"Overview of Processed Mango market"
The Processed Mango market was valued at US$ XX Mn in 2018 and it is projected to reach more than US$ 27.7 Bn by 2027, growing at a CAGR of 5.9 % during the forecast period.
The global Processed Mango market is estimated to witness significant growth in the coming years. Some of the major factors driving the growth of the global market include rising demand for mango and mango-based products, the rising popularity of fruit-flavored food items, and growing advertising and promotional activities across the globe.
Rising Consumption of Fruit Beverages is Fuelling the Demand for Processed Mango Across the Globe
In U.S. and Germany, a rapid rise has been registered for the consumption of fruit-based beverages. Different varieties of mango including Palmer, Tommy Atkins, Alphonso, and Kent is gaining popularity across the globe which is likely to favour the growth of the global market. Moreover, the manufactures are engaged in introducing variations in terms of taste, color, and texture intended to increase their customer base in different regions.
However, the seasonal cultivation of mangoes might hamper the growth of the global market at a minimal extent.
Secondary Segment had dominated the Global Processed Mango Market in 2018
Based on product type, the secondary segment is to be the dominant segment throughout the forecast period. Several beverage companies are introducing mango-based juices, squashes, and powder mixes which is fuelling the growth of the segment. Moreover, mangoes are also used in making pickles and chutneys. These products are loved by consumers from each age group owing to their great taste and long shelf life which is expected to support the growth of the segment.
On the other hand, the primary segment is estimated to witness the fastest growth during the forecast period. The growth of the segment can be attributed to the growing consumption of these products in ice cream mixes, fruit meals, and puddings. Moreover, the primary concentrates are majorly being used in the food and beverage industry which will further drive the growth of the segment in the future.
Online Segment is anticipated to be the Fastest-Growing Segment
Based on the distribution channel, the global processed mango market is dominated by the offline segment, however, the online segment is estimated to witness the fastest growth during the forecast period. The dominance of the offline segment is accredited to the extensive distribution network of mango cultivars across the globe. Moreover, the easy availability of processed mango products at fruit stalls, hypermarkets, and supermarkets is favouring the segment growth. Moreover, the increasing B-2-B sales of these products including pulps and dry mango is anticipated to create new opportunities for the growth of offline channels.
Furthermore, the introduction of online grocery shopping such as Grofers, BigBasket, and AmazonPantry is promoting the growth of online channels. Manufacturers are providing IQF options and dry mangoes in offseason via an online platform which is expected to create growth opportunities for the segment in the coming years.
The Asia Pacific held a significant share in global Processed Mango in 2018
In terms of region, Asia Pacific is anticipated to be the dominant region over the forecast period. China and India are the largest contributors for the processed mango market in the Asia Pacific. These countries are one of the largest producers of fruits in the world. India is the largest mango producer and holds the leading position in the export of mangoes. Moreover, the presence of leading players such as Jain Irrigations and Capricorn supports the growth of the region.
Furthermore, North America is projected to growth at the fastest CAGR between 2019 to 2027. The growth of the region can be attributed to the rising demand for organic fruits across the region.
The Middle East and Africa are also expected to show noteworthy growth in the coming years. The growth of the region is mainly due to promotional activities conducted by the regional government to spread awareness regarding healthy eating habits. The demand for dry mangoes is also increasing rapidly across the region which is expected to bode well with the growth of the region.
The global Processed Mango market is fragmented with several local and few global players. Few key players operating in global Processed Mango market are Agrana Group, Foods & Inns Limited, Allanasons Private Limited, Galla Foods, Del Monte Foods, Inc., Manbulloo Limited, Jain Irrigation Systems Ltd., ABC Fruits, Vadilal Industries Ltd., Varadharaja Foods Private Limited, Capricorn Food Products India Ltd., The Proeza Group, Keventer Agro Ltd., Valleyfresh Pty. Ltd., Freshtrop Fruits Limited, Sunrise Naturals Private Limited, Superior Foods, Inc., 7D Mangoes, and Dohler GmbH.
Global Processed Mango Market by Product Type
- Dried/Dehydrated Mangoes
- Puree, Pulp & Concentrate
- IQF Slices & Dices
- Fruit Bar & Candies
- Others (Squash, Jam, Jellies, Nectar)
Global Processed Mango Market by Distribution Channel
Global Processed Mango Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America