Pune, India, December 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Post-Harvest Treatment Products Market for Fruits & Vegetables.
Global Post-Harvest Treatment Products Market for Fruits & Vegetables is projected to register a CAGR of 6.31% and reach USD 2,639.22 Million by 2026. The global market is fragmented with the presence of several players across the globe. There is a high level of competition among the market players in terms of product quality and variety. The growing demand for food supply across the globe provides an opportunity for the players to emphasize innovation and product quality and expand their customer base. Moreover, there is a growing number of molecules and active ingredients going off-patent, which is boosting competition in the market. Thus, the manufacturers are focusing on introducing new and innovative products and various strategic expansion plans across the globe to survive in the competitive market. The players are focused on investing in research and development and adopting strategic growth initiatives such as acquisitions, product launches, partnerships, collaborations, and expansions to strengthen their market position and capture a large customer base.
The global post-harvest treatment products market for fruits and vegetables has been segmented based on type, application, and region.
Based on type, the global has been divided into cleaners, coatings/wax, ethylene blockers, fungicides, sprout inhibitors, and others. The coatings/wax segment accounted for the largest market share in 2019 and is expected to exhibit the highest CAGR during the review period. Coatings/wax applied to fruits and vegetables as part of the post-harvest treatment to extend the post-harvest life of fruits & vegetables are edible. They act as a barrier for moisture and gases during processing, handling, and storage. These coatings are specially formulated to help minimize moisture loss and maximize flavor preservation while maintaining a fresh, natural appearance and high shine of fruits & vegetables throughout the supply chain. Product innovation in this segment with manufacturers highly focusing on biodegradable, non-toxic, and organic coatings/wax for fruits & manufacturers is projected to drive the growth of this segment across the globe.
By application, the market has been segregated into fruits and vegetables. The fruits segment is further segmented into pomes, bananas, berries, citrus fruits, mangoes, and others. The vegetables segment is also further segmented into potatoes, tomatoes, onions, and others. The fruits segment accounted for a larger market share in 2019 and is expected to exhibit a higher CAGR during the review period. With the increasing demand for fruits in retail and processing industries, the need for a high and quality yield of fruits is of greater significance. Thus, the need for post-harvest treatment products in fruits is rising. Rising demand for exotic fruits across the globe has increased the trade of fruits, demanding longer shelf life and maintenance of fruit quality until it reaches the consumers. Also, the rising demand for fruits in various application industries, such as food, beverages, cosmetics, and personal hygiene products, is influencing the high production of fruits, which drives the market growth in this segment.
Geographically, the global post-harvest treatment products market for fruits and vegetables has been categorized as North America, Europe, Asia-Pacific, the Middle East, and Africa. As per MRFR analysis, Asia-Pacific dominated the market, accounting for the largest share in 2019. The region accounted for a 32.76% share of the market in 2019. However, Latin America is expected to register the highest CAGR of 7.03% during the forecast period 2020-2026. South America is the largest market in the region, contributing to its growth.
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Market Research Future recognizes Pace International, LLC (US), Bayer AG (Germany), Syngenta AG (Switzerland), AgroFresh (US), JBT Corporation (US), Nufarm (Australia), DuPont de Nemours, Inc. (US), FMC Corporation (US), Futureco Bioscience S.A. (Spain), and Post-Harvest Solution Ltd (New Zealand) as the Key Players in the Global Post-Harvest Treatment Products Market for Fruits and Vegetables.
Key Findings of the Study