit And Vegetable Market in US report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the fruit and vegetable market in US between 2023 and 2027
• Precise estimation of the size of the fruit and vegetable market in US and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the fruit and vegetable market across the US 
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vendors in the fruit and vegetable market in US

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The durian fruit market is estimated to grow at a CAGR of 8.12% between 2022 and 2027. The size of the market is forecast to increase by USD 9,891.81 million. The rise in veganism is notably driving market growth. 

The frozen vegetables market size is expected to increase by USD 11.38 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.68%. One of the key factors driving growth in the frozen vegetables market is the availability of frozen vegetables during the off-season. 

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Distribution Channel

7 Market Segmentation by Product

8 Customer Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

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SOURCE Technavio