NEW YORK, Feb. 16, 2021 /PRNewswire/ -- The trend of healthier lifestyle and hunt for natural additives with multiple nutritive values are proving to be major drivers for the growth of the global fruit powder market. Fruit powder is used as a powerful ingredient to add natural value to different food products. Factors such as longer shelf life as well as convenience of storage and transport, along with several functional advantages, are having a positive impact on the demand for fruit powder across regions.
Consumer interest in clean label products is driven by rising health concerns, as these products are considered healthier. Companies are increasingly responding to consumer demand for products free from artificial and potentially unsafe ingredients, by offering clean label products. This increasing demand for clean label products is expected to drive demand for clean-labelled fruit powder. As such, the global fruit powder market is expected to witness a significant value CAGR of around 7%, with demand expected to surge the fastest from the cosmetics and nutraceutical industry.
Key Takeaways from Fruit powder Market Study
- The food industry holds the highest value share of over 30% in the global fruit powder market. The bakery and confectionery segment dominates the end use of fruit powder in the food industry, with approximately 50% value share.
- Berries & grapes fruit powder is expected to register growth at the highest CAGR, owing to rise of various berries as super-fruits providing various health benefits.
- The developed regions of North America and Europe, together account for around 47% of the value share in the global fruit powder market, attributable to consumers being more inclined toward buying value-added products incorporated with natural, plant-based, and organic ingredients such as fruit powder, as a part of healthy diet.
- Online retail sales of fruit powder are expected to exhibit a high value CAGR of around 8% over the forecast period, globally, attributable to growing Internet penetration and quick seek out deals for choosing price- and quality-specific fruit powder.
- Convention fruit powder still rules this space, accounting for more than 90% market share.
- The fruit powder market in the U.S. is projected to expand at a CAGR of close to 5% through 2030.
- The market in India and China is expected to surge at CAGRs of 9.8% and 8.9%, respectively, over the next ten years.
- The spread of COVID-19 has hampered production and disrupted the supply chain activities of the fruit powder market. However, with increasing demand for health-beneficial and nutrient products, losses are expected to be recovered in the near term.
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"Fruit powders have a wide application range in the food & beverage industry, as they are easy to store, have long shelf life, and impart taste and flavor to the end products. Manufacturers could gain increased profits by innovating segment-specific fruit powder for end use in this industry," says a Persistence Market Research analyst.
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Competitive Landscape
Manufacturers operating in the fruit powder market are focusing on research and technological developments in order to new develop products with lesser impact on raw material, as well as preserving the nutritive elements.
- Aarkay Food Products Ltd. has an extensive research & development department that is strategically segmented into an applications lab, research lab, quality control lab, and microbial testing lab. The facility helps continually enhance existing products and introduce new range of products for its customers.
Key players of fruit powder are also are investing to increase their production capacity to keep up with customer demand and increase their customer base.
- In 2020, European Freeze Dry Ltd. announced an investment of more than US$ 1.76 Mn in its manufacturing sites in the U.K. and Denmark following a growth in sales. At the Denmark facility, a new freeze dryer was added to help meet rising customer demand.
Explore More Valuable Insights on Global Fruit Powder Market
Persistence Market Research, in its new report, offers an impartial analysis of the global fruit powder market, presenting historical data (2015-2019) and estimation statistics for the forecast period of 2020-2030. The study offers compelling insights on the fruit powder market based on type (tropical fruits, berries & grapes, citrus fruits, stone fruits, and other fruits), nature (organic and conventional), end use (food industry, beverage industry, food service industry, nutraceuticals, retail/ household, cosmetics & personal care, others), and distribution channel (business to business and business to consumer), across seven major regions of the world.
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