The Raisins Market is anticipated to reach USD 2979.4 Million by 2030 at 4.81% CAGR during the forecast period 2021-2028. The global raisins market is an ever-increasing space mainly due to the range of nutritional benefits that raisins can offer. These dried grapes are naturally sweet in flavor and are widely used in cultural cooking around the world, especially in desserts. Raisins have also been known for aiding in a positive impact on eyes, teeth, and hair as well as for a healthy weight gain. Alongside improved digestion, other health benefits of raisins include bone health, iron levels, acidosis, fever, and sexual dysfunction.
These health benefiting factors alongside the high consumption of raisins for culinary use act as a key tailwind pushing up the growth of the market. Raisins also make a healthy addition to the diets of elite athletes with a line of nutritional products meeting the needs of athletes. The Raisins market witnesses a significant rise in the number of market players. That presages the constant increase that the market is on, meeting the exceeding consumers’ demand.
Acknowledging the enormous growth, the market is witnessing currently, Market Research Future (MRFR), in its recently published study report asserts that the global Raisins market is expected to garner exponential growth by 2028, posting a fabulous CAGR during the forecast period (2021-2028). The market is witnessing an upsurge in the growth with the increasing sales from the past few years. Raisins are widely preferred among the health-conscious people who are also completely switching to raisins-based allulose as a sweetener. Conversely, factors such as the gap in the demand and supply of the product are impeding the growth of the market. Nevertheless, factors such as the increasing uses of Raisins in various health supplement products are expected to support the growth of the market.
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Global Raisins Market– Segmentation
For ease of understanding, the analysis has been segmented into four key dynamics:
By Category : Organic and Conventional.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Raisins Market– Regional Analysis
The European region, heading with the highest consumption of the dried grapes would retain its dominance over the global Raisins market throughout the forecast period. Well-spread awareness towards the health benefits of dried grapes has steadied the consumption volume of raisins, felling meaningfully over the past couple of years. Increased sales have empowered the growers to economize out complete sales growth.
In Europe, raisins are considered as a healthy snack and are also extensively used as a food ingredient in many baked products and dietary products. Moreover, dried grapes are increasingly used as a natural substitute for sugar as well. Also, the changing consumer preference towards healthier food alternatives is a key factor which as a result, has turned into recorded consumption of raisins especially in Germany and the U.K.
The raisins market in the Asia Pacific region is another lucrative market, globally. The region is the largest producer and second-largest consumer of dried grapes. Some of the APAC countries like Indonesia, China, and India with their largest consumption of the product in the rich traditions of culinary practices and Ayurveda account for the major contributor to the growth of the regional market.
Factors such as the increasingly health-conscious consumers switching to the consumption of plant food and the growing demand for dried fruits, baked products, and desserts are expected to fuel the growth of regional raisins market during the forecast period.
Moreover, the rapidly changing lifestyle of people influenced by the growing economy in the region is leading to the adoption of a healthy diet and hence, the market growth of Raisins in the region. Export of Raisins in the well-developed countries is found to be on the rise at a steady growth rate.
North America Raisins market is expected to resurge, emerging as a promising market. Factors boosting the growth of the regional market include the changing consumer preference towards healthier food alternatives, high per-capita income, and the presence of a well-established health supplement industry among others.
Global Raisins Market– Competitive Analysis
Highly competitive, the Raisins market appears to be fragmented characterized by the presence of several small and large-scale players. Matured players incorporate strategic initiatives such as partnership, acquisition, collaboration, product launch, and expansion to gain an edge over their competitions and thus to maintain their positions in the market. The competition in the market is like to intensify further with the regulatory approvals for raisin-based Allulose.
Producers are being innovative while finalizing a packaging design. They are trying the latest trends of attractive packaging materials such as PET jars and pouches. Manufacturers of these packaging solutions are using durable yet ductile, affordable, and sustainable packaging solutions.
Key players leading the global Raisins market are Arimex (Lithuania), Archer Daniels Midland Company (U.S.), H.B.S. Foods Ltd (U.K.), National Raisin Company (U.S.), Murray River Organics Ltd (Australia), Sun-Maid (U.S.), Dole Packaged Foods LLC (U.S.), Mariani Packing Company (U.S.), Bob’s Red Mill Natural Foods (U.S.), and Del Monte Foods, Inc. (U.S.) among others.
Industry/ Innovation/ Related News:
April 16, 2019 –-- Sun-Maid Growers (the U.S.), a privately-owned cooperative of raisin growers and the world’s largest raisin & dried fruit processor announced that their hired PR AOR- Havas Formula, an US media company is very well handling its Grow Young campaign, targeting young audiences. Sun-maid is going through a "significant transformation" inside and out, reigniting its communications strategy in January with a national marketing campaign called Grow Young, aimed at millennials. Hence, the company had decided to hire Havas Formula as PR AOR in January 2019.
Havas team is managing the national and regional program, which includes media relations, thought leadership, traditional and social influencers, events and brand-building initiatives such as surveys. Havas Formula SVP Tara Reid is leading a team of five on the account.
April 15, 2019 –The US FDA issued draft guidance for allulose products. Products using allulose can exclude its sugar content from the total and added sugars declaration on nutrition information packaging. This new low-calorie sweetener promises all the flavor and comfort of real sugar without the drawbacks, and the FDA is taking notice. Allulose (D-psicose), a “rare sugar” that naturally occurs in small amounts in wheat, figs, and raisins doesn’t cause dental decay and has about 0.4 calories per gram which are about one-tenth the calories of table sugar.
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