Superfruits: Market Outlook
Superfruit production has been on a rise in developing countries such as China, India, Turkey, Philippines and many others. Also, the growth in superfruit consumption is not just limited to these countries but also U.S., Russia, Egypt, Spain etc. are the major superfruit consuming countries globally. Asia Pacific regions have evolved into a high-value growth for superfruit consumptions for juice and juice concentrates. The global market for superfruit is estimated to grow significantly and the major contributing factor is consumer orientation towards health food and healthy lifestyle. “Superfruit” is a term used to refer to fruits that have high nutritive value and are often consumed for the health benefits associated with it. A lot of high-value marketing is put in to promote the products made from these superfruit. Products made from such superfruit are often showcased to have numerous applications. The applications of superfruit include juices, dietary supplements, fresh bakery, sports drinks, functional food, fortified water and flavored drinks.
Superfruits Market: Reasons for Covering this Title
Rise in consumption of functional beverages is one of the key factors driving the market for superfruit. Functional beverages are drinks intended for conveying health benefits. Most of the functional beverages consist of ingredients like vitamins, minerals, fruits and fruit purees, and vegetables and such superfruit. The newer segments of functional beverages have been introducing as superfruit beverages and have instantaneously gained recognition and high demand. Superfruit ingredients in functional beverages are mostly added to performance and sports drinks, and, energy drinks, and fortified fruit drinks. North America is considered to be the largest market for functional beverages. Two key factors responsible for the high demand for functional beverages in the region include a greater level of awareness among consumers and high disposable income. Taking into account that North America has a relatively higher share in the global functional beverages market in terms of value sales, this one factor is driving the demand for Superfruit in this region.
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Global Superfruits: Market Segmentation
On the basis of fruit type, the global Superfruit market has been segmented as –
- Citrus Fruits
- Dragon fruit
- Pumpkin & pumpkin seeds
On the basis of distribution channel, the global Superfruit market has been segmented as –
- Convenience Stores
- Departmental Stores
On the basis of application, the global Superfruit market has been segmented as –
- Food and Beverages
- Bakery and confectionaries
- Baby food
- Ice-creams & desserts
- Dietary supplements
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Global Superfruit Market: Key Players
Some of the key players operating in the global Superfruit market are The Agrana Group, Chiquita Brands International Sàrl, Dole Food Company, Inc., Del Monte Foods, Inc., Fyffes plc, Grupo Noboa S.A., Kagome Co., Ltd., The Morning Star Company, Naturipe Farms, LLC., Citrosuco, among others.
Launching new product variants in superfruit market, generating awareness & marketing about the benefits of Superfruit products through various promotional activities are some of the key drivers supporting the superfruit market growth in the near future.