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Plum is a fruit which belongs to the genus-Prunus and can be clustered along with other fruits such as peaches, cherries, and apricots in the rose family. The prime characteristics which differentiate all these fruits into different subgenera are the orientation of shoots, leaves, and flowers. The taxonomists have approximated the number of existing species of plum to be between 19 and 40. From this diversity, only two species, namely the European plum (Prunus domestica) and the Japanese plum or Japanese apricot (Prunus mume) are of worldwide commercial significance and have gained major popularity amongst people. Prior to when plums started to be consumed as a fruit, they were used for medicinal purposes in ancient China. When it comes to making an extract or a concentrated juice out of plums, the dried Japanese plums which also goes by the name of Umeboshi or when translated into English: Japanese salted plums or pickled plums. The Umeboshi plums are made by the lactic fermentation process using Japanese plums, shiso leaves, and sea salt. Although on the backdrop of exceeding demand of the extract, the companies may or may not use artificial dyes or preservatives.

Segmentation:-

The plum extract has gained widespread popularity as a product itself amongst consumers as well as an ingredient among the manufacturers thereby making it a successful B2B and B2C product. The plum extract market can be segmented on the basis of application, form, product type and distribution channels. On the basis of application, the plum extract market can be segmented into culinary, nutraceuticals, foods & beverages, cosmetics as well as confectionary. On the basis of form, the plum extract market can be segmented into liquid, paste, powder as well as solid. On the basis of the product type, the plum extract market can be segmented into natural, organic as well as artificial. On the basis of distribution channels, the plum extract market can be segmented into online retailing, specialty stores, hypermarkets/supermarkets and convenience stores.

Global market drivers and trends:-

The plum extract is a reservoir of natural minerals such as sodium, magnesium, iron, phosphorous and potassium owing to its support in dealing with a vast number of issues such as obesity, diabetes, Osteoporosis, constipation, Alcohol poisoning, age-related cognitive impairment, atherosclerosis, cancer, hypercholesterolemia, hyperlipidemia, weight loss, anemia, anxiety, influenza, muscular degeneration and others.

The plum extract market is gaining widespread recognition owing not only to its medicinal properties but also of its culinary application such as using the plum extract as dressings, dips, and marinades. The salty and sour properties of Umeboshi plum extract make it an excellent accompaniment to rice dishes. Furthermore, vinegar can also be made from the plum extract owing to the presence of a considerable amount of citric acid in it. The plum extract can also be added to jams, puddings and jellies. The plum extract is also visible to be employed in the preparation of alcoholic beverages. Moreover, the plum extract concentrate works deliciously well as a filling for candies and confectionery products.

Regional outlook: -

The leading countries in terms of the manufacture and export of plum extract are the ones belonging to Europe viz. Spain, France, Italy followed by the Asian countries like China, Korea, Japan, Hong Kong and others.  Significant production of the plum extract is noticeable in countries like Australia, Germany, United States of America as well as Netherlands.

Market Key players:-

Some of the key players who are driving the plum extract market globally are Swanson Health Products, Hong SsangRi, HUZHOU N.B.C. BIOLOGICAL MATERIAL CO, LTD., MUSO co., Ltd., NATIVE EXTRACTS, MIKI Corporation and others.

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
  • Europe
  • 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.

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Plum Extract Market