NEWARK, Del, March 14, 2023 (GLOBE NEWSWIRE) -- The global fruit snacks market is anticipated to register a flourishing CAGR of 7.4% across the forecast period from 2022 to 2032. The global market was valued at US$ 5,456 Million in 2022 to reach a valuation of US$ 11,120 Million by 2032.
According to the Future Market Insights historical analysis, the global fruit snacks market registered a CAGR of 5.5% from 2016 to 2021. The growth of the market during the present evaluation period is attributed to the increasing demand for essential vitamins and minerals to boost immunity along with improved demand for fiber-enriched products.
Fruit snacks are processed fruits in the form of snacks produced in the food and beverage industry. Examples of fruit snacks are smoothies, fruit chunks, applesauce dip, fruit salad, popsicles, fruit sandwiches, and many others.
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These food products have high vitamin and mineral content. They are rich in potassium, magnesium, vitamin A, and more and are healthy for human consumption. Some of the health benefits attributed to fruit snacks are; mitigation of the risk of cardiovascular diseases, high blood pressure, and weight diseases like obesity and diabetes.
Report Highlights
The rising awareness of the adverse effects of consuming artificial or synthetic products is a crucial factor triggering the growth of the fruit snacks market over the evaluation period. Furthermore, consumers are conscious of the quality of food items they consume, so they are ready to spend on natural food products since they are of high quality compared to artificial food products.
The European market is expected to create lucrative growth over the assessment period. Owing to the continuous technological advancements in the food and beverage industry and strong innovations and investments in research and development activities are expected to provide lucrative opportunities for fruit snacks market expansion.
Increasing government initiatives are anticipated to add to consumer awareness and preferences when it comes to fostering sales of fruit snacks. The growth of the market is spurred by the increasing prevalence of epidemics related to obesity, government organizations have begun promoting healthy living habits and urging people to rethink their dietary strategies.
Fruits and natural products obtained from plants are edible and rich in nutrients and minerals. They consist of various types such as berries, citrus, apples and pears, melons, tropical and exotic, stone fruits, and many more. Furthermore, fruits have many health benefits when consumed either in raw or processed form, e.g., fruit sandwiches and fruit salad. For instance, orange is a rich source of vitamin C essential for the repair and development of body tissues.
The increased consumption of fruits helps in the maintenance of cartilage and the fast healing of wounds. Such health benefits are anticipated to drive the growth of the fruit snacks market over the evaluation period. The global fruit snack market is expected to witness tremendous growth over the forecast period.
Despite the wide user base of the fruit snacks market, there are multiple obstacles that are likely to pose a challenge to market growth. The growth of the global fruit snacks market is going to be hampered by the rising consumers’ perception regarding the harmful effect of consuming processed food items.
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Competitive Landscape
Some of the major participants present in the global fruit snacks market consist of Welch Foods Inc., General Mills Inc., SunOpta, Kellogg Co., Sunkist Growers, Inc., and Crunchies Food Company among others.
Owing to such a high presence of participants in the industry, the global fruit snacks market is highly competitive. While global players such as Welch Foods Inc., General Mills Inc., SunOpta, and Kellogg Co account for considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
In March 2022, B&G Foods have announced the launch of cinnamon toast, a crunch creamy cinnamon spread. The first opportunity for consumers to spread, swirl and drizzle the flavor of the beloved cereal on just about anything.
More Insights into the Fruit Snacks Market
The North American region is anticipated to dominate the global fruit snacks market over the assessment period. The region accounted for a total market share of around 33.6% in 2022. Furthermore, the growth of the market in the region is attributed to increased product innovations across the snacking industry offering exclusive tastes and focused on health amendments.
The rising demand for essential vitamins and minerals to boost immunity along with improved demand for fiber-enriched products will propel the fruit snacks market to greater heights in the region.
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Key Segments Profiled in the Fruit Snacks Industry Survey
Fruit Snacks Market by Application:
- Fruit Snacks for Beverages
- Fruit Snacks for Dairy Products
- Fruit Snacks for Sweets and Savory
- Fruit Snacks for Other Applications
Fruit Snacks Market by Distribution Channel:
- Fruit Snacks Sales through Supermarket/Hypermarkets
- Fruit Snacks Sales through Convenience Stores
- Fruit Snacks Sales through Online Retailing
- Fruit Snacks Sales through Specialist Retailers
- Fruit Snacks Sales through Other Distribution Channels
Fruit Snacks Market by Region:
- North America Fruit Snacks Market
- Latin America Fruit Snacks Market
- Europe Fruit Snacks Market
- Asia Pacific Fruit Snacks Market
- Middle East and Africa Fruit Snacks Market
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Fruit Concentrate Puree Market Forecast: Fruit concentrate puree market estimated to grow with a CAGR of 6.8% to a value of USD 3282.2 Mn for the forecast period of 2022-2032.
Better for You Snacks Market Size: The global better for you snacks market is expected to reach a valuation of US$ 37 Bn by 2022, accelerating at a CAGR of 6.5% during 2022-2032.
Savory Snacks Market Demand: The market value projected to increase is from USD 274.9 Bn in 2022 to USD 410.9 Bn by 2032.
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