The global Processed Mango Products Market is projected to reach USD 25.55 billion by 2025, according to a new report by Million Insights. The market is expected to grow at a CAGR of 6.4% over the forecast period. The rise in demand for fruit-based beverages and food products is attributing to the market growth.
The secondary processed segment held the largest market share, in 2018. Growing demand for mango made juice products is fueling the growth of this segment. Mango made juice is widely consumed in India. Owing to the growing demand for mango-based beverages, leading companies are focusing on including more such products in their offering. Coco-Cola introduced Maaza Gold, a premium mango-flavored beverage. The introduction of similar products in different regions is projected to drive market growth.
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On the other hand, the primary segment is likely to exhibit significant growth owing to the rising consumption of pulp. Various products such as juices, jams, marmalades and confectioneries are made using mango concentrates and pulp. Increasing pulp use in different food products is expected to fuel processed mango products market growth.
Among distribution channels, the online segment is expected to grow with the fastest CAGR throughout the forecast period. Growing e-commerce platforms and digital marketing are proliferating this growth. Introduction of various online grocery platforms such as Costco, Walmart and Big Basket are positively affecting the sales of these products through online platforms. Leading players are opening their own online platforms to propel online sales.
The Asia Pacific occupied the largest share, in 2018 and the region is expected to continue its dominance over the forecast period. India and China are major contributors in Asia Pacific growth. Further, the presence of major players in the region is positively affecting market growth. On the other hand, North America is expected to witness the highest CAGR over the forecast period largely because of the increasing demand for organic fruit-based beverages.
Amul introduced ‘Amul Tru’, in March 2019 with different flavors including mango, apple, orange and lychee. By introducing these products, Amul aims to compete with Mazaa and Frooti. In addition, Bisleri launched ‘Bisleri Fonzo’, a mango based beverage. Thus, the introduction of new products is expected to boost product demand over the forecast period.
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Further key findings from the report suggest:
• The primary segment is projected to grow with a CAGR of 6.9% over the forecast period. The growing use of such products in beverages and confectionaries is driving the demand.
• The offline segment held the largest processed mango products market share. This segment is expected to maintain its dominance over the forecast period.
• Asia Pacific held the largest market share, in 2018, largely because of huge production of mangoes in India.
• Middle East and Africa is anticipated to witness significant demand owing to increasing export from countries such as India, Kenya and Pakistan.
Million Insights has segmented the global processed mango products market on the basis of product type, distribution channel, and region:
Processed Mango Products Product Type Outlook (Revenue, USD Million, 2015 – 2025)
• Primary
• Secondary
Processed Mango Products Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
• Online
• Offline
Processed Mango Products Region Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• U.S.
• Europe
• Germany
• U.K
• Netherlands
• Asia Pacific
• China
• India
• Central & South America
• Middle East & Africa
• Saudi Arabia
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