Guanabana Market Competitive Scenario, Drivers And Challenges Analysis Forecast
Guanabana Market: Introduction
The latest market report published by Transparency Market Research on the guanabana market includes global industry analysis and opportunity assessment for 2019-2027. Revenue generated from the global guanabana market was estimated to be valued at ~US$ 150 Mn in 2019, which is projected to rise at a CAGR of ~11%, to reach US$ 350 Mn by 2027.
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Guanabana is considered as one of the minor crops but is gaining popularity due to its increasing economic uses. Guanabana is a nutritious fruit rich in calcium, phosphorous and ascorbic acid. Guanabana is in high demand in processing industry especially in producing beverages, flavoring ice cream, candies, jam, jelly and others.
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Rising Demand for Plant-based and Vegan Food Products
The growing concern and interest of people in ethics, health and sustainability has led to the rise of vegetarian lifestyle, vegan products, and plant-based diets. This has in turn fuelled the demand for vegan food products. The demand for these products will continue to grow through the forecast period. Plant-derived ingredients and products are in high demand on platforms such as plant derived fibers, plant proteins, herbs, non-alcoholic drinks, sweeteners, herbs, seasoning, and coloring foodstuffs. This vegan food trend will encourage the use of guanabana as ingredient in many food and beverages to the 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 to gain considerable traction in the coming years. Alcoholic beverages such as beer, Breezer and others are in high demand, especially the flavored ones such as cranberry, blueberry, cherry, and guanabana. The rising demand for flavored drink is positively impacting the market of guanabana. Furthermore, “Fruit-in Beer” is supplementary of other strong alcoholic beverages. It is mostly preferred 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 to stringent laws imposed on drinking alcohol is also one of the leading factors influencing the guanabana market growth.
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Manufacturers to Benefit from Catering to Numerous End-use Industries
Guanabana is a tropical fruit, which is consumed as a fresh pulp or fruit 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/ retail and cosmetic & personal care industries. The increasing applications of guanabana in different industries create lucrative opportunities for manufacturers.
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Consumers Actively Consider Sustainability Aspects
While purchasing perishable goods, consumers actively consider sustainability aspects, which is one of the major factors hindering the growth of the guanabana market. Guanabana is perishable and have a short shelf-life, which makes them highly unsuitable for export and import. Most of the time guanabana is fated to waste or fed to the livestock. However, if it was possible for the local farmers, wasted guanabana could be converted into high value added products such as favorable drink. To achieve this goal, farmers need to be empowered by manufacturers. For instance, farmers can be provided with upgraded technology for processing guanabana and can be introduced to business models, operational plan, marketing strategies and value chain of the guanabana market. This move will diversify a farmer’s business and increase their income.
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