Specialty Crops Market to grow by US$ 1,203.81 million and Accelerate at a CAGR of 2.6%|The Insight Partners

The specialty crops market was valued at US$ 982.17 million in 2019 and is projected to reach US$ 1,203.81 million by 2027; it is expected to grow at a CAGR of 2.6% from 2020 to 2027.

Report Spotlights:

• Progressive industry trends in the global specialty crops market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the global specialty crops market from 2017 to 2027
• Estimation of global specialty crops demand across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
• Recent developments to understand the competitive market scenario and global specialty crops demand
• Market trends and outlook coupled with factors driving and restraining the growth of the global specialty crops market
• Decision-making process by understanding strategies that underpin commercial interest with regard to global specialty crops market growth
• Global specialty crops market size at various nodes of market
• Detailed overview and segmentation of the global specialty crops market, as well as its dynamics in the industry
• Global specialty crops market size in various regions with promising growth opportunities

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Specialty crops refer to fruits and vegetables, tree nuts, dried fruits, horticulture, and nursery crops (including floriculture). They also include exotic crops that are specifically cultivated across a region due to climatic and topographical features. With the growing population, coupled with rise in per capita disposable income, a paradigm shift in consumer eating patterns have been observed, which has a direct impact on the demand for healthy and tasty food. Further, rapid urbanization, ethnic composition, health concerns, and changes in demographic features are other factors promoting the demand for specialty crops. The widening application scope of specialty crops, supportive government measures, and free trade policies are the key factors driving the specialty crops market. However, the environmental and trade barriers restrict the growth of the specialty crops market.

In 2019, Asia Pacific held the largest share of the global specialty crops market. The region comprises several emerging countries, and owing to rising disposable income of the populace, the lifestyle of consumers is changing rapidly. Moreover, the influence of western lifestyle and rapid urbanization is propelling the growth of convenience foods in this region. Customers in the region are highly attracted to plant-based food products, which is further leading to the growth of the specialty crops market. In order to attain an optimum market share, companies in the region are implementing various technologies. For instance, companies in China are using accelerated ripening storage to satisfy market demand. Accelerated ripening guarantees the same color, smell, and taste similar to that of naturally ripened fruits. Many players have started to acknowledge the necessity and importance of accelerated ripening and have established accelerated ripening warehouses.

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Market Insights:

Supportive Government Measures and Free Trade Policies

The growth of specialty crops is strongly supported by positive government initiatives, which include sales and marketing activities, plant pest and disease prevention, and research & development. For instance, the farm bill passed in 2018 (Agriculture Improvement Act of 2018) aimed at reauthorizing and extending current programs to promote the growth of several specialty crops, such as fruits and vegetables, tree nuts, and nursery products. The farm bill was implemented to offer support to specialty crop producers through Specialty Crop Block Grant Program and the Specialty Crops market News.

Global Specialty Crops Market - by Category:

• Organic
• Conventional

Global Specialty Crops Market - by Crop Type:

• Fruits And Vegetables
• Tree Nuts
• Herbs And Spices
• Others

Company Profiles:

• DIAMOND FRUIT CO.
• Harbor Spice Co., Inc.
• Olam International
• Oregon Spice Company
• The Specialty Crop Company
• BanaBay Limited
• Rice Fruit Company
• Fisher Nut Company
• Simped Foods Pty Ltd.
• SVZ Industrial Fruit & Vegetable Ingredients

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This release was published on openPR.