The global Processed Mango Products Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global processed mango products market is projected to reach USD 25.55 billion by 2025, according to a new report by Million Insights. The market is expected to grow at a CAGR of 6.4% over the forecast period. The rise in demand for fruit-based beverages and food products is attributing to the market growth.
Key Players:
- Jain Irrigation Systems Ltd.
- Capricorn Food Products India Ltd.
- Compañia Envasadora del Atlántico
- Agrana Group
- 7D Mangoes
- ABC Fruits
- Food & Inns Ltd.
- Del Monte Foods
- Keventer Agro Ltd.
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Growth Drivers:
The demand for mango-based products is on the rise in developed countries such as Germany and the United States. Orange juice has been a popular drink in North America. However, orange juice increases the acidity level in the individual body. Owing to this reason, North American consumers are shifting their preferences, which, in turn, is supplementing the demand for mango products. Mangoes are produced in different forms such as Tommy Atkins, Palmer and Alphonso. Availability of a wide range of mango offer variation in tastes and color. This factor is expected to fuel the market growth throughout the forecast period.
Product Type Outlook:
- Primary
- Secondary
Distribution Channel Outlook:
- Online
- Offline
Among distribution channels, the online segment is expected to grow with the fastest CAGR throughout the forecast period. Growing e-commerce platforms and digital marketing are proliferating this growth. Introduction of various online grocery platforms such as Costco, Walmart and Big Basket are positively affecting the sales of these products through online platforms. Leading players are opening their own online platforms to propel online sales.
Regional Outlook:
Asia Pacific occupied the largest market share, in 2018 with over 35%. India and China accounted for the major share in the Asia Pacific. These two countries are also the leading producers of various other fruits. India alone produces 45% of the world’s total mangoes. Further, the presence of leading players such as Jain Irrigations and Capricorn is driving the growth of the region.
North America, on the other hand, is likely to witness the highest CAGR over the forecast period. Increasing preferences for organic mangoes in the region is attributing to this growth. Orange is the most consumed beverage in the U.S. However, recently orange prices have increased significantly across the U.S; pushing manufacturers to focus on other fruit-based beverages and pulps.
Middle East and Africa is expected to grow with a significant growth rate owing to increasing focus by the government to promote healthy eating habits. Moreover, the region is expected to show significant demand for dried mangoes owing to their longer shelf life. This factor, in turn, is likely to affect the overall growth of the sector.
COVID-19 Impact Insights
Processed mango product market has been adversely affected owing to the outbreak of COVID-19. Supermarkets, hypermarkets and convenience stores are the major sales channel for processed mango. Following the closure of retail outlets selling processed mango products, there has been a considerable drop in the sales of these products. Despite the reopening of these stores owing to the relaxation in the lockdown norms, their demand remained considerably low. Consumer spending on such products has also reduced due to COVID-19. Consumers are more inclined towards organic and natural fresh products.
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