U.S. Processed Pumpkin Market Size, Share & Trends Analysis Report By Product (Dried, Puree, Concentrates), By Application (Bakery, Beverages, Snacks, Desserts, Baby Food), And Segment Forecasts, 2021 - 2028
U.S. Processed Pumpkin Market Growth & Trends
The U.S. processed pumpkin market size is expected to reach USD 2.22 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.5% from 2021 to 2028. The increasing application of processed pumpkin in the form of powder, puree, and chunks in several food processing sectors, including bakery, beverages, smoothies, confectionary, baby foods, dairy, and frozen products, is driving the market demand.
Rising awareness about the nutritive value of pumpkin and a gradual shift towards healthier diets among the consumers to maintain their body weight, meet their nutritional requirements and prevent chronic diseases are expected to propel the market growth. According to a report published by the International Food Information Council (IFIC) Foundation and the American Heart Association, 95% of consumers in the U.S. sometimes or always seek healthy food choices.
Dried pumpkin emerged as the largest product segment in 2020. This is attributed to its wide consumption in the food services sector, such as bakery and quick-service restaurants, to cook dishes instantly. Moreover, as dried pumpkin is intact with several nutrients such as Vitamin A, C, E, and B12, it is highly popular among retail consumers for home use as it helps in making quick meals at home with no food preparation time.
In terms of application, the bakery segment held the largest share in the U.S. market in 2020. A large variety of beverages are made from purees, including smoothies, cocktails, mocktails, and juices. These offer a pure and natural taste along with a full-bodied mouthfeel. Major beverage companies such as Starbucks have launched pumpkin spice-infused coffee in the U.S. market owing to the rising consumer demand for healthy beverages.
Key players in the industry have been moving strategically to enhance their customer bases. For instance, in September 2019, Z Natural Foods, LLC announced to launch its new line of Organic Pumpkin Powder to cater to the rising demand for the superfood among the consumers in the U.S. These kinds of product launches are anticipated to boost the pumpkin product visibility in the U.S.
In August 2020, Starbucks Corporation announced to officially launch Starbucks Pumpkin Spice products. This new line of pumpkin products includes Starbucks Pumpkin Spice Flavored Creamer, Pumpkin Spice Flavored Coffee - K-Cup pods and Roast & Ground, VIA Instant Pumpkin Spice Flavored Latte, and Starbucks RTD Iced Espresso Classics Pumpkin Spice Flavored Latte.
U.S. Processed Pumpkin Market Report Highlights
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