Fruit Snacks Market Revenue, Trends, Market Share Analysis, and Forecast to 2028
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.
Fruit snacks are sweet confectionary snack items with sugar being the main constituent. The sugar is generally refined sugar extracted from the concentrated white grape or apple juices.
Fruit snacks have gained immense popularity owing to their consumption convenience, similarity to candies in taste, and a marketing strategy that promotes the product as healthier snacks. Many products are packed in plastic packaging that does not necessitate refrigeration, can be easily disposed and can be carried anywhere. Fruit snacks also differ in the amount of fruit content, for instance, Welch’s products contain fruit purees while others have trace amounts of juices with sugar. However, there is a lot of controversy surrounding the nutritional value or content of fruit snacks. The increasing implementation of stringent regulatory frameworks by the governments can impede the market growth.
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Some of the key players operating in the Fruit Snacks market are:
- Mount Franklin Foods
- Nutty Goodness LLC
- General Mills Inc.
- Chaucer Foods Ltd.
- Kellogg NA Co.
- Crispy Green Inc.
Key Highlights from the Report:
- The sweet and savory segment is forecast to register a significant growth rate in the estimated timeframe owing to the growing inclination towards processed and convenient foods, increasing trend of snacking among kids, and introduction of attractive products such as gummy bears.
- Based on the fruit type, the mixed fruit segment is projected to occupy a sizeable share of the market attributable to their extensive usage in puddings, jams, smoothies, and juices. The growing demand for flavored food products is further fueling the segment’s growth.
- The increasing availability of a large variety of products on the shelves of the supermarket and the incorporation of technologically advanced equipment in the supermarkets and hypermarkets is projected to bolster the growth of the supermarkets and hypermarket segment over the estimated timeframe.
- Asia Pacific is projected to record a significantly high CAGR of 10.6% through the estimated timeframe accrediting to the rapid expansion of the industry in the region owing to the soaring levels of expendable income, escalating health-conscious populace, and the augmenting apprehension about the advantages of fruit snacks among the consumers.
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Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Sweet & Savory
- Cuts and Slices
Fruit Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retailers
According to the regional analysis, the market is segmented into the key geographical regions which include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the production and consumption ratio, market size and market share, import and export, supply and demand ratio, consumer demand, technological advancements, R&D, infrastructure development, economic growth, and robust presence of market players in each region.
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Addressed in the Report:
- What is the expected revenue growth rate the global Fruit Snacks market is expected to register during the forecast period?
- What are the key growth driving factors of Fruit Snacks market?
- Who are the leading players in the market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
- Which region is expected to account for the largest market share in the global Fruit Snacks market over the forecast period?
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