LONDON--(BUSINESS WIRE)--The global packaged currants market is expected to grow at a CAGR of approximately 7% during the forecast period, 2018-2022, according to the latest market research report by Technavio.
A major factor driving the market’s growth is the growing awareness of the health-promoting benefits of consuming currants. Over the last decade, the packaged currants market has grown significantly because of the increasing awareness of the health-promoting benefits of currants and the surging demand for currants among consumers in regions such as Oceania, Eastern Europe, and Western Europe.
This market research report on the global packaged currants market provides an extensive analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rising trend of online retailing as one of the prominent trends driving the global packaged currants market:
Rising trend of online retailing
The rising popularity of e-commerce businesses around the world has given vendors an opportunity to enhance their profit margins and revenues. In 2016, e-commerce accounted for nearly 12% of the global retail trade. Online and e-commerce channels support both business-to-consumer (B2C) and business-to-business operations. The average amount of money spent per online transaction and the number of online transactions have been growing.
“The rising number of Internet users and the ready-to-buy attitude of customers are the key contributing factors to the popularity of the online medium. The surging number of online shoppers across the globe will further contribute to the growth in the sales of packaged currants through this channel,” says a senior analyst at Technavio for research on food.
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Packaged currants - market segmentation
This market research report segments the global packaged currants market into the following products (blackcurrant and redcurrant) and key regions (the Americas, APAC, and EMEA).
By product, the blackcurrant segment held the largest market share in 2017, contributing to over 62% of the market. The market share for this segment is expected to increase by nearly 3% by 2022 and this product is expected to dominate the global market throughout the forecast period.
In 2017, with a revenue share of more than 78%, EMEA was the leading region for the global packaged currants market. The increased demand for packaged currants because of the increasing awareness of their health-promoting benefits among consumers is accelerating the sales in all these regions.
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