The global fresh onions and shallots market is valued at US$ 42.1 billion in 2023 and is forecasted to exhibit expansion at 5.4% CAGR over the next ten years. As such, global demand for fresh onions and shallots is projected to accumulate an approximate revenue of US$ 71.5 billion by 2033-end.
Growing world population, increasing globalization, the rising popularity of different cuisines, changing consumer preferences, rising investments in research to explore different applications of onions, and high per capita disposable income are some factors that could potentially promulgate fresh onion and shallot sales throughout the forecast period.
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5 Forecast Highlights on Global Fresh Onions and Shallots Market
1- Asia-Pacific Excluding Japan (APEJ) is expected to dominate the global fresh onions and shallots market. APEJ fresh onions and shallots market is projected to surpass US$ 20,700 million revenue by the end of 2022. Owing to the largest production of onions and shallots, Asia Pacific is witnessing the growth.
2- Europe is also likely to witness above-average growth in the global fresh onions and shallots market. The most common types of shallots grown in the region are atlas, pikant, and Ed’s red type. Moreover, the grey type of shallots is widely grown in the southern France. Red and yellow onions are also widely used in European cuisines.
3- Red onions are expected to be the highly preferred product in the global fresh onions and shallots market. By the end of 2022, red onions are projected to bring in nearly US$ 15,400 million revenue. Meanwhile, yellow onions are also expected to account for nearly one-third of the revenue share by the end of 2017.
4- Whole fresh onions and shallots are expected to emerge as the most preferred form as compared to fresh onions and shallots in form of slices, rings and chopped. Whole fresh onions and shallots are projected to create an incremental opportunity more than US$ 8,400 million between 2017 and 2022.
5- Application of fresh onions and shallots is expected to be the largest in culinary. Culinary is estimated to surpass US$ 21,200 million revenue by the end of 2022.
The report has also profiled leading players in the global market for fresh onions and shallots, which will remain active through 2022. These include companies such as Avantha Holdings Limited, Gills Onions, LLC, JC Watson Company, Murakami Produce Company LLC, River Point Farms Llc, Snake River Produce Co. Llc, T&G Global Ltd, and Vladam FG.
Competitive landscape:
Top fresh onion and shallot suppliers are focusing on collaborations and partnerships to expand their business scope and gain a competitive advantage over other market players.
- In January 2023, Fresh Express Incorporated, a subsidiary of Chiquita Holdings Limited, announced that it entered into an agreement to purchase Dole’s Fresh Vegetables Division for a sum of around US$ 293 million in cash.
Key Segments of Fresh Onions and Shallots Industry Research:
· By Product Type :
- Yellow Onions
- Red Onions
- White Onions
- Spring Onions
- Sweet Onions
- Shallots
- Other Product Types
· By Form :
- Whole
- Slices
- Rings
- Chopped
- Minced
- Other Forms
· By Application :
- Culinary
- Soups, Sauces, and Dressings
- Snacks & Convenience Foods
- Bakery Products
- Fast Food Restaurant Chains
- Meat & Poultry Products
- Other Applications
· By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Questionnaire answered in the Market outlook Report of Fresh Onions and Shallots include:
- What is the key strategy deployed by large players to maximize Fresh Onions and Shallots Market growth?
- What are the main challenges faced by players in the Fresh Onions and Shallots market Demand?
- With the advent of technological advancement, how will the Fresh Onions and Shallots market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Fresh Onions and Shallots market size?
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