Raisins Market Size is estimated to reach $3.1 billion by 2027 and is poised to grow at a CAGR of 5.7% over the forecast period of 2022-2027. Raisins are commercially made by drying the harvested grape in various places. Raisins can be consumed in their raw form, cooked, baked or brewed forms. The USDA National Nutrient Database states that raisins are a good source of protein, dietary fiber and carbs. They are incredibly useful for treating hypertension and relieving constipation. One of the main factors propelling the growth of the raisins market is the rising usage of raisins in cooking, including sweet and dessert meals, brewing and a range of other uses. Raisins are also gaining popularity as a result of their health benefits as a potent source of antioxidants, potassium and magnesium riboflavin, dietary fiber, linoleic acid and oleanolic acid. Raisins are also employed in the cosmetic and pharmaceutical industry owing to their malic acid content which exfoliates the skin. To meet the growing demand for raisins and their wide application various research institutes focus on developing new varieties of grapes. For instance, in March 2022, Cornell AgriTech and Sun World International collaboratively developed Sugrafiftytwo, an ultra-early ripening green seedless grape variety and Sugrasixty, a midseason ripening red variety with large berries and a tropical aroma. Such innovations and increasing demand for raisins in the market drive growth of the Raisins Industry over the forecast period 2022-2027.
Raisins Market Report Coverage
The “Raisins Market Forecast (2022-2027)" by Industry ARC, covers an in-depth analysis of the following segments in the Raisins Market.
Key Takeaways
- Geographically, North America held a dominant market share in the year 2021, owing to the developed varieties and better farming techniques surge the growth of the Raisins Market Size.
- The Raisins Market is predicted to increase owing to its growing application in the food and beverage industry.
- However, the fluctuation in production and supply chain limits Raisins Industry growth over the forecast period 2022-2027.
- A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Raisins Market Report.
Raisins Market Segment Analysis - by Product Type
Raisins Market based on the product type can be further segmented into Natural Seedless, Golden Seedless, Black Currant, Sultana, Muscat, Monukka and others. The Sultana segment held a dominant market share in the year 2021. This is owing to the growing popularity of sultana raisins owing to their smaller size, sweet taste, juicer and lighter color. Also, it prevents constipation, reduces blood sugar levels and reduces the risk of developing type 2 diabetes. Such attributes of Sultana raisins drive the growth of the Raisins Market share. However, the muscat is estimated to grow with the fastest CAGR of 6.1% over the forecast period 2022-2027. This is the result of its attributes like a high content of vitamin C, A and K. Also, it helps to lower blood pressure and improve overall heart function. Also, the growing demand for sun muscat raisins fuels the growth of the Raisins Market share over the forecast period 2022-2027.
Raisins Market Segment Analysis - by End-user
Raisins Market based on the end user can be further segmented into Food Industry, Food Service Providers and Households. The Food Industry segment held a dominant market share in the year 2021 and is estimated to grow with the fastest CAGR of 6.4% over the forecast period 2022-2027. This is the result of the growing trend of ‘ready-to-eat’ food, frozen food and healthy snacks. Also, the nutrient content of raisins such as iron, calcium, potassium, manganese and zinc increase their nutritious value such as high riboflavin, dietary fiber, antioxidants, linoleic acid and oleanolic acid. It is mostly used in smoothies, cake mixes, frozen treats and other food and beverage products. Such extensive use of raisins in the food industry fuels the growth of the Raisins Market Share over the forecast period 2022-2027.
Raisins Market Segment Analysis - by Geography
North America held a dominant market share of 36% in the year 2021. This is owing to the high production and growing demand in this region. As per the International Nuts & Dried Fruits Council, the production of dried grapes is anticipated to hike by 6% in 2020/2021 with 2,09,000 MT production and 215 thousand MT consumption. Such high production and growing internal demand drive the growth of the Raisins Market Size. Furthermore, Europe is estimated to grow with the fastest CAGR over the forecast period 2022-2027. This is owing to the high demand for raisins by healthy living consumers and sports people. In 2020 the United Kingdom and Germany are the largest importers of raisins with $208 million and $159 million respectively as per The Observatory of Economic Complexity. Such growing demand for raisins in this region fuels the growth of the Raisins Market Size over the forecast period 2022-2027.
Raisins Market Drivers
Growing Demand for Raisins in International Market Drive Market.
The demand for raisins in the international market of European and American countries is very high owing to their health benefits and content like riboflavin, dietary fiber, antioxidants, linoleic acid, oleanolic acid and others. From September 1st, 2021 to 19th March 2022, Turkey exported 1,42,812 tonnes of raisins which is 8% high compared to the same period of last year as per trading economics. Such rising international demand and growing export drive the growth of the Raisins Industry over the forecast period 2022-2027.
Improved Technology to Produce Raisins to Drive Raisins Market Growth.
Raisins are made up by drying grapes. The traditional practice of sun drying or shade drying took a long time but with improved drying techniques such as hot air drying or microwave drying. Microwave drying has an efficiency of about 70%. As per commodity insight, the maximum price for dry grapes is 18,400 INR per quintal and the minimum rate is 1000 INR per quintal depending on quality. The quality of grapes mostly depends on the drying technique and the advanced drying technique gives a better price, hence producers adopted advanced technology which drives the growth of the Raisins Industry over the forecast period 2022-2027.
Raisins Market Challenge
Fluctuation in Price Range is Hampering Market Growth
The price of raisins depends on various factors including production of availability of workers, demand in the market, logistic cost and others. As per Mundus Agri data published in July 2022, Turkey sells their raisins at price ranging from $1500 per metric tonne, while in Iran it is high at $1800 metric tonne. Such difference in price may limit the growth of the Raisins Industry growth over the forecast period 2022-2027.
Raisins Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Raisins Market. The top 10 companies in the Raisins Market are:
- Murray River Organics Ltd.
- Sun-Maid Growers of California
- Del Monte Foods Inc.
- Dole Packaged Foods LLC
- National Raisin Company
- Mariani Packing Company
- Arimex
- HBS Foods Ltd.
- Bob’s Red Mill Natural Foods
- Newman's Own
For more Food and Beverage Market reports, please click here
