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Freshen up: Increasingly health-conscious consumers with an emphasis on organic foods will drive revenue
Fruit & Vegetable Markets in the US
Over the five years to 2017, industry revenue has grown, driven by increases in fruit and vegetable prices along with higher demand for poultry and dairy products. In addition, the industry also experienced a significant jump in average profit margins due to decreasing wage costs along with a product shift toward premium-priced organic foods.
Over the five years to 2022, industry revenue is expected to continue to grow, albeit at a slower rate compared with the previous five-year period. Sharp increases in the price of fruits and vegetables are expected to continue, leading many operators to pass on cost increases to customers, underpinning revenue growth.
However, per capita consumption of fruits and vegetables is expected to decline marginally over the next five years.Fruit and vegetable vendors sell a variety of produce, meats and other items through stands, farmers’ markets and retail locations where products are sold directly to the public. The industry’s permanent stands and markets are small and individually owned. This unique industry generates revenue from the sale of fruits and vegetables and excludes sales of produce from supermarkets, grocery stores and mass merchandisers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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