Research Nester has released a report titled “Apple Sauce Market – Global Demand Analysis & Opportunity Outlook 2028″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The USDA in one of its statistics stated that the production of fresh apples around the world is anticipated to rise up to 5.0 million metric tons.
The statistics portray the increasing production of apples backed by the increasing need to meet the rising demand for apples. The consumption of apples and its by-products have increased dramatically over the years owing to the numerous health benefits of apple. Additionally, several manufacturers of apple sauce have also largely adopted to providing flavoured products by mixing different flavours to enhance the taste of apple sauce. Such factors are promoting towards the increase in consumption of apples and its by-products, which is further anticipated to drive the growth of the global apple sauce market.
The global apple sauce market is anticipated to achieve a CAGR of 3.53% during the forecast period, i.e. 2021-2028. The market is thriving owing to the increasing utilization of apple sauce in the food industry, increasing availability of new, flavoured, and cost-effective apple sauce products in the market, rising awareness for the health benefits associated with the consumption of apple sauce, and the increasing research and developmental activities that are being carried out for such food products. The global apple sauce market registered a value of USD 1492.34 million in the year 2019 and is further projected to reach a value of USD 2006.30 million by the end of 2028.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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The global apple sauce market is segmented by composition into sweetened, unsweetened and flavoured. The flavoured composition segment is further segmented into mango, strawberry, cinnamon and others. Among these segments, the cinnamon segment registered the largest market share of 45.12% in the year 2019. Factors such as the numerous benefits associated with the addition of cinnamon in apple sauce, such as the property of bringing out sweetness in the sauce without adding sugars, reducing high blood cholesterol and reducing risk of heart diseases are anticipated to drive the growth of the cinnamon segment in the global apple sauce market. The segment also registered a value of USD 148.89 million in the year 2019 and is further projected to reach a value of USD 209.77 million by the end of 2028.
Geographically, the global apple sauce market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa, out of which, the market in North America registered the largest market share of 32.58% in the year 2019 owing to the changing customer preferences, increasing disposable income and healthy eating habits amongst people in the region. The market in the region registered a a value of USD 148.89 million in the year 2019 and is further anticipated to reach a value of USD 209.77 million by the end of 2028.
However, concerns for the decreasing production of apples in several countries on account of the changing climate and the reduced availability of arable land, coupled with the availability of substitutes are some of the factors anticipated to hinder the growth of the global apple sauce market.
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Apple Sauce Market – Global Demand Analysis & Opportunity Outlook 2028″, analyses the overall apple sauce industry to help new entrants to understand the details of the market. In addition to that, this report also guides existinsg players looking for expansion and major investors looking for investment in the global apple sauce market in the near future.
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