“Superfruits” is a marketing term used to increase the sale of some special fruits that have extra nutritional benefits when compared to other fruits. According to the Food and Agriculture Organization (FAO), the scientific definition of “superfruit” is based on two criteria – the nutritive value and the extra nutritional benefits. Antioxidant capacity is the most widely recognised bioactive attribute of a superfruit.
The global processed superfruits market accounted for US$ 38.1 Bn in 2015 and has been estimated to reach US$ 40.1 Bn by 2016 end, reflecting a Y-o-Y growth rate of 5.2%. In terms of volume, the global processed superfruits market is projected to reach 18 Mn tons by 2026 end, exhibiting a CAGR of 5.9% over the forecast period (2016 – 2026).
Significant demand for superfruits based antioxidants expected to drive overall market growth
Growth of the global processed superfruits market is expected to be driven by an increasing demand for antioxidant-rich superfruits. Consumer inclination towards natural food products such as frozen fruits and an increasing demand for ready-to-eat (RTE) foods and ready-to-drink (RTD) beverages is further likely to boost market growth. The multiple uses of superfruits as natural food colour, natural food flavour, and other purposes besides dietary food and functional ingredients is another key driver for the growth of the global processed superfruits market.
However, high costs associated with the production, processing, and preservation of processed superfruits and a lack of consistency in terms of superfruits flavour is likely to pose challenges and restrict the growth of the global processed superfruits market over the forecast period.
Powder form segment likely to hold the highest market share throughout the forecast period
The Powder segment accounted for US$ 26.84 Bn in 2015 and this is estimated to reach US$ 28.21 Bn by the end of 2016, reflecting a growth rate of 5.1%. The Liquid segment is anticipated to reach 94,207 tons in volume by the end of 2026, registering a volume CAGR of 4.9% during the forecast period.
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Beverages application segment likely to account for the highest market share between 2016 and 2026
The Beverages segment is anticipated to account for a market share of 65.8% of the global processed superfruits market by the end of 2016. The Food segment is estimated to reach a market valuation of US$ 20.75 Bn by 2026 and register a CAGR of 5.3% during the forecast period.
APEJ market slated to be the fastest growing market throughout the forecast period
The APEJ processed superfruits market is estimated to reach 3,422,838 tons in terms of volume by the end of 2026, registering a healthy volume CAGR of 5.9% during the forecast period. In 2015, the North America processed superfruits market was valued at US$ 10.52 Bn, which has been estimated to reach US$ 11.11 Bn by 2016 end, reflecting a growth rate of 5.6%.
The Latin America processed superfruits market accounted for US$ 4,043.8 Mn in 2015, and is estimated to increase to US$ 4,268.2 Mn by the end of 2016, reflecting a growth rate of 5.6%. The Japan processed superfruits market is anticipated to represent absolute $ opportunity of US$ 94.7 Mn in 2016 over 2015.
Global processed superfruits market players are adopting robust growth strategies to compete in the market
Symrise AG, SunOpta Inc., Kerry Group plc, Agrana Beteiligungs-AG, Del Monte Pacific Limited, Ocean Spray Cranberry Inc., PepsiCo, Inc., Dabur India Ltd., Uren Food Group Limited, and Frutarom Industries Ltd. are some of the top companies operating in the global processed superfruits market. Leading companies dominating the global processed superfruits market are focussing on diversifying their product portfolio and expanding their businesses in emerging markets through strategic mergers and acquisitions.
By Fruit Type
By Food Sub-Segment
- Functional Food
- Dairy Products
- Bakery and Confectionery
- Other Food Products