Persistence Market Research
Passion fruit is a tropical fruit and is found in countries such as Brazil, Ecuador, Peru and Columbia. Passion fruit addresses consumer interest in healthy and exotic beverages. Passion fruit juice is sold to juice manufacturers and other processors as single strength aseptic juice (14-16 brix) or frozen concentrate (50 brix). Passion fruit puree is mostly used for preparation of passion fruit and mixed fruit beverages, baby food and is also growing popular in the dairy industry, with introduction of fruit yogurts and ice-creams. Tremendous growth has been observed in the demand for fruit purees including passion fruit puree in Western Europe. Demand for puree has been augmented with the rise in demand for fruit flavors and healthy food consumption. As the demand is set to increase, end-product manufacturers are willing to introduce new products with application in field of cosmetics as well.
Passion Fruit Puree Market Segmentation
Brazil is world´s largest producer and consumer of both fresh and processed passion fruit, Brazil alone accounts for over 50% of the total world production. Domestic consumption of passion fruit-based puree and the use of puree in drinks has grown significantly in the last five years. Although Brazil is the largest producer, in terms of trade Brazil’s export is very limited. Major passion fruit puree exports are concentrated in Ecuador, Columbia and Peru. With limited supply and even reduced supply of passion fruit puree, imports have reduced in countries with high demand such as the U.S., but this has only pushed more demand for the fruit at even higher prices. Europe also faced the same supply intervention but the demand has continued to grow.
Passion fruit puree is segmented on the basis of source and end use. Based on the source passion fruit puree is segmented as organic passion fruit puree and conventional passion fruit puree. Organic trends have widely picked up and has been on an exponential growth with more and more consumers demanding organic fruits and use of organic fruit by manufacturers of beverage and baby food. A positive market growth for organic fruit puree is highly likely.
On the basis of end use, passion fruit puree is segmented as; infant food, beverages, bakery & snacks, ice-cream & yoghurt, dressings and sauces and others.
Passion Fruit Puree market Global Market Trends and Market Drivers:
Measures and aid have been put forward by various government and non-government entities to tackle global hunger and food security in countries such as Kenya. This has helped horticulture, grain and dairy farmers increase their productivity and adopt sustainable methods of farming. With these initiatives the productivity has certainly increased and the exports from these regions have also picked up. Demand for passion fruit puree has witnessed significant increase but the supply of puree in not easily full-filled. With the major dependence on countries such as Ecuador and Columbia, facing crop destruction, severe droughts, torrential rainfalls and situations of less yield. Prices of puree have also witnessed fluctuation. A higher price at the beginning of year 2016 to even higher prices in the middle of year 2016. This supply shortage is considered to boot the demand of this fruit puree and more significantly increase the market value of the same.
Demand from puree is often backed by the rise in consumption of fruit purees from fast food chains. A smoothie boom in the U.S. and the Europe caused major influx in demand from companies such as McDonalds and Starbucks.
The market in U.S. and Canada is being more accustomed to the Latin American customs and trends. Food and beverages from countries such as Mexico, Brazil, Ecuador and Peru has been the major driving force for the increase in demand. With more trade coming towards these countries, more and more food (including fruits and vegetables) processing companies have invested in these region.
Passion Fruit Puree Market Key Players:
Small and medium scale manufacturers are mostly predominant in the Latin American region and constitute a large fraction of the market. Some of the key manufacturers of passion fruit puree include; Agrana Group, SVZ Industrial, Kiril Mischeff Group, Passina Products B.V., Quicornac S.A.
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