The global butternut squash market size is expected to foresee significant growth owing to growing demand for super-foods from health-conscious people across the globe. Fortune Business Insights, in its latest report, titled “Butternut Squash Market Size, Share & Industry Analysis, By Form (Puree Form, Frozen Form, Fresh Form), By Distribution Channel (Offline Sales, Online Sales) Others and Regional Forecast, 2019-2026.”, predicts significant growth for the market in the forthcoming years.
Some of the leading players operating in the Global Butternut Squash Market includes;
- Stonehill Produce,
- JDM Food Group,
- Harris Seeds,
- Stahlbush Island Farms,
- Mackenzie, and ALDI.
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Butternut squash is among the exotic vegetables popularly known as butternut pumpkin across New Zealand and Australia. Typically, an orange-fleshed winter squash, it gives a sweet and nutty flavor when consumed. In addition to this, an ideal climate of 18 degree to 27 degree Celsius is required for optimum growth of the vegetable. Furthermore, they are termed as super-foods owing to immense nutritional benefits and presence of high fibers when included in the diet. Moreover, they are high in other nutritional properties as they contain manganese, potassium, Vitamin C, and magnesium that are beneficial to overall development for human body.
Major Segments includes:
- Puree Form
- Frozen Form
- Fresh Form
By Distribution Channel
- Offline Sales
- Online Sales
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What does the Report Include?
The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations and are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
Drivers and Restraints:
Increasing Consumption of Super-Foods to Spur Demand
The word Superfood in itself appeals to the majority of people that assume to the fact that such foods are healthy for consumption and offer several desirable nutrients in the diet. Widespread use of superfoods across the globe is anticipated to drive the growth of the market during the projected horizon. For instance, according to a survey by Nielson, consumers are ready to shell out extra money for the foods that are labelled healthy. The presence of antioxidants and several other micronutrients in butternut squash is expected to drive the growth of the market in the forthcoming years.
However, butternut squash is grown in limited number of countries that may restrict the market growth to some extent during the forecast period.
Economic Impact Worrisome for Farmers amid COVID-19
The global crisis owing to rampant spread of novel coronavirus, COVID-19 has left several farmers struggling. For instance, farmer couple Dean and Betsy Brightly who run Brightly farms in Hamlin are stressed over recent turn of events. The catastrophe for them has meant that hundreds of tons of butternut squash is lying in the cold storage with several restaurants and schools closed. However, timely government intervention to strike a fine balance between public health safety and getting the economy back on track may restrict the ill effects of the crisis accordingly.
High Consumption of the Product in North America to Boost Demand
Among the regions, North America is anticipated to remain dominant and register high butternut squash market revenue during the forecast period. This is ascribable to factors such as high consumption of the product owing to its health benefits. Additionally, availability of butternut squash in both wet and dry season in countries such as the U.S. and Mexico in Europe will positively affect the market growth during the projected horizon. The market in Europe will witness substantial growth owing to rising import of the product and the manufacturers developing new and innovative food products between 2019 and 2020.
Papa John Launching New Product Line to Favor Growth
In January 2020, the famous American Pizza giant, Papa John’s, announced its launch of new pizza base made out of butternut squash. According to the restaurant, the base is specially prepared for people who prefer gluten-free products. This move is expected to strengthen its position in the global market place. Adoption of strategies such as novel product launches, collaboration, and joint ventures by the companies will aid the market growth in the forthcoming years.
- September 2019: ASDA, a Britain-based supermarket-retailing giant, announced its launch of new vegan healthy BBQs that include Butternut Squash, Sweet Potato, and Red Pepper burgers for its customers to relish during the summer.
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