Red Berries Market

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2. RED BERRIES MARKET ANALYSIS • Red Berries Market, By Berry Type (Cranberry, Strawberry, Red Raspberry, Cherry, Grapes, Red Currants), By Application (Dairy, Bakery & Confectionery, Beverages, Snack Food, Nutraceuticals, Sauces & Fruit Preserve), By Product Type (Frozen, Puree, Juice Concentrate, Powder, Not From Concentrate), By Nature (Organic, Conventional), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. Red berries are pulpy fruits used across various food applications such as beverages, bakery, sauces, nutraceuticals, and snacks. They are also used in dairy food products to enhance flavors such as flavored ice creams and shakes. On the basis of nature the market is classified into organic and conventional. • The global red berries market is projected to reach around US$ 25.6million by the end of 2027, in terms of revenue, growing at CAGR of 3.1% during the forecast period (2020-2027).

4. Drivers: • Growing demand for natural flavors across the food and beverage industry is predominantly fueling the market growth of the red berries. This is attributed to growing health-conscious consumers due to rising awareness regarding the negative health effects of artificial additives and ingredients in the food products. Moreover, the growing demand for frozen fruits is also anticipated to augment the market growth of red berries.

5. Figure 1. Global Red Berries Market Share (%) in terms of Value, By Region, in 2019 Europe region dominated the global red berries market in 2019, accounting for 39.6% share in terms of value, followed by North America and Asia Pacific, respectively. Market Restraints: Poor infrastructure such as shortage of power, lack of storage facilities, and poor roads across developing regions is expected to restrict the market growth of the red berries.

7. Market Opportunities: Growing demand for powder form of red berries in various food products is expected to serve major growth opportunities to the market of red berries. Powder form red berries are widely used in the preparation of bakery food products, thus growing consumption of bakery food products around the globe is projected to foster the market growth of the red berries over the forecast period. Moreover, growing demand for fruit preserves is also expected to augment the market growth. Increasing demand for healthy bars among consumers is expected to offer potential opportunities to the market of red berries. For instance, in May 2018, Kellogg’s re-launched Special K cereal bars. The snacks also contain cereal crispies and whole wheat flakes for a lighter texture. The current flavors have been replaced by four new flavors – Juicy Red Berry, Milk Chocolate, Apricot & Sultanas, and Dark Chocolate & Cranberries.

8. Figure 2. Global Red Berries Market– Opportunity Analysis Market Trends: The ongoing trend of low calorie and better-for-you beverages is expected to positively impact the market growth of the red berries. For instance, in January 2019, Boost Drinks has launched Boost Energy Red Berry 250ml, backed with love-themed advertising across Tinder. Red Berry is available as a 49p PMP value price point. Thus, the growing demand for such energy drinks among consumers is expected to foster the market growth of red berries. Red berries in nutraceuticals is a new and innovative concept in the market. Nutraceuticals are gaining huge demand across geriatric as well as health-conscious populations is expected to augment the market growth of the red berries. Thus growing sales of flavored nutraceuticals around the globe due to increasing geriatric population and health-conscious populations is expected to augment the market growth over the forecast period.

9. Figure 3. Global Red Berries Market Share (%) in terms of Value, By Application, in 2019 On the basis of application in 2019, the beverages segment has accounted the largest market share of 35.1% in terms of value, followed by dairy and bakery & confectionery segment respectively. Global Red Berries Market - Impact of Coronavirus (Covid-19) Pandemic: Beverage companies are facing reduced consumption and supply chain disruption challenges due to Corona virus pandemic. While at-home consumption has seen significant growth during the crisis, out-of home consumption has come to a standstill. Once the situation normalizes out-of home consumption will pick up again.This is expected to hamper the demand for red berries for short period. According to Coherent Market Insights, red berries market is expected to grow at a significant rate between 2020 and 2021.

10. Competitive Section: • Company Names  • Ocean Spray Cranberry Inc. • Döhler Group • SunOpta, Inc. • Hortex Group • Milne Fruit Products • Fruit d'Or • Few Recent Developments • Ocean Spray Cranberry Inc. • In September 2018, Ocean Spray and The Oppenheimer Group enter into a partnership to deliver fresh cranberries throughout the fall and holiday periods.

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