Dried Cranberry Market Rising Recognition with Growth of USD 287.30 Million By 2030
Fior Market Research LLP
6 min read
Fior Market Research LLP
With the increasing scope of applications, the dried cranberry market will expand, benefiting the market players and consumers.
Newark, NJ, May 24, 2022 (GLOBE NEWSWIRE) -- As per the report published by our research team, the global dried cranberry market is expected to grow from USD 195.67 million in 2021 to USD 287.30 million by 2030, at a CAGR of 4.36% during the forecast period 2022-2030.
With the rise in obesity, digestive issues, and gut ailments, there is a need to adopt a healthy lifestyle. The lack of proper amount of minerals, vitamins, and other essential nutrients is the root cause of such chronic and lifestyle diseases. Increasing awareness about proper nourishment combined with the increase in disposable income has shifted consumer preferences toward healthy and nutritious snacking like cranberries which are high in fibers, antioxidants, and vitamins. Also, the increased accessibility of dried cranberry associated with the growing number of supermarket/hypermarket chains will drive the market's growth. Increased use of dried cranberries in the food and cosmetics industry, owing to their functional properties, which promote skin health internally, will provide lucrative opportunities for the market players. With the increasing scope of applications, the dried cranberry market will expand, benefiting the market players and consumers. The use of preservatives or vegetable oil to increase the life span of the dried cranberries can restrict the market's growth as customers have become aware of the contents of the food they eat. Stringent government regulations that define the rules and standards regarding the cultivation, processing, packaging, transportation, and distribution will challenge the market's growth. However, new techniques and methods that increase the lifespan of dried cranberries without compromising their integrity will overcome the restrictions of the market. Also, the streamlined regulations governing the dried cranberries will make the market more efficient.
Competitive Strategy
To enhance their market position in the global dried cranberry market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
According to a recent study published in the journal Food & Function, 2022, the natural chemicals in cranberries can help the blood vessels stay healthy while also lowering the risk of cardiovascular disease. The study was authored by experts and conducted in collaboration with the University of Surrey.
The rising consumer awareness, increasing disposable income, and the growing number of people with chronic and lifestyle diseases have witnessed a shift towards a healthy lifestyle globally. The use of dried cranberries in bakery products and confectionaries has seen a surge in recent years attributed to the health benefits of consuming cranberries. Product innovations in the food and cosmetics industry that use cranberry as their fundamental ingredients are gaining popularity. New research studies emphasizing the cardiovascular health benefits gained by the daily consumption of cranberries will contribute significantly to the market's growth. Easy storage, great taste, and affordability are some features that will drive the market in the forecast period. The growing number of retail chains, advanced packaging, and targeted advertising are making dried cranberries visible and accessible to the population in developing economies, which will expand the market and drive the demand for dried cranberries.
Key Findings
In 2021, the infused dried segment dominated the market with the largest market share of 43% and market revenue of 84.13 million.
The type segment is divided into freeze-dried, air-dried, infused dried, & others. In 2021, the infused segment dominated the market with the largest market share of 43% and market revenue of 84.13 million.
In 2021, the bakery products segment accounted for the largest share of the market, with 46% and market revenue of 90 million.
The application segment is divided into bakery products, confectionery, dairy products, beverages, & others. In 2021, the bakery products segment accounted for the largest share of the market, with 46% and market revenue of 90 million.
Regional Segment Analysis of the Dried Cranberry Market
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and the Rest of South America)
The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global dried cranberry market, with a market share of around 43.67% and 85.44 million of the market revenue in 2021. The presence of favorable climatic conditions for the cultivation of cranberries combined with the well-established cranberries processing industry drives the North American dried cranberry market. Also, the consumption market for dried cranberries is the highest in the USA, Canada, and Mexico, which will significantly contribute to the dominance of this region in the global dried cranberry market. The United States is also the largest exporter of dried cranberry to Europe and Asia, depicting the region's large scale of cranberry production.
Key players operating in the global dried cranberry market are:
Badger State Fruit Processing
Decas Cranberry Products
Honestly Cranberry
Medrui Farms
Wetherby Cranberry Company
KAREN’S NATURALS
Ocean Spray
Patience Fruit
Cape Blanco Cranberries
Cape Cod Select
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Market Quest has segmented the global dried cranberry market based on the below-mentioned segments:
The global dried cranberry market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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