Industry Background:
Preserves foods are processed fruits with different agents and sored for a long time. It is coming under ready to eat food. The rapid development in infrastructure in the retail industry is driving huge growth in this market. Their market-leading players are heavily investing in packaging development or in innovative packaging to gain major market share.This growth is primarily driven by Increase in Preference for Ready-to-Eat Products and Development in Consumption of Premium Food Products.
Globally, a noticeable market trend is evident Growing Demand for Blended Flavoured Products Such as Mixed Fruit Jam, and Flavoured Beverages. Major Vendors, such as Kraft Foods (United States), Unilever (United Kingdom), Hain Holdings UK Limited (United States), B&G Foods (United States), Bonne Maman (United States), The J.M. Smucker Company (United States), Ritter Alimentos (Brazil), Kewpie (Japan), Centura Foods (United Kingdom) and Duerr & Sons (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In May 2019,'B&G Foods, Inc. announced the acquisition of 'Clabber Girl Corporation'. Through this acquisition, B&G Foods has aimed to create immediately accretive earnings per share and free cash flow and expected to generate approximately 70-75 USD million of net sales on an annualized basis.
Regulatory Insights:
Fruit preserves come under the standards of identity for preserves, jams (21 CFR 150.160) issued pursuant to the Federal Food, Drug, and Cosmetic Act. This Act defined as the solids content of the finished fruit preserves should not be less than 65 degrees, Brix.
Market Drivers
- Increase in Preference for Ready-to-Eat Products
- Development in Consumption of Premium Food Products
Market Trend
- Growing Demand for Blended Flavoured Products Such as Mixed Fruit Jam, and Flavoured Beverages
Restraints
- The Slowdown in Economy and Shutting Down of Manufacturing Process Across Various Region in the World Because of Covid-19 Pandemic
Opportunities
Rapid Adoption of Innovative and Highly Automated Manufacturing Processes and Development in Packaging Technology
Challenges
High Cost of Premium Preserves
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Preserves Study Sheds Light on
The Preserves Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Preserves industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Preserves industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.