Red
Fruits & Berries to remain king throughout the forecast period
The
red fruits & berries segment is anticipated to retain its
dominance in the global frozen fruits market throughout the study
period ending 2016 – 2022. The red fruits & berries segment by
fruit type is expected to reach around 53% market value share in
2022.Even though red fruits & berries is already the largest
segment, it should still record a substantial CAGR of 4.8% in terms
of value during the period of assessment. At the end of the year
2015, the red fruits & berries segment was valued at just over
US$ 965 Mn and this is predicted to rise to above US$ 1.3 Bn by the
end of the forecast period. An absolute dollar opportunity of more
than US$ 67 Mn can potentially be exploited in the red fruits &
berries segment in the year 2022 over 2021 making it too large and
lucrative for any stakeholder in the global
frozen fruits market to ignore. In terms of volume, the red
fruits & berries segment was pegged at almost 849 thousand tons
in the year 2015, and this is widely anticipated to grow to above
1000 tons by the end of the year 2022. The CAGR for the red fruits &
berries segment in terms of volume is 3.7% over the forecast period.
Banana
and Watermelon show the greatest CAGR potential in value terms
For
the period 2016-2022, the Banana sub segment is expected to grow from
a market value of under US$ 77 Mn in the year 2016 to almost US$ 107
Mn in the year 2022 with a significant CAGR of 5.6%. The Watermelon
sub segment is also anticipated to record a similar CAGR of 5.6% that
will allow it to jump from a market value of slightly under US$ 61 Mn
in 2016 to over US$ 84 Mn at the end of the forecast period. It seems
quite unlikely though that either the Banana or the Watermelon sub
segments will be able to surpass the Strawberry sub segment in value
terms as the latter was already worth more than US$ 400 Mn in the
year 2016 itself.
Strawberry
is the most lucrative sub segment in terms of volume
With
respect to consumption, the Strawberry sub segment is anticipated to
record the highest CAGR of 3.9% in terms of volume. From a volume of
slightly under 351,000 tons in 2016, the Strawberry sub segment is
predicted to rise to above 441,000 tons by the end of the year 2022.
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Red
Fruits & Berries segment to register the highest CAGR in the Asia
Pacific frozen fruits market
With
respect to revenue contribution, the red fruits & berries segment
in the Asia Pacific frozen fruits market is predicted to grow at a
robust CAGR of 6.4% for the duration of the study. This will allow
the red fruits & berries segment to reach a market value of
nearly US$ 95 Mn in the Asia Pacific frozen fruits market by the end
of the year 2022 from just under US$ 65 Mn in 2016. The red fruits &
berries segment in the North America frozen fruits market was already
worth a little more than US$ 376 Mn in 2016, and should jump to more
than half a billion dollars by the end of the forecast period, with a
value CAGR of 5.3%.
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