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The Global Apple market is projected to reach a value of USD 14.71 billion at a CAGR of 3.25% between 2023 and 2028.
Increasing demand for superfoods is one of the key factors driving the market growth however, complete dependence on apple cultivation might impede the growth of the market. The report presents a comprehensive analysis of the market, covering the most recent trends, drivers, and the overall market landscape.
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One of the key factors driving the market growth is the increasing demand for superfoods. The main advantage of superfoods is that they have high nutritional value. In addition, they are classified as one of the major superfoods as they are a powerful source of antioxidants such as polyphenols and flavonoids, as well as various other essential nutrients such as fiber, potassium, and vitamin C. Moreover, these nutrients provide a number of health benefits, such as healthier skin and the reduction of cholesterol and diabetes. Furthermore, the numerous nutritional benefits and the growing emphasis on incorporating different types of superfoods, in a variety of processed food products is one of the major factors driving the market growth during the forecast period.
A key factor shaping the market growth is the growing popularity of urban farming. The increasing popularity of urban farming in the US, the UK, and South Korea, among other countries, is expected to fuel the global demand for apples. In addition, the scarcity of fields for crop cultivation has increased urban agricultural practices, such as vertical farming. Furthermore, urban agriculture focuses on community spaces such as school farms and parking lots for cultivational.
Moreover, with the growing popularity of organic farming, the awareness about rooftop farming is increasing. In addition, rooftop farming is mostly undertaken by families in apartments and localities, who grow fruits and vegetables for their personal consumption. Furthermore, urban farming might result in an increase in consumer participation which will positively impact the market. Therefore, it is expected to drive the market growth during the forecast period.
High dependence of apple cultivation on weather conditions is one of the key challenges hindering the market growth. Adverse weather conditions can hamper the production of agricultural products. In addition, fluctuations in weather conditions negatively impact production as they require certain specific climatic conditions. Furthermore, natural calamities such as heavy rain, floods, tropical storms, and droughts can adversely affect production and are, therefore, a major threat to the growth of the global market.
Moreover, natural calamities lead to the destruction of irrigation systems and loss of harvest. In addition, climate change and weather conditions can affect the volume and quality of crop yield. Furthermore, a decrease in the production due to natural calamities, such as hurricanes and floods, and adverse weather conditions can hinder the market growth during the forecast period.
The availability of a wide variety in the offline segment will increase the market growth. The offline segment comprises hypermarkets, supermarkets, departmental stores, and convenience stores. In addition, this segment is an integral part of organized retailing, eases the purchasing process for consumers, and enables them to choose from a diverse range of fresh fruits. Moreover, Tesco Plc (Tesco) and Walmart Inc. (Walmart) are among the major hypermarkets and supermarkets that offer a plethora of varieties. In addition, an increase in the number of retailers offering under their brands is one of the major factors expected to drive the growth of the offline distribution segment. Furthermore, some of the popular products offered by this company are Gala Apples, Honeycrisp Apples, Granny Smith Apples, SweeTango Apples, and Rockit Apples. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The red apple segment is estimated to witness significant growth during the forecast period. There is a growing popularity for the red apples segment due to their vibrant red or red-green coloration, offering a visually appealing and appetizing appearance. In addition, among the various cultivars, some of the most popular varieties include Red Delicious, Gala, Fuji, and Honeycrisp. Furthermore, each of these cultivars has its unique flavor profile, ranging from sweet to sweet-tart, with a crisp, juicy texture.
The red apple segment was the largest segment and was valued at USD 68.68 billion in 2018.
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Moreover, red apples are favored for their versatility in both culinary and snacking applications. In addition, one of the primary reasons for their popularity is that they can be consumed fresh on their own. Furthermore, they are often enjoyed as a convenient, healthy snack due to their crispness and naturally sweet taste. In addition, they also make delicious additions to salads, while their bright color can enhance the visual appeal of various dishes. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
APAC is estimated to contribute 57% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main countries in APAC that are contributing to the market growth in APAC include China, India, and Australia. In addition, the demand is expected to increase in the region due to the growing awareness about the health benefits of consumption among consumers, the improving economic conditions, and the increasing availability across various distribution channels.
Furthermore, sustainable urban growth and improving living standards are leading to an increase in the demand for high-quality fruits in the region. In addition, online sales are increasing in the region owing to the rising number of smartphone users and the increasing internet penetration with Amazon being the largest online platform in India. Hence, such factors are driving the market growth in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative market growth and forecasting analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides market trends and analysis and growth opportunities from 2018 to 2028.
The Apple Market is influenced by various factors, including consumer concerns about calories and weight, leading to increased demand for fresh produce. Health specialists play a key role in promoting the consumption of apples, especially in emerging and developing nations. The market is driven by the availability of hybrid varieties and the adoption of contract farming practices. Factors like income levels, health consciousness, and dietary changes also impact apple consumption patterns. Marketing innovations and the use of cold-chain logistics and e-commerce have expanded the reach of apples, with chain fruit stores and WeChat merchandising contributing to their consumption value.
Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.25% |
Market Growth 2024-2028 |
USD 14.71 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.93 |
Regional analysis |
APAC, Europe, Middle East and Africa, North America, and South America |
Performing market contribution |
APAC at 57% |
Key countries |
US, Turkey, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Auvil Fruit Co. Inc., Batlow Fruit Co. Pty Ltd, Borton Fruits, Centre Partners Management LLC, CMI Orchards LLC, Evans Fruit Co, Fowler Farms Ltd., Fruit Hill Orchard Inc., Gebbers Farms, Gilbert Orchards, Golden Bay Fruit, Harmonie, Hope Orchards, Mercier Orchards, Rice Fruit Co., Roche Fruit LLC, Shenandoah Valley Orchards, Stemilt Growers LLC, Symms Fruit Ranch Inc, and Washington Fruit Growers |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market growth analysis of the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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