NEWARK, Del, March 08, 2023 (GLOBE NEWSWIRE) -- The fruit jams, jellies, and preserves market are expected to advance at a CAGR of 5.4% between 2023 and 2033. The FMI researchers have opined that the market size in 2023 is expected to be US$ 1.87 billion. By 2033, the valuation is expected to cross US$ 3.16 billion.
There has been a surging demand for clean-label ingredients as these help in extending shelf life and improve product inventory. The fruit jams, jellies, and preserves make use of clean labels, which has ultimately increased consumer confidence in the product.
The demand for fruit jams, jellies, and preserves is expected to surge as these make use of organic products. The biggest advantage of consuming organic products is that they are safe for the environment and contain a high amount of nutrients.
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In the current times, manufacturers are fortifying fruit jams, jellies, and preserves with extra nutrients. The manufacturers are also introducing different flavors, which are expected to further expand the market. This is done in a bid to focus particularly on small children.
Owing to rapid urbanization, people have started leading a sedentary lifestyle. This has led to long working hours, as a result of which people hardly have any time to cook food by themselves. Thus, they visit mobile food stores for breakfast, wherein they mainly consume bread and jams as a virtually staple food. Such factors are expected to massively influence the adoption rate.
From the insights provided by FMI analysts, it can be inferred that ‘soaring demand for clean label ingredients, organic products, the introduction of different flavors, rapid urbanization, and many other factors are expected to surge the fruit jams, jellies, and preserves market growth during the forecast period.’
Key Takeaways:
- The CAGR during the forecast period is expected to be 5.4%.
- In 2023, the valuation is expected to be at US$ 1.87 billion.
- By 2033, the numbers are expected to cross US$ 3.16 billion.
- Based on regional analysis, North America is expected to be the dominant market. As per the CAGR, Asia Pacific is expected to rule the global market.
- The United States market is expected to grow owing to a significant bread market.
- Europe market might prove to be an attractive destination owing to the high consumption of royal jelly.
- Japan market shows promising opportunities owing to the surging mobile food market.
- South Korea market is expected to grow by leaps and bounds owing to the presence of a lucrative spreads market.
- Based on type, the jams and jellies segment is expected to hold the leading market share.
- Based on the distribution channel, the supermarket/hypermarket segment is expected to hold the dominant market share.
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Competitive Landscape
The key players operating in the fruit jams, jellies, and preserves market are investing in the sustainability program. Since the food sector has been generating a massive amount of land pollution, the manufacturers are keeping a check on production activities. The key players are also investing in mergers and acquisitions to expand their market presence. They are also developing strategic partnerships in order to expand their capabilities and product portfolio. The focus is also on improving the supply chain for the seamless transportation of products from one part of the world to another.
Key developments in the fruit jams, jellies, and preserves market:
- In October 2022, B&G Foods announced Andrew Vogel as the Executive Vice president and President of Meals.
- In June 2022, Ferrero SpA plant in Arlon was authorized to restart production in collaboration with the Belgian food safety authority.
Other Key Companies Profiled: Baxters Food Group, Murphy Orchards, National Grape Cooperative Association, Nestle India, The Hershey Company, The J.M. Smucker Company.
Market Segmentation
By Type:
- Jams and Jellies
- Marmalade
- Preserves
By Distribution Channel:
- Hypermarkets/Supermarkets
- Convenience Stores
- Online Retail
- Other Distribution Channels
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
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Table of Content
1. Executive Summary | Fruit Jams, Jellies, and Preserves Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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