North America Fruit Snacks Market size to exceed $1.8bn by 2026
Published Date: November 20, 2020 Authors: Kunal Ahuja, Amit Rawat
North America Fruit Snacks Market size is estimated to exceed USD 1.8 Billion by 2026, according to a new research report by Global Market Insights, Inc.
Consumer inclinations towards new snacking options with superior taste and improved nutritional content is driving the fruit snacks industry growth. Availability of essential nutrients including vitamins and fibers in the end-product which reduces the risk of cardiovascular diseases, obesity, and high blood pressure is likely to fuel the industry expansion. Moreover, fruit snacks with high fiber content helps in maintain the bowel health, thus supporting the product adoption across all age groups.
Surge in the organic food & beverage industry along with product offerings in the gluten-free, natural, vegan, and organic category is supporting the industry landscape. Also, rapid adoption of vegan diets and preference for meat-free products is likely to create potential opportunities for the North America fruit snacks market growth in the coming years. In addition, increasing preference for convenience food products due to the hectic lifestyles has surged the sales of ready-to-eat healthy foods, thus supporting the market trends.
Manufacturers have focused on developing products with different tastes along with expanding their distribution network. Increasing industry competitiveness along with production capacity over the long run can is anticipated to augment the product demand. Key fruit snacks manufacturers are concentrating on improving the flavor and texture of end products to strengthen their position in the North America fruit snacks market.
Browse key industry insights spread across 170 pages with 107 market data tables & 31 charts & figures from the report North America Fruit Snacks Market Statistics By Type (Hot Extruded [Extruded Fruit Strips, Fruit Twists, Fruit Straws, Fruit Bits, Fruit Shapes, Fruit Sandwiches], Cold Pressed Bars And Strips), By Fruit Family (Apple, Mango, Banana, Pear, Pineapple, Berry, Mixed, Strawberry, Blueberry, Raspberry, Others), By Distribution Channel (Mainstream Stores, Specialist Stores, Online Retailers, Wholesale Club Stores, Others), Industry Analysis Report, Country Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Hot Extruded Fruit Snacks industry is forecast to cross USD 1.5 Billion by 2026
Hot extruded type dominates the North America fruit snacks market share in 2019. Improved stability and shelf life are among the key factors propelling the hot extruded fruit snacks demand. The segment offers multiple product types such as extruded fruit bits, fruit shapes, fruit strips, fruit straws, fruit twists, and fruit sandwiches. Fruit shapes account for over 35% of the segment share in 2019 and are widely accepted among younger population.
Favorable import norms along with health benefits of mango is driving the fruit type share
Mango based fruit snacks hold over 10% volume share in the overall market in 2019. Ability of the manufacturers to match the original fruit taste along with improved import regulations to maintain product quality is among the key aspects surging the mango fruit snacks demand. Moreover, low-calorie and high fiber content, along with presence of vitamin B6, vitamin E, zinc, and calcium are likely to boost the product penetration. This product offers beneficial health attributes including packed with nutrients, high in antioxidants, boost immunity, support heart health, improve digestive health, support eye health, improve hair and skin health and help lower your risk of certain cancers which accelerate product demand.
Increasing count of specialist stores offering diverse product categories is driving sales through the distribution network
Specialist stores distribution channel will register over CAGR 3.9% in the North America fruit snacks market between 2020 to 2026, owing to an increasing number of customers looking for brand-specific fruit snacks products through these stores. Personalized experience and assistance from representatives are among the key factors that will drive the sales figures through this medium. Adoption of new marketing strategies, better merchandising, coupled with the adoption of the digital platform will foster the market share.
Increasing health consciousness along with increasing product launches is supporting the product demand in Canada
Canada fruit snacks market is anticipated to grow at a significant pace owing to increasing health consciousness among consumers regarding the nutritional benefits of consuming fruit snacks in the country. Beneficial digestive properties of fruit snacks are anticipated to boost the popularity of fruit snacks in the country. Moreover, the trend towards consumption of clean label & private label products supported by stringent food and beverage labeling regulations has triggered the demand for organic, Non-GMO, and vegan products in Canada. Also, increasing lifestyle diseases among the geriatric and young populace in the country have triggered the demand for gluten-free, low calorie and nutritional snacks.
North America fruit snacks market share is moderately fragmented with presence of large multinational corporations along with considerable share distributed among the regional players. The key manufacturers in the market include SunOpta, Kellogg’s, General Mills, Promotion in Motion/Welch's, Mount Franklin Foods, That's it Nutrition, Kind LLC, Crunchies Natural Food, among others. New product development, acquisitions & collaborations, and distribution channel expansion are among the key strategies observed in the industry.
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