London, UK -- (SBWIRE) -- 11/14/2017 -- Food and Beverages application segment to hit nearly US$ 2 Bn revenue by 2026
Food and Beverage is poised to remain the largest segment of the global acai berry market by Application. From a market value of more than half a billion dollars in the year 2016, it should hit nearly US$ 2 Bn in revenue at the end of the forecast period, with a CAGR of 13% in terms of value. In terms of volume, the Food and Beverage segment was a little more than 238,000 tonnes in 2016, and this is predicted to rise to slightly over 800,000 tonnes by the year 2026, representing a CAGR of 12.9% in terms of volume. The CAGR of the Food and Beverage segment in the global acai berry market is higher than all the other segments when seen on the basis of application.
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Food and Beverages segment has the lion's share of the global acai berry market
The revenue share of the food and beverage application segment was more than 75% of the global acai berry market in 2016, and this is expected to increase to almost 80% at the end of the study period. A massive rise of 231 BPS can be attributed exclusively to the Food and Beverage segment and this growth is predicted to come at the expense of all other segments in the global acai berry market. The market share of the Food and Beverage segment is predicted to rise significantly over the forecast period because of booming demand in the super fruit juice industry as a result of changing preferences in favour of healthy drinks. Y-o-Y growth rates ranging from 11% to 9.9% over 2016–2026 can be safely assumed in the Food and Beverage segment, making it record the highest growth in the global acai berry market. An absolute dollar opportunity of more than US$ 1.8 Bn exists in the Food and Beverage segment of the global acai berry market.
Nutraceuticals application segment to emerge a pale second in the global acai berry market
The Nutraceuticals application segment accounted for just over 10% of the global acai berry market in the year 2016 and this segment is anticipated to lose a massive 124 basis points over the course of the decadal study. However, the Nutraceuticals segment is predicted to witness Y-o-Y growth rates ranging from 9.4% to 8.4% over the period 2016-2026 making it the second highest segment by application after the Food and Beverage segment in the global acai berry market. In 2016, the Nutraceuticals segment was worth more than US$ 75 Mn and this is forecast to grow to almost US$ 225 Mn by the end of 2026, registering a CAGR of 11.3% in terms of value. With respect to volume, the Nutraceuticals segment registered close to 34,000 tonnes in 2016 and this is anticipated to rise to more than 95,000 tonnes towards the close of the decade, registering a CAGR of 11.2% in terms of volume. An absolute dollar opportunity of more than US$ 135 Mn can be exploited in the Nutraceuticals application segment of the global acai berry market for the 10 year period between 2016 and 2026.
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acai berry market
Health conscious customers drive demand in the Nutraceuticals segment
Rising awareness and a noticeable shift towards healthier alternatives are responsible for the surge in demand for acai berry nutraceuticals. Nutraceuticals are available in powder form, capsule form or tablets that can be consumed directly. These capsules or tablets are rich in ORAC value and contain high antioxidants that lead to various health benefits. This rise in demand for acai berry nutraceuticals is boosting the consumption and revenue share of the Nutraceuticals application segment in the global acai berry market.