The fruit powder market is poised to register a CAGR of 4.15% during the forecast period.
- A rising number of health-conscious consumers, who are inclined toward a healthier lifestyle, have been shifting preferences from artificial ingredients to completely natural products. This creates growth avenues for the market studied.
- The availability of customized fruit powders is a significant trend that is likely to gain traction in the market studied in the coming years. Increasing demand for super fruit powders is anticipated to be a vital factor driving the growth of the market studied, over the forecast period.
Key Market Trends
Improved Application in the Beverage Industry
The growing consumption of packaged food and beverages, along with rising health awareness, is anticipated to drive the market studied. Furthermore, increasing utilization of fruit powders for manufacturing flavored beverages may further drive the growth of the market studied. The functional beverage and ready-to-drink sectors are providing significant opportunities for the market’s growth. Fruit powders are being used in the beverage and tea industries for juices, fruit juice beverages, nectars, iced tea, and as additives in alcoholic drinks. The functional beverage is an important segment within the industry, and the developing markets have growth potential for these beverages. Within the functional beverage segment, enhanced water and ready-to-drink beverages are witnessing an increased consumer demand.
Europe Holds the Major Share in the Fruit Powder Market
Germany and France dominate the regional market. The food processing ingredients industry is highly focused on sustainability. This indicates that most companies have an in-built sustainability strategy that creates continuity in the entire flow, from cultivation to food processing. For instance, retail outlets are increasingly demanding a sustainability commitment or label from fruit ingredient manufacturers. Germany provides a favorable geographical location for fruit ingredient manufacturers, as it is centrally located in Europe with extremely well-developed transportation channels and well-situated food processors, to export fruit powders to other European countries. Symrise (Diana Group) and Naturex are some of the companies selling fruit powders in the region.
Competitive Landscape
The fruit powder market is highly fragmented with various small and medium local players holding significant shares in the market. Some of the best-performing companies in the marketplace are Kanegrade Ltd and Dohler Group. Other major players in the market include Paradiesfrucht GmbH and NutraDry?. Players are focusing on increasing their production capabilities by expanding to meet the domestic demand. Increased private label players, consolidation in distribution channels, and increased market penetration by wholesale and retail buyers have increased the market competition. Additionally, these companies are acquiring other small ingredient companies to improve their presence in the rest of the world.
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