LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global gooseberry products market to grow at a CAGR of close to 8% during the period 2018-2022, according to their latest report.
This market research report segments the global gooseberry products market into the following applications (food and beverage, beauty and personal care, and pharmaceutical industry) and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the growing number of organized retailing outlets as a key factor contributing to the growth of the global gooseberry products market:
Growing number of organized retailing outlets
With the help of supermarkets, hypermarkets, and specialty stores, organized retailers have spread their business worldwide. Ready-to-eat packaged food and beverages are primarily sold by large organized retailers as competitors in the market are highly dependent on them. Supermarkets are a major distribution channel for food and beverages as it enables easy access to the consumers. The growing global population density is increasing the demand for supermarkets.
According to a senior analyst at Technavio for food, “In the US, 38,000 supermarkets are expected to grow during the forecast period. A similar trend is expected to follow in countries such as Brazil, Chile, and Mexico. Food and beverage account for more than half of the sale in marts. This sale is expected to increase during the forecast period.”
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Global gooseberry products market segmentation
Of the three major applications, the food and beverage segment held the largest market share in 2017, accounting for nearly 55% of the market. The market share for this application is expected to increase by 2022. The fastest growing application is beauty and personal care, which will account for 30% of the total market share by 2022.
APAC was the leading region for the global gooseberry products market in 2017, accounting for a market share of 59% followed by EMEA and the Americas. By 2022, APAC is expected to witness an increase in market share. A major contributing factor is attributed to the health benefits of superfood products among consumers, which is increasing the sales of gooseberry products in all these regions.
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