One of the key challenges faced by the dried cranberry market is the availability of substitute products like raisins, dried blueberries and figs. These products can be used in similar recipes and food preparations where dried cranberries are generally used. Raisins have been in the market for a very long time and have widespread availability and recognition. They are also generally cheaper than dried cranberries. Similarly, dried blueberries and figs are increasingly becoming popular alternatives.
Market Opportunity: Product innovation to suit changing consumer tastes
The market has growth potential through product innovation, catering to health-conscious consumers with evolving tastes. Companies can explore new cranberry product lines, like mixes with fruits, nuts, and spices, or functional products like probiotic cranberry drinks for gut health. Research-backed claims can boost consumer trust, with 60% of global consumers valuing scientific evidence in food choices, as per a 2021 FAO report.
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