Passion Fruit Concentrate Market Size, Forecast to 2027

The passion fruit concentrate market was valued at US$ 464.57 million in 2019 and is projected to reach US$ 668.83 million by 2027; it is expected to grow at a CAGR of 4.7% from 2020 to 2027.

Passion fruit is a tropical nutritious fruit that grows in warm climates. It is majorly cultivated in South America, Africa, and other regions. Passion fruit concentrate is processed from ripe passion fruit to retain the characteristic flavor and color of the whole fruit. Passion fruit concentrate is an affordable alternative to fresh passion fruits. Passion fruit concentrates have more shelf life and are convenient for consumers who do not have access to fresh passion fruits. Passion fruit concentrate offer nutrients that reduce inflammation and promote healthy skin. Moreover, it is affordable than packaged passion fruit juice and doesn’t spoil easily. As passion fruit concentrate is rich in antioxidants, which helps mop up harmful free radicals from the human body, it is gaining momentum among health conscious consumers. Additionally,  growing urbanization, changing lifestyles, hectic schedules, busy and fast life as well as rising disposable income are fueling the demand for convenience foods. Passion fruit concentrate is convenient and easy to consume as it does not require laborious peeling and cutting, thereby saving the time of consumers. Hence, the advantages offered by passion fruit concentrate coupled with its health benefits is improving its momentum among consumers, thereby amplifying the market growth.

South America is expected to grow with the highest CAGR of 5.4% during the forecast period. Passion fruit is native to subtropical regions of South America. It is commonly eaten as fresh fruit and is processed for cooking purposes in South America. The demand for passion fruit concentrate is expected to increase in the region owing to the shift of consumer’s preference toward products with health benefits. High disposable income and changing lifestyles of the growing population also boosts the demand. A shift in the eating habits, living patterns, and rising disposable income of consumers also fuels the demand for passion fruit concentrate in the South American region. The wide-scale availability of fresh passion fruit in the region fruit is another factor that bolsters the growth of passion fruit concentrate in the South American region.

COVID-19 outbreak first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the world. As of August 2020, India, China, Brazil, Italy, Iran, Spain, Republic of Korea, France, Germany, and the US are among the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are ~25,118,689 confirmed cases and ~844,312 total deaths globally. The COVID-19 outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food & beverage industry is one of the major industries that are suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns, etc. as a result of this outbreak. Due to the global pandemic crisis and the indefinite lockdown across nations, the food & beverage industry witnessed high demand for household staples, healthy food items, and food products with longer shelf lives. Owing to the fear of scarcity, the populace started to buy huge amounts of shelf stable and processed food. This panic buying has positively affected the demand for fruit concentrates. However, supply chains are facing severe challenges. Lack of enough workers to harvest crops and international logistics has become expensive and inefficient. The logistics sector encountered problems in finding enough truck drivers, the restrictions on sea transporters, and a lack of air freight, which is a major problem for exporters from developing countries. The changes in consumer buying behavior, food habits, and the significant shifts toward online distribution channels are expected to have serious implications on the growth of the passion fruit concentrate market during the forecast period.

Global Passion Fruit Concentrate Market

Market Insights

Rising Consumer Spending for Packaged and Convenience Foods

Nowadays, consumers prefer to purchase food products that offer both convenience and health benefits. Passion fruit concentrate is one of the best economic and convenient alternatives for fresh passion fruits in various applications, thereby escalating its demand in the global market. Growing demand for healthy and convenient food, growing urbanization, changing lifestyles, and rising disposable income are the major factors fueling the market growth. The demand for passion fruit and other fruit concentrates are increasing due to busy and fast life, hectic schedules, and increasing awareness about the health benefits of fruits. There are various technological advancements emerging in the food processing industry, which assists in improving the growth of the passion fruit concentrates market. Moreover, passion fruit concentrates are also used in infant foods. The use of nutritious passion fruit concentrate in infant foods will aid in the proper growth of infants. The rise in the number of working women attributed to changing lifestyles and urbanization resulted in improved demand for baby food products, further amplifying the market growth.

