Global Strawberry Powder Market 2020 (Includes Business Impact of COVID-19)

                                          
Global Strawberry Powder Market was valued at US$ X Mn in 2018 and is projected to be valued at US$ X Mn in 2028. The target market report focuses on factors contributing to growth of the market, and restraints as well. The dynamics section also includes trends and opportunities for existing players and for investors planning to venture into the market. Facts and figures provided by authentic sources have been included in the report in terms of revenue and growth rate of the global market and at regional and country levels. In addition, detailed information regarding key companies has also been provided in the final report. In order to present demand and supply analysis and buyer and seller trends, and impact of factors such as political, economic, social and technological on the target market; PEST analysis and Porters Five forces analysis have been presented in the finished report. The global strawberry powder market report is divided on the basis of source type, application, distribution channel, and region/ country.

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Global Strawberry Powder Market: Overview

Strawberry, or Fragaria ananassa, is hybrid of genus of Fragaria and is widely cultivated at global level. Strawberry and related products such as strawberry powder are an excellent source of antioxidants, vitamin C, and dietary fibers. The powder can enhance a naturally sweet strawberry flavor in a variety of foods and drinks. It is widely used in food industry due to its characteristics such as bright red color, aroma, sweetness, and refreshing juicy flavor.

Global Strawberry Powder Market: Dynamics

High demand for strawberry for consumption of fresh strawberries or for preparing various foods and beverages including juices, pies, ice creams, chocolates, milkshakes, and baked products such as strawberry biscuits, and various desserts is one of the major factors driving market growth. Other than used in the aforementioned foods and juices, dried strawberries are used in production of cereal bars, frozen and packed for preservation, and added with muesli or cornflakes. Increasing awareness about various health benefits associated with a strawberry powder such as helps to boost the immune system, ability to increase bone health, among others is a major factor projected to boost growth of the global market. In addition, increasing use of strawberry powder in cosmetic industries owing to its anti-oxidant properties which act as anti-pigmentation and anti-aging substances is another factor projected to drive growth of the global market in the upcoming years. Changing lifestyle of consumers and increasing preference for ready-to-eat food products are other factors projected to drive revenue growth of the global market. Moreover, growing demand for strawberry powder as an ingredient in production of various tablets and capsules in the pharmaceutical industry in developing and developed countries is another factor driving the growth of the global market.

However, the presence of pesticides and chemicals in strawberry produced due to modern-day farming techniques is a major factor expected to limit growth of the target market.

Cultivation and production of strawberries using organic or natural pesticides and organic approach of growing fruits are projected to create revenue opportunities for players in the global market.

Global Strawberry Powder Market: Segment Analysis

Source Segment Insights:

Among the source segments, the conventional segment is estimated to contribute significantly high revenue share in the global market owing to cost-effectiveness and easy availability in supermarkets, hypermarkets, and retail stores. Revenue from the organic segment is projected to grow at a higher growth rate in the target market. Growing consumer preference for organic food products, especially among health-conscious people is projected to support growth of the organic segment.

Application Segment Insights:

Among the application segments, the food & beverage segment is projected to record the highest share in terms of value in the target market. Increasing usage of strawberry powder in production of various food products is projected to support growth of the segment. The nutraceuticals segment is estimated to record moderately higher growth rates in terms of value due to high demand for nutraceuticals from the recent past in developed as well as developing countries.

Sales Channel Segment Insights:

Among the sales channel segments, the supermarkets/ hypermarkets segment is expected to record a substantially higher share in terms of value in the global market as it enables one-stop-shop to customers. The online sales channel is projected to witness higher growth rate as compared to other channels due to high preference for ordering groceries online and various discounts offered by m-commerce and e-commerce websites.

Global Strawberry Powder Market: Region Analysis

The market in Europe is estimated to record considerably higher share in terms of value in the target market. In northern part of Europe, a wide variety of Junebearers or short-day plants that hibernate in cold season are extensively grown. These include Sonata, Elsanta, Malling Centenary, and Clery. Whereas in South Europe, Dayneutral and Everbearer varieties are common and widely cultivated. In addition, cultivators in the countries in Europe are focusing on adopting advanced technologies in order to obtain high yield of strawberry production. This is key factor driving Europe market growth. Various players in the market are using approaches such as protected horticulture, use substrates, glass greenhouses or plastic tunnels. This high-end technological improvement in the region has led to accomplishment of improving strawberry cultivation, early-growing, and late-season possibilities.

As a result, cultivators of strawberry farms in the region have not only gained control and high efficiency in strawberry production but also got an opportunity to extend production seasons. In Europe, Spain is among the largest producers and exporters of strawberries with wide variety such as Fortuna, Camarosa, Candonga, and Sabrina. The Asia Pacific (APAC) strawberry powder market is projected to register the highest revenue growth in the global market over the 10-year forecast period. Increasing demand for strawberry powder from the food & beverage industry in the countries in this region is projected to fuel growth of the strawberry powder market in the Asia Pacific. In addition, increasing adoption of strawberry powder in cosmetics products in countries such as India, Japan, and China is projected to augment growth of the APAC market. North America strawberry powder market is projected to register significant growth rate in the global strawberry powder market in the next 10 years. High production of strawberries, rapid adoption of strawberry powder and growing awareness about health benefits associated with this powder in the countries in the region are factors projected to augment growth of the North America market. For instance, as per a report published by the Agricultural Marketing Resource Center, in 2017, the US alone produced around 1.6 Bn pounds of strawberries, which was valued at approximately US$ 3.5 Bn. In addition, according to the report, the fresh strawberries market recorded 82% of the overall strawberry production, of around 1.3 Bn pounds. Latin America, and Middle East & Africa are anticipated to register average growth in the global strawberry powder market. The increasing popularity of strawberry powder associated with nutritional benefits among individuals in countries in these regions is a major factor driving market growth in these regional markets.

Global Strawberry Powder Market Segmentation:

Segmentation by Source Type: 

  
Organic
  
Conventional

Segmentation by Application:

  
Cosmetics
  
Food & beverage
  
Pharmaceuticals
  
Nutraceuticals

Segmentation by Sales Channel:

  
Supermarkets/ Hypermarkets
  
Convenience Stores
  
Independent Retailers
  
Online Sales
  
Others