Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Global Dried Fruit Market by Type (Apricots, Berries, Dates), Drying Method (Freeze Drying, Microwave Drying, Solar Drying), Form, Distribution, Application - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Dried Fruit Market grew from USD 10.98 billion in 2023 to USD 11.60 billion in 2024. It is expected to continue growing at a CAGR of 5.70%, reaching USD 16.20 billion by 2030. 
This preservation process helps extend the shelf life of the fruits and concentrates their flavor, sweetness, and nutrients. Increasing health consciousness among consumers who seek nutritious snack alternatives, rising disposable incomes leading to higher spending on premium products, and expanding retail channels such as supermarkets & hypermarkets offering convenience in purchase drive the market growth.
However, fluctuations in raw material costs affect pricing strategies and high dependence on climatic conditions for optimal crop yield, leading to a vulnerability in supply chain disruptions due to unforeseen weather events or pest infestations that hamper market growth. Developing innovative packaging solutions to enhance product appeal while ensuring increased shelf life, ease of storage and transport, and Investment in research and development for new applications of dried fruits in pharmaceuticals, nutraceuticals, and cosmetic segments has further enhanced the market's growth in the forecasted period.
Regional Insights
The Americas has a significant landscape in the dried fruit market driven by health-conscious consumers, an increasing preference for nutritious snacks, the presence of major players, and the increasing number of national and international suppliers in the region. The European Union (EU) countries have a robust market owing to their high population density, disposable income levels, and awareness about the nutritional benefits of dried fruits.
The Middle East boasts a rich history of dried fruit consumption due to its longstanding cultural ties with these products. Africa's dried fruit market is relatively smaller but has enormous prospects for growth due to its vast resources of tropical fruits. The APAC region has immense potential for the global dried fruit industry due to rising consumer awareness about health benefits, an expanding middle class, and urbanization trends that fuel the growth of the dried fruit industry.
Recent Developments
Bolas Dry Fruits and Nuts goes on expansion spree with launch of 20 new stores in Bengaluru
Bolas Agro Private Limited recently unveiled 20 new retail stores in Bengaluru. Bolas takes pride in offering a personalized shopping experience, presenting premium nuts at factory-direct prices to promote optimal nutrition. This expansion revolutionized customers' perception of dried fruits, dispelling the notion that they are exclusive luxury items. With this recent launch, Bolas aims to educate customers about the myriad benefits of incorporating diverse nut varieties into their diets, ultimately contributing to their overall well-being.
The Ugly Company targets expansion with USD 9M in funding
The Ugly Company, a dried fruit snack producer, has recently secured USD 9 million in Series A funding. This substantial investment bolsters their processing capacity and accelerates their expansion efforts. As part of their growth strategy, they acquired a Farmersville manufacturing plant to facilitate increased production capacity.
Indian dried fruit and nuts marketplace Farmley secures USD 6M in Series A
Farmley, a marketplace for Indian dry fruits, seeds, and nuts, has successfully raised USD 6 million in its Series A funding round. The demand for convenient and nutritious snacking options is on the rise, which includes nuts, dried fruit, granola, cereals, and seeds. Farmley aims to provide unadulterated products directly to customers at lower costs by eliminating middlemen. The company's products are now available in 20 cities across India and the U.S., Australian, and Middle Eastern markets.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $11.6 Billion |
| Forecasted Market Value (USD) by 2030 | $16.2 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Market Insights
Market Segmentation Analysis
- Type: High consumption of apricots due to its associated health benefits
- Drying Method: Significant adoption of freeze drying method owing to its superior nutritional value retention and rehydration capabilities
- Distribution Channel: Penetration of online distributional channel providing product variety and shopping convenience
- Application: Proliferating use of dried fruits in confectioneries & bakery products
Market Drivers
- Rising awareness toward nutritious and healthy snacks
- Increasing use of dry fruits in processed food products
- Adoption of dry fruits as a healthier gifting alternative worldwide
Market Restraints
- Fluctuating costs of dry fruits due to supply chain disruptions
Market Opportunities
- Processing and packaging advancements associated with dry fruits
- Widespread availability of dry fruits on online channels
Market Challenges
- Production constraints due to climate impacts
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Key Company Profiles
- AGRANA Beteiligungs-AG
- Agthia Group PJSC
- Angas Park Fruit Co.
- Archer Daniels Midland Company
- Bergin Fruit and Nut Co. Inc.
- Berrifine A/S
- Chaucer Foods Ltd
- Dohler GmbH
- European Freeze Dry
- Farmley by Connedit Business Solutions Private Limited
- FutureCeuticals, Inc.
- Geobres S.A.
- KBB NUTS PVT. LTD.
- Kiril Mischeff Limited
- LIOGAM Forys Kot Przeslak sp. j.
- Lion Raisins, Inc.
- Naturz Organics
- Ocean Spray Cranberries Inc.
- Paradise Fruits Solutions GmbH and Co. KG
- Royal Nut Co.
- Seawind International LLC
- Sun-Maid Growers of California
- Sunbeam Foods
- Sunsweet Growers Inc.
- Woodland Foods Ltd.
- Worlee NaturProdukte GmbH
Market Segmentation & Coverage
Type
- Apricots
- Berries
- Dates
- Figs
Nuts
- Almonds
- Cashews
- Hazelnuts
- Pistachios
- Walnuts
- Peaches
- Pears
- Prunes
- Raisins
Drying Method
- Freeze Drying
- Microwave Drying
- Solar Drying
- Vacuum Drying
Form
- Dices, Rings & Chunks
- Flakes
- Powder
- Slices
- Whole
- Distribution
Offline Mode
- Convenience Stores
- Specialty Stores
- Supermarket & Hypermarket
- Online Mode
Application
- Cereals
- Confectioneries & Bakery products
- Dairy Products
- Desserts
- Snacks & Bars
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/vdsmac
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