- Current economic scenario of Latin America
- The quantitative data in the report provides historic and forecast fruit powder consumption data by country in Volume (M Liters).
- Top level fruit powder consumption actual data for 2010-2014, provisional data for 2015; while forecasts are provided for 2016-2021 across 17 individual countries.
- Major market players of the fruit powder market of Latin America.
- Key consumer trends which will influence Fruit Powder Consumption
- Consumer demographics, trends and behaviors
Ken Research has recently announced its latest publication “Fruit Powders Consumption Volume and Growth Forecast to 2021-Latin America” which aims at providing detailed market analysis of fruit powder market of Latin America. Further, the quantitative data in the report provides historic and forecast of fruit powder consumption data by country in Volume (M Liters). This report includes top level fruit powder consumption actual data for 2010-2014, provisional data for 2015; while forecasts are provided for 2016-2021 across 17 individual countries. It provides a top-level overview and detailed insight into the operating environment for the fruit powder market in Latin America.
Economic Environment of Latin America
Latin American countries covered in the report include Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, and Venezuela. Latin America has faced immense economic backwardness due to extreme economic disturbances and drab economic growth. Negative growth rate is recorded in countries like Brazil and Venezuela. Political instability in Brazil, high inflation levels in Uruguay, economic disturbances in Chile, recession prevailing in Venezuela shows the economically backwardness of Latin American countries. Unemployment, inflationary pressures, economic recession, dwindling investor’s confidence, poverty, corruption, etc. are the characteristics of Latin American economies. Only Peru and Mexico are performing well in Latin America, growing steadily at positive rate. However, many economic analyst predict rapid growth and stability in major economies of Caribbean Nations post-2016.
Brief Overview of Fruit Powder Market of Latin America
Latin American nations generally are characterized by massive production of fresh fruits and vegetables. Consumption of fruits and vegetables in fresh form was popular in Latin America since it was abundantly available and people generally shunned from consumption of processed food items. But in past two decades, demand for processed industrial based fruit items is rising laden to elevation in demand for jams, packaged juices, powdered juices, syrups, fruit purees, etc.
Fruit powders are either edible artificial flavored powder or a powdered form of fruits and vegetables obtained after dehydration which is generally sold together with water serving. Banana powder, mango powder, tomato powder, strawberry powder and numerous other variety of fruit powders are sold in Latin American market which can be used as drink by mixing water, as dessert flavoring, curry flavoring, etc.
Demand for such treated food powders is expanding due to the following reasons:
- Health considerations
These fruit powders are extremely nutritious and wholesome packed with macro and micro nutrients. People are using such powders to fulfill their optimum nutritional requirements. Post workout fruit powders, meal replacement fruit powders, nutrient rich fruit powder, low carb powders, etc. has been launched in market and have gained immense popularity.
- Pocket Friendly
Fruit drinks made by using fruit powders are most pocket friendly drinks. Moreover, like many other economies industrial products are cheaper than agricultural products in Latin America. Because of slowdown in Latin American economy demand for fruit powders is soaring since they are far less expensive than fresh fruits.
- Other factors
Such fruit powders are easy to use and makes food preparation is less complicated. Using tomato powder in gravies is simpler than the complicated process of using fresh tomatoes to make gravy.
- Longer shelf life
Such powders generally contain fruits which are dehydrated at slow temperatures making their shelf life way too longer than fresh and frozen food items.
- Concentrated flavour
Flavor of such concentrated fruits are extremely concentrated and used extensively in food items in a far less quantity than fresh fruits.
Major Players in Latin American Fruit Powder Market
Leading fruit powder brands of Latin America include Institucional, Tajin, Tradekey, Powder Pure, Parmalet, etc.
Though the fruit powder industry has shown a progressive growth but this growth is not so significant. The growth of the fruit powder market in Latin America is constrained by the following:
- Low per capita income which in turn leads to lower per capita expenditure on fruit powders.
- High content of sugar, preservatives and additives found in such food powders has led to fall in demand for such powders.
- Greater consumption of fresh fruits in Latin America is acting as a constraint for full expansion of artificially flavored fruit powder industry.