Raisins Market Forecast, Trend Analysis & Competition Tracking - Global Industry Insights 2015 to 2031
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May 2023
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This report was compiled by Correspondence Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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Raisins Market Introduction:
“The global Raisins Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Raisins are dried grapes that are consumed on a large scale across the world. Raisins are produced commercially by drying harvested grape berries in several regions that can be eaten raw or used in cooking, baking, and brewing. Raisin varieties depend on grape types and are made in various sizes and colors, including green, black, blue, brown, and yellow. Seedless varieties include the sultana, the Greek currants, and Flame grapes. Sun-drying is the traditional method for preparing raisins, but they can also be water-dipped and artificially dehydrated.
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Global Raisins Market Revenue Outlook:
The global raisins market was valued at US$ 2,315.25 Mn in 2020 and is projected to register а САGR of 5% by 2031.
Nonetheless, various industry players in the global raisins market are now increasing their focus towards the establishment of successful collaborations, acquisitions, and joint venture activities as a means to enhance their respective customer bases in rapidly developing economies. In doing so, these players are also increasing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.
How The Demand For Raisins Is Increasing?
The changing food habits, due to the increasing urbanization and the desire for new taste preferences, are some factors expected to fuel the target market growth. Hectic lifestyles and round-the-clock working hours, coupled with increasing demand and higher preference for ready-to-eat food items, dried and frozen products, and healthy snack options, are rapidly gaining traction across the globe. Also, incorporating various nutrients and flavors and its extended shelf life properties gives it an additional advantage. These are significant factors increasing the growth of the global raisins market.
COVID-19 Impact On The Raisins Market
The COVID-19 pandemic has resulted in the slowdown of critical trade activities across several countries. The onset of this given pandemic has affected respective supply chains of companies across the world. As major economies experienced precautionary manufacturing lockdowns, a considerable gap between market supply and demand was created, making it difficult for manufacturers and distributors to manage their supply operations. This is a primary factor that is expected to negatively influence future revenue growth prospects of the raisins market.
China is Afghanistan’s second-largest exporter of goods, but a large number of shipments have been delayed, which also impacted the local market in Afghanistan. The reduced supply from China has caused prices to rise in most markets. In Bangladesh, sellers of Chinese apples and raisins also faced a similar problem.
Key Challenges To The Raisins Market
Availability of alternatives to raisins such as dried currants, prunes, dried cranberries, dried cherries, dried apricot, dried pineapple, etc., is expected to hamper the revenue growth and demand for raisins from several food processing industries. These products can be finely minced to reduce them to raisin size and offer an exciting twist on the usual flavor. Additionally, government regulations or standards for import/export food products are a factor that is expected to hamper the revenue growth for this target market.
Key Trends Observed In The Raisins Market
Increasing focus on growth strategies such as new product launches, mergers & acquisitions, partnerships, higher investments for product enhancements, etc., are trends currently witnessed in this market. Increasing new product innovations in the bakery industry are also slated to amplify prospects for additional revenue growth in the coming years for this target market.
Regional Analysis
Asia-Pacific is expected to have a significant market share, among others
Revenue from the target market in Asia-Pacific is estimated to expand significantly during the forecast period due to festival and gifting culture in developing countries. On the other hand, emerging countries such as China and India are expected to witness a significant increase in demand for sweet dried fruit during the forecast period. This is attributed to substantial growth in disposable income and increasing awareness of health consciousness among the consumers in this region.
Top raisin-producing countries in 2020
- Turkey
- United States
- Iran
- India
- China
- Uzbekistan
- Chile
- South Africa
- Argentina
Competitive Landscape
Some of the major leading players operating in the raisins market are mentioned below:
- Sunbeam Foods Pty Ltd.
- Traina Foods Inc.
- Lion Raisins Inc.
- Del Monte Foods, Inc.
- Dole Packed Foods LLC
- Sunsweet Growers Inc.
- JAB Dried Fruit Products (Pty) Ltd
- Sun-Maid Growers of California
- Bergin Fruit and Nut Company Inc.
- Decas Cranberry Products Inc.
- Ocean Spray Cranberries Inc.
- VKC Nuts Pvt Ltd.
- Other Key Industry Players
Some notable developments in the market include:
- Chilean grapes and raisins have gained popularity in more and more countries, and their export volumes increase year by year.
- China is one of the fastest-growing markets for Chilean grapes. The imported volume of Chilean grapes in 2020 increased by 33% compared to 2019.
- In June 2021, Kashi Launches New Simply Raisin Biscuit Cereal With Zero-Grams-Added-Sugar.
Report Scope
- Forecast Period: 2022-2031
- Actual Year: 2021
- Historical Data Available for: 2015-2020
Key Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Segments Covered
Raisins Market, By Nature
- Organic
- Conventional
Raisins Market, By Product Type
- Natural Seedless
- Golden Seedless
- Black Currant
- Sultana
- Muscat
- Monukka
Raisins Market, By End-User
- Food Industry
- Food Service Providers
- Households
Raisins Market, By Distribution Channel
- Hypermarket/Supermarket
- Convenience Stores
- Online Stores
- Other Distribution Channels
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn To learn more about this report, request for Sample Report
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- Sunbeam Foods Pty Ltd.
- Traina Foods Inc.
- Lion Raisins Inc.
- Del Monte Foods, Inc.
- Dole Packed Foods LLC
- Sunsweet Growers Inc.
- JAB Dried Fruit Products (Pty) Ltd
- Sun-Maid Growers of California
- Bergin Fruit and Nut Company Inc.
- Decas Cranberry Products Inc.
- Ocean Spray Cranberries Inc.
- VKC Nuts Pvt Ltd.
- Other Key Industry Players