Passion Fruit Powder Gaining Popularity in Traditional Markets
With the advent of multiple plant based products in multiple consumer networks, demand for plant based ingredients has shown significant growth during the recent years. One such ingredient gaining popularity in the market, is passion fruit powder.
While passion fruit extracts are in high demand in multiple clusters, passion fruit powder is one of the novel ingredients in the market.
Passion fruit powder is expected to cannibalize share of multiple intermediate products like juice and liquid extracts during the coming years. The market is expected to see multiple new companies, as the demand escalates during the forecast.
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Passion Fruit Powder Market: Dynamics
Established efficacy of the passion fruit in nutrients and presence of multiple antioxidants is expected to play key factor in growing traction for passion fruit powder.
The current demand of passion fruit powder has been in the established neutraceuticals and supplements, but emergence of novel applications is expected during the coming years.
Plant based supplements are expected to be a lucrative avenue for exploration for passion fruit powder. Usage of passion fruit powder is also expected to replace multiple existing animal based sources of nutrients in multiple supplements.
Usage as substitutes in some of the bakery and confectionery usage is expected to augur well in the market, and in turn supplement the growth of demand for passion fruit powder. Increasing investments in flavoring and emerging new flavors are expected to benefit the growth of passion fruit powder demand.
Functional food products with usage of passion fruit powder are expected to be prominent opportunities for replacement of multiple synthetic and animal based sources of essential nutrients.
Passion Fruit Powder Market: Segmentation
The Passion Fruit Powder market can be segmented on the basis of application
On the basis of application, the Passion Fruit Powder market can be segmented into:
- Neutraceuticals
- Supplements
- Others
Passion Fruit Powder Market: Regional Overview
Presently, traditional markets like North America and Asia holds the largest share within the global passion fruit powder market. The regional distribution of the passion fruit and the consequent processing has been primary factor in the passion fruit powder market.
The demand from North America is expected to significantly increase during the coming years. The high concentration of consumers on health and increasing demand for alternative food additives is expected to be supplemental to the growth of the market.
Passion Fruit Powder Market: Key Players
The market for passion fruit powder is highly fragmented with a concentration of multiple regional and domestic players working in the market.
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The market has multiple Chinese intermediate ingredients manufacturers like Xi’an SR Bio-Engineering Co.,Ltd, Xi’an Virgin Biological Technology Co., Ltd, and Xian Saiyang Bio-Technology Co., Ltd. among others.
The high concentration of the companies has been on organic certification of end products to attract clients based in North America and Europe. Multiple new players are expected to enter the market during the recovery process of the COVID crisis.
Investments in relation to solving the throughput of the current processes is expected to be highly beneficial to the established as well as the new players in the market.
Passion Fruit Powder Market: Effects from the Covid-19 Outbreak
The overall demand for passion fruit in general has decreased over the crisis period. Plunging prices have resulted in consumers to consume more raw materials during the global pandemic in their native markets. However, the same could not be said for passion fruit powder since it’s a intermediate product that requires to be processed.
Several passion fruit powder manufacturers are designing measures and proactive strategies to help reduce their risk and are prepare to cope with the coronavirus consequences.
Significant decrease in trade in the global market has been noticed multiple markets. Passion fruit market has also been affected by these changes in the market. Changes in regulations and stringent guidelines for trade are expected to continue during the coming quarters and in turn affect the growth of the market.
The research report presents a comprehensive assessment of the Passion Fruit Powder market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data.
It also includes projections using a suitable set of assumptions and methodologies. The research report of the Passion Fruit Powder market provides analysis and information according to the different market segments such as application and region.
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