Global Passion Fruit Extract Market: Overview
The demand within the global passion fruit extract market is set to reach unprecedented heights in the years to follow. The use of passion fruit in the beverages industry has played a vital role in the growth of the global market. A range of new flavours for fruit juices and soft drinks have made their way into the market over the past decade. Consumers have reciprocated to the wide choice of beverages available in the market through increased spending. Therefore, the availability of new flavours of fruit juices, such as passion fruit, has played to the advantage of the beverages industry. Henceforth, the global passion fruit extract market is poised to attract increased investments in the years to follow.
Transparency Market Research (TMR), in a custom review, unravels a wide purview of factor responsible for market growth. The global passion fruit extract market can be segmented on the basis of application and region. The use of this extract for skin rejuvenation treatments has gathered momentum in recent times.
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Global Passion Fruit Extract Market: Notable Developments
- Stassen Exports Private Limited is a renowned tea producer from Sri Lanka. The company is expanding its operations by venturing into the Chinese market through the sale of Ceylon tea. Entry into the Chinese market is expected to be a source of fresh revenues for the Sri Lankan vendor. This move is also expected to drive demand within the global passion fruit extract market, majorly because of the popularity of Stassen’s passion fruit tea flavour.
- Several cosmetic brands use passion fruit extract to manufacture organic products. The growing demand for improved beauty-care products and services has generated humongous revenues in the global passion fruit extract market. Moreover, passion fruit protein bars have also emerged as a key product on the portfolio of market vendors.
Some of the key vendors operating in the global passion fruit extract market are:
- Dennick Fruitsource
- Passi AG (Concentra Holding AG)
- Making Cosmetics Inc.
- Caribbean Natural Products, Inc.
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Global Passion Fruit Extract Market: Growth Drivers
- Health Benefits of Passion Fruit
The exotic nature and sapid taste of passion fruit has led to its popularity, especially amongst the high-income groups of the society. Furthermore, increasing demand for tart-flavoured fruit juices and drinks has generated fresh demand for passion fruit extract. The health benefits of passion fruit extract are also a key consideration from the perspective of market growth. It is rich in vitamin-C, and can be extremely beneficial for growing children.
Furthermore, the presence of alpha-carotene and beta-cryptoxanthin in passion fruit helps in boosting the immunity of the human body. Medical practitioners recommend consuming passion fruit in order to increase the haemoglobin content in red blood cells. Considering the health benefits stated above, it is legit to ameliorate that the global passion fruit market would expand in size in the coming years.
- Increasing Demand for Lychee and Pitaya
Sale of passion fruit extract is closely related to the increasing demand for fruits such as sweet granadilla, pitaya, and lychee. The associative demand for each of the aforementioned fruits has created a wide pool of opportunities within global markets. Exporters of lychee and pitaya are finding new ways of venturing into the passion fruit market. This trend is expected to ease the procurement of passion fruit extract across food processing units. Moreover, increasing online popularity of passion fruit has also given a push to market growth.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.