LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global fresh food market size is projected to grow to USD 2.3928 billion tons by 2021, at a CAGR of more than 3% over the forecast period.
“Fruits and vegetables are by far the largest product segment in the fresh foods market, generating close to 60% of the overall revenue. The increasing trend towards vegetarianism is an important driver for the fresh fruits and vegetable market”
This research report titled ‘Global Fresh Food Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Fresh foods are raw products that haven’t undergone any thermal processing or freezing. They are free of preservatives and provide a number of health benefits, which is attractive to a lot of consumers. The promotion of healthy eating habits is driving the increased adoption of fresh foods into consumer’s daily lifestyles.
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Based on product type, the report categorizes the global fresh food market into the following segments:
- Fruits and vegetables
- Meat and poultry
- Other fresh food
The top three revenue-generating product segments in the global fresh food market are discussed below:
Fruits and vegetables
“Fruits and vegetables are by far the largest product segment in the fresh foods market, generating close to 60% of the overall revenue. The increasing trend towards vegetarianism is an important driver for the fresh fruits and vegetable market,” says Manjunath Reddy, a lead analyst at Technavio for food research.
The increasing demand for fresh fruits and vegetables have drawn the attention of global retailers to enter the market to cater to this demand. Also, consumers are realizing the benefits such as cancer prevention and control of cardiovascular diseases obtained by consuming fresh fruits and vegetables, which will boost market revenue.
Meat and poultry
Fresh meat and poultry are most widely sold in open and wet markets in APAC. However, a change in consumer lifestyles has led to an increasing availability of these products in supermarket and hypermarkets, owing to hygiene concerns, labeling of products, and convenience of shopping. Consumers in the developed nations of Europe and North America either connect with butchers and retailers or go through the grocery channel owing to the convenience, high availability, and more assortment it offers. Rising per capita income, growing population, and increasing demand for exotic and rare meats will boost the demand for meat, thereby driving market growth.
“Consumers are increasing the consumption of fish and other seafood as they are a rich source of protein. Aquaculture is gaining prominence in developing economies to meet the growing food demands, which will boost market growth,” says Manjunath.
Also, seafood provides health benefits such as easing of depression, enhancing brain development, improving hair and skin health, and prevention of heart diseases. Certain types of seafood are also said to reduce the risk of Alzheimer's disease, which is beneficial for the aging population. Such benefits will result in an increased demand for seafood.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Danish Crown
- Fresh Del Monte Produce
- Greenyard Foods
- Tyson Foods
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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