Packaged Currants Market Size, Share, Growth, and Industry Analysis by Type (Blackcurrant, Redcurrant, and Others), By Application (Online Sales and Offline Sales) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2022 To 2030

Updated On: 04 September 2023

Packaged Currants Market Report Overview

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The global packaged currants market size is estimated to be USD 964 million in 2022 and is projected to touch USD 1303.7 million by 2028, at a CAGR of 5.2% during the forecast period. 

Packaged currants include redcurrants, blackcurrants, and hundreds of other kinds such as gooseberries. The currants are affiliated with the species Ribes in the family Grossulariaceae.

The growing number of online shoppers is anticipated to escalate market growth. Increased awareness about the health-promoting benefits of consuming currants. The rise in the need from the food and beverage sector is predicted to surge market growth. The product is extensively used in jams, cakes, and other serving dishes. High demand to treat chronic cough and other diseases is anticipated to accelerate market growth. Growing awareness to maintain collagen coupled with the increased spending capacity of consumers is projected to drive market growth. Increased need for unseasoned fruits all around the year is estimated to fuel market progress in the upcoming years. On the contrary, strict standards set by governments and the presence of alternatives such as dried apricots, nuts, raisins, and other dry fruits are anticipated to impede packaged currants market progress in the forthcoming years.

COVID-19 Impact: Closure of Food Stores to Hamper Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with brew coffee paper experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The shutdown of restaurants and food stores globally restricts market growth. Closure of manufacturing units reduced production capacity. Lower demand for the product to a decline in market growth. However, the increased number of coronavirus cases and the high demand for strong immunity to fight against deadly viruses boosted product adoption. Also, safe packaging and less worry about infections foster market growth during the pandemic period. 

LATEST TRENDS

"Increasing Demand for Food and Beverage Sector to Stimulate Market Growth"

The growing need for the food and beverage sector is anticipated to surge market growth. Increased awareness about the health benefits of the product is projected to fuel market growth. The product contains anthocyanin which has cancer-fighter properties. Further, the product helps to reduce the risk of eye disorders. Such health benefits of the product are anticipated to accelerate market growth. Growth in packaging technology and increased demand for packaged food products are foreseen to surge market growth in the forecast period. High demand to consume natural sweetness is predicted to propel packaged currants market progress.

RESTRAINING FACTORS

"Government Regulation and the Presence of Alternatives to Restrict Market Growth"

Strict standards set by governments and the presence of alternatives such as dried apricots, nuts, raisins, and other dry fruits are anticipated to impede market progress in the forthcoming years.

Packaged Currants Market Segmentation

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• By Type

Based on type, the market is divided into blackcurrant, redcurrant, and others.

Blackcurrant is estimated to be the leading part of type segmentation.

• By Application

Based on application, the market is classified into online sales and offline sales.

Online sales are estimated to be the leading part of application segmentation.

DRIVING FACTORS

"Growing Number of Online Shoppers to Incite Market Progress"

An increasing number of online shoppers is estimated to accelerate market growth. The product is used for food supplements and treatment purposes which is predicted to fuel market growth. It is easily available online and can be purchased easily with a few steps. Further, the product can be used as a substitute for fresh fruits. The product can improve cardiovascular health and reduce stroke and hypertension. Such benefits are foreseen to stimulate market progress. It is also consumed for skin-related problems such as psoriasis, acne, and others. It is helpful in the treatment of obesity and arthritis. These factors are predicted to surge the packaged currants market growth in the forthcoming years.

"Increased Demand for Packed Food Products to Fuel Market Growth"

Increasing demand for packed food products globally is expected to expand market growth. The product is extensively used for weight loss and other health benefits. It is used to relieve digestive disorders such as constipation. The product is also used to improve muscle strength coupled with treating stress, depression, and anxiety. The product is extensively used in jams, cakes, and other serving dishes. High demand to treat chronic cough and other diseases is anticipated to accelerate market growth. Growing awareness to maintain collagen coupled with the increased spending capacity of consumers is projected to drive market growth. Also, the product is consumed to increase the immune system and it helps to reduce the risk of cancer cell formation. These factors are estimated to accelerate packaged currants market growth in the upcoming years.

Packaged Currants Market Regional Insights

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"Increased Demand for Packed Fruits in Asia Pacific to Drive Market Share "

Asia Pacific is anticipated to account for the largest packaged currants market share due to the growing demand for packed fruits in the region. An increasing number of online shoppers is anticipated to escalate market growth. Increased awareness about the health-promoting benefits of consuming currants. The rise in the need from the food and beverage sector is predicted to surge market growth. The product is extensively used in jams, cakes, and other serving dishes. High demand to treat chronic cough and other diseases is anticipated to accelerate market growth.

Europe is anticipated to observe significant market growth due to the presence of market players. Growing demand for unseasoned fruits over the years is predicted to expand market growth. Also, increased awareness about the health benefits of the product and increased demand for the product among bakers and chefs to cook different dishes are predicted to stimulate packaged currants market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the Industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Kabako Gruppe (Poland)
• Karelia Berries (Russia)
• SPECIAL FRUIT (Belgium)
• Windmill Hill Fruits (England)
• Xi'an Xiyu Minnong Natural Food (China)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.