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Fruit & Vegetable Markets in the US - Industry Market Research Report

Fruit & Vegetable Markets in the US - Industry Market Research Report

  • April 2018
  • 33 pages
  • ID: 171027

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Freshen up: Increasingly health-conscious consumers with an emphasis on organic foods will drive revenue

Abstract

Fruit & Vegetable Markets in the US
Revenue growth for the Fruit and Vegetable Markets industry during the period was driven by increases in fruit and vegetable prices along with higher demand for poultry and dairy products. In addition to strong revenue growth, the industry also experienced a significant jump in average profit margins due to a product shift toward premium-priced organic foods. The implementation of new technology, such as credit card readers and point-of-sale systems, has also increased operator efficiency, improving margins. Over the five years to 2023, industry revenue is expected to continue to grow, albeit at a slower rate compared with the previous five-year period. Sharp increases in the prices of fruits and vegetables, the industry’s top-selling product segments by revenue, 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, indicating that other factors besides price will prop up demand, such as consumers’ health-consciousness.

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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