Global Raisins Market - 2022-2029

Global Raisins Market - 2022-2029:

Market Overview

Raisins Market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 4.94% during the forecast period (2022-2029).

Raisins are dried grapes, and their nutritional value is comparable to that of grapes. Both grapes and raisins are strong in antioxidants; however, raisins contain more antioxidants than grapes due to the drying process, which preserves the antioxidants. Raisins are commercially made by drying harvested grapes in various places, and they can be consumed raw, boiled, baked, or brewed. Raisin variants are also determined by the variety of grape used to create them. Raisins come in a variety of sizes and hues, including green, black, blue, yellow, and brown. Thus, owing to these benefits raisins are highly preferred by food & beverage industry. Furthermore, increased number of vegan people who prefer plant-based products is creating numerous opportunities to the market.

Market Dynamics: Increasing health consciousness among consumers is driving the growth of the raisins market

As the wave of health consciousness has inundated the food & beverages industry with highly nutritious products, raisins market is acquiring a unique position in this space. The raisin consumption remains robust in households, sprung in the number of working individuals has especially spawned innovative offerings with raisins as essential ingredient, across different sectors of the food industry.

In addition, natural and functional food ingredients have captured significant consumer attention in the recent past, which is leading to increased inclusion of raisins in various processed food products, such as breakfast cereals and ready-to-eat meals, which is strongly backed by their high nutritional profile. Thus, owing to these factors and raisin attributes and the subsequent progress of the market, raisin manufacturers are focusing on strengthening the sales of their products through direct distribution channels. Apart from adopting product innovation strategies, key players in the raisins market are emphasizing their participation in various food fairs and conferences as a branding strategy to improve relations with other key stakeholders and solidify their position in the market. Thus, the increased awareness about the health benefits and nutritional value of raisins ultimately has increased the production capacities in the market, which has added to the growth of the market.

However, raisins are also associated with some side effects such as diabetes, cancer and others which is expected to restraint the growth of the market.

Market Segmentation: Organic segment accounted for the highest share in global raisins market

In 2021, the organic raisins segment had the highest revenue share of more than YY percent. Organic raisins has been the most preferred choice of consumers due to the growing demand for organic and chemical free food products globally, coupled with a rise in demand for highly nutritious products along with good taste.

In 2021, the direct channel segment had the highest revenue share of more than YY percent. This is due to the easy availability of products on direct channels and availability of various discount offers. The key manufacturing companies focus on establishing the online product availability. Various companies also offer products on their own websites and through various channels. In addition, various companies also introducing various snacking items made with raisins with innovative flavors to attract the consumer thereby are propelling the market's growth.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of almost YY percent as raisins are produced extensively in North America. Increased consumption of healthy products in U.S. is driving the growth of the market.

Competitive Landscape:

The global raisins market is competitive and comprises players such as Sun-Maid, Archer Daniels Midland Company, Murray River Organics Ltd, H.B.S. Foods Ltd, Arimex, National Raisin Company, Mariani Packing Company, Dole Packaged Foods LLC, Del Monte Foods, Inc., and Bob’s Red Mill Natural Foods. among others. The raisins market competitiveness is estimated to increase over the forecast period as the key players focus on various strategies such as agreements and product innovation for various applications. Moreover, rising research and development activities of product innovation for vegan people and consumers' preference for natural forms of products are also expected to propel market growth.

COVID-19 Impact:

Negatively impacted the global raisins market

The COVID-19 pandemic has adversely affected the economies of various countries due to lockdowns, business close, and travel bans. Food and beverages is among the major industries suffered from intense disruptions such as restrictions on the supply chain and the shutdown of warehouse plants.

In addition, the shutdown of companies, warehouses, factories production facilities in various countries has disrupted the global supply chains. It has negatively impacted manufacturing activities, delivery schedules, and various goods sales. Multiple companies have already announced possible delays in product deliveries and a decline in future sales of their products.

Furthermore, the import-export restrictions imposed by governments in various regions such as North America, South America Asia, and Europe are hindering geographical expansion, business collaboration and partnership opportunities. Thus, these factors are hindering the growth of the raisins market in the food and beverage industry.

The global raisins market report would provide an access to approximately 53 market data tables, 40 figures and 172 pages.