The Apple Market to increase by USD 10.12 billion from 2021 to 2026 | The increasing demand for superfoods to boost market growth - Technavio

NEW YORK, Sept. 7, 2023 /PRNewswire/ -- The apple market is expected to grow by USD 10.12 billion from 2021 to 2026, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 2.38% during the forecast period. Increasing demand for superfoods is notably driving the apple market. However, factors such as frequent product recalls may impede market growth. The market is segmented by distribution channel (offline and online) and Geography (APAC, Europe, Middle East and Africa, North America, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis

The market is segmented by distribution channel (offline and online) and geography (APAC, Europe, Middle East and Africa, North America, and South America).

The market share growth in the offline segment will be significant during the forecast period. Among the major distribution channels to be considered in this segment are hypermarkets, supermarkets, retail outlets, and convenience stores. In addition to giving consumers a choice between different kinds of fresh fruit, such as apples, offline distribution channels enable them to buy in an easier way. One major factor that is likely to boost the sale of apples by means of a brick-and-mortar distribution channel will be an increase in the number of retailers who offer apples as part of their brands. A large selection of apples is available in the US-based Walmart, which is an international wholesale company that operates a network of supermarkets, hypermarkets, and department stores. Gala apples, Honeycrisp apples, Granny Smith apples, SweeTango Apples, and Rockit apples are some of the most popular products that this company offers. Moreover, there is a focus on expansion in some of the traditional retail shops that offer varieties of fresh fruit. Hence, these factors are expected to drive segment growth during the forecast period.

To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.

Geographical Market Analysis 

APAC is estimated to contribute 44% to the growth of the global market during the forecast period. The growth of the apple market in this region is driven by major markets such as China, India, and Australia. In addition, with growing awareness among consumers about the health benefits associated with apple consumption, improved economic situation, and increased availability across different distribution channels, it is expected that demand for apples will increase in this region. Furthermore, demand for quality fruit such as apples has increased due to the sustained growth of cities and improving living standards. For example, in March 2022 Coca Cola India, a subsidiary of the Coke Company, launched Fanta's new flavored apple flavor offering, Apple Delite, further expanding its multicolored assortment across India with an irresistible variety of apples. As a result, there will be a growth in demand through this expansion of retail stores, as well as the new launches of F and B Apple products. Hence, these factors are expected to drive market growth in the region during the forecast period.

Company Insights 

The apple market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Anderson Orchard, Auvil Fruit Co. Inc., Batlow Fruit Co. Pty Ltd, Borton and Sons, CMI Orchards LLC, Evans Fruit Co, Fowler Farms, Fruit Hill Orchard, Gebbers Farms, Gilbert Orchards, Hope Orchards, Kroger Co., Mercier Orchards, Roche Fruit, Shenandoah Valley Orchards, Singh Apple Orchards, Stemilt Growers LLC, Symms Fruit Ranch Inc, W. F. Montague Pty Ltd, and Washington Fruit Growers

View the PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The superfoods market size is estimated to grow at a CAGR of 6.82% between 2022 and 2027. The market size is forecast to increase by USD 64.8 billion. This superfoods market report extensively covers market segmentation by product (superfruits, superseeds and supergrains, edible seaweed, and others), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). One of the key factors driving the superfood market growth is the growing adoption of superfoods.

The vegan food market size is estimated to grow at a CAGR of 12.07% between 2022 and 2027. The market size is forecast to increase by USD 20,034.3 million. This vegan food market report extensively covers market segmentation by distribution channel (offline and online), product (dairy alternative, meat alternative, and eggs and others), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). Growing number of vegan consumers is the key factor driving the growth of the market. 

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio