Fruit Powders Market Overview
Exceptional nutritional and health benefits offered by fruit powders are the main attributes that are increasing the market’s development pace. Market reports linked to the food; beverages & nutrition sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this industry. The market is anticipated to develop with a CAGR of 7.2 percent approximately in the duration of the forecast period.
The high demand for convenient and economical substitutes in the food and beverage sector among others is a key actor fuelling the progress of the market. Moreover, the intensifying demand for super fruit powders due to rising need for trying new products and also consuming natural products is fuelling the expansion of the market. The declining preference for artificial ingredients from the consumer end is also growing the market’s share substantially. Functional foods are also observed as the key boosters for the demand being witnessed for fruit powders.
The Fruit Powder Market is anticipated to be segmented based on type and application. The type-based segmentation of the fruit powders market is segmented into blueberry, mango, apple, banana, grapes, strawberry, and others. In all the types present in the market, the grapes and banana type are anticipated to be the most rapidly developing segment in relation to food and beverages. On the other hand, the apple and strawberry segments are also gaining traction in the cosmetic industry. The application-based segmentation of the market comprises of dairy and frozen desserts, bakery and confectionery, food supplements, beverages, and others. The beverage segment is controlling the market due to elevated use of fruit powders in fruit drinks, smoothies, energy drinks and carbonated drinks. Though, the dairy and frozen dessert segment is anticipated to develop to a large extent in the duration of the forecasted period.
Detailed Regional Analysis
The fruit powders market industry globally is segmented into Europe, North America, Asia Pacific, and rest of the world (RoW). The European region is leading the market and is followed by the Asia Pacific region. The high level of inclination of consumers towards functional beverages in the European region is motivating the market for fruit powders in this region. The U.S. is among the chief contributors for fruit powders market in the North American due to escalation in the number of health-conscious population followed by a rise in consumption of fruits in this region. The Asia Pacific region is the next major market for fruit powders and is expected to be the most rapidly growing region in the duration of the forecast period. Countries such as India and China are the foremost contributors in this region due to mounting health awareness and boost in consumption of healthy beverages and food. The Latin American region is also projected to observe modest growth over the forecast period in which Brazil is the prime contributor.
Global Competitive Analysis
The market shows a great deal of potential for developing at an expedited pace. The market attractiveness and competitors’ dynamics are greatly enhanced by the strategies that are being employed by market players. The product offering of the market has diversified tremendously as compared to the past few years, thereby making the market more lucrative for current and new contenders. The enhanced financial liquidity of the competitors in the market has increased thereby proving new opportunities for growth of the market. The market is very well defined in terms of segments relating to the products as well as the end users that are a part of the market.
The long-term sustainability of the market is however greatly dependent on the tactics and the strategic roadmaps that are employed by market players.
The fruit powders market includes competitors such as DMH Ingredients (U.S.), Nutradry (Australia), NutriBotanica (Brazil) Kanegrade (U.K), Aarkay Food Products (India), Paradise Fruits (Germany) and FutureCeuticals (U.S.).
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