London, 31 December 2015: Technavio, the independent tech-focused global research firm, has published a report on the fresh food market in APAC 2015-2019, which is expected to grow at a CAGR of 2.24% during 2014-2019.
Fresh food market in APAC by product 2014
Source: Technavio, 2015
The fruits and vegetables segment lead the fresh food market in the APAC region, as they constitute an important part of the healthy diet. Several large fruit and vegetable retailers are collaborating with growers to provide fresh products. The increasing global trend toward vegetarianism is also a driving factor of the market for fresh fruits and vegetables.
A report published jointly by WHO/FAO recommends a minimum intake of 400gm of fruits and vegetables per day to prevent chronic diseases such as obesity and diabetes. Consumption of these products on daily basis helps prevent certain cancers and cardiovascular diseases. Thus, there is a huge demand for this segment, because of the many benefits of fresh fruits and vegetables, which will likely continue to grow throughout the forecast period.
“Fresh foods are not processed and contain naturally occurring vitamins and minerals that prevent or reduce the occurrence of health problems. Eating fresh produce also provides consumers with more energy, helps them maintain a healthy weight, and can reduce the effects of aging,” says Faisal Ghaus, Vice President of Technavio.
Key Market Drivers
- Growth in the aging population
- Increase in demand for organic food
- Growing health concerns
- Rapid economic growth in APAC
Key Market Trends
- Rise in online grocery shopping
- Increase in product shelf life
- Shift towards organic farming
Key Market Vendors
- Fresh Del Monte Produce
- Gujarat Cooperative Milk Marketing Federation
- Lion Pty
- Yamazaki Baking
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Fresh Food Market in APAC 2015-2019, please send an e-mail to media@TechNavio.com.
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