Asia-Pacific Specialty Crop Market Witness A Considerable CAGR Of 5.0% During The Forecast Period

Market Definition

Fruits and vegetables, tree nuts, dried fruits, horticulture, and nursery crops are examples of specialty crops (including floriculture). They also contain exotic plants grown in a particular area due to topographical and climatic characteristics. A paradigm shift in consumer eating behaviors has been documented due to population growth and an increase in per capita disposable income, directly affecting the demand for wholesome food. Other factors boosting the market for specialized crops include increased urbanization, ethnic diversity, health concerns, and changes in demographic characteristics.

Data Bridge Market Research analyses that the Asia-Pacific specialty crop market will grow at a CAGR of 5.0% during the forecast period of 2022 to 2029.

Asia-Pacific Specialty Crop Market Analysis and Insights

Fruits and vegetables, tree nuts, dried fruits, horticulture, and nursery crops are examples of specialty crops (including floriculture). They also contain exotic plants grown in a particular area due to topographical and climatic characteristics. A paradigm shift in consumer eating behaviors has been documented due to population growth and an increase in per capita disposable income, directly affecting the demand for wholesome food. Other factors boosting the market for specialized crops include increased urbanization, ethnic diversity, health concerns, and changes in demographic characteristics. The primary drivers of the specialty crops industry include the expanding application range of specialty crops, encouraging government initiatives, and free trade policies. However, expansion is constrained by trade and environmental constraints.

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By maintaining quality and transparency strictly, research studies are carried out which offers an outstanding market research report for the specific niche. In the world class Asia-Pacific Specialty Crop market report, market drivers, and market restraints are studied carefully along with the analysis of the market structure. In addition, this market report provides plentiful insights and business solutions with which business can stand apart from the other market players. In no doubt, businesses are significantly relying on the different segments covered in the market research report hence Asia-Pacific Specialty Crop report presents them with the better insights to drive the business into right direction.

Asia-Pacific Specialty Crop Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:

Drivers:

• Rising inclination of consumers toward vegan food, natural and healthy foods

As a conscious consumer, it is a particularly beneficial way of life because turning vegan would entirely isolate oneself from dangerous antibiotics, hormones, and adulteration, which is widespread culture to ensure prolonged shelf life for most animal goods. As exports grow and the world shrinks, more preservatives and chemical compositions are used to ensure that the food survives the journey. Veganism is also a non-violent lifestyle choice. People’s increased health consciousness leads them to include more healthful items in their diets, such as medicinal herbs, spices, and nuts.

Thus, the rising inclination towards vegan and healthy food due to the rise in awareness of nutritional and medicinal benefits is expected to as a driver for specialty crop market growth.

• The increased focus of consumers on healthy living

The Asia-Pacific market for specialty crops is being driven by a growing desire for a healthy lifestyle among people. The growing consumer preference for healthy lifestyles has become a driver for the creation of demand for specialty crops. Regardless of industry, many pioneers have considered this driver and are actively investing in specialty crop-based companies. An important aspect of leading a healthy lifestyle is eating healthy foods such as food made from specialized crops. A nutritious diet is critical for optimal health and nutrition. It protects against a wide range of chronic diseases, including heart disease, diabetes, and cancer. A healthy diet includes eating a variety of foods and consuming less salt, sugar, saturated fat, and industrially generated trans fats. Also, increased knowledge of the advantages of a healthy lifestyle causes consumers to select the best healthy food products, which include foods manufactured with specialty crops such as nuts, spices, herbs, and so on.

Thus, the increasing awareness and knowledge of the advantages of a healthy lifestyle cause consumers to select the best healthy food products, such as specialty crop products, eventually becoming a major driving force for specialty crop market growth.

Restraints

• Strict regulations for food products

For a number of reasons, specialty crops are particularly vulnerable to the prevalence of foodborne illnesses. It might be challenging to completely clean or sanitize specialized crops because they are frequently consumed raw or with little preparation, depending on the particular fruit or vegetable. As technology advances, issues such as responsibility and laws are becoming more crucial. To reduce the dangers of foodborne illnesses as much as possible, specialty crop producers must be aware of the rules that may impact their business. Due to these reasons, food regulatory bodies such as Food and Drug Administration (“FDA”) and the Food Safety and Inspection Service (“FSIS”) kept strict rules and regulations for these crop production.

Thus, these regulations will create a barrier for many entrepreneurs to start and continue the market of specialty crops, which may act as a major restrain for the market growth.

