Specialty Crops Market Forecasts to 2028 – Global Analysis By Type (Tree Nuts, Herbs & Spices), Nature (Conventional, Organic), Sales Channel (Distributor, Direct Sales), End User (Food Service, Beverages, Retail), and By Geography
According to Stratistics MRC, the Global Specialty Crops market is accounted for $1,028.33 million in 2020 and is expected to reach $1,484.93 million by 2028 growing at a CAGR of 4.7% during the forecast period. Some of the key factors propelling the market growth include the widening application scope of specialty crops, rapid urbanization, health concerns, changes in demographic features, ethnic composition, supportive government measures, and free trade policies. However, the environmental and trade barriers are restraining the market growth.
Specialty crops are plants that are intensively cultivated. These crops refer to tree nuts, dried fruits, fruits and vegetables, horticulture, and nursery crops (including floriculture). They also include exotic crops that are specially cultivated across a region due to climatic and topographical features. Eligible plants must be cultivated or managed and used by people for food, medicinal purposes, and aesthetic gratification to be considered as specialty crops.
By type, fruits & vegetables segment is expected to be the fastest-growing segment during the forecast period, due to the global demand for fruits and vegetables is high owing to their high nutritional profile, growing demand for specialty fruits and vegetables grown organically, rapid urbanization, and shift in consumer preference toward healthy lifestyle have encouraged the adoption of fruits and vegetables in their diet.
On the basis of geography, Asia Pacific market is expected to expand at the fastest growth rate during the forecast period, due to the lifestyle of consumers is changing rapidly, rising disposable income of the populace, the influence of western lifestyle, and rapid urbanization.
Some of the key players in Specialty Crops Market include Fisher Nut Company, Oregon Spice Company, Olam International, Barnes Williams, Harbor Spice Co., Inc., Lamex Food Group Limited, BanaBay Limited, Simped Foods Pty Ltd., Diamond Fruit Co., United Natural Foods, Inc., Phoenix Global DMCC, NUTSCO, Inc., Rice Fruit Company, SunWest Foods Inc., Specialty Crop Company., Inc., Herbs N Spices International, and SVZ International B.V.
• Tree Nuts
• Herbs & Spices
• Fruits & Vegetables
• Other Types (Medicinal Herbs)
Sales Channels Covered:
• Direct Sales
End Users Covered:
• Food Service
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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