Global Fruit Concentrate Puree Market is set to exceed USD 650 million by 2025; according to a new research report by Global Market Insights, Inc. Increased consumer spending for packaged and convenience foods along with rising numbers of consumers eating out will drive the demand for the fruit concentrate puree market. Potential outlook in variety of applications including baby foods, dairy, frozen products, bakery, smoothies, beverages and confectionary will propel product adoption rate. Rapid expansion of food & beverage industry with growing population and favorable trade policies will create new avenues for manufacturers.
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Rising disposable income of the consumers has expanded the eating out trend which accounts for the largest share in terms of consumption pattern in food and beverage industry. Growth in urban population and increasing number of working-class individuals, parents find less time to prepare baby food at home, thus resulting in robust growth in demand for ready-made baby foods. Increasing demand for high nutritional content to feed infants will support product applications scope.
Increasing technological advancements in food processing industry will boost the production rates. Manufacturers are expected to implement advanced processing technologies to meet increasing product demand from industrial sector. Cold chain is important to ensure the integrity of the food as fruit concentrate purees are processed and supplied to food manufacturers those catering to end customers. Industry stakeholders need to adhere to HACCP, food safety managements systems and ISO 22000 to achieve food safety and enhance trade opportunities in international markets.
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Exotic fruits accounted for dominating share of 35% in global fruit puree concentrate market in 2018. Easy availability and high production rates of berries in U.S. will provide positive business outlook for processing companies. Rising trade across borders supported by favorable government policies will further support the segment growth. Asia Pacific accounts to over 85% of exotic fruit production by volume and variety where India accounts for over 24% of the global production followed by China. Thus, providing lucrative opportunities for domestic players in the market.
Food applications is projected to witness CAGR 5% by 2025 in overall fruit concentrate puree market. Shifting consumer preferences towards more healthy options will surge the demand for fruit concentrate puree in the market. These are healthy option over juice concentrate as it consists of pulp which contains fiber along with the sugars and other nutrients. Increasing health issues including obesity, metabolic syndrome, diabetes and heart diseases will fuel the demand for fruit puree concentrates with no added sugars over the projected timeframe.
Asia Pacific is expected to register high growth in fruit concentrate puree market owing to the increasing population and rising disposable income of the demographic. India accounts for the largest share in food and beverage sector by sales followed by China and Indonesia. Rapid expansion in tourism industry will propel construction of new hotels and restaurants, thus driving overall fruit concentrate puree demand from food service sector in the region.
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Key business competitors operational in global fruit concentrate puree market include Fénix S.A, AGRANA Beteiligungs AG, Dohler North America Inc, Dennick Fruitsource, LLC, Kerr Concentrates, Grünewald Fruchtsaft GmbH, Tree Top, Tianjin Kunyu International Co. Ltd., Uren Food Group. Notable Industry players are adopting strategies like new product launch, vertical integration, merger & acquisition to expand and strengthen their industry share. For instance, in July 2018, AGRANA Beteiligungs AG acquired 49% stake in Elafruits SPA allowing the company to expand its presence in Africa and strengthen its global market leadership.