Press release from Business Wire India
Source: Frost & Sullivan
Thursday, September 20, 2012 12:06 PM IST (06:36 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Accounting & management consultancy services, Agriculture, Business services, Major diversified industrial groups, Retailers; Technology; Healthcare
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Innovation Typifies the Emerging Indian Fruits and Vegetable Extracts Market, finds Frost & Sullivan
New and favorable government policies accelerate the market's growth
Mumbai, Maharashtra, India, Thursday, September 20, 2012 -- (Business Wire India) -- The Indian fruit and vegetable extracts market has been picking up steam over the last three to four years due to rapidly evolving product types and consumer preferences. Indians' increasing desire for health and wellness and their rising awareness about the functionality of food and beverage ingredients have compelled manufacturers to innovate and offer a wider variety of product variants.
New analysis from Frost & Sullivan ( http://www.food.frost.com ), Analysis of the Fruit and Vegetable Extracts Market, finds that the market earned revenues of $400.5 million in 2011 and estimates this to reach $690.5 million in 2017.
The high health consciousness consumer has already caused several beverage manufacturers to switch from aerated beverages to fruit juice-based beverages.
"Further, manufacturers are conducting trials to derive fruit pulp, purées, and juices from seasonal fruits and store them for future use," said Frost & Sullivan Research Analyst. "They are striving to make seasonal fruit products available throughout the year."
Additionally, the boom in the Indian retail industry has benefited the Indian food processing industry, which, in turn, has boosted the Indian fruit and vegetable extract market.
Although manufacturers are innovating, the market will not see explosive growth over the next five years, as the lack of variety in products and insufficient infrastructure to minimize agricultural wastage will peg back the market. The limited availability of varieties suitable for processing reduces processing units as well as volumes and hikes processing costs.
The existing raw material storage systems are highly inadequate to meet the growth in production of fruit and vegetable extracts. The heavy post-harvest loss of fruit and vegetable produce affects the availability, reliability and price of these products.
However, despite the difficulty in procuring raw materials, manufacturers are creating distinct methodologies to keep the supply and prices stable. The current trend of backward integration process will also help mitigate the issues of inconsistent raw material quality and product availability.
The market will get a leg up from favorable trade policies and the government's focus on the agro-based sectors. The government intends to open 30 mega food parks towards the end of 2012. Fruit and vegetable processing units are completely exempt from taxes, while the fruit and vegetable processing industry will receive top priority for bank lending activities.
"The Government plans to generate world-class infrastructure for growth through food parks, integrated cold chain, and modernization in the next five years," noted the Analyst. "Its "Vision 2015" aims to triple the size of the processed food sector, providing additional impetus to this promising market."
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an e-mail to Ravinder Kaur/ Priya George, Corporate Communications, at ravinder.kaur@frost.com/ priyag@frost.com with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by e-mail.
Analysis of the Fruit and Vegetable Extracts Market is part of the Food and Beverage Ingredients Growth Partnership Services program, which also includes research in the following markets: flavors, health ingredients, and animal feed additives, among others. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Analysis of the Fruit and Vegetable Extracts Market
P54A-88
CONTACT DETAILS
Ravinder Kaur, Corporate Communications - South Asia, Frost & Sullivan, +91 9940141714/+91 (44) 66814080, ravinder.kaur@frost.com
Priya George, Corporate Communications - South Asia, Frost & Sullivan, +91 9840355432/+91 (44) 66814456, priyag@frost.com
Nimisha Iyer, Corporate Communications - South Asia & Middle East, Frost & Sullivan, +91 9820050519/+91 (22) 66072004, niyer@frost.com
KEYWORDS
CONSUMER, ECONOMY, PEOPLE, CONSULTANCY SERVICES, AGRICULTURE, BUSINESS SERVICES, GROUPS, RETAIL, TECHNOLOGY, HEALTHCARE
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