Source Insights

Based on source, the passion fruit concentrate market is segmented into organic and conventional. The conventional segment accounted for the largest share of the global passion fruit concentrate market in 2019; whereas, the organic segment is expected to grow at the highest CAGR during the forecast period. Conventional methods of growing passion fruit include the use of a variety of chemical pesticides, fertilizers, and weed killers that can harm human health. Conventional passion fruits concentrates are derived from the conventionally grown passion fruits. It contains a high amount of potassium and other elements. The plant should be sprayed with dimphite, a type of liquid potassium phosphate fertilizer which promotes the good fruit set, increased fruit size, and prevents the hollowness by filling flesh in the fruits. Biodistinction Xtra is a premium high concentrated liquid chelated suspension concentrate copper fertilizer that is required to meet the copper deficiency in passion fruits. Passion fruits require fertilizing twice a year after pruning and fruiting. The conventional passion fruit concentrate is rich in vitamin A, C, and minerals such as potassium and iron, and contains various cancer-fighting agents such as carotenoids and polyphenols.

Global Passion Fruit Concentrate Market, by Source – 2019 & 2027

End Use Insights

Based on end use, the passion fruit concentrate market is segmented into infant food, beverages, bakery and snacks, ice cream and yogurt, and others. The beverages segment accounted for the largest share in the global passion fruit concentrate market in 2019; whereas, the others segment is expected to register the fastest growth rate during the forecast period. Passion fruit is a fruit that has a tough rind but is juicy and filled with seeds inside. Passion fruit concentrate is tart but has the right amount of sweetness and is consumed by people even without sugar. Apart from having an exotic flavor, the passion fruit concentrate pairs well with the flavor it is added to. This is the main reason behind passion fruit concentrate being so famous amongst cocktails and virgin mocktails. Passion fruit concentrate syrup is made using water, sugar, and passion fruit concentrate. Majority of the beverage brand in Europe has a prominent passion fruit-based beverage, and almost every multivitamin drink in Europe includes passion fruit concentrate. It is used in different beverages ranging from beers to smoothies, vegetable blends, and in 100% juice blends. Passion fruit concentrate is a good source of dietary fiber, vitamin A and potassium and is low in sodium. It yields zero saturated fats and cholesterol. It is also believed to reduce the risk of cancer owing to the presence of plant compounds or phytochemicals like polyphenols and carotenoids that are abundantly present in passion fruit concentrate juices. Besides this, passion fruit concentrate possesses a unique and remarkable ability to mask inexpensive filler juices and unpleasant tasting ingredients due to its intense flavor. Since passion fruit is naturally concentrated, it reduces the amount of concentrate required making it an inexpensive ingredient for drinks and beverages.

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Passion Fruit Concentrate Market: Strategic Insights

Market Size Value in	US$ 464.57 Million in 2019
Market Size Value by	US$ 668.83 Million by 2027
Growth rate	CAGR of 4.7% from 2020-2027
Forecast Period	2020-2027
Base Year	2020

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Mergers and acquisition and research and development are commonly adopted strategies by companies to expand their footprint worldwide, which is further impacting the size of the market. The players present in the passion fruit concentrate market such as CO-RO A/S (Sunquick Concentrate), have been expanding their production lines to enlarge the customer base and gain significant market share across the world, which also permits the players to maintain their brand name globally. For instance, in July 2020, Sunquick Concentrate opened a new production line in Kenya, which has expanded the company’s presence in African markets.

The companies provide passion fruit concentrate for the diversified industry applications. They also operate their passion fruit concentrate production and distribution services in various countries worldwide, which helps them in catering to a wider customer base. These market players are highly focused toward the development of high quality and innovative service offerings to fulfil the customer’s requirements. The companies have realized the developing potential pertaining to passion fruit concentrate and were observed highly involved in expansion of their production facilities, and these companies are actively involved in the expansion of their business at the global level.

Global Passion Fruit Concentrate Market – By Source

• Organic
• Conventional

Global Passion Fruit Concentrate Market – By End Use

• Infant Food
• Beverages
• Bakery and Snacks
• Ice Cream and Yogurt
• Others

Company Profiles

• Britvic plc
• Ceres Fruit Juices Pty Ltd,
• CO-RO A/S (Sunquick Concentrate)
• Dafruta
• Ingredion Incorporated
• Kiril Mischeff Group Ltd
• Passi AG
• Planters Treasure Enterprises Private Limited
• Quicornac S.A.
• The Perfect Purée of Napa Valley