ALBANY, New York, March 20, 2019
ALBANY, New York, March 20, 2019 /PRNewswire/ -- Transparency Market Research (TMR) predicts that the global raisins market has the highest degree of competition. Key players such as Bergin Fruit and Nut Company Inc., Sunbeam Foods Pty Ltd., Sun-Maid Growers of California, Geobres Nemean Currants and Sultana Raisins S.A., and Decas Cranberry Products, Inc. are some of the players dominating the global raisins market. The level of competition is increasing as numerous local players are operating in the raisins market. Additionally, few countries are least producers of raisins, thus being major importers. Key players are trying to tap these opportunities by expanding their business to these countries.
According to TMR, the global raisins market valued at US$ 2,177.1 mn in 2018 and is expected to grow at a CAGR of 5.4% over the forecast period from 2018 to 2026.
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Based on the application, the food industry segment is dominating the global raisins market. Thanks to growing awareness about health benefits due to raisins is expected to help the segment to remain dominant over the forecast period. Based on region, Europe holds a dominant share of 35% in 2018 and is expected to remain largest shareholder. However, Asia Pacific is expected to show faster growth in the global raisins market over the forecast period, compared to Europe.
Growing Awareness about Health Benefits to Propel Market's Growth
Raisins are a rich source of resveratrol, catechins, isoflavones, beta-carotene, lutein-zeaxanthina, and Crypto-xanthin-ß, which are potent antioxidants. Raisins are helpful in cancer patients during their treatment.
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The global raisins market is gaining traction due to growing awareness about health benefits due to the consumption of raisins. Additionally, busy lifestyles and an increasing number of working people have increased demand for nutrient-rich and convenient food products. Thanks to the high nutritional value of raisins, the demand for raisins is growing substantially, which in turn is driving growth of the raisins market. Furthermore, manufacturers are adopting raisins in bakery products and food & beverages, thereby benefiting growth of the raisins market. In addition, demand for food items, which fulfill the demand for products with phytochemicals is boosting raisins market. Likewise, phytochemicals and phenolic compounds present in food products are considered as very important antioxidants. From an overall perspective, growing awareness about such high quality raisins is driving growth of the global raisins market.
Growing Adoption of Raisins in Ready-To-Eat Food to Propel Market Growth
Countries such as Turkey, the US, China, Iran, and Chile are some of the major producers of raisins. The players in these countries are looking forward to improve shelf life of products by adopting new methods and techniques. They are also offering the seedless products for attracting a large consumer base. The ease of using seedless raisins in numerous applications is encouraging their use in various industries for enhancing taste, aroma, and texture of foods. The aforementioned factors are encouraging growth of the global raisins market. This is likely to remain as a key factor driving growth of the global raisins market.
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However, the high cost of raisins across numerous countries and mainly in the cost-sensitive countries and developing countries is restraining growth of the global raisins market. End with a positive point over here.
This information is encompassed in the report by TMR, titled, "Raisins Market (Product Type - Natural Seedless, Golden Seedless, Black Currant, Sultana, Muscat, Monukka; Nature - Organic, Conventional; End User - Food Industry, Food Service Providers, Households; Distribution Channel – B2B, B2C) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026"
For the study, the raisins market has been segmented as follows:
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