Specialty Crops Market Leading Competitors, Regional Trends and Growth

The global 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.

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.

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Analysis of the Top Market Players:

1. DIAMOND FRUIT CO.
2. Harbor Spice Co., Inc.
3. Olam International
4. Oregon Spice Company
5. The Specialty Crop Company.
6. BanaBay Limited
7. Rice Fruit Company
8. Fisher Nut Company
9. Simped Foods Pty Ltd.
10. SVZ Industrial Fruit & Vegetable Ingredients

In this report, the market has been segmented on the basis of:

Category (Organic and Conventional)
Crop Type (Fruits and Vegetables, Tree Nuts, Herbs and Spices, and Others)

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Based on category, the global specialty crops market has been segmented into organic and conventional. The conventional segment led the global specialty crops market in 2019. Conventional farming is one of the most practiced farming methods that involve the use of synthetic fertilizers, pesticides, and other chemical compounds. The conventional farming technique is widely adopted among small and marginal farmers to obtain higher yield at a lower production cost. The technique runs in favor of the producers and cultivators as the yields are high in comparison to cost. Moreover, the lack of knowledge among farmers regarding the health and environmental benefits associated with organic farming is promoting the growth of the segment. However, there are several disadvantages related to this method. Crops cultivated using conventional method contain chemical residues, due to the use of synthetic agrochemicals, which may be hazardous for animals and humans.

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