Dublin, Ireland, June 22, 2022 (GLOBE NEWSWIRE) -- As per a new report by Fact.MR, a market research and competitive intelligence provider, the global cascara products market is currently valued at US$ 458 million and projected to expand at an impressive CAGR of 10.4% over the forecast period (2022 to 2032). The market registered 9.1% CAGR between 2017 and 2021. Fact.MR anticipates significant potential in the market due to the enhanced activity of market players across the coffee value chain.
Cascara is a highly potential ingredient due to its chemical composition and its attribute to fit in the upcycled ingredient ecosystem. Almost half of cascara by-product produced during coffee processing is now being used to produce cascara products, which previously used to find its way into non-commercial markets.
Unfolding Benefits and Product Approvals to Heighten Demand and Market Size of Cascara Products, States Fact.MR
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Fact.MR, in its recent research, evaluated several studies and research papers on cascara that discloses its health benefits and widening applications. These papers revealed that high antioxidant content in cascara permits its use as a health supplement, and its very low content of caffeine makes it different from normal coffee and tea, which is recommendable for people who observe caffeine side effects while consuming coffee and tea. Also, the sweet taste of cascara drives its application in the food industry as a flavour-enhancement product.
These factors are anticipated to drive the demand for cascara products by 2.6X between 2022 and 2032.
Key Takeaways from Market Study
- Cascara ready-to-drink beverages are estimated to account for a market share of 65.7% in 2022, which equates to sales value of US$ 300 million.
- Cascara tea is second-most sought-after with stipulated sales value of slightly over US$ 100 million in 2022.
- In terms of geography, North American consumers spend the most on cascara products, which is almost half of global spending.
- Europe and East Asia countries are pivots to the global functional food industry, and these markets are poised to expand at a CAGR of 15% over the next ten years.
- Every year, a minimum of three brands are expected to introduce cascara products into the market.
- Cascara product consumption is anticipated to increase at a CAGR of 10.4% during the period of 2022-2032.
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Winning Strategy
Key suppliers of cascara products already represent the coffee industry, with a handful of new companies joining the bandwagon. Almost all companies are experimenting with new products lines and deliberately pushing consumers to exhibit the highest threshold of adoption.
Manufacturers who have successfully introduced their products in the market are recognized as key market leaders; for instance, Nestle Australia Ltd., Applied Food Sciences, Van Drunen Farms, and Mountain Top Coffee. These established market players have already started the production and sale of cascara products.
Most cascara products are consumer-oriented products, and only consumer-oriented product lines can ensure 15%+ operating margins for cascara product manufacturers.
Apart from that, potential players are waiting for their approvals of submitted applications to launch innovative products in the market and escalate their profit margins.
Key Segments Covered in Cascara Products Industry Research
- Cascara Products Market by Form :
- Powder / Solids
- Liquid
- Cascara Products Market by Product Type :
- Cascara Tea
- Cascara Ready-to drink Beverages
- Cascara Syrups
- Cascara Powder
- Others
- Cascara Products Market by Application :
- Flavour Enhancement
- Health Supplement
- Fertilizer
- Cascara Products Market by Sales Channel :
- B2B
- B2C
- Cascara Products Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global cascara products market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (protein isolates, protein concentrates, flour, other product types), nature (organic, conventional), end use (food processing, animal feed, nutraceuticals, sports nutrition, infant nutrition), processing type (dry processing, wet processing), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
Fact.MR’s Domain Knowledge in Food and Beverage Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food and beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the food and beverage domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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