Guanabana Market: Introduction
The latest market report published by Transparency Market Research onthe guanabana market includes global industry analysis and opportunityassessment for 2019-2027. Revenue generated from theglobal guanabana market was estimated tobe valued at ~US$ 150 Mn in 2019, which is projected torise at a CAGR of ~11%, to reach US$ 350 Mn by 2027.
Guanabana is considered as one of the minor crops but is gainingpopularity due to its increasing economic uses. Guanabana is a nutritious fruitrich in calcium, phosphorous and ascorbic acid. Guanabana is in high demand inprocessing industry especially in producing beverages, flavoring ice cream,candies, jam, jelly and others.
Rising Demand for Plant-based and Vegan FoodProducts
The growing concern and interest of people in ethics, health andsustainability has led to the rise of vegetarian lifestyle, vegan products, andplant-based diets. This has in turn fuelled the demand for vegan food products.The demand for these products will continue to grow through the forecastperiod. Plant-derived ingredients and products are in high demand on platformssuch as plant derived fibers, plant proteins, herbs, non-alcoholic drinks,sweeteners, herbs, seasoning, and coloring foodstuffs. This vegan food trendwill encourage the use of guanabana as ingredient in many food and beverages tothe next extend.
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“Fruit-in Beer” a New Trend in Beverages Sector
On account of the expanding brewing industry and rapidly rising trend of“Fruit- in Beer,” in alcoholic beverages, the guanabana market is expected togain considerable traction in the coming years. Alcoholic beverages such asbeer, Breezer and others are in high demand, especially the flavored ones suchas cranberry, blueberry, cherry, and guanabana. The rising demand for flavoreddrink is positively impacting the market of guanabana. Furthermore, “Fruit-inBeer” is supplementary of other strong alcoholic beverages. It is mostlypreferred by consumers who are conscious about long-term effects of liquor.This is one of the major factors affecting the guanabana market growth.Likewise, to avoid headaches and drowsiness, consumers may prefer fruit beer.Moreover, steadily rising demand from millennial for fruit beer due tostringent laws imposed on drinking alcohol is also one of the leading factorsinfluencing the guanabana market growth.
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Manufacturers to Benefit from Catering to NumerousEnd-use Industries
Guanabana is a tropical fruit, which is consumed as a fresh pulp orfruit extract. It is commercially used to prepare juice, candy, tea, oil,sorbet and ice cream and dessert in the food and beverage industry.Additionally, it is used in pharmaceutical/ nutraceuticals, household/ retailand cosmetic & personal care industries. The increasing applications ofguanabana in different industries create lucrative opportunities formanufacturers.
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Consumers Actively Consider Sustainability Aspects
While purchasing perishable goods, consumers actively considersustainability aspects, which is one of the major factors hindering the growthof the guanabana market. Guanabana is perishable and have a short shelf-life,which makes them highly unsuitable for export and import. Most of the timeguanabana is fated to waste or fed to the livestock. However, if it waspossible for the local farmers, wasted guanabana could be converted into highvalue added products such as favorable drink. To achieve this goal, farmersneed to be empowered by manufacturers. For instance, farmers can be providedwith upgraded technology for processing guanabana and can be introduced tobusiness models, operational plan, marketing strategies and value chain of theguanabana market. This move will diversify a farmer’s business and increasetheir income.
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