Raisins Market

Raisins Market Overview

Raisins Market Size was valued at USD 2.5 Billion in 2023. The Raisins market industry is projected to grow from USD 2.9 Billion in 2024 to USD 3.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.8% during the forecast period (2024 - 2032).

Raisins Market Trends

Increasing use of raisins for culinary purpose is driving the market growth

Raisins, derived from dried black or green grapes, are a versatile ingredient used in a wide array of sweet and savory dishes. Apart from being a great source of vitamins, fiber, and minerals, they are also known for their energizing properties. With high levels of antioxidants, iron, beneficial for the heart, and calcium, beneficial for bone health, raisins are a popular choice in the culinary world due to their numerous health benefits. From sweet bread to savory dishes, raisins are a common ingredient in cuisines worldwide, making them a staple in the culinary industry. The increasing popularity of multicultural cuisines has contributed to the growing demand for raisins. Moreover, the trend of home cooking and baking, particularly among millennials, has led to more experimentation with new recipes, boosting the sales of raisins. Health-conscious individuals opting for sugar alternatives in their cooking have also driven the demand for raisins in culinary applications. In baking, raisins can often be used as a substitute for sugar, either mixed in or ground, making them a versatile and healthy ingredient choice.

Raisins Market

Size, by Product, - (USD Billion)

Organic Raisins

Conventional Raisins

Other Products

The Market will Grow

At the CAGR of:

4.8%

The Forecast Market

Size for in USD:

$3.5 Billion

Raisins Market Dynamics

Drivers

Growing Demand for Raisins in International Market Drive Market.

The health benefits and nutritional content of raisins, such as riboflavin, dietary fiber, antioxidants, linoleic acid, oleanolic acid, and more, contribute to their high demand in European and American countries' international markets. According to trading economics, Turkey exported 142,812 tonnes of raisins from September 1st, 2021 to March 19th, 2022, marking an 8% increase compared to the same period last year. This growing export and the subsequent rise in international demand are expected to drive the growth of the Raisins Industry from 2022 to 2027.

Improved Technology to Produce Raisins to Drive Raisins Market Growth.

Raisins are produced by dehydrating grapes. In the past, the traditional methods of sun drying or shade drying were time-consuming. However, with the introduction of improved drying techniques like hot air drying or microwave drying, the process has become more efficient. Microwave drying, in particular, has an efficiency rate of approximately 70%. According to commodity insight, the price range for dried grapes varies from a minimum of 1000 INR per quintal to a maximum of 18,400 INR per quintal, depending on the quality. The quality of the grapes is largely influenced by the drying technique employed, and the utilization of advanced drying technology has led to higher prices.

Restraint

Climate Change and Weather Fluctuations

Climate change, caused by various human activities, has led to significant changes in global weather patterns. Extreme weather events, increasing temperatures, and unpredictable precipitation have had a profound impact on agriculture and food production, particularly in the cultivation of raisins. Grapes are the main ingredient for making raisins. Climate change has disrupted traditional grape-growing areas by changing temperature and precipitation patterns, resulting in uncertain growing conditions. Prolonged heatwaves, unexpected frosts, and irregular rainfall can harm grapevines, reducing their overall yield and quality. Weather fluctuations related to climate change have been associated with lower crop yields in grape-growing regions. High temperatures can stress grapevines, affecting fruit development and reducing the overall grape harvest.

Climate change and weather fluctuations pose a significant challenge to the Asia-Pacific raisin market. The negative effects on grape cultivation, decreased crop yields, and changes in ripening processes are all factors that hinder the growth and stability of the raisin market.

