Global Processed Mango Products Market 2020 (Includes Business Impact of COVID-19)

                                          
Global Processed Mango Products Market was valued at US$ XX Mn in 2018 and is projected to reach a value of US$ XX Mn in 2028. The global processed mango products market is projected to register a substantial CAGR of XX% over the forecast period. The global processed mango products market report has been segmented on the basis of product type, distribution channel, and region.

Request Covid - 19 Impact


Product Overview

Mango is a sweet and juicy fruit which is mostly grown in tropical areas such as in India. Traditionally mangoes were consumed fresh and liked by most of the population regardless of age and gender due to its flavor and freshness, and aroma. However, various food processing companies are currently making mango-based packed juices, pulps, chocolates, sweets, powder mixes, etc. Mangoes are being used as a base of various processed food products to integrate original flavor and aroma into ready-to-use food products. Some of the available processed mango products include mango pulp, dried mango, mango puree, mango concentrate, and IQF slices & dices, that are called as primary processed mango products. Whereas, secondary processed mango products include juice, pickles, fruit bar & candies, jam, squash, baked products, jelly, and yogurt, among others.

Market Drivers and Growth Challenges

Some of the major factors expected to drive growth of the global processed mango products market are rising demand for mango-based or mango-flavored products from various countries in North America and Europe regions. Shifting preference from citrus-based oranges and sweet limes to sweeter fruits and based products is ongoing trend in various western countries.

Increasing awareness regarding health benefits of mangoes is another factor expected to drive demand for processed mango products to a great extent. Mangoes are low-calorie fruit and have high fiber content. In addition, they contain B6, and small contents of vitamin E, zinc and calcium.  Mangoes are considered to be good source of vitamin A and vitamin C, and have antioxidant property. Moreover, rising demand for processed food, especially among children, and need for them to intake food of high nutritional value is expected to drive growth of the target market.

However, mangoes require tropical climate to grow, hence cannot be grown everywhere and cannot be grown all the time of the year. In addition, fluctuating climatic conditions results in fluctuating prices of mangoes. Moreover, cultivators do not provide mangoes at a standard cost, and stop supplying when the cost is low.  These Aforementioned factors could result in low-profit margins for food processing industry, and inability to meet substantially high demand for processed mango products.

Opportunities and Trends

Increasing initiatives by major players and government for cultivation of large number of mango trees is expected to create lucrative opportunities for players in the target market. For instance, Coca-Cola launched a project – Unnati – with Jain Irrigations in 2012, and planted nearly 650 saplings to increase mango yields. This project was further upgraded in 2014 by investing additional capital by Hindustan Coca-Cola Beverages Pvt. Ltd. (HCCBPL).

Adoption of ultra-high density planting technology for large number of mango yields in order to maintain supply and demand ratio can create opportunities for cultivators as well food processing players. According to reports, adoption of Ultra High Density Plantation (UHDP) under Project Unnati is expected to provide yields of nearly 300K MT fruits by 2022–2023.

Ongoing trend in the market is that consumers are demanding for organic mango-based products in order to avoid chemicals and any related health issues in the long run.

Segment Analysis

By Product Type:

Among the product type segments, the secondary processed mango products segment is expected to contribute major revenue share, owing to increasing demand for secondary processed mango products such as jams, jellies, candies, etc. The primary processed mango products segment is projected to register highest CAGR over the next 10 years. This can be attributed to ever-increasing adoption of mango pulp, frozen diced mangoes and slices for making sweets at restaurants, fast food joints or at home.

By Distribution Channel:

Among the distribution channel segments, the online segment is projected to witness highest growth rate in terms of revenue over the next 10 years, owing to shifting preference of processed mango product manufacturers to make their products visible to large number of customers. Online shopping provides several offers and features to consumers such as ease of purchase, reviews about products, online transactions, hassle-free returns in case the product is damaged or have crossed expiration date.

Region Analysis

The Asia Pacific market is estimated to account for major revenue share as compared to that of other regional markets, owing to presence of large number of prominent players in countries in the region. In addition, countries such as India is one of the largest cultivators of mangoes, which offers added advantage to processed mango product companies to manufacture primary and secondary processed mango products and export to other country markets.

North America market and Europe market are expected to register faster growth as compared to Latin America and Middle East & Africa market.

Global Processed Mango Products Market Segmentation:

Segmentation by Product Type:

Primary Processed Mango Product
Secondary Processed Mango Product

Segmentation by Distribution channel:

Online
Offline