Unpacking Apple's Dominance: Trends and Insights for 2024

"The Business Research Company recently released a comprehensive report on the Global Apples 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 apples market size has grown steadily in recent years. It will grow from $89.12 billion in 2023 to $92.46 billion in 2024 at a compound annual growth rate (CAGR) of 3.7%. The growth in the historic period can be attributed to supply chain disruptions, trade policies, technological advances, health trends, market competition, government regulations, economic conditions, and cultural factors.

The apples market size is expected to see steady growth in the next few years. It will grow to $108.77 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%. The growth in the forecast period can be attributed to health and wellness trends, climate resilience, global trade dynamics, consumer preferences, sustainability initiatives, market innovation, and supply chain efficiency. Major trends in the forecast period include increased demand for organic and specialty apples, expansion of sustainable practices, innovation in apple varieties, digital agriculture technologies, e-commerce growth, health and Wellness trends, diversification of product offerings, consumer education, and transparency.

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Market Drivers and Trends:

The rise in health-conscious consumers is expected to propel the growth of the apples market going forward. Health-conscious consumers prioritize and actively seek ways to maintain and improve their physical and mental well-being. Health-conscious consumers are rising due to increasing awareness about the role of nutrition in preventing chronic diseases and promoting overall well-being. Health-conscious consumers incorporate apples into their diets for their nutritional richness, fiber content, and potential health benefits, such as promoting heart health and aiding weight management. For instance, in May 2022, according to an online survey of 1,005 Americans ages 18 to 80 conducted by the International Food Information Council, a US-based non-profit organization, 52% of participants followed a specific diet or eating pattern, up from 39% in 2021. Therefore, the rise in health-conscious consumers is driving the growth of the apple market.

Major companies operating in the apples market are increasing their focus on developing genetically engineered apple varieties, such as Wurtwinning apple to gain a competitive edge in the market. Wurtwinning apple is a new club variety that is genetically engineered apple varieties that have been altered or modified using genetic engineering techniques to introduce specific traits or characteristics. For instance, in February 2024, FruitMasters, a Netherlands-based fruit company, launched the Wurtwinning apple variety under the brand name Bloss. This new club variety is a promising resistant variety with an above-average pack-out rate and a consistent size, with a rose-red blush and prominent lenticels. The apple was developed by combining the genes of two highly regarded varieties, resulting in a flavorful and robust fruit with a double resistance to apple scab and a high tolerance against powdery mildew.

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Major Key Players of the Market:

Stemilt Growers LLC, Washington Fruit Growers, Borton Fruits, Auvil Fruit Co. Inc., Domex Superfresh Growers, Starr Ranch Growers, Gebbers Farms, Golden Bay Fruit, Mercier Orchards Inc., Harmonie, Hess Brothers Fruit Company, Symms Fruit Ranch Inc, Rice Fruit Co., Evans Fruit Company, CMI Orchards LLC, Fowler Farms Ltd., Gilbert Orchards, Fruit Hill Orchard Inc., The Apple Barn, Batlow Fruit Co. Pty Ltd, Hope Orchards, Roche Fruit LLC, Shenandoah Valley Orchards

Apples Market 2024 Key Insights:

• The apples market size is expected to see steady growth in the next few years. It will grow to $108.77 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%.
• Health-Conscious Consumers Fueling Growth In The Apples Market
• The Emergence Of Genetically Engineered Apple Varieties
• Asia-Pacific was the largest region in the apples market in 2023

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This release was published on openPR.