Processed Mango Products Market Size, Share, Growth, Trends and Forecast Report
by Susan Hill Business ConsultantThe
global processed mango products market size is expected
to reach USD 25.55 billion by 2025, according to a new report by Grand View
Research, Inc. It is projected to register a CAGR of 6.4% during the forecast
period. Increasing demand for fruit-based food and beverages is anticipated to
the primary growth driver.
Secondary
processed mango products occupied the largest market share in 2018 owing to
increasing demand for the juices. Mango is one of the most consumed and
cultivated fruits in India. To leverage the consumer preference for mango
flavor and increase product offering, Coco-Cola launched a new mango-flavored
premium juice - Maaza Gold in December 2017. Similar product launches in
different regions are expected to drive the demand.
Primary
processed product segment, on the other hand, is anticipated to witness
significant growth owing to increasing export and consumption of mango pulp.
The pulp and concentrates are used to make carbonated beverages, juices,
confectioneries, jams, and marmalades among others. Increasing application of
the pulp in various food and beverages is expected to further propel the
segment growth.
Online
distribution channel segment is anticipated to register the fastest CAGR over
the forecast period, due to growth of e-commerce and digital marketing.
Introduction of online grocery websites like Walmart, Costco, and BigBasket
among others is expected to drive the overall food and beverage market via
online distribution. This is expected to positively influence online sales of
processed mango products over the forecast period. Key manufacturers are
launching their own websites and are investing in efficient logistics and
customer services to increase online sales and to improve their market reach.
Asia Pacific
held the largest market share in 2018 due to the presence of the major players
as well as concentration of global production of the fruit in countries like
India and China. Moreover, the regional production is expected to increase due
to rising demand from the countries like Japan. North America, on the other
hand, is expected to register the fastest CAGR during the forecast period,
attributed to high demand for mango flavored food and beverages coupled with
rise in demand for organic mangoes. U.S. is one of the major importers of
mangoes and mango-based products.
In March
2019, Amul entered the fruit juice market by launching ‘Amul Tru’ in mango,
orange, apple, and lychee variants. This packaged fruit drink is Amul’s
strategy to compete with Frooti, Mazaa and other drinks in the global market.
In April 2018, Bisleri launched Bisleri Fonzo, a mango-based carbonated
beverage to increase its product offering and serve the consumers who prefer
mango-based beverages.
Further key
findings from the report suggest:
- Primary
processed product segment is expected to ascend at a CAGR of 6.9%,
attributed to the rise in demand for the pulp in confectioneries,
smoothies, and beverages
- Offline
distribution channel accounted for the maximum processed mango products
market share in 2018 and is anticipated to continue leading over the
forecast period
- In Middle East
and Africa, countries like UAE and Saudi Arabia are expected to witness a
rise in demand due to increased exports from India, Pakistan, and Kenya.
- Mexico has
opened its market to import of dried mango slices from India after
conducting a thorough pest risk analysis of the product consignments. This
factor is anticipated to bode well for the overall growth in near future
Access
full research report on global processed mango products market:
www.grandviewresearch.com/industry-analysis/processed-mango-products-market
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Created on Dec 31st 2019 04:48. Viewed 308 times.