Plums And Sloes Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 19.60 Billion |
| Market Size (2029) | USD 34.30 Billion |
| CAGR (2024 - 2029) | 11.80 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
Plums And Sloes Market Analysis
The Plums And Sloes Market size is estimated at USD 19.60 billion in 2024, and is expected to reach USD 34.30 billion by 2029, at a CAGR of 11.80% during the forecast period (2024-2029).
- Plum cultivation spans the globe, with China, the United States, Spain, and Turkey leading in production. Sloe, a dark purple fruit derived from the blackthorn bush, finds itself in a myriad of applications. The global harvested area for plums and sloes is witnessing an upward trend. For instance, data from the FAO indicates that the harvested area for plums grew from 2.56 million hectares in 2021 to 2.59 million hectares in 2022. This expanding harvested area subsequently fuels market expansion.
- Celebrated for their sweetness, plums are not only enjoyed fresh but also find their way into products like jams, juices, and baked goods. Processed forms, particularly dried plums and plum juice, are gaining market traction, primarily due to their recognized health benefits, such as alleviating constipation. Moreover, the global surge in fruit-based beverages, notably juices, is amplifying the demand for plums and sloes. For instance, the British Soft Drinks Association reported that total fruit juice consumption in the UK climbed from 930 million liters in 2020 to 956 million liters in 2021. This escalating juice demand bolsters the market for both plums and sloes.
- Additionally, as production levels rise, they align favourably with the burgeoning demand for fruit juices. FAOSTAT data corroborates this, highlighting a production uptick from 12.2 million metric tons in 2021 to 12.3 million metric tons in 2022. Thus, with the increasing demand for processed foods and the expanding harvested areas for both plums and sloes, the market is poised for growth during the forecast period.
Plums And Sloes Market Trends
Increasing Usage in Food and Beverage Industry
The food and beverage industry increasingly uses plums and sloes to produce juices, cocktails, flavored spirits, and liquors. These fruits' unique and rich flavors enhance beverages and drive their popularity. The craft beverage movement's demand for authentic and distinctive flavors further supports the use of plums and sloes. As consumers become more health-conscious, they worry more about artificial additives and preservatives in their beverages. This trend has led to a rise in using real fruits, including plums and sloes, as natural and organic flavoring ingredients.
Sloes primarily find their use in crafting sloe gin and other alcoholic drinks. The cultural importance of sloe gin, especially in the United Kingdom, underpins its production and sales. Notably, the growing sales of gin in the United Kingdom also support market growth. For instance, as per Office for National Statistics (UK) gin sales in the United Kingdom surged from USD 966 million in 2021 to USD 971 million in 2023, amplifying the market for sloe-related products.
Consumers seek new and exotic flavors in beverages that promote health while offering distinct tastes. Consequently, beverage companies are launching products featuring plum and sloe fruits, fostering market growth. For instance, Hernö Distillers launched Slow Sloe Gin, made from sloe berries aged in juniper wood casks, and it is available in select retailers across Sweden. The rise in health-conscious consumers further supports the market for beverages that incorporate fruit flavors.
Europe is the Fastest Growing Market
Europe has become the fastest-growing export market for plums and sloes, driven by the historical and cultural importance of these fruits in the region. This strong cultural connection is anticipated to maintain international demand for plums and sloes. Additionally, the study period saw a significant increase in exports from countries in the region. For instance, Spanish exports of plums and sloes rose from USD 133 million in 2022 to USD 143 million in 2023, according to the ITC trade map. This increase in exports is anticipated to boost the plums and sloes market in the coming years.
Furthermore, the region's growing production is also enhancing the export market. FAOSTAT data shows that European production of plums and sloes increased from 2.7 million metric tons in 2021 to 2.8 million metric tons in 2022. This growth trend is projected to continue, particularly with the introduction and rising demand for new varieties. For example, Malling Fruits, the marketing brand for NIAB’s fruit varieties, along with FP Matthews, a leading UK fruit propagator, launched the 'Malling Elizabeth' plum variety at the Fruit Focus event in Kent. This early-season variety offers exceptional eating quality. Therefore, Europe's increasing export potential for plums and sloes, supported by cultural significance, rising production, and the introduction of new varieties, is projected to drive market growth during the forecast period.
Plums And Sloes Market News
- May 2024: Lovita introduced its new range of processed plum products, including juice, jam, and dehydrated fruit, at medFEL 2024.
- April 2023: Osotspa, a Thailand-based company, has broadened its healthy beverage portfolio to include carbonated soft drinks with the introduction of "Shark Ume Soda," a Japanese plum-flavored offering. The launch aims to deliver not only a refreshing and delightful taste but also health benefits to consumers.
