Market Overview
Global Raisins Market is slated to register a CAGR of 4.77% to reach USD 2.78 billion by 2026.
Market Dynamics
The growing use of raisins in culinary applications is a major factor leading the global raisins market forward. A health-conscious public is favouring sugar alternatives in recipes, which is boosting sales of raisins for culinary use. Raisins' use in cooking and baking is being motivated by the nutritional benefits associated with their consumption. Raisins can be used in a wide range of recipes, from sweet breads and cakes to savoury dishes in cuisines all over the world. Another main factor driving the global raisins market during the forecast period is the growth of organised retail industries in Asia-Pacific, which makes the commodity easily accessible to a broad population from both online and offline platforms. Rising customer appetite for organic goods is projected to provide industry participants with several sustainable growth opportunities in the coming years. In the last few years, it has been noted that demand for organic goods has increased dramatically in most developing countries. Furthermore, the negative effects of raisins consumption may limit the global raisins market's growth.
The COVID-19 pandemic has had an effect on people all over the world, with the number of cases increasing every day. The effect of a pandemic varies by industry. In this pandemic situation, the raisins industry is suffering a demand and supply gap. Due to transportation restrictions and lockdown in some areas, farmers started drying grapes at the vineyard to raise revenue from raisins. The supply of raisins has risen as a result, but the demand side of the industry is not keeping up. Because of trade demand obstacles, the supply chain for raisins has come to a halt in the pandemic scenario, hurting the overall raisins market.
Market Segmentation
Global Raisins Market has been segmented based on Category, Packaging Type, Distribution Channel, and Region.
By category, the market has been divided into conventional and organic. In 2019, the traditional division had a bigger Raisins market share. Because of the changing market demand for organic food and ingredients, the segment is projected to rise at a slower pace during the forecast period. During the prognosis period, however, the organic segment is expected to rise at a faster pace.
Based on packaging type, the market has been segmented into pouches, jars & bottles, and others. In 2019, the pouches segment had the largest market share, and it is projected to grow at the fastest rate throughout the forecast period.
Based on distribution channel, the market has been segmented into store-based and non-store based. During the study period, the fastest-growing sub-segment is predicted to be supermarkets and hypermarkets. The distribution of raisins is also heavily influenced by convenience stores. During the review period, however, the non-store-based segment is expected to expand at a faster pace.
Competitive Landscape
The Prominent Players operating in the Global Raisins Market include Murray River Organics Ltd (Australia), Sun-Maid Growers of California (US), Del Monte Foods, Inc. (US), Dole Packaged Foods LLC (US), National Raisin Company (US), Mariani Packing Company (US), Arimex (Europe), HBS Foods Ltd (UK), Bob’s Red Mill Natural Foods (US), and Newman's Own (US). To boost their market share and capture a broad customer base, players in the global raisins market are focused on acquisitions, product releases, and expansions.
Regional Overview
In 2019, Europe was the world's largest market for raisins, and this trend is projected to continue through the study period. With a share of 22.14 percent in 2019, Germany was the largest country-level market. Italy, on the other hand, is expected to develop at a rapid pace during the study period. The demand for raisins in Europe is expected to increase as consumer tastes for organic and healthier foods rise.
Another important factor driving the global raisins demand is the expansion of the integrated retail sector in Asia-Pacific. Asia-Pacific is recognised as the world's most important market for raisins, with outstanding growth potential. Increasing customer demand for organic goods is projected to provide market players in the area with multiple growth opportunities in the coming years. In recent years, it has been observed that demand for organic products has increased dramatically in most developing countries, such as India and China.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
