NEWARK, Del, Mar. 14, 2023 (GLOBE NEWSWIRE) — The global fruit snack market is forecast to register a booming CAGR of 7.4% during the forecast period 2022 to 2032. The global market was valued at 5.456 million dollars in 2022 to reach a valuation of US$11,120 million by 2032.
According to historical analysis by Future Market Insights, the global fruit snack market experienced a CAGR of 5.5% from 2016 to 2021. The market growth during the current assessment period is attributed to the growing demand for vitamins and essential minerals to boost immunity along with better demand for fiber-enriched products.
Fruit snacks are processed fruit in the form of snacks produced in the food and beverage industry. Examples of fruit snacks are smoothies, fruit chunks, applesauce, fruit salad, popsicles, fruit sandwiches, and many more.
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These food items have a high content of vitamins and minerals. 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; mitigating the risk of cardiovascular disease, hypertension and weight-related diseases such as obesity and diabetes.
The growing awareness of the adverse effects of consuming artificial or synthetic products is a crucial factor triggering the growth of the fruit snack market during the evaluation period. Also, consumers are aware of the quality of foods they consume, so they are ready to spend on natural food products as they are of high quality as compared to artificial food products.
The European market is expected to create profitable growth during the assessment period. Due to the continuous technological advancements in the food and beverage industry and strong innovation and investment in R&D, it is expected to provide lucrative opportunities for the expansion of the fruit snack market.
Growing government initiatives are expected to increase consumer awareness and preferences when it comes to promoting sales of fruit snacks. The growth of the market is stimulated by the growing prevalence of obesity-related epidemics, government organizations have started promoting healthy lifestyle habits and urging people to rethink their food strategies.
The fruits and natural products obtained from plants are edible and rich in nutrients and minerals. They consist of various types such as berries, citrus fruits, apples and pears, melons, tropical and exotic, stone fruits and many more. Additionally, fruit has many health benefits when eaten raw or processed, such as fruit sandwiches and fruit salads. For example, orange is a rich source of vitamin C essential for the repair and development of body tissues.
Increased fruit consumption helps in the maintenance of cartilage and quick healing of wounds. These health benefits are expected to drive the growth of the fruit snack market during the evaluation period. The global fruit snack market is expected to witness tremendous growth during the forecast period.
Despite the large user base of the fruit snack market, there are multiple hurdles that could challenge the growth of the market. The growth of the global fruit snack market will be hampered by growing consumer perceptions of the harmful effects of consuming processed foods.
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Some of the major players present in the global fruit snack market are Welch Foods Inc., General Mills Inc., SunOpta, Kellogg Co., Sunkist Growers, Inc., and Crunchies Food Company, among others.
Due to such a high attendance of industry participants, the global fruit snack market is highly competitive. While global players such as Welch Foods Inc., General Mills Inc., SunOpta and Kellogg Co account for sizeable market sizes, several regional players are also operating in key growth regions, particularly in Asia Pacific.
In March 2022, B&G Foods announced the launch of Cinnamon Toast, a crunchy cinnamon spread. The first opportunity for consumers to spread, swirl and spray the flavor of the beloved cereal onto virtually anything.
Read more about the fruit snack market
The North American region is expected to dominate the global fruit snack market during the evaluation period. The region accounted for a total market share of approximately 33.6% in 2022. Additionally, the market growth in the region is attributed to major product innovations in the snacking industry that offer unique flavors and focus on health amendments.
Growing demand for vitamins and minerals essential for boosting immunity along with better demand for fiber-enriched products will push the fruit snack market to all-time highs in the region.
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Key Segments Outlined in Fruit Snacks Industry Survey
Fruit Snacks Market by Applications:
- Fruit snacks for drinks
- Fruit snacks for dairy products
- Fruit Snacks for Sweet and Savory
- Fruit snacks for other applications
Fruit Snacks market by distribution channel:
- Sale of Fruit Snacks through Supermarkets/Hypermarkets
- Sale of fruit snacks through convenience stores
- Selling fruit snacks via online retail
- Sale of fruit snacks through specialized retailers
- Sale of fruit snacks through other distribution channels
Fruit Snacks Market by Region:
- North America fruit snack market
- Fruit snack market in Latin America
- European fruit snack market
- Asia Pacific fruit snack market
- Fruit snack market in the Middle East and Africa
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Table of contents
1. Executive summary
1.1. Global market prospects
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 context
3.1. Market dynamics
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