The global fruit powder market size is expected to reach USD 23.96 billion by 2025 as a result of a positive outlook towards the nutraceutical industry. Consumers are continuously striving for the fulfillment of their nutritional intake through functional food and drinks. Rising awareness regarding the importance of micronutrients including vitamins, minerals, and amino acids has resulted in increased product demand. With changing lifestyle patterns, consumers are inclined towards convenience food meeting specific nutritional requirements. The aforementioned trends have resulted in growth in demand for nutraceuticals and thus, in turn, will fuel market for fruit powder.
Increasing demand for fruit extracts as a crucial ingredient from organic nutraceuticals is expected to propel the fruit powder sector. Extensive promotional strategies by manufacturers to make consumers aware about the benefits of organic ingredients over synthetic products is expected to drive expansion of the organic nutraceutical sector. For instance, Unilever is strengthening its product portfolio through the addition of TRESemmé Botanique Nourish and Replenish Shampoo range which is composed of coconut extracts.
Rising spending by international organizations on the development of preventive measures for cancer is expected to remain a key trend in the fruit powder market. In addition, growing consumer awareness about preventive healthcare to avoid the occurrences of numerous diseases impacting heart and brain health is projected to increase the spending for the fortification of fruit powder as a functional ingredient in the food and beverage product formulations.
Findings of research studies conducted by various international organizations are contributring to increasing awareness about the availability and advantages of fruit powder. For instance, the International Agency of Research on Cancer (IARC) of the World Health Organization (WHO) stated that fruit and vegetable intake can help prevent gastrointestinal tract cancers. The agency further observed that the preventable percentage of cancer attributed to low intake of fruit and vegetable ranges from 5% -12% to 20% - 30% for upper gastrointestinal tract cancers and 5% to 12% for other carcinogenic disorders. It furthermore stated that in 2013, 5.2 million deaths were linked to inadequate intake of fruit and vegetables.
Consumers are increasingly becoming conscious about their health and are more inclined towards healthy eating habits. Abundant nutritional and fiber content in fruits and vegetables attracts the health-conscious consumers. Shifting preference from junk food to foods derived from natural ingredients is projected to result in promoting the importance of fruit powder as a functional additive among buyers.
Europe was the largest region for fruit powder market, reporting a revenue exceeding USD 3.0 billion in 2017. Favorable trends in lucrative food segments such as superfood, probiotic supplements, and dietary fibers goods are expected to bode well for regional growth. Rising addition of powders made of organic vegetables, wheat grass, and spirulina in packaged and on-the-go food products is expected to drive growth in demand for fruit and vegetable powder in Europe over the forecast period.
Asia Pacific is expected to be the fastest growing region with an expected CAGR of 8.4% during the forecast period. This is attributed to the significant gains in dairy and baked goods sector from developing nations such as China, Thailand, Vietnam, and India. Supportive government policies to boost production at the domestic level is a key trend expected to impel the regional growth in the forthcoming years.
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Hexa Research has segmented the fruit powder market report based on product, application and region:-
Segmentation by Product
• Speciality Fruits
• Conventional Fruits
Segmentation by Application
• Food & Beverages
• Pharmaceutical
• Nutraceutical
• Others
Segmentation by Region
• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa
Key Players Analyzed:
• The DMH Ingredients, Inc.
• Foods and Inns Ltd.
• FutureCeuticals
• Kanegrade Ltd.
• La Herbal
• NutraDry
• Paradise Fruits
• Baobab Foods
• Aarkay Food Products Ltd