ALBANY, New York, November 10, 2017 /PRNewswire/ --
Transparency Market Research states that the global tropical fruit puree market is likely to see a significant expansion in the range of products in the near future. Leading players such as ITC Limited, AGRANA Beteiligungs-AG, KUO Group, Kagome Co., Ltd., Dohler GmbH, and Tree Top Inc. are expected to focus on product innovation in the coming years. Furthermore, the growing investment in research and development of flavors, better preservation methods, and reaching out to newer economies are expected to define the success for the global market.
According to the research report, the global tropical fruit puree market is expected to be worth US$5,749.2 mn by the end of 2025 from US$3,519.9 mn in 2017. During the forecast period of 2017 and 2025, the global market is poised to exhibit a CAGR of 5.6%. Among the end users, the infant food segment is anticipated to surpass all others segments as the number newborns across the globe are on the rise. In terms of regions, Asia Pacific is likely to show remarkable growth rate. The increasing consumption of juices and improving disposable income are anticipated to work in favor of this regional market.
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Rising Demand for Infant Formula Ups Consumption of Tropical Fruit Puree
The research analysts have identified several market drivers for the global tropical fruit puree market. The growing demand for baby food is the primary growth driver for the overall market. Urban living, awareness about benefits of infant formula, and lack of time to prepare elaborate meals are expected to be the key factors ensuring sustained growth of the global market. Majority of the infant formula uses fruit purees of tropical fruits such as apple, banana, mango, and melons. Thus, their demand is projected to continue to rise during the forecast period. Simple breakfast options such as cornflakes and flavored cereals also use various types of fruit purees to enhance taste. The research report states that as the demand for cereals remains high in the urban areas it is likely to accelerate the consumption of tropical fruit puree as well.
The other factor responsible for the soaring consumption of tropical fruit puree is the increasing consumption of fruit juices. Many fruit juice manufacturers are using fruit purees to enhance the taste of juices and to give it a smooth blend. Purees are also added to fruit juices to give it a thickness. Addition of purees to fruit juices also makes juices as purees are rich in fiber. Thus, the demand for juices that are high in fiber is expected to boost the uptake of tropical fruit puree in the during the forecast period. The changing food habits, shift from consumption of aerated drinks to fruit juices, and improving expenditure on packaged items are also expected to make a considerable difference to the overall market.
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Changing Weather Conditions to Threaten Global Market
However, the positive trajectory of the global market is likely to face some tough challenges in the near future. For instance, the rapidly changing weather conditions has gravely impacted the yield of tropical fruits in many regions of the world, thereby affecting the puree market as well. Furthermore, the growing concerns pertaining food security are also likely to hamper the rise of the overall market. All of these factors are anticipated to be major restraints for the global tropical fruit puree market in the near future.
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Global Tropical Fruit Puree Market has been segmented on the following basis:
Tropical Fruit Puree Market Size (Value (US$) and Forecast By Fruit Type
- Passion Fruit
Tropical Fruit Puree Market Size (Value (US$) and Forecast By Nature
Tropical Fruit Puree Market Size (Value (US$) and Forecast By End Use
- Infant Food
- Bakery & Snacks
- Ice-cream & yoghurt
- Dressing & sauces
Tropical Fruit Puree Market Size (Value (US$) and Forecast By Region
- North America
- Latin America
- Middle East and Africa
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research