Paris, Oct. 13, 2022 (GLOBE NEWSWIRE) -- Fact.MR provides first-hand knowledge of all the opportunities in the fruit snacks market, along with the drivers, restraints, and challenges, in order to offer a thorough insight of the current and projected industry conditions. Additionally, in order to provide a deeper understanding, it covers numerous segments such as nature, product type, distribution channel, and region.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global fruit snacks market is anticipated to grow at an astonishing CAGR of over 8.5% during the forecast period (2019-2027). Sales in the market are likely to surpass a valuation of US$ 9 Billion by the end of 2027. Increasing health-consciousness among consumers and rising preference for convenience food products across the world are some key factors that are expected to drive the market.
Fruit snacks are processed fruits, which are nutritious for human consumption and are loaded with vitamins and minerals, including potassium, magnesium, vitamin A, and more. Thus, fruit snacks have been linked to a number of health benefits, including reduced risk of diabetes, high blood pressure, and disorders of the weight like obesity.
The market for fruit snacks is being driven by the growing trend of following a healthy diet. Numerous government organizations are urging people to adopt healthy lifestyle choices and include more protein-rich foods in their daily diets. In addition, more nutritious on-the-go snack products are being crafted to fulfill the growing demand, which would drive the global fruit snacks market in the next decade.
Further, the development of new products using advanced technologies, as well as investments in research and development will drive growth in the fruits snacks market. Manufacturers are luring customers in with healthier products like freeze-dried fruits and trail mixes that do not contain gluten. Additionally, in order to meet high consumer expectations, businesses are investing in cutting-edge production and packaging techniques, which are anticipated to accelerate market expansion.
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In 2022, North America is set to dominate the global market for fruit snacks. Increased product innovations across the snacking sector to offer unique taste to consumers is likely to drive the market. Constant focus of businesses on health improvements by equipping their products with natural ingredients is also expected to aid growth. Demand for various types of fruit snack items is anticipated to increase as health-conscious consumers become more aware about the benefits of consuming these snacks.
Key Takeaways:
- Based on distribution channel, the online stores or e-commerce segment is anticipated to exhibit a CAGR of 12% in the evaluation period.
- By product type, the sweets and savories segment is projected to account for more than 37% of the global fruit snacks market share by 2027.
- In North America, the U.S. is estimated to remain at the forefront by generating the largest fruit snacks market share in the next decade.
- Based on distribution channel, the online stores and convenience stores are expected to gain traction over the upcoming decade.
- In terms of nature, the natural segment is likely to dominate the global fruit snacks market with increasing concerns regarding obesity and diabetes.
Growth Drivers:
- Rising demand for dairy products free of sugar and additives is expected to boost the need for fruit snacks.
- Growing demand for sweet and savory fruit snacks among kids aged 3 to 7 years is anticipated to fuel the market.
- Shifting tastes & preferences, easy access to exotic fruits, greater production, and supportive trade policies are expected to drive the market.
Restraints:
- Fruits have a short shelf life and can easily get rotten, which makes it difficult for manufacturers to process them to make their snacking products.
- Growing awareness about the harmful effects of processed food consumption may impede the market.
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Competitive Landscape:
Due to the presence of a large number of competitors, the fruit snacks market is fiercely competitive. Market players are mainly focusing on launching new products through research and innovation to boost their presence.
For instance,
- In September 2021, PIM Brands added two new flavors to its creamy Welch's Fruit 'n Yogurt Snacks products mix, with the introduction of Welch's Blueberry-Acai and Welch's Mango-Peach Fruit 'n Yogurt Snacks.
- A new, limited-edition "Pringles Wavy Chipotle Ranch" with a sweet and spicy flavor was launched by Kellogg's in June 2022. This new variant's release encourages product innovation, which would boost sales.
Key Companies Profiled by Fact.MR
- Nims Fruit Crisps Limited
- Pioneer Food Group
- Sunkist Growers Inc.
- Tropical Foods
- GANONG BROS.
- A.S LIMITED
- Flaper S.A.
- Nutty Goodness
- THE WHITEWAVE FOODS COMPANY
- Paradise Inc.
- Kellogg Co.
- SunOpta
- Bare Snacks
- Welch Foods
- General Mills Inc.
- Crunchies Natural Food
- Crispy Green Inc.
- Mount Franklin Foods
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More Valuable Insights on Fruit Snacks Market
In its latest study, Fact.MR offers a detailed analysis of the global fruit snacks market for the forecast period of 2019 to 2027. This study also divulges key drivers and trends promoting the sales of fruit snacks through detailed segmentation as follows:
By Nature:
- Organic
- Conventional
By Product Type:
- Sweets & Savories
- Freeze Dried
- Extruded Strips
- Others
- Dairy Products
- Beverages
By Distribution Channel:
- Modern Trade
- Specialty Stores
- Convenience Stores
- Online Stores
- Departmental Stores / Mom & Pop Stores
- Drug Stores & Pharmacies
- Travel Retails
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Key Questions Covered in the Fruit Snacks Market Report
- What was the estimated market size of fruit snacks in 2019?
- At what pace will worldwide fruit snacks increase till 2027?
- What factors are driving demand in the fruit snacks market?
- Which region is predicted to lead the worldwide fruit snacks market between 2019 and 2027?
- What are the elements driving fruit snacks market sales during the forecast period?
- What is the expected market estimation of the fruit snacks during the forecast period?
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Dried Fruit Extracts Market: The global market for dried fruit extracts is set to generate about US$ 8.9 Billion in terms of revenue in 2022, and by the end of 2032, it is expected to be valued at US$ 15.8 Billion. From 2022 to 2032, the demand for dried fruit extracts is expected to grow at a CAGR of 5.9%. Due to increased demand for nutrient-rich diets and foodstuffs around the world, the dried fruit extracts market is predicted to rise rapidly over the course of the projected period.
Processed Fruit Bases Market: The global processed fruit bases market is projected to grow at a fast pace with their increasing use in the food and beverage processing sector, which accounts for one-third of the market. During the projection period, sales of processed fruit bases are set to surge owing to their growing use in hotels, cafes, restaurants, bakeries, and other food-related businesses.
Baby Fruit Puree Market: Essential vitamins and minerals are present in baby fruit puree, which aids in an infant's overall growth. It is projected that there would be bigger returns for investors in the baby fruit puree market during the forecast period as a result of the constantly rising demand.
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