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The
global Fruit Snacks
Market is
expected to be valued at USD 10.87 Billion in 2028 from USD 5.38 Billion in
2020, registering a CAGR of 9.5% through the forecast period. The market is poised
to observe a significant growth in the forecast timeframe owing to the
escalating requirement of nutritional and healthy snacks and the growing
population of health-conscious consumers. The increasing trend of on-the-go,
ready-to-eat, and convenience foods is projected to add traction to the market
growth.
However,
there is a lot of controversy surrounding the nutritional content or value of
the sugar in fruit snacks. The implementation of a strict regulatory framework
by the government that restrains the manufacturers from labeling the
sugar-containing fruit snacks as nutritional or healthy can impede the market
growth in the projected timeframe. Other limiting factors such as preservation
and shelf-life of the products can also restrict the expansion of the market
over the projected timeframe.
Fruits
snacks are highly popular among the younger generation and children owing to
the easy-to-eat attribute with taste closely resembling candies. The products
are often packed in sustainable plastic packaging that does not require
refrigeration or storage. The growing expansion of the R&D activities by
the key manufacturers to introduce gluten-free and sugar-free fruit snacks to
cater to a larger health-conscious population is contributing to the market
expansion. The growing levels of disposable income, increasing purchasing power
of the consumers, and the growing trend of fruit snacks are further fueling the
market growth.
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Market
Dynamics:
Increasing consumer inclination towards functional, organic
and probiotic-based food & drinks is providing impetus to the growth of
global food and beverage industry. Various studies have come with health
benefits associated with “ethnic” and organic food products. These foods
improve cardiovascular health, improves arthritis, digestive issues, and other
inflammatory conditions. Consumers are gradually focusing on mindful eating and
consuming food for health and wellness. Changing eating and dietary patterns of
consumers is prompting brand owners and new entrants to introduce healthy foods
options. Several clean-label products have been introduced in the market and
consumer curiosity for new products is immense
Growing
middle class consumers with rising income in developing countries such as India
and China will boost food & beverage market growth. Moreover, increasing
consumer preference for procuring food and beverage items from online platforms
due to variety, cost and time-saving will foster market size through 2028.
Competitive
Landscape:
The research
report offers details about leading companies in the global Fruit Snacks market
along with global position, financial standing, license agreement, products and
services portfolio and revenue contribution of each market player. Key players
in the market are focusing on adopting various strategies such as mergers and
acquisition, business expansion plans, new product launches, partnerships,
collaborations, joint ventures to enhance their product base and gain robust
footing in the market.
Some of the Leading Market Players Are Listed Below:
· Welch\'s,
· Mount
Franklin Foods,
· Nutty
Goodness, LLC,
· General
Mills Inc.,
· SunOpta,
· Chaucer
Foods Ltd.,
· Kellogg
NA Co.,
· Crispy
Green Inc.,
· PepsiCo
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Market Segmentation:
Fruit Snacks Market Segmentation based on Product Types:
- Sweet &
Savory
- Smoothies
- Cuts and
Slices
- Dairy
- Others
Fruit Snacks Market Segmentation based on Fruit Outlook
- Mango
- Banana
- Apple
- Pineapple
- Mixed
- Others
Fruit Snacks Market Segmentation based on Application:
- Supermarkets
& Hypermarkets
- Convenience
Stores
- Online
Retailers
- Others
Fruit Snacks Market Segmentation based on Regions:
·
North
America (U.S., Canada, Mexico)
·
Europe
(Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
·
Asia
Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
·
Latin
America (Brazil, Rest of Latin America)
·
Middle
East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
Key
Features of the global Fruit Snacks Market:
·
The
report offers detailed estimations at the regional level with manufacturers,
consumption, sales and import/export dynamics.
·
The
report provides accurate details related of the manufacturers/vendors in the
market, company overview, pricing analysis, financial standing, product
portfolio, and gross profit of leading companies.
·
Company
profiling with prevalent expansion strategies, revenue generation, and recent
developments.
·
Optimum
strategic initiatives for new players in the market.
·
Manufacturing
processes, suppliers, cost, rates of production and consumption, transport mode
and cost structuring, and value chain analysis.
·
The
study also includes supply chain trends, including elaborate descriptions of
the latest technological development
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