Plums And Sloes Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Popularity of Plums and Sloes in the Beverage Sector
4.2.2 Increasing Export Potential for Plums and Sloes
4.2.3 Expanding Cultivation Areas
4.3 Market Restraints
4.3.1 Limited Shelf Life of Plums and Sloes
4.3.2 High Prices compared to Other Fruits
4.4 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 Geography
5.1.1 North America
5.1.1.1 United States
5.1.1.1.1 Production Analysis
5.1.1.1.2 Consumption Analysis
5.1.1.1.3 Import Market Analysis (Value & Volume)
5.1.1.1.4 Export Market Analysis (Value & Volume)
5.1.1.1.5 Price Trend Analysis
5.1.1.2 Canada
5.1.1.2.1 Production Analysis
5.1.1.2.2 Consumption Analysis
5.1.1.2.3 Import Market Analysis (Value & Volume)
5.1.1.2.4 Export Market Analysis (Value & Volume)
5.1.1.2.5 Price Trend Analysis
5.1.2 Europe
5.1.2.1 Romania
5.1.2.1.1 Production Analysis
5.1.2.1.2 Consumption Analysis
5.1.2.1.3 Import Market Analysis (Value & Volume)
5.1.2.1.4 Export Market Analysis (Value & Volume)
5.1.2.1.5 Price Trend Analysis
5.1.2.2 Serbia
5.1.2.2.1 Production Analysis
5.1.2.2.2 Consumption Analysis
5.1.2.2.3 Import Market Analysis (Value & Volume)
5.1.2.2.4 Export Market Analysis (Value & Volume)
5.1.2.2.5 Price Trend Analysis
5.1.2.3 Italy
5.1.2.3.1 Production Analysis
5.1.2.3.2 Consumption Analysis
5.1.2.3.3 Import Market Analysis (Value & Volume)
5.1.2.3.4 Export Market Analysis (Value & Volume)
5.1.2.3.5 Price Trend Analysis
5.1.2.4 France
5.1.2.4.1 Production Analysis
5.1.2.4.2 Consumption Analysis
5.1.2.4.3 Import Market Analysis (Value & Volume)
5.1.2.4.4 Export Market Analysis (Value & Volume)
5.1.2.4.5 Price Trend Analysis
5.1.2.5 Russia
5.1.2.5.1 Production Analysis
5.1.2.5.2 Consumption Analysis
5.1.2.5.3 Import Market Analysis (Value & Volume)
5.1.2.5.4 Export Market Analysis (Value & Volume)
5.1.2.5.5 Price Trend Analysis
5.1.2.6 Spain
5.1.2.6.1 Production Analysis
5.1.2.6.2 Consumption Analysis
5.1.2.6.3 Import Market Analysis (Value & Volume)
5.1.2.6.4 Export Market Analysis (Value & Volume)
5.1.2.6.5 Price Trend Analysis
5.1.3 Asia-Pacific
5.1.3.1 China
5.1.3.1.1 Production Analysis
5.1.3.1.2 Consumption Analysis
5.1.3.1.3 Import Market Analysis (Value & Volume)
5.1.3.1.4 Export Market Analysis (Value & Volume)
5.1.3.1.5 Price Trend Analysis
5.1.3.2 Hong Kong, China
5.1.3.2.1 Production Analysis
5.1.3.2.2 Consumption Analysis
5.1.3.2.3 Import Market Analysis (Value & Volume)
5.1.3.2.4 Export Market Analysis (Value & Volume)
5.1.3.2.5 Price Trend Analysis
5.1.3.3 India
5.1.3.3.1 Production Analysis
5.1.3.3.2 Consumption Analysis
5.1.3.3.3 Import Market Analysis (Value & Volume)
5.1.3.3.4 Export Market Analysis (Value & Volume)
5.1.3.3.5 Price Trend Analysis
5.1.3.4 Australia
5.1.3.4.1 Production Analysis
5.1.3.4.2 Consumption Analysis
5.1.3.4.3 Import Market Analysis (Value & Volume)
5.1.3.4.4 Export Market Analysis (Value & Volume)
5.1.3.4.5 Price Trend Analysis
5.1.4 South America
5.1.4.1 Chile
5.1.4.1.1 Production Analysis
5.1.4.1.2 Consumption Analysis
5.1.4.1.3 Import Market Analysis (Value & Volume)
5.1.4.1.4 Export Market Analysis (Value & Volume)
5.1.4.1.5 Price Trend Analysis
5.1.4.2 Argentina
5.1.4.2.1 Production Analysis
5.1.4.2.2 Consumption Analysis
5.1.4.2.3 Import Market Analysis (Value & Volume)
5.1.4.2.4 Export Market Analysis (Value & Volume)
5.1.4.2.5 Price Trend Analysis
5.1.5 Africa and Middle East
5.1.5.1 Morocco
5.1.5.1.1 Production Analysis
5.1.5.1.2 Consumption Analysis
5.1.5.1.3 Import Market Analysis (Value & Volume)
5.1.5.1.4 Export Market Analysis (Value & Volume)
5.1.5.1.5 Price Trend Analysis
5.1.5.2 South Africa
5.1.5.2.1 Production Analysis
5.1.5.2.2 Consumption Analysis
5.1.5.2.3 Import Market Analysis (Value & Volume)
5.1.5.2.4 Export Market Analysis (Value & Volume)
5.1.5.2.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Plums And Sloes Industry Segmentation
Plum is a fruit of the genus Prunus and Sloe or Blackthorn belongs to the rose family Rosaceae whose fruit is consumed. The Plums and Sloes Market is segmented based on geography into North America, Europe, Asia Pacific, South America and Africa and the Middle East covering all the major countries. The report provides an analysis of the production, consumption, export, import and price trends of the commodity, globally. The report offers market size and forecasts in value (USD) and volume (Metric tons) for all the above segments.
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Plums And Sloes Market Research Faqs
How big is the Plums And Sloes Market?
The Plums And Sloes Market size is expected to reach USD 19.60 billion in 2024 and grow at a CAGR of 11.80% to reach USD 34.30 billion by 2029.
What is the current Plums And Sloes Market size?
In 2024, the Plums And Sloes Market size is expected to reach USD 19.60 billion.
Which is the fastest growing region in Plums And Sloes Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Plums And Sloes Market?
In 2024, the Asia Pacific accounts for the largest market share in Plums And Sloes Market.
What years does this Plums And Sloes Market cover, and what was the market size in 2023?
In 2023, the Plums And Sloes Market size was estimated at USD 17.29 billion. The report covers the Plums And Sloes Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Plums And Sloes Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Plums And Sloes Industry Report
Statistics for the 2024 Plums and Sloes market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Plums and Sloes analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Plums And Sloes Market Report Snapshots
