Impact of COVID-19 on Raisin Extract Market : Implications on Business
For the production of raisin extract, raisins are soaked in water to leach out a variety of compounds then evaporated to obtain concentrated liquid which is thick or thin depending on the duration of evaporation. After purification, it is sold in liquid form or further dried for powder form. Raisin juice a concentrated extract of raisin and is widely used in the food and beverage industry. The concept of raisin juice is not the same as that of grape juice, which is already a well-known substance. Raisins are dehydrated and has less water concentration. The raisin extract is expected to increase its use as a dietary supplement as it contains various vitamins and minerals. In the food and beverage industry, the raisin extract is widely used for bakery products, desserts, ice cream and confectionary. The organic products are in high demand globally therefore, the market for organic raisin extract is also expected to grow with its usage in the food & beverages industry. The market is expected to grow rapidly over the forecast period owing to its various benefits.
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Notable Applications of Raisin Extract to bolster Market Growth
The raisin extract can be added to various food preparations or can be consumed straight. It is used in the production of baked foods and confectionery. It acts as a preservative in most bakery products especially in the preparation of bread. Taking advantage of its intense sweetness, it can be used as a substitute for sugar and artificial sweeteners. Home cooks and food service industry are expected to increase the demand for raisin extract as preservative and sweeteners. Raisin extract can be consumed as a standalone supplement as it contains a high amount of vitamin B6, vitamin B12, thiamine, niacin, folate and other minerals. Consumption of raisin extract helps in digestion as it is rich in fibers. It is also a rich source of iron, calcium and boron. Iron is an important component for red blood cell production and helps them in carrying oxygen and is also important for preventing iron deficiency anemia. Boron works with calcium and vitamin D in supporting bone health. Raisins naturally consist of chemicals called phytonutrients such as phenols and polyphenols. They prevent cell damage and also protect from diseases like cancer, stroke and heart diseases. Raisins contain phytochemicals including linoleic acid, oleanolic acid, and linolenic acid, which fight the bacteria in the mouth and protect from cavities, promoting healthy teeth and gums.
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Raisin Extract Market Segmentation
On the basis of nature, the raisin extract market has been segmented as-
- Organic
- Conventional
On the basis of form, the raisin extract market has been segmented as-
- Liquid
- Powder
On the basis of applications, the raisin extract market has been segmented as-
- Flavoring Agent
- Binding Agent
- Artificial Sweetener
- Preservative
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Raisin Extract Market: Key Players
The key players operating in raisin extract market are Advanced Biotech Inc., Diana Food Inc., Swanson Health Products Inc., Synthite Industries Ltd. and Apex Flavors Inc. Many manufacturers are focusing to enter the market, as there is increase in demand of raisin extract for its variety of applications in food and beverage industry.
Raisin Extract Market Opportunities
The market for raisin extract is growing due to its various applications. To develop the market for raisin extract more, consumer awareness and educational marketing has become a necessity. Manufacturers are expected to come up with various nutritional food supplement products using raisin extract. Manufacturers of baby food and infant formulas are expected to boost raisin extract demand as it is a rich source of fiber which is useful for easy digestion. Companies wanting to produce natural food products can use raisin extract as natural sweetener and preservative. The demand for raisin extract is expected to grow as a binding agent in the production and preparation of bakery products. Manufacturers of raisin extract in liquid form are expected to come up with better technology to increase the shelf life of the product.
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