• Limited crop growing facilities for specialty crops

Producers of specialty crops rely largely on seasonal labor inputs. A country’s food supply, especially its fresh fruit and vegetable supply, may be in jeopardy if there is insufficient labor to meet agricultural and animal demands. Farmers are forced to sell their produce at low prices to local money lenders due to inadequate transportation. Farmers are unable to keep their food when prices are low since there aren’t enough warehouses available. Therefore, these account greatly for the low production of specialty crops. This many lacks of facilities from production to marketing become a major barrier to market growth.

Thus, the lack of various crop cultivation facilities such as irrigation, seeds, fertilizers, transport, and others function may act as a restraint to the market’s growth.

Opportunity

• Government initiatives and free trade policies

Positive government measures, such as sales and marketing efforts, plant pest and disease prevention, and research & development, all contribute to the expansion of specialty crops. Access to international markets helps the specialty crop business grow while also supporting the livelihoods of those working on farms and in related industries. Agricultural Marketing Service (AMS) administers initiatives to open up domestic and worldwide markets for American producers of food, fiber, and specialty crops. In order to guarantee the availability and quality of healthy food for customers across the nation, the government has taken several initiatives. The government also provided a food assistance program to help specialized crop producers. This help was provided to encourage the development of specialist crops, such as horticulture, tree nuts, fruits, vegetables, and indigo.

Competitive Landscape and Asia-Pacific Specialty Crop Market Share Analysis

The competitive Asia-Pacific specialty crop market provides details about the competitors. Details include company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points are only related to the companies focus on the Asia-Pacific specialty crop market.

Some of the major players operating in the Asia-Pacific specialty crop market are Banabay, Fisher Nut Company, Simped Foods Pty Ltd., SVZ Industrial Fruit & Vegetable Ingredients, Lamex Food Group Limited, Herbs N Spices International, Olam Group All Rights Reserved Co., AGT Food and Ingredients, Natural Specialty Crops, ULC, Golden Peanut and Tree Nuts, Barnes Williams, and Rice Fruit Company among others.

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Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning grids, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Asia-Pacific Vs. Regional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.

Post-COVID-19 Impact on Asia-Pacific Specialty Crop Market

Post the pandemic, the demand for specialty crops has increased as there won’t be any restrictions on movement; hence, the supply of products would be easy. The persistence of COVID-19 for a longer period has affected the supply chain as it got disrupted, and it became difficult to supply food products to consumers, initially increasing the demand for products. However, post-COVID, the demand for specialty crops has increased significantly owing to good protein content and other nutrients available.

Recent Developments

• In July 2022, SVZ Industrial Fruit & Vegetable Ingredients announced an investment plan for its Belgian processing plant in Rijkevorsel. This expansion will help the company to fulfill the growing demand for fruit and vegetable products from consumers by increasing the facility’s capacity.
• In September 2020, The Fisher Nut Company introduced a new case packaging line due to increased demand for products during COVID-19.

Asia-Pacific Specialty Crop Market Scope

Asia-Pacific specialty crop market is segmented on the basis of crop type, nature, and application. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Crop Type

• Vegetables
• Fruits
• Tree Nuts
• Herbs
• Spices
• Others

On the basis of crop type, the Asia-Pacific specialty crop market is segmented into fruits, vegetables, tree nuts, herbs, spices, and others.

Nature

On the basis of product type, the Asia-Pacific specialty crop market is segmented into organic and conventional.

Application

• Dairy Products
• Bakery
• Juices
• Nectars & Fruit-Based Drinks
• Confectionery
• Soups
• Sauces & Dressings
• Others

On the basis of end user, the Asia-Pacific specialty crop market is segmented into dairy products, bakery, juices, nectars & fruit-based drinks, confectionery, soups, sauces & dressings, and others.

Asia-Pacific Specialty Crop Market Regional Analysis/Insights

The Asia-Pacific specialty crop market is analyzed, and market size insights and trends are provided based on crop type, nature, and application, as referenced above.

The countries covered in the Asia-Pacific specialty crop market report are China, Japan, India, Australia, Singapore, Indonesia, Thailand, South Korea, Malaysia, Philippines, and rest of Asia-Pacific.

In 2022, China is expected to dominate the Asia-Pacific specialty crop market due to the growing demand for a healthy lifestyle and the rising consumption of crops, which is the major reason for the growth specialty crop market in the Asia-Pacific region.

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