Spinach is considered one of the greatest superfoods as it contains nutrients in high amounts. However, as it contains a large amount of moisture, due to which it is likely to lose its texture and taste. To enhance its shelf life, it is dehydrated and processed into powder form, which makes its storage and transportation easier and more economical.
Spinach powder is gaining popularity around the world owing to its unique nutritional content. It is rich in flavonoids & carotenoids, and does not contain any fat. In the global fruit and vegetable powder market, the demand of spinach powder is increasing due to the richness of its anti-oxidants and antimicrobial activity. In the global fruit and vegetable powder market, majority of the demand for spinach powder comes from North America and Europe. Due to the high demand for spinach powder, investors are expected to witness higher returns in the near future.
Growing Demand for Spinach Powder in the Food and Beverage Industry:
In the global spinach powder market, the demand from households is increasing owing to the unique nutritional content of spinach powder, which includes carotenoids, folic acid, vitamins and minerals. In addition, spinach leaves have anti-carcinogenic, antimicrobial and antioxidant properties, which make spinach powder a unique food product. In the global powdered vegetable market, the demand for spinach powder is increasing at a lucrative rate in the food and beverage industry. In the food and beverage industry, this powder is mixed with other food products to enhance their nutritional content. Moreover, spinach powder is used in place of artificial food colour as the demand for natural pigments in processed food products is increasing. The antioxidant, anti-carcinogenic, antimicrobial and anti-aging properties of spinach powder are encouraging health conscious customers to include it in their diet plan. Apart from the various factors mentioned above, increasing awareness about the health benefits of spinach are also expected to boost the consumption of spinach powder in the near future.
Global Spinach Powder: Market Segmentation
On the basis of nature, the global spinach powder market has been segmented as-
On the basis of form, the global spinach powder market has been segmented as-
On the basis of the distribution channel, the global spinach powder market has been segmented as-
- Store-Based Retailing
- Grocery Retailers
- Modern Grocery Retailers
- Convenience Stores
- Traditional Grocery Retailers
- Food Specialist
- Independent Small Grocers
- Other Grocery Retailers
- Online Retailing
On the basis of end use, the global spinach powder market has been segmented as-
- Food processing
- Dietary Supplement
Global Spinach Powder: Key Players
Some of the key players operating in the global market are Synergized Ingredients, Raab Vitalfood GmbH, Woodland Foods, PentaPure Foods, Saipro Biotech Private Limited, FutureCeuticals, LYO FOOD GmbH, Chaucer Foods Ltd., Mercer Foods LLC and Seawind Foods. An increasing number of food industry players are showing a keen interest in introducing spinach powder in their product portfolio, which is expected to boost the demand for the same during the forecast period.
Opportunities for market participants:-
In the global market, the demand of spinach powder is increasing for use in food and beverage products as it is gluten free. Moreover, increase in the demand for nutraceuticals and dietary supplements is leading to an increase in investments as well as the establishment of new food industries. Changing food preferences from non-vegan to vegan food is generating the demand for vegan food products that have a higher nutritional value. In addition, spinach powder has the potential to fulfil the demands of health-conscious customers who seek food products that have lower calories, more fibre and high nutritional value.
Global Spinach Powder: A Regional Outlook:-
North America is the highest consumer of processed food, and companies such as Synergized Ingredients, Woodland Foods, FutureCeuticals, etc. are present in the region. Thus, the demand for spinach powder is expected to increase during the forecast period. The Asia Pacific region is likely to witness a robust growth rate during the forecast period owing to an increase in the fitness-conscious population, growth in the food industries and the easy availability of spinach powder due to the local presence of key players. The demand for spinach powder is increasing in the European region owing to an increase in the consumption of the same. Growth in awareness about the health benefits of spinach as well as urbanisation in the Middle Eastern and African countries is expected to increase the establishment of food companies in these regions during the forecast period, which is, in turn, expected to boost the market in these regions.
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
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- 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
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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.
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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?
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10. What will be the barrier to entry for new players in the market?
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