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Global Guava Market Overview
The Global Guava Market size is estimated to reach $1,250 million by 2027. Furthermore, it is poised to grow at a CAGR of 4.5% over the forecast period of 2022-2027. Guava is a tropical fruit that can be round or oval in shape and can grow to be as large as an apple. The skin of the guava can be green or yellow, while the interior can be white or dark pink. With notes of pineapple and banana, the fruit has a tropical flavor. The fruit can be eaten raw, blended into jams, chutneys, ice cream, custards, sauces, and so on. It is suitable for cooking, baking, and preserving. Guava has a pleasant, flowery scent and little firm seeds. It’s available all year in Asian countries and for a limited time in Florida and California. In guava, ascorbic acid content increased from the immature stage up to the turning stage. The flavonoids present in guava leaf extract help in hydrolyzing the body. Guava puree is a creamy liquid created from guava fruits that have been chopped, deseeded, pulped, refined, and homogenized. Guava puree is a well-known flavor component in the beverage industry. These purees come in sweet and sour varieties and range in shade from white to deep pink with a semiliquid feel. Guava seed oil, which is high in linoleic acid and antioxidants, has been shown to enhance skin wound healing and prevent leukemic cell proliferation. Guava has a large number of antioxidants and phytochemicals including essential oils, polysaccharides, minerals, vitamins, enzymes, and so on. India, China, and Thailand are the biggest producers of guava and about 55 million tons of guava are produced worldwide in 2019. The robust growth in various applications such as beverages, infant food, bakery, ice creams, and yogurt are some of the factors driving the Global Guava Industry forward in the projected period of 2022-2027.
Global Guava Market Segment Analysis- By Type
The Global Guava market based on type can be further segmented into Strawberry Guava, Lemon Guava, Tropical White, Pineapple Guava, and Others. Tropical White held a dominant market share in the year 2021. Tropical white guava is one of the most available fruit in the world which increases its usage among consumers. Recently, people are conscious of health and prefer fruit regularly so, the demand for tropical white guava increased as it is available all the time and is very beneficial to their diet. Moreover, tropical white is used to make various types of beverages as it helps to enhance the taste of beverages which in turn enhances the market growth.
However, Strawberry Guava is estimated to be the fastest-growing, with a CAGR of 5.1% over the forecast period of 2022-2027. Strawberry guava is relatively low in calories which becomes a part of the regular human diet. Strawberry guava contains a kind of strawberry flavor that roses its usage to make flavored ice creams, flavored yogurt, and many more. Manufacturers are mostly using strawberry guava in order to enhance the taste of beverages. Moreover, consumers also prefer to adopt flavored beverages which further increases the demand for strawberry guava fruit.
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Global Guava Market Segment Analysis- By End-Users
The Global Guava market based on end-users can be further segmented into beverages, infant food, bakery, ice creams, and yogurt. In 2021, Beverages held a dominant market share. Guava fruit is rich in nutrition so, the usage of guava fruit increases in the beverage industry. Guava juice enhances the flavor and taste of beverages so, manufacturers are using guava fruit in a variety of beverages. Recently, consumers prefer diet-based drinks which are healthy as well as tasty so, the consumption of fruit-based juices roses further soared the adoption of guava.
However, Ice creams and yogurt are estimated to be the fastest-growing, with a CAGR of 4.9% over the forecast period of 2022-2027. Recently, consumers prefer to consume natural ice cream which is healthy and is made with natural sugar so, manufacturers are focusing to use fruits for natural ice creams which give a natural flavor to consumers. Moreover, people are attracted to consuming flavor yogurt nowadays as a large number of flavors are available. This factor increases the demand for guava fruit in yogurt to include the flavors of guava.
Global Guava Market Segment Analysis- By Geography
The Global Guava market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held a dominant market share of 37% in the year 2021 as compared to its other counterparts. It is owing to an increase in the use of guava fruit in a range of applications, including yogurt, ice cream, and many others. The consumption of guava fruit is increasing as people become more health-conscious. Guava puree availability has expanded as a result of advances in guava farming and processing, which has resulted in a surge in guava fruit demand. Guava is regarded as one of India’s most important commercial fruits. India produces 45 percent of the world’s guava, with Indonesia, China, and Mexico following closely behind. In 2021, guava production reached 1.7 million tons in India and exports guava fruits to several countries including the U.S., Kuwait, Jordan, Saudi Arabia, UAE, and the Netherlands.
Global Guava Market Drivers
Rising consumption of healthy and organic diet have readily aided the market growth.
Consumers are more likely to choose a healthy and organic diet as a result of their hectic lifestyles. Consumers are being influenced by emerging trends such as physical fitness and nutritious meals to include fruits in their regular meals, which should drive product share. Recently, the adoption of guava fruit rises in the beverage industry as a large number of people prefer the products that are fruit-based and are healthy so, manufacturers increase the use of guava fruit in various beverages in order to increase the sales of the beverage industry. In 2020, the beverage industry sales increased at a rate of 3%. So, rising demand for high-scale volumes in the beverage industry across the globe is set to drive the growth of the market.
Growing demand for guava puree among consumers is set to enhance market growth.
Guava puree is very nutritious for health that rising the demand for puree among consumers. Guava puree supply has increased significantly as a result of advancements in guava cultivation and processing. Companies are actively focusing on improving performance attributes that can help puree stay fresh for longer periods of time. Additionally, this can provide superior barrier protection. Consumers have been drawn to guava puree owing to the adoption of simpler packaging and sealing. To gain a large portion of the market, certain firms are emphasizing the freshness and purity of their products. Guava puree is becoming increasingly popular as a flavoring for a variety of foods and beverages, including cocktails, mocktails, and restaurant dishes which increases its demand among consumers.
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Global Guava Market Challenges
Low shelf life of guava fruit is one of the factors impeding the market growth.
Guava fruits have a short shelf life, making them challenging to market for distant marketing. Long-distance transportation of fruits necessitates the use of refrigerated conveyance, as well as adequate packaging and cushioning material which further increases the cost of production and degrades the market of guava. Guava processing industry development is needed to cut marketing costs and eliminate wastage and losses in the manufacturing chain.
Global Guava Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Global Guava Market. The top 10- Global Guava Market companies are-
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A. Fruit Water Market- Forecast (2022-2027)
B. Natural Flavors Market- Forecast (2022-2027)
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