Onions and Shallots both belong to the allium family. Onions have a very tangy, spicy and sharp flavor, whereas shallots have sweet, pungent and aromatic flavor. However, onions are used on a large scale in cooking, because shallots tend to lose the flavor when cooked. Manufacturers are using shallots as an ingredient in various food products such as snacks, dressing, soups, sauces, bakery products, etc., to enhance the taste. Both onions and shallots are witnessing increasing demand as they offer various health benefits.
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Onions are rich in allicin and fiber, thus reducing blood pressure and cholesterol. While shallots have anti-oxidant and anti-inflammatory properties that offer various health benefits. Manufacturers, fast-food restaurant chains are also increasingly using shallots in various dishes as it can be stored in the cool and dry area for six months, resulting in the longer shelf-life. Hence, dried and chopped shallots are also available in the market. Shallots are used as spices and commonly eaten raw in most of the Southeast Asian cuisines.
According to the latest report by Fact.MR, the global fresh onions and shallots market is expected to experience robust growth. The market is estimated to register 6.3% CAGR during 2017-2022. Shallots and onions are most commonly used interchangeably in cooking. Owing to its anti-inflammatory, anti-allergen and antioxidant benefits the consumption of shallots have increased.
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Similarly, onions also contain protective compound helping the digestive system. Both fresh onions and shallots enhance the taste of the food, hence they are being used on a large scale in cooking. Below insights show how the fresh onions and shallots market will perform in the coming years.
5 Forecast Highlights on Global Fresh Onions and Shallots Market
- Asia-Pacific Excluding Japan (APEJ) is expected to dominate the global fresh onions and shallots market. APEJ fresh onions and shallots market is projected to surpass US$ 20,700 million revenue by the end of 2024. Owing to the largest production of onions and shallots, Asia Pacific is witnessing the growth.
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- Europe is also likely to witness above-average growth in the global fresh onions and shallots market. The most common types of shallots grown in the region are atlas, pikant, and Ed’s red type. Moreover, the grey type of shallots is widely grown in the southern France. Red and yellow onions are also widely used in European cuisines.
- Red onions are expected to be the highly preferred product in the global fresh onions and shallots market. By the end of 2024, red onions are projected to bring in nearly US$ 15,400 million revenue. Meanwhile, yellow onions are also expected to account for nearly one-third of the revenue share by the end of 2017.
- Whole fresh onions and shallots are expected to emerge as the most preferred form as compared to fresh onions and shallots in form of slices, rings and chopped. Whole fresh onions and shallots are projected to create an incremental opportunity more than US$ 8,400 million between 2017 and 2024.
- Application of fresh onions and shallots is expected to be the largest in culinary. Culinary is estimated to surpass US$ 21,200 million revenue by the end of 2024.
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The report has also profiled leading players in the global market for fresh onions and shallots, which will remain active through 2024. These include companies such as Avantha Holdings Limited, Gills Onions, LLC, JC Watson Company, Murakami Produce Company LLC, River Point Farms Llc, Snake River Produce Co. Llc, T&G Global Ltd, and Vladam FG.
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