The tangerine jam market is expected to grow at a compound annual growth rate of 4.23% over the forecast period to reach a market size of US$1,241.657 million in 2026 from US$923.235 million in 2019.
Tangerine Jam is a citrus-flavored jam produced from fresh tangerines and is a hybrid fruit belonging to citrus fruit and is widely grown in tropical areas of Asia. They are widely consumed as a healthy diet especially by those people who face several health conditions such as clogged arteries, indigestion, and asthma. Owing to the several nutritious values, the consumers are adding it to their daily diet including as dessert, breakfast, or as the key ingredient in breakfast or any other food preparation
Tangerine Jam is a source of Vitamin C, Vitamin, calcium among other nutrition that offers health benefits, and cause of this, it is in great demand among children. The nutritional value of the tangerine jam is the biggest factor that is driving the market. The consumers are widely using as on toast, baked products, ice cream, and puddings, etc.
The increase in the use of social media and more individuals are signing up for it have led to celebrities and others using the platform to share the ideas for the application of tangerine jam and gaining popularity. New recipes are being innovated and shared among people including healthy recipes for children. These are increasing the demand for jam.
As the disposable income is increasing, the consumers want to try new products and are willing to pay a higher price for them. Consumers are also adopting gourmet jams as an indulgent luxury and are even gifting them to others.
The tangerine jam market is facing various challenges, for instance, the growing trend of organic food and rising health awareness. The increase in the consciousness among the consumers in the choice of food and its nutritional value is predicted to impact the tangerine jam market. The manufactures are currently focusing on producing tangerine jams with natural sweeteners like high fructose syrup and real fruit ingredients without artificial colors and flavors.
The healthy and new product launches are gaining a lot of popularity and also provide huge market opportunities for the key players in the tangerine jam market. The growth of the market can be attributed to health-conscious consumers and parents. Many companies are currently focusing on organic growth strategies and events such as product approval, product launch, and patents to gain market share and increase their foothold in the forecasted period.
Healthy and Low-Sugar to hold a prominent market share
In terms of product types, the tangerine jam market is segmented into High Sugar Jam and Low Sugar Jam. The low sugar jam is anticipated to grow substantially in the coming years due to the rising health consciousness among consumers. As tangerine jam has various health benefits, consumers are adopting the jam in various products. For instance, the consumers including the children are consuming tangerine jam in their breakfast or breakfast applications.
The manufactures are focusing on launching organic and healthy varieties with low-carb and low-fat diets or that have low sugar or sugar-free and low fat. In addition, they are even introducing natural and real fruits that are infused with special ingredients like honey, chia seeds, herbs, and spices, among others.
The tangerine jam market has been analyzed concerning five regions: Asia Pacific, Middle East, and Africa, North America, South America, and Europe.
Asia Pacific region is predicted to hold a major share of the tangerine market during the forecasted period due to the rise in the consumption of the tangerine jam. Consumers are using tangerine jam in various applications of the food industry. This region is also observing the rise intend of fitness and health awareness, the consumers are more conscious about the food that they consume. The manufactures are trying to keep up with the trend and are currently focusing on that region to launch healthy and organic products.
North America is observing the increase in demand for convenient food that is leading to the expansion of the market of jam. The manufactures of North America are using sugar alternatives, like pectin and ripe and semi-ripe fruits with the motive to make the products tastier and more colorful. The market is also shifting from the normal sweet jam to other flavors such as sweet and smoky, sweet and tangy.
Whereas, in Europe, the market of tangerine jam is expected to grow and account for a major share in the forecasted period due to the wide usage and adoption of the tangerine products include jam as the jam is included in their traditional custom of eating.
By the distribution channel segment, the tangerine segment is divided into hypermarket/supermarket, grocery stores, online, and others. The supermarket segment holds a larger market share as there is a wide availability of different varieties and are easily accessible. But the online segment is seeing a rise in the demand for the tangerine jam, this is due to heavy discounts and the Covid-19 pandemic forced everyone to stay home where online was the only source to order foods and other supplies. This upsurge of the online segment is forcing offline stores to shut across the globe.
The rise in the trend of social media is also driving the market of the online segment as the companies are finding social media as their platform to market their product while linking the online website to purchase for easy access.
Frequently Asked Questions (FAQs)
Q1. What will be the tangerine jam market size by 2026?
A1. The global tangerine jam market is expected to reach a total market size of US$1,241.657 million by 2026.
Q2. What are the growth prospects for tangerine jam market?
A2. The tangerine jam market is expected to grow at a CAGR of 4.23% during the forecast period.
Q3. What is the size of global tangerine jam market?
A3. Tangerine Jam Market was valued at US$923.235 million for the year 2019.
Q4. Which region holds the maximum market share of the tangerine jam market?
A4. Asia Pacific region is predicted to hold a major share of the tangerine market during the forecasted period due to the rise in the consumption of the tangerine jam.
Q5. What factors are anticipated to drive the mini-led market growth?
A5. The nutritional value of the tangerine jam is the biggest factor that is driving the market.