Currently, worldwide fruit snacks market valuation of US$ 5.9 billion and is projected to increase at 7.8% CAGR from 2023 to 2033. The global fruit snacks market is forecasted to reach a value of US$ 12.5 billion by the end of 2033.
Due to the emergence of chronic illnesses and the increasing mortality rates brought on by these illnesses, more people are choosing to live healthy lifestyles that encourage the consumption of wholesome meals and snacks. As the well-known proverb “An apple a day, keeps the doctor away” suggests, fruits have long been considered a healthy food choice. By developing snacks that include fruits in their production and meet the need for healthy snack foods, snack food manufacturers are attempting to take use of fruits’ healthful attributes.
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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.
- 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.
Competitive Landscape:
Leading fruit snack manufacturers are deploying innovative marketing campaigns to maximize their sales potential and bolster revenue generation capacity over the coming years. Companies are also focusing on launching new products to expand their product portfolio and gain a competitive advantage over other market players.
- In January 2023, Welch’s® Fruit Snacks and Flowcode announced the launch of an interactive digital campaign called The Welch’s® Fruit Snacks Big Game Giveaway featuring Mark Andrews, a professional football player.
- In July 2022, RIND® Snacks, a manufacturer of functional whole-fruit snacks announced the exclusive launch of Peach Chips. The limited-time product offers stone fruit flavors with a crispy crunch.
Prime fruit snack suppliers are also focusing on mergers, acquisitions, collaborations, and partnerships to bolster their market presence and enlarge their market share in the global landscape.
- In January 2023, the FMCG arm of Sanjay Ghodawat Group (SGG), Ghodawat Consumer Limited (GCL) announced the acquisition of ‘To Be Honest (TBH)’, a start-up offering unique vegetable and fruit snacks. The acquisition strengthened GCL’s market presence in the Indian marketplace.
Key Companies Profiled:
- 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
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.
Key Segments of Fruit Snacks Industry Research:
· By Nature :
- Organic
- Conventional
· By Distribution Channel :
- Modern Trade
- Specialty Stores
- Convenience Stores
- Online Stores
- Departmental Stores/Mom & Pop Stores
- Drug Stores & Pharmacies
- Travel Retail
· By Product Type :
- Sweets & Savories
- Freeze Dried
- Extruded Strips
- Others
- Dairy Products
- Beverages
· By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Questionnaire answered in the Market outlook Report of Fruit Snacks include:
- What is the key strategy deployed by large players to maximize Fruit Snacks growth?
- What are the main challenges faced by players in the Fruit Snacks Demand?
- With the advent of technological advancement, how will the Fruit Snacks landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Fruit Snacks size?
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