Post-harvest Treatment Market Will Hit Big Revenues In Future
(I-BusinessNews.Com, September 07, 2021 ) The post-harvest treatment market size is projected to grow from USD 1.5 billion in 2019 to USD 2.3 billion by 2026, recording a compound annual growth rate (CAGR) of 6.5%, in terms of value, during the forecast period.In the agricultural industry, post-harvest handling is a critical stage of the overall crop production process. The harvested products are metabolically active and undergoing various ripening and senescence processes, which need to be controlled for prolonged post-harvest quality of the produce. The increasing demand for exotic fruits and vegetables and the rise in the trade of such produce are projected to drive the market growth for post-harvest treatment.
By type, the coatings segment is estimated to account for the largest share in 2019 in the post-harvest treatment market.
Coatings are one of the methods to increase the shelf life of products and decrease the quality and quantity losses. They are mostly applied to fruits & vegetables during the packaging process for maintaining their softness, color, odor, and flavor. The development of edible coatings has made it easier for fruits and vegetable processors to use the produce without any concerns about their harmful effects. Edible coatings help to prevent unnecessary softening and ripening of fruits & vegetables. Coatings form an integral part of the post-harvest treatment process, as fruits & vegetables are stored for longer periods, thereby making it important to maintain their shelf life and quality.
The fruit segment is projected to grow at the highest rate during the forecast period.
The fruit segment, by crop type, is projected to grow at the highest CAGR, in terms of value, during the forecast period. Fruits are highly perishable in nature and are required to be treated with post-harvest solutions to increase their shelf life for longer storage duration and easy transport of these products. Increasing application of natural flavors in the food and beverages industry is also encouraging the trade of fruits, which in turn, has led to a surge in demand for post-harvest treatment solutions in the major fruits and vegetable producing region such as Asia Pacific.
Asia Pacific is projected to account for the largest share in the post-harvest treatment market during the forecast period.
Asia Pacific dominated the post-harvest treatment market for the fruits and vegetables segments in 2018. Countries such as India and China are the key producers of fruits and vegetables, a majority of which are exported to North America and Europe. Since the Asia Pacific region is a developing region, post-harvest losses of fruits and vegetables are witnessed on a large scale in its countries. Hence, the need for efficient post-harvest treatment mechanisms remains high, which is subsequently projected to drive the growth of the market.
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Key Market Players
Key players in the market include Decco (US), JBT (US), Pace International LLC (US), Xeda International (France), Agrofresh (US), Syngenta (Switzerland), FMC Corporation (US), Nufarm (Australia), Bayer (Germany), Citrosol (Spain), Fomesa Fruitech (Spain), Futureco Bioscience (Spain), Corteva Agriscience (US), BASF (Germany), Sensitech Inc (US), Post-Harvest Solutions (New Zealand), Janssen PMP (Belgium), Colin Campbell Pty Ltd (Australia), Valent Biosciences (USA), and RPM International (US). These players have a broad industry coverage and strong operational and financial strength.
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