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Fruit Concentrate Puree Market is estimated to record over 6% CAGR during 2023 and 2032. The growth is attribute to the rising demand for natural and healthy food products. According to an article from the World Economic Forum, almost two-thirds (65%) of consumers prioritize ethical spending choices as a way to foster a healthy and sustainable lifestyle. Fruit concentrate puree, being a minimally processed form of fruit, appeals to consumers seeking nutritious and wholesome choices. The market benefits from the growing trend of clean-label products, where consumers prioritize food and beverages with minimal additives.
The food & beverage sector’s increasing utilization of fruit concentrate puree in various applications fuels market expansion. The product’s versatility makes it a sought-after ingredient in the production of juices, smoothies, baby food, and dairy products. Moreover, the convenience and extended shelf life of fruit concentrate purees contribute to their widespread adoption by food manufacturers.
Report Attribute | Details |
---|---|
Base Year: | 2022 |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 6% |
Historical Data for: | 2017-2022 |
No. of Pages: | 500 |
Tables, Charts & Figures: | 852 |
Segments covered: | Product, Concentration, Fruit Family, Application Food and Region |
Price fluctuations in raw materials, influenced by climate conditions and geopolitical factors, pose a challenge to market stability. The perishable nature of fresh fruits and the need for specialized processing equipment add to production costs. Stringent regulations on food safety and quality standards necessitate strategic planning by industry participants to mitigate risks and ensure the efficient product usage. Moreover, as consumer awareness regarding sustainability grows, there is an increasing demand for eco-friendly packaging solutions. The use of conventional packaging materials, such as single-use plastics, will act as a bottleneck for market players.
The fruit concentrate puree market experienced disruptions due to the COVID-19 pandemic. Supply chain challenges, including transportation restrictions and labor shortages, led to temporary setbacks in production and distribution. Fluctuating consumer purchasing patterns, influenced by lockdowns and economic uncertainties, affected demand. However, as consumers sought immune-boosting and convenience-oriented products, there was shift in preferences towards fruit concentrate purees. Adaptability and innovation in packaging and marketing strategies became crucial for industry players to navigate the evolving landscape and maintain stability.
There is a growing inclination towards exotic and tropical fruit flavors, reflecting consumers' adventurous palates and the desire for unique taste experiences. For instance, as per an article by Krishi Jagran, the popularity of exotic fruits is rapidly surging among Indians, with a remarkable 96% rise. While traditional favorites like bananas and apples maintain the stronghold, there is a notable shift toward the consumption of exotic and rare fruits such as kiwi, dragon, passion, and durian. Mango, passion fruit, and guava concentrates, among others, are gaining traction. This aligns with the broader trend of global flavor exploration in the food & beverage industry.
Furthermore, health and wellness considerations are driving a surge in demand for natural and organic fruit concentrate purees. ADM's report emphasizes that 55% of consumers worldwide actively search for product health claims tailored to their individual requirements. With consumers increasingly prioritizing clean-label products, there is a notable shift away from artificial additives and preservatives. Manufacturers are responding by offering organic and non-GMO options, tapping into the trend of conscious & nutritious consumption. A more health-centric and transparent approach in product offerings will stimulate the market growth pace.
The fruit concentrate puree with sugar segment is anticipated to experience 5.5% growth rate from 2023 to 2032, as sugar leads to flavor enhancement, and can be used in diverse applications.
The liquid segment is expected to witness a robust growth rate, owing to a better preservation of natural flavors & ease of incorporation.
The exotic fruit segment will gain significant traction through 2025, attributed to the health & nutritional benefits and consumer appeal.
The baby food application of fruit concentrate puree will generate notable revenues and grow at 5.5% over 2023-2032, owing to the clean label trends, and the nutritious quality of product.
Asia-Pacific fruit concentrate puree market share will grow substantially till 2032, driven by factors such as a growing population, rising disposable incomes, and increasing consumer awareness of healthy dietary choices. The region's diverse culinary preferences contribute to a demand for a wide range of fruit concentrate puree flavors. Additionally, the food & beverage industry is expanding, coupled with the popularity of natural and minimally processed products. These factors, along with the strict regulatory framework for food safety & quality will positively sway the industry dynamics in the APAC region.
Archer Daniels Midland Company (ADM) employs strategic initiatives to strengthen its position in the fruit concentrate puree industry. The company focuses on product innovation, consistently introducing a diverse range of high-quality fruit concentrate purees to meet evolving consumer preferences. Strategic collaborations and partnerships, constant R&D efforts, along with focus on sustainability & eco-friendly practices make the company a popular name in the industry. Other such leaders include:
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