The global raisins market is wide-spread, competitive, and fragmented.
The food manufacturing companies are following customer centric approach to
gain the competitive edge in the global raisin market, says Transparency Market
Research (TMR). These companies are focusing on introducing organoleptic
properties in raisins as a strategy to penetrate into the global raisins
market.
With emergence of organic food industry, these companies are focusing on
introducing natural raisins keeping health at the forefront. They are also keen
on introducing innovative s and value-added products in the global market for
raisins. Some of the prominent players in the global raisins market include
Sunbeams Foods Pty Ltd, Sun-Maid Growers of California, Decas Cranberry
Products, Inc., Bergin Fruit and Nut Company Inc. and Kiantama Oy.
Due to fast-paced life people are adopting fast and nutritious breakfast
options. Cereals such as cornflakes, rice flakes, and muesli, etc. contain dry
fruits such as almonds, walnuts, and raisins. Rising demand for cereal-based
breakfast is expected to provide growth opportunities to the global raisins market.
The global raisins market is expected to increase at a 5.4% CAGR during the
forecast period 2018 to 2026.
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In terms of geography, the global
raisins market is expected to be dominated by Asia Pacific. The growth can be
attributed to rapid urbanization, changing lifestyle, and rising presence of
players involved in the industry. The global raisins market is segmented into
natural seedless, golden seedless, monukka, sultana, muscat and black currant.
But, natural seedless raisins is expected to register a higher growth during
the forecast period. This is mainly due to consumer preference and growing
demand for the same.
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Cakes
& Bakes Industry to Provide Impetus to Global Raisins Market
Large number of food manufacturers and bakers add raisins to their
products to enhance the taste and smell of the products. Raisins are the most
common dry fruit added to various recipes. This increases the demand for
raisins across the globe. Thus, pushing the global raisins market towards
expansion during the forecast period. Additionally, bakers use raisins to
improve the texture of their baked cakes and cookies. Therefore, it results in
higher demand for raisins, owing to growth in the global raisins market.
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Moreover, raisin is one such dry fruit that can act as a substitute in
any recipe that requires any other dry fruit. Such a versatile feature of
raisins nudges the global raisins market to achieve growth during upcoming
years.
Convenience Food to Boost Growth in Global Raisins
Market
Changing and busy lifestyle calls for ready-to-eat and convenience food.
The food and beverage companies add raisins to such ready to eat food,
smoothies, sweets, and savories. This creates a huge demand for raisins in the
global market. High consumption of ready to eat and convenience food provides
impetus to growth in the global raisins market. Furthermore, people always look
for nutritious food on-the-go, so raisins are largely incorporated in granola
bars and protein bars. Raisins are also added as a flavoring and taste
enhancing agent in chocolates. Juice extracted from raisins can be incorporated
in dips, sauces, and marinades. Further, this juice or raisins can be added as
a topping or a flavor to ice-creams, flavored yogurt, etc. Thus, rising
demand for such products expected to direct the global raisins market to expand
during the forecast period.
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