Processed Mango Product Market - Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Albany, NY -- (SBWIRE) -- 04/16/2019 -- According to a new market report published by Transparency Market Research titled "Processed Mango Product Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026," the global processed mango product market is expected to reach US$ 2,043.1 Mn and US$ 31,669.0 Mn for primary processed mango product and secondary processed mango product respectively by 2026, expanding at a CAGR of 6.1% and 7% respectively from 2018 to 2026. Asia Pacific held the dominant market share of the processed mango product market in 2017.
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Factors such as increasing consumption of mango products, increasing preference for highly versatile and sweet products, and rising awareness about nutritive products are driving the growth of the processed mango product market. However, availability of mangoes only during certain seasons, fluctuations in mango prices, and stringent regulations of food processing across the globe are the major restraints for the processed mango products market.
Rise in preference for organic mango products, and increasing consumption across the globe can increase the export value of mango products especially in the U.S. and in Europe. This market has threats from various substitutes of fruit based products in the market.
Primary processed mango products are produced from fresh mature mango having a particular texture, sensory parameter, and standard nutritional properties, whereas, secondary processed mango products are processed from primary processed mango by adding value to the product and blending it with other ingredients to gain texture and nutritional properties as per norms of regulatory bodies. Mango products across the world are anticipated to drive the growth of the processed mango product market during the forecast period due to growing preference for natural taste.
Additionally, consumers are opting for organic mango products to avoid chemical products for health reasons. Processed mango product manufacturers are shifting toward online channels for distribution. Additionally, using ultra high-density planting technology for cultivation of mango trees can benefit mango cultivators. This technology may boost the productivity of processed mangoes to meet the demand all over the globe.
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The processed mango product market has been segmented based on product type, distribution channel, and geography. Based on product type, the market has been segmented into primary processed mango product and secondary processed mango product. Primary processed mango product market is sub-segmented into dried mango, mango puree, mango pulp, mango concentrate, and IQF slices & dices.
Further, secondary processed mango product market is sub-segmented into fruit bar & candies, juice, pickles, and others which includes squash, jam, jelly, and nectar. By distribution channel, the processed mango product market is classified into online and offline.