Market Highlights
Global Raisins Market is estimated to be valued at USD 2,782.2 Million by 2026, registering a CAGR of 4.77% during the forecast period. The rising demand of raisins can be attributed to its increased usage for culinary purpose. Raisins are made from dried black or green grapes that are sweet and fruity and used in several sweet and savory recipes. The health benefits associated with the consumption of raisins is driving its usage in cooking and baking. Raisins are used in various foods, from sweet bread and desserts to savory dishes found in cuisines throughout the world.
Europe was the largest market for raisins in 2019, and the region is expected to continue to dominate the global market during the review period. Germany was the largest country-level market with a share of 22.14% in 2019. However, Italy is projected to register substantial growth rate during the study period. Increasing consumer preference for organic and healthy food is anticipated to boost the demand for the raisins in Europe.
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The global raisins market is expected to register a notable growth rate during the forecast period. Growth of the organized retail sector in Asia-Pacific is another key factor supporting the growth of the global raisins market. Asia-Pacific is considered as the key market globally as it offers excellent growth prospects for the raisins market. Rising consumer preference for organic products is expected to offer numerous growth opportunities to the market players during the upcoming years. It has been observed that the demand for organic products has grown tremendously in most of the developed countries in the past few years. However, side effects of consumption of raisins may hamper the growth of the Global Raisins Market.
Segmental Analysis
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. The conventional segment accounted for a larger market share in 2019. The segment is expected to exhibit a slower growth rate during the forecast period owing to the shifting consumer preference towards organic food and ingredients. However, the organic segment is projected to be a faster-growing segment during the forecast period.
Based on packaging type, the market has been segmented into pouches, jars & bottles, and others. The pouches segment accounted for the largest market share in 2019 and is expected to register the highest CAGR during the forecast period.
Based on distribution channel, the market has been segmented into store-based and non-store based. The store-based segment has further been divided into supermarkets & hypermarkets, convenience stores, and others. The supermarkets & hypermarkets segment is projected to be the fastest-growing sub-segment during the review period. Convenience stores also play a significant role in the distribution of raisins. However, the non-store-based segment is projected to exhibit a higher growth rate during the review period.
Regional Analysis
Geographically, the Global Raisins Market has been segregated into North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, Europe accounted for a dominant share of the global market in 2019, with Germany being the major consumer of raisins. Moreover, it is expected to be the most lucrative regional market for raisins manufacturers during the review period. The market in Asia-Pacific also accounted for a significant share in 2019. China is a key contributor to the growth of the raisins market in the region. The increasing consumer preference for organic and healthy food is anticipated to boost Europe’s market growth during the forecast period. The Rest of the World is projected to register a CAGR of 4.65% during the forecast period.
Key Players
Market Research Future recognizes 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) are the Key Players in the Global Raisins Market.
Key Findings of the Study
Global Raisins Market is expected to register a growth rate of 4.77% from 2020 to 2026.
The conventional segment is estimated to register the highest growth rate during the forecast period.
Based on the packaging type, the pouches segment is expected to hold the largest market share during the forecast period.
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