Global Cranberries Market Overview 2033 : Forecasted Market Size And Growth Rate

"The Business Research Company recently released a comprehensive report on the Global Cranberries Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The cranberries market size has grown steadily in recent years. It will grow from $2.25 billion in 2023 to $2.35 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to the increased traditional use of food products, increased consumer awareness of health benefits, expansion of cranberry cultivation, rise in consumption of on-the-go snacks, and increased demand from the processing Industry.

The cranberries market size is expected to see steady growth in the next few years. It will grow to $2.83 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to the growing popularity of cranberry-based functional beverages, rising plant-based and vegan food trends, increased demand for organic and natural products, rising consumer interest in diets, and growing interest in urinary tract infection (UTI) prevention. Major trends in the forecast period include cranberry-based health and wellness products, new flavored cranberry product lines, sustainable products, organic ingredients, and innovations in processing techniques.

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Market Drivers and Trends:

Growing consumer demand for organic goods is expected to propel the growth of the cranberries market. Organic goods refer to products produced and processed according to organic farming standards, which prohibit synthetic pesticides, fertilizers, genetically modified organisms (GMOs), and other artificial additives. Demand for organic goods is on the rise due to several factors, including increasing health consciousness among consumers and growing awareness about the environmental impact of conventional farming practices. Cranberries are utilized in organic food products to offer natural tartness and nutritional benefits while aligning with consumers' preferences for organic, pesticide-free options. For instance, in June 2022, according to a survey published by the Organic Trade Association (OTA), a US-based business association for the organic industry in North America, it was revealed that organic industry sales surpassed $63 billion, with $1.4 billion (2%) in total growth over the preceding year. Additionally, organic food, which accounted for over 90% of organic product sales, experienced 2% growth, reaching $57.5 billion. Therefore, the growing consumer demand for organic goods is driving the growth of the cranberries market.

Major companies operating in the cranberries market focus on developing innovative products, such as standardized whole fruit cranberry powder, to gain a competative edge in the market. Standardized whole-fruit cranberry powder refers to a finely milled cranberry powder with consistent levels of active ingredients. For instance, in January 2022, Fruit d'Or, a Canada-based cranberry processing company, launched the Pro Cran d'Or and Pro Cran Naturelle 80-mesh cranberry powders used for softgels. These are the first powders made from whole-fruit cranberries and meet FDA (Food and Drug Administration) requirements for a health claim regarding reduced UTI (Urinary Tract Infection) risk. It has a particle size of 80 mesh, which prevents leakage in softgels and offers versatility for various delivery systems. These powders can be blended with other ingredients and are suitable for use in smoothies, bars, dairy products, and cosmetics.

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Major Key Players of the Market:

Del Monte Foods Inc., Ocean Spray Cranberries Inc., Mariani Packing Co. Inc., Sun-Maid Growers of California, Traina Foods Inc., Meduri Farms Inc., Decas Cranberry Products Inc., Eden Foods, Citadelle Camp Coop, Fruit d'Or Inc., Sisters Fruit Company, Royal Nut Company, Graceland Fruit Inc., Rostaa Superfoods, Stoneridge Orchards, Sundance Vitamins LLC, Fresh Meadows Cranberries, Honestly Cranberry, Michigan Cranberry Co., Muskoka Lakes Farm and Winery, New England Cranberry, Cape Blanco Cranberries Inc., Habelman Bros. Co., Sun Organic Industries Pvt. Ltd., Mitthi Foods

Cranberries Market 2024 Key Insights:

• The cranberries market size is expected to see steady growth in the next few years. It will grow to $2.83 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.
• Growing Consumer Demand For Organic Goods Boosts Cranberries Market Growth
• Innovative Cranberry Products For Offering Standardized Alternative
• North America was the largest region in the cranberries market in 2023

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This release was published on openPR.