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Fruit Preservatives Market Segmentation by Product Type (Natural, and Synthetic); by Treatment Type (Coating, Fungicides, Sanitizers, and Others); by Function Type (Antioxidant, Antimicrobial, and Enzyme Inhibitors); by End-Users (Supermarkets, Retailers, Convenience Stores, and Others) - Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Fruit Preservatives Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • August 18, 2020: Corbion NV announced that it has been granted a European patent for its fruit ferments that can be used across a wide range of food applications.

Fruit Preservatives Market Highlights 2020-2030

The global fruit preservatives market is anticipated to grow with a significant CAGR during the forecast period, i.e., 2021-2030. The growth of the market can be attributed to the growing usage of preservatives for different types of fruits in order to avoid their spoilage along with the changing consumer preferences towards fruits. Further, growing production of fruits worldwide, followed by the surge in the demand for ready to eat fruits, along with the growing demand for preservatives from fruit & beverage industry in order to stop the development of disease in fruits, are anticipated to drive the market growth during the forecast period. For instance, the production of fruits around the globe grew from close to 0.5 Billion Tonnes in 2000 to around 0.8 Billion Tonnes in 2018. On the other hand, the growing awareness for organic preservatives and the need to lower wastage of fruits so as to align with the targets of the sustainable development goals (SDGs) of the United Nations, are also anticipated to drive the market growth. Additionally, increasing trade on fruits and fruit products worldwide is raising the need among the cultivators and processors of fruits to use preservatives to enhance the shelf life of the products, which is also anticipated to drive the market growth.

Fruit Preservatives Market

The market is segmented by treatment type into coating, fungicides, sanitizers, and others, out of which, the coating segment is anticipated to hold the largest share in the global fruit preservatives market by the end of 2030. Coatings when applied on the fruit surface provides greater aesthetics and also helps to extend the shelf life. Moreover, coatings also reduce the water loss, slows senescence and aging, and imparts shine. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals Industry

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Fruit Preservatives Market Regional Synopsis

Regionally, the global fruit preservatives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of growing demand from consumers for fruits along with the rising demand for ready to eat fruits. Moreover, increasing preferences for packaged fruits, presence of numerous manufacturers in the region that manufacture fruit preservatives, and the need amongst the marketers to provide greater aesthetics to the fruit to obtain greater price are some of the additional factors anticipated to drive the growth of the market in the region. On the other hand, the market in the Asia Pacific is anticipated to witness a significant CAGR throughout the forecast period owing to the increasing exports of fruits from several countries in the region. For instance, India, which is one of the major exporters of fruits worldwide, recorded exports worth USD 670 Million during the period 2019-2020.

Global Fruit Preservatives Market

The global fruit preservatives market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global fruit preservatives market includes the following segments:

By Product Type

  • Natural
  • Synthetic

By Treatment Type

  • Coating
  • Fungicides
  • Sanitizers
  • Others

By Function Type

  • Antioxidant
  • Antimicrobial
  • Enzyme Inhibitors

By End-Users

  • Supermarkets
  • Retailers
  • Convenience Stores
  • Others

Growth Drivers

  • Growing Awareness for Fruit Preservatives
  • Increasing Trade of Fruits

Challenges

  • High Cost of Fruit Preservatives
  • Stringent Government Regulations for the Use of the Preservatives

Top Featured Companies Dominating the Market

  • Kemin Industries, Inc.
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis
  • Corbion N.V.
  • Kerry Inc.
  • Galactic SA/NV
  • DuPont de Nemours, Inc.
  • Archer Daniels Midland Company (ADM)
  • Apeel Sciences
  • DSM
  • Cargill, Incorporated

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