The global packaged currants market is expected to be worth US$ 979 million in 2023 and US$ 1.2 billion in 2033. Demand for packaged currants is expected to record a steady 4.8% CAGR, with the United Kingdom, the United States, China, and India becoming key producers.
Market Growth is expected to be Fueled by a rise in Online Shoppers
Market growth is expected to be sped up by the growing number of people who shop online. The product is used as a food supplement and for medical purposes, which is expected to drive market growth. It’s easy to find online, and buying it only takes a few steps. Also, the product can be used to replace fresh fruits. The product can improve cardiovascular health and lower the risk of stroke and high blood pressure. Such benefits are expected to speed up the market’s growth. It’s also used to treat skin problems like psoriasis, acne, and others. It helps treat obesity and arthritis. The growth of the packaged currants market is expected to be boosted by these factors in the coming years.
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Higher Demand for Packaged Food Products
Market growth is expected to be boosted by the growing demand for packaged food products around the world. The product is widely used to help people lose weight and get other health benefits. It is used to relieve digestive problems like constipation. The product is also used to strengthen muscles and treat stress, depression, and anxiety. The product is widely used in jams, cakes, and other foods. Market growth is expected to be sped up by the high demand for treatments for diseases like chronic cough and others. The market is expected to grow because people are becoming more aware of how important it is to keep their collagen levels up and their spending power is growing. Also, the product is used to strengthen the immune system and lower the risk of cancer cells forming. The packaged currants market is expected to accelerate in the coming years due to these factors.
Key Takeaways
- The trend of consumers seeking out organic and natural products has extended to packaged currants, leading to a rise in demand for organic and natural options in the market.
- As busy lifestyles continue to dominate, consumers are increasingly seeking out on-the-go snacking options. This has led to an increase in demand for snack packs and portion control packaging, providing convenience and portion control.
- Currants are gaining popularity as versatile ingredients, which has increased demand for packaged currants in various food and beverage applications, including baked goods, jams, jellies, and smoothies.
- Companies are leveraging the power of technology and e-commerce channels to market and distribute their packaged currants, enabling them to reach new audiences and increase sales.
- Currants are being used for their various health benefits, which has led to an increase in demand for packaged currants in traditional medical applications.
- Companies are becoming more conscious of the impact their packaging has on the environment and are therefore investing in eco-friendly packaging materials, such as biodegradable and recyclable options, to meet this growing demand.
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Competitive Landscape
The competitive landscape in the packaged currants market is characterized by huge established players and surging startups.
Established players in the market have strong brand recognition and a loyal customer base. They have well-established distribution networks, wide product portfolios, and significant financial resources. A few prominent players in the market include Ocean Spray Cranberries Inc., Suterra LLC, and Sun-Maid Growers of California.
Startups in the packaged currants market are entering the market with innovative products and business models. They are leveraging advances in technology and packaging to create new products and reach new customers. Startups are also focused on meeting the changing preferences of consumers, such as the demand for organic, natural, and functional packaged currants. Some of the startups in the market include Little Red Dot Kitchen, Berry Joe, and Rubies in the Rubble.
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Key Segments
Product:
- Blackcurrant
- Redcurrant
Application:
- Online Sales
- Offline Sales
Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- The Middle East & Africa (MEA)
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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