April 18, 2024

Berry Bonanza: Exploring the Blueberry Ingredient Market

Blueberry Ingredients Market is in Trends Towards Increased Usage in Bakery Items

The blueberry ingredients market consists of products derived from blueberries including concentrates, juices, powder, extracts, and purees. Blueberries are a nutrient-dense fruit known to have high levels of antioxidants and vitamins that provide various health benefits. Blueberry ingredients find wide applications in food and beverages products to impart color, taste and nutritional value. They are commonly used in yogurts, cereals, smoothies, dairy products, bakery items and confectionaries.

The Global Blueberry Ingredients Market is estimated to be valued at US$ 2, 2277.4 Mn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the blueberry ingredients market are Ingredion Incorporated, AGRANA Beteiligungs-AG, Dohler GmbH, Sensient Technologies Corporation, Tianjin Jianfeng Natural Product R&D Co. Ltd, Givaudan SA, FutureCeuticals, Scenic Fruit Company, Atlantic Blueberry Company Inc., and Jasper Wyman & Son Inc. The growing demand for nutritional and natural food ingredients is driving the growth of the blueberry ingredients market. Manufacturers are incorporating blueberry ingredients into various food and beverage products to cater to consumer demand. Regions like North America, Europe, Asia Pacific are major consumers of blueberry ingredients market due to increasing application in processed food industry and rising health-conscious population.

Market key trends

One of the major trends witnessed in the blueberry ingredients market is the increased application in bakery items. Blueberry ingredients have found wide usage in muffins, biscuits, cakes, pastries and breads to enhance the taste and nutritional value. The antioxidants present help preserve freshness and blueberry bits add visual appeal. This is contributing to lucrative growth opportunities for blueberry ingredients suppliers in the bakery segment. Additionally, with rising health and wellness trends consumers are opting more for bakery foods containing natural and nutritive flavors like blueberry.

Porter’s Analysis

Threat of new entrants: New entrants in the blueberry ingredients market face high capital requirements for manufacturing facilities and distribution networks.

Bargaining power of buyers: Buyers have moderate bargaining power in the blueberry ingredients market due to the availability of substitutable ingredients like cranberries and blackberries.

Bargraining power of suppliers: Suppliers have high bargaining power due to limited availability of high-quality blueberries and controls over price fluctuations.

Threat of new substitutes: Substitute products like cranberry and blackberry ingredients pose moderate threat as they also provide antioxidants and nutritional benefits.

Competitive rivalry: The market is moderately competitive due to presence of numerous regional and international players.

Geographical Regions

North America currently holds the largest share of the global blueberry ingredients market in terms of value. This is majorly attributed to increased utilization of blueberry ingredients in food and beverage products in the US and Canada. The region witnesses high production of blueberries owing to favorable climatic conditions across major cultivating countries like the US and Canada.

Asia Pacific is projected to be the fastest growing regional market for blueberry ingredients between 2023 and 2030. This high growth is credited to rising health awareness and increasing utilization of blueberry ingredients in dietary supplements, functional food and beverages in major countries like China, India and Japan. Expanding middle-class population and growing inclination towards premium food products also support the market growth in the region.