CITRUS FRUIT COATINGS MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The citrus fruit coatings market is projected to grow at a CAGR of 6.6% during the forecast period (2020-2025).

Key Highlights

• The growing consumption of citrus fruits in the globally is augmenting the citrus fruit coatings market to enhance the shelf life of the fruit.
• North America and Asia-Pacific are the leading regions driving the market. United States based players such as John Bean Technologies (JBT) provides wide range of premium hybrid coatings for citrus that maximises packer value in the domestic and export markets. Thereby, boosting the use in domestic as well as international market.

Key Market Trends

Growing Consumption of Citrus Fruits

The growing consumption of citrus fruit is vastly driving the market studied, owing to changing consumer preferences. Oranges are highly consumed in American region, specially in Brazil and United States. The demand for citrus fruit coatings is augmenting for it is specially formulated for packers who require a highly attractive and durable shine all the way to market. The fruits packed for domestic or international consumption, packers use a coating that protects fruit under extreme processing, environmental and shipping conditions from the packinghouse to the marketplace, and ultimately to the consumer, without jeopardizing the health of the fruit. Thus, boosting consumer preference and contributing to the market studied.

North America is the Largest Market

North America holds the largest share of the market studied owing to higher production, and consumption in the region. Manufacturers of the country are concentrating on innovations to produce premium hybrid coating for citrus, specially highest quality carnauba coatings to save the fruit to prevent the loss of moisture, which keeps Citrus Fruits juicy and fresh for long period. The naturally produced citrus fruit coating such as shellac, consisting no ammonia or morphine are catering to the growth of the market in North America especially for greening and conservation of the environment.

Competitive Landscape

The global citrus fruit coating market is fragmented with presence of global and regional players. Investments & expansions formed the most preferred strategy among the key players to attract and retain new customers globally. They also focused on acquiring local players of emerging markets to expand their business on a global scale and sustain the competition prevailing in the market. New product launches also helped major players in strengthening their product portfolio.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support