Worldwide Analysis on Fruit Concentrates And Puree Market Strategies and Forecasts, 2014 to 2020
India’s annual fruit production is approximately 94 Mn tonne, making it the second-largest producer of fruits in the world. India also produces a variety of fruits due to the varied climatic conditions in the region. Various growth factors for beverage industry includes using high quality concentrates and puree as consumers are relatively sensitive to the quality and taste of the product. Hence, purchasing fruit concentrates and puree from healthy and reliable sources increases the demand of the product. Another growth factor is product differentiation .Product differentiation can be done by advertising which can boost the company’s sale by differentiating the company’s product from others. Growing urbanization, increase in disposable income, demand for healthy and convenient food options and changing food consumption pattern are other growth drivers of the market. Some restraints in the industry include lack of infrastructure for cold storage and warehousing, inadequate infrastructure for quality control and testing, inefficient distribution channels, high inventory carrying cost, high cost associated with packaging and high preferences for fresh food and seasonal availability of raw materials.
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On the basis of application, the market can be segmented into beverages, dairy, frozen novelties, flavours, baked food, jams and spreads, soups, sauces, baby food and others. The fruit concentrates and puree market can be segmented geographically into North America, Western Europe, Asia Pacific and Rest of the World.
The fruit concentrates and puree market has been segmented on the basis of geography, type, technology and application. On the basis of type, the market is segmented into fresh, fresh cut, frozen and dried. On the basis of type of fruit used, the major segments are pineapple, mango and banana. Among these, pineapple is the most popular fruit concentrate, accounting for 60% of the world’s fruit juice trade.
The major markets for fruit concentrates and puree market are European Union, the Middle East and the U.S. Fruit juices, concentrates and purees are traded internationally and used by a variety of industries; mainly the beverages industry. Beverage industry is the largest end-user of concentrates and purees, producing numerous drinks, nectars and syrups. Mango concentrate is base ingredient for all drinks. Several industries use banana pulp to enhance the flavour of drinks, and it is relatively cheaper than mango. Other products that are traded internationally are acerola from Brazil, Cherimoya from Venezuela and Brazil, Lychee from Brazil and starfruit.
Innovation is a major strategy companies adopt to increase market share and to meet the changing customer needs. Intense expenditure on advertising helps industries to create opportunities and increase market share. Social media platforms play a pivotal role in building brand image, helping in understanding consumer behaviour and providing personalized solutions. Recently, various companies have been entering into Joint Ventures (JVs) in order to expand product portfolio and increase market share. Companies which signed joint ventures are the U.S., the U.K., Netherlands, Switzerland and Germany. The objective behind JVs is to ensure increased production of puree and fruit concentrates.
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Major players in the fruit concentrates and puree market are Oceanaa, DöhlerGroup, Capricorn, and Mine Products among others.
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