Opportunity

Rising Research & Development and Innovative Technologies

The Asia-Pacific raisins market is currently witnessing substantial prospects for expansion and ingenuity, primarily propelled by the increasing focus on research and development (R&D) endeavors and the adoption of cutting-edge technologies. As the demand for wholesome and natural snacks continues to surge, stakeholders within the raisin sector are investing in research, product development, and advanced technologies to enhance the efficiency, quality, and variety of production. R&D initiatives are primarily concentrated on the development of new grape varieties that are specifically optimized for raisin production. This involves breeding programs aimed at improving characteristics such as taste, size, and sugar content, all of which ultimately impact the overall quality of raisins. Additionally, research on agronomic practices, including irrigation methods and pest management, aids in maximizing grape yields and enhancing the overall health of crops, resulting in higher-quality raisins. Innovative post-harvest technologies play a pivotal role in raisin production. Advanced drying techniques, such as infrared drying, microwave drying, and vacuum drying, help preserve the natural flavor, color, and nutritional value of grapes, thereby yielding superior quality raisins. These technologies also contribute to reducing energy consumption and processing time, thereby making the production process more sustainable and cost-effective. The escalating research and development efforts and the adoption of innovative technologies in the Asia-Pacific raisins market offer significant opportunities for growth and progress. Crop enhancement, post-harvest technologies, product diversification, sustainable packaging, quality control, process automation, and traceability solutions all contribute to the modernization and sustainability of the raisin industry.

Challenge

Fluctuation in Price Range is Hampering Market Growth

The cost of raisins is influenced by a variety of factors such as workforce availability, market demand, transportation expenses, and more. According to Mundus Agri's report from July 2022, Turkey offers their raisins at a price starting from $1500 per metric ton, whereas Iran's price is higher at $1800 per metric ton. This disparity in pricing could potentially hinder the expansion of the Raisins Industry.

Raisins Market

Share, by end user, (USD Billion)

2.5 Billion%

Retail

Food Service

Food Industry

Other End-Users

3.5 Billion

Total Market Size

USD (Billion),

4.8%

CAGR

-

Raisins Market Segments

• by Type

1. Organic Raisins
2. Conventional Raisins

• by Application

1. Retail
2. Food Service
3. Food Industry

Raisins Market Key Players

• Sun-Maid
• Bergin Fruit and Nut
• Sunbeam Foods
• Dole Food Company
• Geobres Nemean Currants and Sultana Raisins
• Traina Foods
• Lion Raisins
• National Raisin
• Montagu Dried Fruit and Nuts
• Viva Bella Orchards
• Xinjiang ACST Food
• Turpan Raisin
• Loulanmiyu

Raisins Market Recent Development

On April 2024, Keebler® launched Sandies Oatmeal Raisin cookies, aiming to enhance 'me moments' with a new indulgent flavor, crafted by Ernie and the elves, featuring buttery shortbread and raisins.

On December 2023, Sun-Maid raisins announced a breakup with fruitcake, introducing new dessert recipes like 'Bacon Raisin Cornbread Chicken' and 'Forget Fruitcake Cookie' to showcase the versatility of dried fruit and increase raisin sales during the holiday season.

On September 2023, gardeners in Herat province converted most of their grape produce into raisins due to inadequate cold storage facilities and market access, highlighting the need for government support in establishing air corridors and export facilities to boost the agricultural economy.

Raisins Market

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

4.8%

The Forecast Market

Size for in USD:

$3.5 Billion

FAQs

• What is the growth rate of Market?

Ans: The Raisins Market is growing at a CAGR of 4.8% during forecasting period 2023-2032.

• What segments are covered in market?

Ans: Market is segmented into Type, Application

• Who are the key players in market?

Ans: The important key players in the Market are Sun-Maid, Bergin Fruit and Nut, Sunbeam Foods, Dole Food Company, Geobres Nemean Currants and Sultana Raisins, Traina Foods, Lion Raisins, National Raisin, Montagu Dried Fruit and Nuts, Viva Bella Orchards, Xinjiang ACST Food, Turpan Raisin, Loulanmiyu

• What is the study period of this market?

Ans: The Market is studied from 2024 to 2032.

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