Fresh Onions And Shallots Market Is Projected To Accumulate An Approximate Revenue Of US$ 71.5 Billion By 2033

The market for fresh shallots and onions is expected to reach a value of US$ 42.1 billion in 2023 and grow at a 5.4% CAGR during the following ten years. As a result, it is anticipated that by the end of 2033, the global demand for fresh onions and shallots will generate around US$ 71.5 billion in revenue.

Burgeoning application as a condiment and food formulations coupled with perceived medicinal benefits of onions and shallots are key factors contributing to the growth of global fresh onions and shallots market, predicts Fact.MR.

Fact.MR's report on the global fresh onions and shallots market, offers a 5-year forecast, delivering key insights on the market dynamics shaping the market's growth trajectory. The report also assays a comprehensive competitive landscape, with insights on key market leaders and their expansion strategies. Fact.MR foresees potential expansion opportunities in the global fresh onions and shallots market considering the demand for year-round onion supply.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.factmr.com/connectus/sample?flag=S&rep_id=293

Key regions including North America, Europe, and APEJ are projected to significantly contribute to the growth of global fresh onions and shallots market, throughout the assessment period, accounting for a collective revenue contribution of approximately US$ 40 Billion through 2022. The North American fresh onions and shallots market is likely to witness significant demand for red and large-size onions. However, since the production of jumbo onions remains low in North America owing to unfavorable weather conditions during the harvest season, prices are anticipated to skyrocket.

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝

• Murakami Produce Company LLC
• Gills Onions
• River Point Farms
• Oldershaw Group
• Snake River Produce
• JC Watson Company
• T&G GLOBAL
• Vladam
• GIY
• Dixondale Farms
• Avantha Holdings Limited
• Mammoth Onion

Europe on the other hand, being a large producer of onions, has switched from being a net importer to a net exporter, with Spain and Italy being key producers followed by Netherlands, France, and Poland. Atlas, Pikant, and Ed's red type are the most common shallots grown in APEJ. APEJ is likely to remain a dominant market owing to the seasonal diversity in the region. Global focus on sweet onions will open new market opportunities for producers in APEJ, predicts Fact.MR.

Red onions are projected to be highly preferred in terms of product type, bringing US$ 15.4 Billion revenue, through 2022. Red onions have gained popularity in the recent, especially in foodservice industry-used in salads and sandwiches. In terms of culinary usage, most Asian and European countries use red onions owing their full-bodies flavor and bright hue. Yellow onions are projected to account for nearly 1/3rd of the global market share, owing to their slightly sweet taste notes- a trend that could favor the yellow onions sales.

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐅𝐫𝐞𝐬𝐡 𝐎𝐧𝐢𝐨𝐧𝐬 𝐚𝐧𝐝 𝐒𝐡𝐚𝐥𝐥𝐨𝐭𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

By Product Type :

• Yellow Onions
• Red Onions
• White Onions
• Spring Onions
• Sweet Onions
• Shallots
• Other Product Types

By Form :

• Whole
• Slices
• Rings
• Chopped
• Minced
• Other Forms

By Application :

• Culinary
• Soups, Sauces, and Dressings
• Snacks & Convenience Foods
• Bakery Products
• Fast Food Restaurant Chains
• Meat & Poultry Products
• Other Applications

By Region :

• North America
• Latin America
• Europe
• APAC
• MEA

Growth of this segment is mostly attributable to the demand for low-calorie foods by the health-conscious population. In terms of product form, whole fresh onions and shallots are expected to remain the most preferred, accounting for approximately 58 percent market share, over the forecast period.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=293?PS

Favorable government incentive schemes and relatively good domestic production is likely to turn the global pricing of fresh onions and shallots fairly competitive in the international markets, with a potential increase in export shipments. Key stakeholders in the fresh onions and shallots market value chain are anticipated to improve their agricultural productivity (keeping up with seed and technique advancements) and strengthen their supply chain. Escalating trade tensions will remain a key concern, affecting the overall import and export scenario of fresh onions and shallots, predicts Fact.MR.

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

This release was published on openPR.