Global Guava Puree Market to Rise at 5.6% CAGR Due to Increased Demand in Food and Beverage Industry
Albany, NY -- (SBWIRE) -- 08/16/2018 -- Global guava puree market is expected to grow majorly due to its various health benefits. According to a report by Transparency Market Research, the global guava puree market is estimated to rise during the forecast period of 2017 to 2027 due to increased consumption of guava puree by various consumers due to its health benefit. The major companies in this market are involved in growing guava cultivation and supplying guava puree to food and beverage industry. Manufacturers are supplying guava puree to different regions depending on the penetration of demand in each region. Manufacturers are also involving in improving the taste and texture of the puree to attract more customers.
The global guava puree market is expected to rise at a CAGR of 5.6% by the end of forecast period. The market generated revenue of US$ 313.8 mn during 2017 and is expected to rise significantly in the coming years. According to variety, the leading segment is tropical pink with 55.2% share in 2017. Tropical pink segment is expected to continue leading the market during the forecast period. Geographically, Asia Pacific is expected to gain a significant amount of share by the end of forecast period.
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Demand in Western Part of World Increases Due to Health Benefits of Guava Puree
The major demand for guava puree market is derived from food and beverages industry. The advancement in processing and cultivation of guava puree has increased its demand in the market.
Demand in the western part of the world is provided by eastern part of the world due to increased consumption of the same. Eastern part of the world therefore consumes and also exports guava to western part of the world. Guava has various health benefits which increases its demand among consumers. It is helpful in maintaining bowel system and cleansing digestive system. Due to rise in diabetes, guava puree consumption has increased majorly in many regions of the world. It also help in boosting the blood sugar level. The adequate supply of guava is also leading to the increased consumption of guava puree globally. The taste, flavor, texture, and color of guava attracts and encourages customers to consume it. The increased consumption of guava puree due to its health benefits are likely to boost the market. These factors will show a significant rise in the growth and supply of guava puree during the forecast period.
Lack of Equipment to Hamper Growth of Global Guava Puree Market
India supplied guava to Middle Eastern countries and locally consumed the same. However, during 2014, the market for guava puree was hit by La Niña and El Niño events. This lead to unfavorable weather conditions thus leading to limited export of guava from Asian countries like India. There are also absence of adequate technologies and equipment for post-harvest of guava which is likely to hamper the growth of guava production during the forecast period. This is limiting the potential growth of global guava puree market.
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Some of the leading companies in the market of global guava puree market are Jadli Foods (India) Pvt. Ltd, Allanasons Private Limited, La Fruitière du Val Evel, ABC Fruits, Sresta Natural Bioproducts Private Limited, Döhler Group, Capricorn Food Products India Ltd., iTi Tropicals, Galla Foods Pvt. Ltd., Kiril Mischeff, Cobell Limited, and Bajaj Agro Foods India Ltd.,