Fruit Snacks Market Size To Reach USD 10.87 Billion By 2028 With CAGR 9.5% | Reports And Data
October 13, 2021
Reports And Data
Fruit Snacks Market Size - USD 5.38 Billion in 2020, Growth – CAGR of 9.5%, Market Trends – Increasing health consciousness among consumers across the globeNEW YORK CITY, NY, UNITED STATES, October 13, 2021 /EINPresswire.com/ -- 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.
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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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.
Prominent players of the market include Nutty Goodness, Welch's, Mount Franklin Foods, LLC, SunOpta, PepsiCo, General Mills Inc., Chaucer Foods Ltd., Kellogg NA Co., and Crispy Green Inc., among others.
For the purpose of this report, Reports and Data has segmented the global Fruit Snacks Market on the basis of product type, fruit, distribution channel, and region:
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
Regional Outlook (Revenue, USD Billion; 2018-2028)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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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.
• In January 2021, cereal behemoth Kellogg’s announced its first-of-its-kind plant-based snack range for kids made by kids. The product line, W.K. Kellogg by Kids, features two bars made from fruit and vegetables and are available in two flavors namely orange & carrot and raspberry, strawberry, and beetroot.
• In February 2021, Welch’s expanded its Welch's® Fruit Snacks product line with the addition of “Welch's® Juicefuls® Fruit Snacks”, available in three flavors, Island Splash, Berry Blasts, and Mixed Fruit, and various packaging sizes to cater to a wide range of consumers.
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Table of content:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
Chapter 3. Fruit Snacks Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Fruit Snacks Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2021 & 2028
5.2. Sweet & Savory
5.2.1. Market estimates and forecast, 2018 - 2028 (USD Billion)
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