Processed Mango Product Market

Market Synopsis:

The Global Processed Mango Product Market was valued at USD 2334.42 Million in the year 2022 and is projected to reach a value of USD 3834.52 Million by the year 2030. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.40% over the forecast period.

Mangoes are a significant and widely farmed tropical fruit that may be processed at two different stages of maturity. While ripen mangoes may be processed into purée, canned and frozen slices, juices, and other similar goods, unripe mangoes are used to make cuisine items like chutney, pickles, curries, and dried products. The market for processed mango products is anticipated to grow as consumers worldwide become more familiar with mangoes and their products. In addition, demand for food and drinks made with natural ingredients has increased due to rising disposable income among urban residents and rising health consciousness among customers.

The market demand has been fuelled by the growing popularity of using processed mango to make drinks, squash, and other confectionery goods. Additionally, customers are expressing a stronger preference for baked goods with natural tastes over those made with artificial additives. The market for processed mango products has grown due to this demand from the bread sector. But when the price of mangoes fluctuates, the cost of its final goods also shifts, breeds uncertainty. This aspect will likely slow the market's expansion for processed mango products.

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Drinks with mango taste, such as Frooti and Maaza, are anticipated to develop significantly throughout the projected period. Mango pulp is one of the main flavoring elements needed for these drinks. The demand for mango pulp is driven by producers like Coca-Cola, PepsiCo, and Nestle, who are also taking steps to increase mango output. To increase yields, Coca-Cola has established a program with Jain Irrigations, a significant participant in the Indian market for processed mango products. The demand for primary processed mango products like mango pulp and individually quick frozen (IQF) mango is anticipated to increase due to such activities. High-quality processed mango products have significant export potential to wealthy nations. The manufacturers may see this as a chance to expand their markets.

Market Segmentation:

The Processed Mango Product market is segmented based on Product Type, Fruit Type, Price, End-User, Distribution Channel, and Region. Based on Product Type, the market is sub-categorized into Primary Processed Mango Products, Secondary Processed Mango Products, and Other Products (e.g., Squash, Jam, Jellies, Nectar). Furthermore, based on Fruit Type, the market is sub-segmented into Semi-Ripe Fruit and Ripe fruit. In addition, based on the segment End-User, the market is sub-segmented as Residential and Commercial. Furthermore, based on the Price segment, the market is sub-segmented into Low, Medium, and High. Finally, based on the Distribution Channel segment, the market is further sub-segmented as Online and Offline.

Based on Product Type:

Based on the segment Product Type, the market is sub-segmented into Primary Processed Mango Products, Secondary Processed Mango Products, and Other Products (e.g., Squash, Jam, Jellies, Nectar). Secondary Processed Mango Product sub-segment held the largest market share during the forecast period. Juices, fruit bars and sweets, jellies, jams, pickles, and fruit-based cosmetics using fruit extracts are essential Secondary Processed Mango Product products. Major beverage producers have created mango-based beverages to diversify their product lines. Manufacturers also provide powder mixes or squashes that may combined with milk or water to make refreshment drinks in addition to ready-to-drink beverages. Additionally, raw mangoes make pickles and chutneys, among other condiments. Due to their flavor and longer shelf life, these items are growing in popularity and helping the category expand.

Based on Distribution Channel:

Based on the segment Distribution Channel, the market is sub-segmented as Online and Offline. The Online distribution channel segment is expected to witness the highest Compound Annual Growth Rate (CAGR) during the forecast period. The development of Online grocery stores like Amazon Pantry has increased total food and beverage industry sales through online sales. Additionally, as mango is only grown during a particular season, producers are concentrating on offering dried and Individual Quick Freezing (IQF) choices year-round via online channels, which is anticipated to be favorable for the segment's growth. Furthermore, beverage makers are encouraged by the development of digital media to concentrate on marketing efforts on their websites and social networking platforms. Additionally, e-commerce platforms like Amazon and Flipkart, among others, offer the choice of user reviews and comments, aiding customers in the decision-making process.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific dominated the market and grew at the highest Compound Annual Growth Rate (CAGR) in the recent period. During the predicted period from 2022-2028, Asia Pacific is accounted to grow and hold its position as the largest market share. India and China, the world's leading fruit producers, accounted for most worldwide sales. India leads the market in both production and exports, with more than 45% of the world's mango production. The regional demand is also fueled by the arrival of international businesses like Capricorn and Jain Irrigations. In addition to South America, the Middle East & Africa region is expected to grow steadily during the forecast period. South Africa is likely to account for a critical share of the demand. The processed mango market in North America and Europe is expected to grow gradually.

Competitive Landscape:

The key players in the Global Processed Mango Product Market include Beteiligungs-AG, ABC Fruits, Capricorn Food Products India Ltd., Del Monte Foods Inc., Dohler GmbH, Freshtrop Fruits Limited, FPD Food International Inc., Freshmax Group, SFI LLC., Sunrisenaturals.in and others.

Segmentation of the Global Processed Mango Product Market: