Fruit Snacks Market size to exceed $8bn by 2025
Published Date: June 19, 2019 Authors: Kunal Ahuja, Amit Rawat
Global Fruit Snacks Market size is estimated to surpass USD 8 billion by 2025; according to a new research report by Global Market Insights, Inc.
Factors such as rising health concerns, busy & hectic lifestyle and unhealthy eating habits in youngsters is propelling the market for fruit snacks market. Government initiatives such as marketing of products via brand ambassadors, conducting various health/food seminars and availability of food guide at hospitals, medical and other stores will further strengthen industry expansion. Increasing consumer awareness towards healthy eating habits, that aids in digestion, improved memory, heart health and stroke prevention will boost the demand for fruit snacks market. Expanding government interventions in the industry to promote health and wellness of the consumers will foster the industry share.
Increasing obesity epidemic and other related diseases such as diabetes and hypertension has led to stringent regulations by the government worldwide on food safety and consumption patterns. For instance, government of Spain has notified its plans to cut sugar, salt and fat content in over 3,500 food and beverage products in next three years. Also, Coke and PepsiCo have decided to reduce the sugar content in their carbonated beverages and juices in India by 2025. Owing to this, demand for snacks with low sugars & low carbohydrates and salts and rich in fiber will stipulate the business expansion.
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Considering consumer comfort and preference and to sustain profits, manufacturers are approaching with innovative and ease in packaging of products along with increasing product affordability and availability in nearby stores. Most of the products are stored in disposable plastic packaging that does not need to be refrigerated; therefore, they can be taken nearly anywhere.
Increasing purchasing power coupled with other factors such as increasing living standards, rising disposable income and changing trends towards convenience foods habits will boost the demand for vigorous food products in the market. Also, easy digestive properties are making the product popular among adults and working women, supporting the product demand. Additionally, growing demand for organic & non-GMO products and increasing number of all vegan consumers will further lift the industry share. For instance, according to the vegan society, vegan population in UK accounted for 600,000 in 2018.
Browse key industry insights spread across 350 pages with 224 market data tables & 13 figures & charts from the report, “Global Fruit Snacks Market Size By Type (Sweets & Savory [Freeze Dried, Extruded Strips, Others], Beverages, Dairy, Others, By Fruit Family (Apple, Mango, Banana, Pear, Pineapple, Berry, Mixed, Others), By Distribution Channel (Mainstream Stores, Specialist Stores, Online Retailers, Others)Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Global fruit snacks market from dairy is expected to witness over 8% CAGR up to 2025 in terms of volume. Increasing demand for protein rich foods coupled with growing number of organic product consumers will drive the fruit snacks market in dairy segment. Snacks such as flavored milk, yogurt, among others helps in increasing the energy levels and physical performance. Factors such as rich nutrients, convenience to consume and taste positively influences the consumption of dairy products. Increasing demand for dairy snacks in emerging economies owing to rising demand for nutritious foods will propel the industry growth.
Fruit Snacks Market from banana is expected to register over USD 1 billion by 2025. Bananas are rich in nutrients and helps control blood sugar levels and improve digestive health and are used to prepare variety of products including breads, jams, purees, jam, sauce, confectionary and other snacks. Rising demand for overall fruit snacks will propel the demand. India holds largest share in banana production accounting to 29.19% according to FAO. Increasing production and trade in the global scenario will propel the business expansion.
Fruit snacks market through online retailers is expected to register over 9% CAGR up to 2025 in terms of revenue. Increasing number of internet users coupled with emergence of innovative technologies has surged the online consumption. Factors such as buying convenience, less time requirement and availability of hefty options will support the market expansion. Shifting consumer preferences towards healthy and premium snacks are turning consumers towards online retail owing to their availability on distribution channel will prosper the industry expansion.
Asia Pacific holds around 12% share in global fruit snacks market in 2018. Key factors including increasing income, population growth, technological advancement and digital revolution will drive the fruit snacks market in the region. Emerging economies such as China and India play an important role in terms of production and consumption owing to changing lifestyle, rapid urbanization and rising working population. Greater demand for ready-to-eat and convenience foods will drive the fruit snacks market.
The global fruit snacks market is highly fragmented market due to occurrence of various large, national, multinational players in the market. key industry participants include Sunkist Growers, SunOpta, General Mills, Welch’s and Kellogg, Bare Foods, Crunchies Natural Food, Crispy Green, Flapper. For instance, General Mills in July 2018, introduced four new flavors in yogurt products. The launch of French style yogurt has increased the sales and profits for General Mills. Other notable players in the industry include Mount Franklin Foods, Nutty Goodness, Paradise, Whitewave Services and Tropical Foods, Ganong Bros Ltd, A.S. Watson Group, PT Monysaga Prima.
Fruit snacks market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilotons & revenue in USD million from 2013 to 2025, for the following segments:
Fruit Snacks Market By Type
- Sweets & savory
- Freeze Dried
- Extruded Strips
Fruit Snacks Market By Fruit Family
- Mixed (more than 2 fruits)
Fruit Snacks Market By Distribution Channel
- Mainstream stores (Supermarkets, hypermarkets, grocery stores)
- Specialist stores
- Online retailers
- Others (Natural food stores, independent retailers)
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa