Market Size in 2023 | Market Forecast in 2032 | Growth Rate (in %) | Base Year |
---|---|---|---|
USD 15.07 Billion | USD 29.88 Billion | CAGR at 8.02% | 2023 |
According to the report published by Zion Market Research, the global Fruit Snacks Market size was valued at USD 15.07 Billion in 2023 and is predicted to reach USD 29.88 Billion by the end of 2032. The market is expected to grow with a CAGR of 8.02% during the forecast period. The report analyzes the global Fruit Snacks Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Fruit Snacks Market industry.
Fruit snacks have achieved tremendous popularity in adults as well as kids as it is the best combination of taste and health. They are confectionary snack food with main content as sugar, usually refined sugar that is derived from concentrated apple and grapes juice. Candy-like taste and convenience are the aspects that have supported fruit snacks to gain popularity across the world.
The global fruit snacks market is growing at a speedy rate. Major factors that are fostering the growth of the global market include growing demand from the millennial population, increase in demand for on-the-go healthy snacking products owing to the busy lifestyle of the consumers, and growing purchasing power. Additionally, the increase in demand for non-GMO and gluten-free products is also fostering the growth of the global market. In addition to this, increase in the number of supermarkets, hypermarkets, as well as online retailers, has led to an increase in sales of fruit snacks. Further, an increase in disposable income, rapidly expanding food industry, and presence of essential nutrients in fruits such as fiber, magnesium, potassium & vitamins are augmenting the overall market growth.
Moreover, effective marketing and key business strategies to enhance the sales of the fruit snacks and initiatives for business expansion by the key players are also some of the prime factors that are fostering the growth of the global market. Furthermore, automation in lines and advanced technologies in the food processing industry may lead to numerous opportunities for the growth of the global fruit snacks market over the forecast period. However, high production costs and strict regulatory policies regarding product quality may impede the growth of the global fruit snacks market.
Nationwide lockdown and restrictions on movement imposed by the governments across the world impacted several business sectors and the food industry is one of them. The disruption in the supply chain led to the shortage of raw materials while constraints on the workforce and temporary shutdown of the manufacturing units also affected the overall production of the final products. During the pandemic, consumers preferred buying essential goods which hampered the sales of fruit snacks. All such factors have combinedly hindered the growth of the global market. However, during the post-pandemic era with ease in restrictions and with all the business gaining traction will led to steady growth for the global market.
The global fruit snacks market is fragmented based on fruit family, type, distribution channel and region.
Based on the fruit family, the global fruit snacks market is segregated into mixed, apple, berry, pineapple, banana, and mango. Among these, mixed fruit and apple fruit snacks are predicted to grow at a significant growth rate.
The type segment is split into dairy, beverages, and sweets & savoury. Among these, the sweet & savory segment is expected to show remarkable growth during the forecast period.
The distribution channel segment is online retailers, specialist stores, and mainstream stores. Among the distribution channels, mainstream stores are projected to dominate the global market.
Report Attributes | Report Details |
---|---|
Report Name | Fruit Snacks Market Research Report |
Market Size in 2023 | USD 15.07 Billion |
Market Forecast in 2032 | USD 29.88 Billion |
Growth Rate | CAGR of 8.02% |
Number of Pages | 201 |
Key Companies Covered | Sunkist Growers, Kellogg, Welch’s, General Mills, Nutty Goodness, Flaper, Mount Franklin Foods, Crispy Green, Bare Foods, and Crunchies Natural Food among others. |
Segments Covered | By Fruit family, By Type, By Distribution channel and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Among the regions, North America is estimated to be the leader in the global fruit snacks market over the forecast period. The major factors that are fueling the growth of the market in this region include growing inclination towards convenience & healthy food, increase in demand from kids during snacking time, and presence of well-established distribution channels. The market in Europe is expected to contribute a significant share over the forecast period. Asia Pacific market is anticipated to register a faster growth rate. This is attributed to the growing economies in countries like China & India, the growing popularity of processed food, and growing sales of fruit snacks through online retailers.
The global fruit snacks market is highly competitive and to lead the market, key players are adopting business strategies, mergers & acquisitions, and new product launches. Some of the dominant players operating in the market are:
By Fruit family
By Type
By Distribution channel
FrequentlyAsked Questions
Major factors that are fostering the growth of the global market include growing demand from the millennial population, increase in demand for on-the-go healthy snacking products owing to the busy lifestyle of the consumers, and growing purchasing power. Furthermore, automation in lines and advanced technologies in the food processing industry may lead to numerous opportunities for the growth of the global fruit snacks market over the forecast period.
Some of the dominant players operating in the market are Sunkist Growers, Kellogg, Welch’s, General Mills, Nutty Goodness, Flaper, Mount Franklin Foods, Crispy Green, Bare Foods, and Crunchies Natural Food among others.
Among the regions, North America is estimated to be the leader in the global fruit snacks market over the forecast period. The major factors that are fueling the growth of the market in this region include growing inclination towards convenience & healthy food, increase in demand from kids during snacking time, and presence of well-established distribution channels.
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