The fruits and vegetables coatings market research report examines the key questions around the implications of COVID-19 and provides a recovery analysis and outlook for the market in focus. Although the market has witnessed a negative impact due to the COVID-19 situation, the research analysts at Technavio expect the fruits and vegetables coatings market to recover and grow by USD 266.96 million during the forecast period, accelerating at a CAGR of almost 7%.
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Fruits and Vegetables Coatings Market Segmentation Analysis by Product
Fruits Coatings accounted for the largest market share in 2019 and is expected to witness the fastest growth during the forecast period. The growing focus of vendors on increasing the sales of fruit coatings will accelerate the growth momentum of the market during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the fruits and vegetables coatings market size.
Fruits and Vegetables Coatings Market Regional Analysis
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Fruits and Vegetables Coatings Market: Key Market Drivers
Fruits and vegetables coatings market is expected to be driven by the benefits offered by fruits and vegetables coatings. The perishability of fruits and vegetables is high, owing to their short shelf life. Many fruits and vegetables start degrading due to various microorganisms and insects during both the pre- and post-harvesting conditions. Such issues will increase the requirement of effective preservation of fruits and vegetables. The edible coating is an effective and ideal method for post-harvest preservation of fruits and vegetables. Fruit and vegetable coatings help in maintaining texture, color, appearance, flavor, nutritional value, and ensure microbial safety of fruits and vegetables. These benefits offered by fruit and vegetable coatings will encourage more end-users to use such products, which will propel the growth of the global fruits and vegetables coatings market during the forecast period.
Growing Government Support to Increase Production of Fruits and Vegetables will be a Key Market Trend
The global population is witnessing an overall growth every year. Therefore, the production of fruits and vegetables need to be increased to meet the demand from the growing population. Government organizations across various countries are focusing on enhancing the production of fruits and vegetables. Also, governments of various countries are focusing on achieving self-sufficiency in the area of fruit and vegetable production. For instance, in March 2019, the Ministry of Agriculture and Agri-Food in Canada announced an investment under the Canadian Agricultural Partnership, AgriScience Program, to the British Columbia Fruit Growers' Association. The funding is to support the fruit industry and increase the production of fruits. The increase in the production of fruits and vegetables is directly associated with the requirement of fruit and vegetable coatings to maintain freshness.
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Fruits and Vegetables Coatings Market 2020-2024 : Key Highlights
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Five Forces Analysis
Market Segmentation by Product
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