North America Specialty Crop Market Impressively Grow in Future by Top Companies Analysis: Banabay, Rice Fruit Company, Fisher Nut Company

Data Bridge Market Research analyses that the North America specialty crop market will grow at a CAGR of 4.5% during the forecast period of 2022 to 2029.

Market Definition

Fruits and vegetables, tree nuts, dried fruits, horticulture, and nursery crops are examples of specialty crops (including floriculture). They also contain exotic plants grown in a particular area due to topographical and climatic characteristics. A paradigm shift in consumer eating behaviors has been documented due to population growth and an increase in per capita disposable income, directly affecting the demand for wholesome food. Other factors boosting the market for specialized crops include increased urbanization, ethnic diversity, health concerns, and changes in demographic characteristics.

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North America Specialty Crop Market Analysis and Insights

Fruits and vegetables, tree nuts, dried fruits, horticulture, and nursery crops are examples of specialty crops (including floriculture). They also contain exotic plants grown in a particular area due to topographical and climatic characteristics. A paradigm shift in consumer eating behaviors has been documented due to population growth and an increase in per capita disposable income, directly affecting the demand for wholesome food. Other factors boosting the market for specialized crops include increased urbanization, ethnic diversity, health concerns, and changes in demographic characteristics. The primary drivers of the specialty crops industry include the expanding application range of specialty crops, encouraging government initiatives, and free trade policies. However, expansion is constrained by trade and environmental constraints.

North America Specialty Crop Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:

Drivers:

Rising inclination of consumers toward vegan food, natural and healthy foods

As a conscious consumer, it is a particularly beneficial way of life because turning vegan would entirely isolate oneself from dangerous antibiotics, hormones, and adulteration, which is widespread culture to ensure prolonged shelf life for most animal goods. As exports grow and the world shrinks, more preservatives and chemical compositions are used to ensure that the food survives the journey. Veganism is also a non-violent lifestyle choice. People's increased health consciousness leads them to include more healthful items in their diets, such as medicinal herbs, spices, and nuts.

Thus, the rising inclination towards vegan and healthy food due to the rise in awareness of nutritional and medicinal benefits is expected to as a driver for specialty crop market growth.

The increased focus of consumers on healthy living

The North America market for specialty crops is being driven by a growing desire for a healthy lifestyle among people. The growing consumer preference for healthy lifestyles has become a driver for the creation of demand for specialty crops. Regardless of industry, many pioneers have considered this driver and are actively investing in specialty crop-based companies. An important aspect of leading a healthy lifestyle is eating healthy foods such as food made from specialized crops. A nutritious diet is critical for optimal health and nutrition. It protects against a wide range of chronic diseases, including heart disease, diabetes, and cancer. A healthy diet includes eating a variety of foods and consuming less salt, sugar, saturated fat, and industrially generated trans fats. Also, increased knowledge of the advantages of a healthy lifestyle causes consumers to select the best healthy food products, which include foods manufactured with specialty crops such as nuts, spices, herbs, and so on.

Thus, the increasing awareness and knowledge of the advantages of a healthy lifestyle cause consumers to select the best healthy food products, such as specialty crop products, eventually becoming a major driving force for specialty crop market growth.

Restraints

Strict regulations for food products

For a number of reasons, specialty crops are particularly vulnerable to the prevalence of foodborne illnesses. It might be challenging to completely clean or sanitize specialized crops because they are frequently consumed raw or with little preparation, depending on the particular fruit or vegetable. As technology advances, issues such as responsibility and laws are becoming more crucial. To reduce the dangers of foodborne illnesses as much as possible, specialty crop producers must be aware of the rules that may impact their business. Due to these reasons, food regulatory bodies such as Food and Drug Administration ("FDA") and the Food Safety and Inspection Service ("FSIS") kept strict rules and regulations for these crop production.

Thus, these regulations will create a barrier for many entrepreneurs to start and continue the market of specialty crops, which may act as a major restrain for the market growth.

The list of major players operating in the North America specialty crop market in a vertical format:
Banabay
Rice Fruit Company
Fisher Nut Company
SVZ Industrial Fruit & Vegetable Ingredients
United Natural Foods, Inc.
Lamex Food Group Limited
Herbs N Spices International
Harbor Spice Co., Inc.
Olam Group
Oregon Spice Company
Speciality Crop Company., INC.
NUTSCO
AGT Food and Ingredients
Natural Specialty Crops, ULC
Golden Peanut and Tree Nuts
FARMER DIRECT ORGANIC
Barnes Williams

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Post-COVID-19 Impact on North America Specialty Crop Market

Post the pandemic, the demand for specialty crops has increased as there won't be any restrictions on movement; hence, the supply of products would be easy. The persistence of COVID-19 for a longer period has affected the supply chain as it got disrupted, and it became difficult to supply food products to consumers, initially increasing the demand for products. However, post-COVID, the demand for specialty crops has increased significantly owing to good protein content and other nutrients available.

Recent Developments

In July 2022, SVZ Industrial Fruit & Vegetable Ingredients announced an investment plan for its Belgian processing plant in Rijkevorsel. This expansion will help the company to fulfill the growing demand for fruit and vegetable products from consumers by increasing the facility's capacity
In September 2020, The Fisher Nut Company introduced a new case packaging line due to increased demand for products during COVID-19

North America Specialty Crop Market Scope

North America specialty crop market is segmented on the basis of crop type, nature, and application. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Crop Type
Vegetables
Fruits
Tree Nuts
Herbs
Spices
Others

On the basis of crop type, the North America specialty crop market is segmented into fruits, vegetables, tree nuts, herbs, spices, and others.

Nature
Conventional
Organic

On the basis of product type, the North America specialty crop market is segmented into organic and conventional.

Application
Dairy Products
Bakery
Juices
Nectars & Fruit-Based Drinks
Confectionery
Soups
Sauces & Dressings
Others

On the basis of end user, the North America specialty crop market is segmented into dairy products, bakery, juices, nectars & fruit-based drinks, confectionery, soups, sauces & dressings, and others.

 North America Specialty Crop Market Regional Analysis/Insights

The North America specialty crop market is analyzed, and market size insights and trends are provided based on crop type, nature, and application, as referenced above.

The countries covered in the North America specialty crop market report are the U.S., Canada, and Mexico.

In 2022, the U.S. is expected to dominate the North America specialty crop market in terms of market share and revenue. It is estimated to maintain its dominance during the forecast period due to the growing demand for agriculture, and food consumption is the major reason for the growth of specialty crops in the North America region.

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What are New Additions in 2023?

Detailed industry outlook

Additional information on company players

Customized report and analyst support on request

Recent market developments and its futuristic growth opportunities

Customized regional/country reports as per request

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