The market study covers the present scenario and growth prospects of the global fruit puree market for 2017-2021. The report also lists food and beverages as the two major application segments, of which the beverages segment accounted for more than 58% of the market share in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global fruit puree market:
- New product launches
- Increasing demand for instant baby food
- Launch of fruit puree from exotic fruits
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New product launches
One of the growth drivers of the global fruit puree market is the increasing demand for fruit purees, which is leading to the launch of several new product launches by market players. A successful new product launch will help the players to increase their revenue stream and improve their position in the market.
In February 2017, Piccolo launched its new product line of fruit purees for babies. The new product line included five flavors such as apple, banana, Stanley plum, mango, and Williams pear. Similarly, in April 2017, BeyondtheBean launched its new Sweetbird fruit purees. These products are available in six different flavors such as raspberry, coconut, passionfruit, strawberry, mango, and banana.
Increasing demand for instant baby food
Another growth driver for the global fruit puree market is the increasing demand for instant baby food products. Most mothers return to active work life soon after giving birth, and they look for healthy, nutritious, and convenient baby foods for their toddlers. Also, increasing urbanization and the growing middle-class population globally have significantly encouraged consumers to adopt convenience-oriented lifestyles. This, in turn, is making instant baby food and infant formula-based products a popular choice for working women.
According to Manjunath Reddy, a lead analyst at Technavio for food research, “The increase in the number of working women has also led to the growth in dual-income households. This, in turn, has resulted in a rise in the number of high average income per household. To capitalize on this factor, many players in the market are coming up with instant baby fruit purees which offer both convenience as well as nutrition.”
Launch of fruit puree from exotic fruits
The increasing use of exotic fruits for making purees is another factor that is driving the growth of the market. Players in the market are launching fruit puree products made from exotic fruits such as raspberry, plum, gooseberry, and various other exotic fruits. The exotic fruit puree segment is expected to grow in terms of both revenue and volume during the forecast period. In 2016, Oregon Fruit products launched its passion fruit puree and the product is available in different varieties such as 42-lb. bag-in-box, 425-lb. (55 gallons) drums, and 2,300-lb. totes.
“Players in the market are also coming up with purees made from various other fruits such as durian, jackfruit, dragon fruit, and others. The demand for exotic fruit puree is expected to increase during the forecast period as the taste preference of consumers Is changing, and they are open to experimentation with new products and new flavors,” says Manjunath.
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