The Asia-Pacific raisins market is expected to grow from US$ 472.81 million in 2019 to US$ 724.44 million by 2027; it is estimated to grow at a CAGR of 5.5% from 2020 to 2027.
Increasing e-commerce sales and innovative marketing strategies of raisin providers are resulting elevated raisin demands. Raisin manufacturers are focusing on strengthening their products' sales through direct distribution channels, especially through e-commerce, to enhance their sales and revenue, along with eliminating operation costs and expanding the customer reach. Online channels helps them sell the products worldwide. Moreover, these channels provide various payment options and attractive discounts to customers, along with enhancing convenience for them as they can avail the home delivery of the products. Substantial increase in the number of online shoppers—favored by the availability of a broad array of products and ease of selection, and rising penetration of internet and smartphones—also encourages the companies to restructure their marketing strategies. Besides, key players in the raisins market are increasing their participation in several food fairs and conferences as a branding strategy to enhance relations with other key stakeholders and solidify their position in the market. Advertisements and promotions also create lucrative opportunities for players in the market. For instance, the company Maxwell Foods launched a very small package of raisins for children, branded with cartoons such as Peppa Pig and Disney characters.
Based on end user, the Asia Pacific raisins market in segmented into food industry, food service provider, and households; the food industry segment led the market in 2019. Raisins are rich in minerals such as iron, calcium, potassium, manganese, and zinc, and hence, raisins find their applications in a wide variety of foodstuff and beverages. Smoothies are prepared using raisins along with banana flakes, oats, and/or corn flakes. Raisins are also used in cake mixes. Besides this, raisins are used in bakery products such as cream pie, bars, cookies, and pancakes. Many frozen desserts such as frozen candies and ice creams are prepared using raisins. Moreover, they form a crucial part in the production of breakfast cereals and other fruit-based products. The progressing trend of consuming organic food products would favor the demand for organic raisins in the food industry in the coming years. The low fat content of raisins has gathered the attention of health-conscious populations as a sugar alternative; they are also used in the preparation of porridges. As raisins are an excellent source of vitamin C, vitamin B6, potassium, and dietary fibers, alogn with adding taste to recipes, they can be added in crushed form in the baby food. Raisins assist in digestion; reduce acidity; and help cure anemia, prevent cancer development, and reduce sexual weakness, which boost their demand among consumers, thus compeling different food and beverage manufacturers to use raisins in their products.
The overall Asia-Pacific raisins market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Asia-Pacific raisins market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia-Pacific raisins market. A few of the players operating in the market are Geobres, Lion Raisins, Sunbeam Foods, and Fruits of Turkey.