Fruit purees have been often been replaced by imitation products and low standard fruit purees, some of which have been noticed and disallowed at the global level in recent years. Consumer anxieties regarding the origin of raw fruits have been a focal point, and consumers are willing to pay much more in order to get authentic products. Some of the manufacturers have responded to consumer demands by enhancing the traceability of products, by coding the product and generating traceability to particular farms across the globe. This has given rise to a wide range of applications for certain fruit puree products, one of them being avocado puree.
Use of avocado puree in infant food to rise at an extensive rate in the near future
Packaged baby food manufacturers are employing purees instead of fruits or vegetables that they mention in the product packaging. Most manufacturers use water or puree as their first product (with maximum share per gram) in their baby food products. Companies such as Plum Organics, Clif Bar & Company, Heinz, Kelloggs, and many more, use purees in their baby food products in large quantities. Most products that are labeled as healthy and whole fruit or vegetable are made from water and purees, with a hint of fruits or vegetables. The sales of ready-to-eat baby food is rising due to the fast-paced lifestyle of parents. People living in urban areas don’t have the time to prepare food at home, and tend to buy baby food products to fulfill the basic food requirements of their infants. Prepared baby foods have a better taste, and thus children also tend to like them, which multiplies the sales of these products and pushes the demand for purees.
Use of puree in processed food, juices, and smoothies to create lucrative opportunities in the global market
Fruit juices are commonly prepared from fresh fruits. However, several juice manufacturers have started using purees in fruit juices to give them a smooth blend and enhance the thickness of the smoothie or juice. As puree retains all of the juice and a large amount of the fibrous matter naturally found in the fruit, the demand for puree is increasing in the juice industry. A surge in the use of purees in juices will lead to a corresponding growth in the demand for purees. Such an increase in business will positively influence the puree industry. Many types of purees, such as mango puree, strawberry puree, passion fruit puree, apple puree, and others, are used in producing fruit juices.
Many companies in North America and Europe are launching smoothie and juice products prepared from purees in powder form, with added minerals and nutrients. These companies are selling these products directly to their customers. Purees also have various food and beverage applications, which will increase the significance of these products in households. In Asia Pacific, the demand for processed food products is growing with a massive increase in the growth rate. Many processed food products are created from purees, which give an edge to the puree market against fruits. People living in urban areas live a fast-paced life and tend to buy prepared food and beverage products from stores as these are both convenient and time saving. Changing lifestyle of the people is expected to create a strong market for the processed food and beverage industry and is helping the food ingredients market to grow, which includes purees such as avocado puree.
An outlook of trends governing the global food and beverages industry is important to study the nuances of the global avocado puree market
The food and beverage industry in North America is colossal and comprises and number of players in largely fragmented and multi-tiered supply chains. The industry is stringently regulated and players often have to adapt to a landscape that changes quite frequently. The primary demand drivers in North America are witnessing fast-paced evolution, as dietary habits receive emphasis, especially among consumers who scour every label to read the ingredients. Although mergers and acquisitions have been a staple in the food and beverage industry, uncertainties in political climate in Europe and America lead to a slowdown in 2016. As there is more clarity on the U.S. Presidential election and Brexit, the pace of mergers and acquisitions is likely to pick up.
The evolving tastes and preferences of consumers are not lost on manufacturers, as offerings have been broadened to accommodate organic and natural food products. Many established players are focusing in acquiring smaller companies which have the expertise and reputation of being pros in specific organic and natural domains. These smaller companies have deep brad loyalty, and owing to the small scale of production, it is much easier for them to come up with innovative products. These factors, combined with increasing emphasis on organic and natural, are likely to make smaller companies attractive targets for mergers and acquisitions.
In Europe, notable developments that the food and beverage industry needs to lookout for are stricter monitoring of unfair trade practices (UTPs) by the European Commission (EC). Many food and beverage manufacturers are currently assessing the risk to business once Brexit comes into effect. As the timing and full impact of Brexit is still uncertain, food and beverage companies are focusing on taking preventive action to secure their business interests.
List of factors tracked in our food ingredients market reports_bk_01_01_2020
In the food ingredients sub-domain, the following factors have been tracked.
PMR utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any. In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.
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In this phase, PMR validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data Analysis and Projection
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports_bk_01_01_2020, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.
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