IMARC Group, a leading market research company, has recently released a report titled “Fruit Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the fruit snacks market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Fruit Snacks Market?
The global fruit snacks market size reached US$ 6.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.3 Billion by 2028, exhibiting a growth rate (CAGR) of 7.69% during 2023-2028.
What are Fruit Snacks?
Fruit snacks are confectioneries that undergo a processing method involving fruit juice and pulp. They are made using a variety of fruits, such as apples, mango, banana, berries, and pineapple, along with other additives, including sugar, gelatin, corn syrup, and fruit concentrate. These fruits are typically preserved through freeze-drying technique, which helps maintain their natural flavor and nutritional value. Moreover, thickening agents, preservatives, and natural and artificial flavoring agents are added to enhance their texture and taste. Some of the commonly available fruit snacks include smoothies, fruit chunks, dips, popsicles, fruit sandwiches, drinkable jellies, flavored gummies, and jelly strips. In addition to their delicious taste, they are enriched with vitamins, minerals, and other essential nutrients for maintaining a balanced diet. Compared to other snacks made using gelatin, fruit snacks offer advantages, such as convenient storage, extended shelf life, and a higher nutritional value. They also provide numerous health benefits, including the potential to reduce the risk of cardiovascular diseases, high blood pressure, and weight-related conditions like obesity and diabetes. As a result, fruit snacks are gaining immense traction across the globe due to the rising demand for nutrition-rich refreshments for both children and adults.
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What are the growth prospects and trends in the fruit snacks industry?
The global fruit snacks market is primarily driven by rapid growth in the food and beverage industry and the increasing consumer preference for ready-to-eat (RTE) snacks and convenient food products. Moreover, the augmenting demand for functional foods and beverages and nutrient-rich processed products is positively influencing the market growth. Along with this, the rising awareness about health benefits associated with fruit snacks and the shifting consumer inclination toward eco-friendly and premium products are propelling the market growth. Apart from this, the introduction of fruit snacks in exotic tropical fruit flavors, produced using organic and non-genetically modified (GMO) ingredients, has catalyzed market growth. In addition, manufacturers are utilizing attractive packaging and implementing aggressive promotional activities through online retail channels to reach a wider consumer base, thereby propelling market growth.
Additionally, the rising demand for fruit snacks owing to changing dietary preferences and increasing inclination towards healthier snacking options is another major growth-inducing factor. Besides this, the easy availability of fruit snacks through online and offline organized retail channels has accelerated the product adoption rate. Furthermore, the introduction of fruit snacks in exotic and tropical flavors is contributing to the market growth. Other factors, including the growing consumer health consciousness, extensive research and development (R&D) activities by key players, and inflating consumer disposable incomes, are also anticipated to drive the market further.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Sweet and Savory Chips
- Fresh Cuts and Slices
- Candies and Bars
Breakup by Fruit Type:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Food Stores
- Online Stores
Market Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Bare Foods Co. (PepsiCo Inc.)
- Brothers International Food Corporation
- Chaucer Foods Ltd. (Pilgrim Food Group Plc)
- Crispy Green Inc.
- General Mills Inc.
- Kellogg Company
- Nutty Goodness LLC
- Sunkist Growers Incorporated
- SunOpta Inc.
- The Hershey Company
- Welch Foods Inc.
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