Published On : 2016-11-17
Beverages and food products containing red berries as the key ingredient are now attracting hordes of consumers. Supermarket shelves stacked with red berries products are getting deserted due to their rising popularity and increasing consumption. Perfectly befitting many consumer trends is making products derived from red berries the new revolution in food and beverages (F&B) sector. The distinctive taste and quality of such products is benefitting their sales and leading to growing revenues.
The global red berries market was valued at US$ 18.1 Mn in 2015 and is expected to surpass US$ 18.5 Mn by 2016-end. In the long-run, the global red berries market is estimated to expand at a CAGR of over 3.0% and surpass US$ 24 Mn in revenues by 2026-end.
Emergence of Global Red Berries Market
Over the years, there has been a noticeable increase in demand for natural ingredients and organic foods. The trend for natural and organic ingredients has given the required build up for growth of products derived from red berries. Going along with this global consumer trend has proved to be quite profitable for red berries market.
This trend is the key driver that initiated red berries market as an established as well as an assuring segment for investment in the F&B industry. Multiple applications of red berry extracts in food and beverages is another key driver for growth of red berries market. Red berries are key ingredients in products like Lingonberry jam and are also available as a replacement for redcurrants in the Cumberland sauce.
Nutritional properties of red berries are another key stimulant affecting their demand in a positive way. Being abundant in organic acids, vitamin A and C, B Vitamins, calcium and potassium makes red berries the new preference for consumers opting for healthy and tasty food products. Juices derived from red berries are contributing towards 34.3% revenue share of total market, making more than US$ 6.0 Mn to global red berries market.
Regions such as Western Europe and North America are favouring the growth of red berries market. Western Europe leads the list for being the largest red berries market in the world. And, North America ranks in the second spot after registering a splendid growth this year. On an average, these two key regions will continue growing at a CAGR of more than 3.5%. Pacific Coast Fruit Products Ltd., NorthWest Berry Co-op, Kerr Concentrates, SunOpta Inc., and Maberry & Maberry Berry Associates are some of the key players developing opportunities for global expansion of red berries market. Fulfilling the rapidly growing demand and maintaining this rapid growth are the key strategies of these companies. The future of red berries market is likely to flourish by inflating global production capacity and offering new products.
The need to increase production capacity is a sign of progressive potential for red berries market. The market is budding in the current phase as red berries food products are not widely available around the world. Presence of red berries as key ingredients for restaurant dishes will be good move to hype up its popularity. Companies and restaurant franchises can collectively work towards progress of red berries product. Owing to such an effort, consumers will soon give in to the trend of savouring on red berries as a fresh alternative for fruit products.