Jujube is commonly known as red date and belongs to Ziziphus family. It is native to many Asian counties and could be easily seen in tropical climate. It is widely popular in Indian subcontinent. Jujube is considered to be highly beneficial in digestive aids and has been in usage since long back. Jujube extracts market is growing owing to its traditional usage as medicine to treat sleep disorders and depression. It contains high Vitamin C content and acts to curb cancer and other deadly disease owing to its antioxidant properties.
Cultivation of jujube is growing owing to increase demand in Europe and North America. As a result, the import has increased in these regions. As of 2018, the industry is fragmented with presence of small scale players. Over 73% of companies operational in the segment has revenue less than US$ 1 Million.
GLOBAL JUJUBE EXTRACTS MARKET IS CONSOLIDATED WITH TOP 7 PLAYER ACCOUNTING FOR 58% OF TOTAL REVENUE SHARE
Popularity of Jujube Extracts is specially concentrated to Middle East and Eastern Europe countries. As such, majority of the production centers are geographically concentrated in these regions. These regions are not only the leading producers but also leading exporters of Jujube Extracts worldwide.
As of 2018, top seven players accounted for 58% of total share in 2018. While the leading players dominates the market, there exists large number of contractual players that either operates independent or as subsidiaries to larger companies.
TASTE PREFERENCE FOR SOFT CHEESE ALONG WITH NUTRITIONAL CONTENT TO ACT AS A MAJOR CATALYST FOR GROWTH OF JUJUBE EXTRACTS MARKET
Jujube Extracts is largely seen as refreshment in Middle East and Eastern Europe countries. The sales is predominantly higher in summer climate. The product is soft and is a good source of proteins and vitamins. As such, it is largely served as a part of meal in these regions. The sales will increase further with launch of various value added products during the forecast period.
Rising disposable income and demand for premium products will also act as catalytic force to sales of Jujube Extracts worldwide.
GLOBAL JUJUBE EXTRACTS MARKET REVENUE ANALYSIS, BY TYPE
Globally, conventional Jujube Extracts will dominate the market. Lower product prices and faster production are key factors driving the sales. Conventional product dominance is largely due to supply side push. However, consumers are getting inclined towards organic food citing health concerns. As such, the companies are slowly shifting towards organic production. This also brings a large pool of opportunity to new entrants. Many small scale players are expected to emerge on low scale local production.
In 2018, conventional cheese accounted for 97.9% of total production. Organic Jujube Extracts production is expected to register 14.7% growth – thereby gaining a some portions of the market by 2028.
GLOBAL JUJUBE EXTRACTS MARKET REVENUE ANALYSIS, BY DISTRIBUTION CHANNEL
Manufacturers supply their products either directly to consumers through their own outlets or through supermarkets and other modes. In 2018, hypermarkets and supermarkets accounted for 59% of total sales. Presence of well-established network and higher influx of consumers in supermarkets are key regions for sales through such medium. Conventional stores and independent stores stands next to supermarkets.
North America Jujube Extracts Market Size:
Jujube Extracts is not that popular in the region. The region accounted for just 11% of total sales in 2017. This is significantly low comparing the sheer size of population and region popularity of being one of the highest cheese consumers in the world. Consumers are still unaware of Jujube Extracts in the region.
Few companies are betting high on Jujube Extracts owing to its higher melting point and perfect source for grilling and frying. This has led its popularity among snacks in the region. While the region accounted for a very meagre share in 2017, it will register 570 basis points to create very high revenue opportunity for players. Import is expected to touch a new record by 2028. It is expected that import will increase by 1.6X in the region during the forecast period.
Global Jujube Extracts Market Size and Forecast: Competition Landscape
The industry is bit consolidated with most of the players privately trading. Majority of them are family run business. Uhrenholt A/S, Zita Dairies Ltd, Uhrenholt A/S, Pittas Dairy Industries Ltd, and Petrou Bros Dairy Products dominated the global share. Majority of the players are headquartered in MEA and Eastern Europe.
Companies are focusing on strengthening their distribution reach to ensure long term sustainable growth. The competition in the market is expected to heighten owing to increasing demand in North America and Europe. Pricing and distribution reach will play a decisive role in future potential growth. As such, marketing spending and increase in workforce management are key trends that is likely to shape the global Jujube Extracts market in near future.
Some key Jujube Extracts market players are:
- Galaktokomio A.D.S Dafni Ltd,
- Charalambides Christis Ltd,
- Uhrenholt A/S,
- Nordex Food A / S,
- Achnagal Dairies Industry,
- Akgöl Dairy,
- Petrou Bros Dairy Products,
- CowBoy Farm Ltd,
- Zita Dairies Ltd,
- Hadjipieris Ltd,
- Olympus Cheese, Pittas Dairy Industries Ltd,
- Arla Foods Amba,
- Almarai, Sussex High Weald Dairy Ltd,
- Food and Packing Industries Ltd,
- Lefkonitziatis Dairy Products Ltd,
- Lemnos Foods Heineken UK Limited
- Pathos Continental Foods
By Product Type:
By Distribution Pattern:
- On Trade
- Convenience Stores
- General Stores
What Will You Discover in the Report?
- An in-depth analysis of the Jujube Extracts market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the Jujube Extracts market sales is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the Jujube Extracts market in near future
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the Jujube Extracts industry during the forecast period
- Who are the Jujube Extracts industry leaders and what are the key initiatives taken by them for long term growth
Who will benefit from the Report?
- Jujube Extracts Industry Suppliers
- Jujube Extracts Industry Manufacturers
- Consultants and Analysts
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