The global passion fruit concentrate market was estimated at a market value of US$ 540 million in 2022 and is expected to grow at a significant CAGR of over 8.1% over the forecast period of 2023-2028.
Growing consumer awareness of the health benefits and unique flavor profile of passion fruit drives the demand for passion fruit concentrate. Consumers are seeking natural and exotic flavors in their food and beverages, and passion fruit concentrate provides a convenient and versatile option for incorporating the flavor into various products. The use of passion fruit concentrates in a wide range of products, such as juices, smoothies, desserts, sauces, and cocktails, drives its demand among food and beverage manufacturers. Passion fruit is known for its rich nutritional profile and potential health benefits. It is a good source of vitamins, minerals, antioxidants, and dietary fiber. As consumers become more health conscious, the demand for natural and functional ingredients, like passion fruit concentrate, increases.
Market Scope and Report Overview
According to a deep-dive market assessment by RationalStat, the global passion fruit concentrate market has been analyzed based on market segments, including application, based on source and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.
Market intelligence for the global passion fruit Concentrate market covers market sizes on the basis of market value (US$/EUR Million) and volume (‘000 units/tons/liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector, and products/services 10-year outlook and its implications on the global passion fruit concentrate market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
Period Covered include data for 2019-2028 along with year-wise demand estimations
The passion fruit concentrate market report analyzes the market based on global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies based on dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global passion fruit concentrate market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.
In the competition analysis section, the global passion fruit Concentrate market provides a detailed competition benchmarking analysis based on the market share of the leading companies/brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables clients and report buyers to make strong, precise, and timely decisions.
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Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment
In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.
The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across most industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.
Competition Analysis and Market Structure
Some of the prominent players that contribute significantly to the global passion fruit concentrate market growth include Britvic plc, Ceres Fruit Juices Pty Ltd, CO-RO A/S (Sunquick Concentrate), Dafruta, Ingredion Incorporated, Kiril Mischeff Group Ltd, Passi AG, Planters Treasure Enterprises Private Limited, Quicornac S.A., and The Perfect Purée of Napa Valley, among others.
RationalStat has segmented the global passion fruit Concentrate market based on source, application, and region.
- Global Passion Fruit Concentrate Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Source
- Global Passion Fruit Concentrate Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Application
- Infant Food
- Bakery and Snacks
- Ice Cream and Yogurt
- Global Passion Fruit Concentrate Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Region
- North America Passion Fruit Concentrate Market
- Latin America Passion Fruit Concentrate Market
- Rest of Latin America
- Western Europe Passion Fruit Concentrate Market
- Rest of Western Europe
- Eastern Europe Passion Fruit Concentrate Market
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Passion Fruit Concentrate Market
- South Korea
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Passion Fruit Concentrate Market
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Rest of the Middle East & Africa
- North America Passion Fruit Concentrate Market
- Leading Companies and Market Players
- Britvic plc
- Ceres Fruit Juices Pty Ltd,
- CO-RO A/S (Sunquick Concentrate)
- Ingredion Incorporated
- Kiril Mischeff Group Ltd
- Passi AG
- Planters Treasure Enterprises Private Limited
- Quicornac S.A.
- The Perfect Purée of Napa Valley
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Key Questions Answered in the Passion Fruit Concentrate Report
- What will be the market value of the global passion fruit concentrate market by 2028?
- What is the market size of the global passion fruit concentrate market?
- What are the market drivers of the global passion fruit concentrate market?
- What are the key trends in the global passion fruit concentrate market?
- Which is the leading region in the global passion fruit concentrate market?
- What are the major companies operating in the global passion fruit concentrate market?
- What are the market shares by key segments in the global passion fruit concentrate market?
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