Opportunities for fruit powder market are being created by the rising demand for clean label ingredients in food products. The fruit powder market is predicted to expand between 2023 and 2033 at a CAGR of 7.4%, according to Future Market Insights (FMI). The market for fruit powder is expected to increase in value from US$ 17.5 billion in 2033 to US$ 36.4 billion by 2033.
Because it is thought to be a rich source of nutrients, including vitamins, ascorbic acid, carotenoids, dietary fibre, and minerals, which are necessary for a healthy body, fruit powder has recently experienced tremendous growth in popularity among customers.
These nutrients helps to prevent various chronic diseases such as cancer, diabetes, obesity, heart disease, arthritis, respiratory disease, stroke and immune deficiency.
Focus on in healthy lifestyle has improved the consumption of organic and plant-based food products. While the demand for processed food which are ready-to-eat is on the rise, there also is increasing focus on the ingredient list to ascertain the presence of clean ingredients that complement a healthy lifestyle.
Increasing health awareness among the consumers have increased the demand for fruit powder globally. Fruit powder benefits both the manufacturers and the consumers because of its extended shelf life. It provides convenience not only for storage but also for transportation of food items. Import and export of fruit powder is feasible owing to its efficient packaging and extended shelf life.
Key Industry Players Are Launching New Fruit Powder Products in the market
Emerging countries such as Indonesia, South Africa and Peru present exceptional opportunity for growth of the market.
Companies such as European Freeze Dry Ltd. and Van Drunen Farms have revamped their strategies in developing countries and are offering greater access to their products through relaxed patent protection and expanded partnerships with manufacturers.
Fruit powder has numerous applications in the food & beverages industry such as functional beverages, confectionery, nutritional bars, bakery, dairy replacers and emulsion-type sausages, due to their nutritional and functional characteristics.
Recently, the fruit powder market has witnessed various product launches by key producers to increase their market share globally. Companies are introducing different ingredients dependent on fruit powder and different flavour for use in different segments.
For Instance- In 2020, Chaucer Foods Ltd. launched freeze dried fruit powders, to meet the rising demand for natural and healthy ingredients.
Mercer Foods, in year 2020 launched a range of freeze dried fruit powders that includes, apple powder, raspberry powder, peach powder and black currant powder.
Who is Winning?
Few of the players operating in the fruit powder market are, Kanegrade Ltd., European Freeze Dry Ltd., Drytech Process (I) Pvt. Ltd, The Green Labs LLC., Nutradry Pty Ltd, Paradise Fruits Solutions Gmbh & Co.KG, Vinayak Ingredients Private Ltd, Watershed Foods LLC., Artemis International, DMH Ingredients Inc., AS Harrison & Co Pty Ltd., RFI Ingredients. and other players.
Key players of Fruit powder are focusing on partnerships to gain larger market share and to capture new geographical areas to get access to new markets.