[290 Pages Report] Global fruit snacks market demand is anticipated to be valued at USD 5,456 Million in 2022, forecast a CAGR of 7.4% to be valued at USD 11,120 Million from 2022 to 2032. Growth is attributed to the increasing demand for essential vitamins and minerals to boost immunity along with improved demand for fiber-enriched products. From 2016 to 2021 a CAGR of 5.5% was registered for the fruit snacks market.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2016 to 2021) | 5.5% CAGR |
| Projected Growth Rate (2022 to 2032) | 7.4% CAGR |
| Expected Market Value (2022) | USD 5,456 Million |
| Anticipated Forecast Value (2032) | USD 11,120 Million |
Fruit snacks are processed fruits in the form of snacks produced in the food and beverage industry. Examples of fruit snacks are smoothies, fruit chunks, applesauce dip, fruit salad, popsicles, fruit sandwiches, and many others.
These food products are rich in vitamins and minerals, such as potassium, magnesium, vitamin A and more, and healthy for human consumption. Some of the health benefits attributed to fruit snacks are; mitigation of the risk of cardiovascular diseases, high blood pressure, and weight diseases like obesity and diabetes.
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Growing Demand for Healthy foods to boost the Growth of the Fruit Snacks Market
Fruits are natural products obtained from plants which are edible for consumption. They come in various types such as berries, citrus, apples and pears, melons, tropical and exotic, stone fruits, and many more. Fruits have many health benefits when consumed either in the raw or processed form, e.g., fruit sandwiches and fruit salad. For instance, orange is a rich source of vitamin C essential for the repair and development of body tissues
It also helps in the maintenance of cartilages and the healing of wounds. Health benefits like these are what is driving consumers toward the consumption of fruit snacks and this will create a surge in demand for these food products in the global market. The global fruit snack market is expected to witness a tremendous growth over the forecast period due to this.
The growing awareness of the adverse effect of consuming artificial or synthetic products is another major factor triggering the growth of the fruits snack market. Consumers are conscious of the quality of food items they consume, so they are ready to spend on natural food products since they are of high quality compared to artificial food products.
Although the fruit snacks market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. The growth of the global fruit snacks market is going to be hampered by the rising consumers’ perception regarding the harmful effect of consuming processed food items.
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North America dominated the global fruit snacks market in 2022. North America accounts for a market share of 33.6% in the global fruit snacks market. The growth of the market in the region is attributed to increased product innovations across the snacking industry offering exclusive taste and focused on health amendments. The rising demand for essential vitamins and minerals to boost immunity along with improved demand for fiber-enriched products will propel the fruit snacks market to greater heights in the region.
In addition, leading manufacturers that are delivering product development coupled with technological intervention, cold chain networking, and well-established distribution channel management in countries such as Canada and the United States are establishing their foothold in these regions.
For instance – in June 2022 General Mills and ALUS announced a multi-year partnership to support farmers and accelerate regenerative agriculture in Manitoba and Saskatchewan, Canada – key regions where General Mills sources oats for brands like Cascadian Farm, Cheerios, and Nature Valley. Also, increasing awareness about nutritional content and key players' R&D spending will fuel the global fruit snacks Market.
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the fruit snacks market, due to the growing food and beverage industry in the region. Europe’s fruits and snacks market accounts for 40.2% share of the total global market.
The presence of a well-established food & beverages industry, coupled with the increasing adoption of a healthy lifestyle by consumers within the country is expected to propel the growth in the market.
The growth of the market in Europe is attributed to continuous technological advancements in the food and beverage industry and strong innovations and investments in R&D are expected to provide lucrative opportunities for fruit snacks market expansion.
Increasing government initiatives are adding to consumer awareness and preferences when it comes to fostering sales of fruit snacks. Spurred by the increasing prevalence of epidemics related to obesity, government organizations have begun promoting healthy living habits and urging people to rethink their dietary strategies.
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The fruit snack market in the Asia Pacific is projected to expand at a rapid pace during the forecast period. Changing customer tastes & preferences, ease of availability of exotic fruits, and increased production underpinned by favorable trade policies would lead to the expansion of the market in the Asia Pacific
Emerging economies such as China, India, and Japan are expected to facilitate the growth of the global fruit snacks market due to the rising disposable income of consumers in these countries. The per capita consumption of fruit snacks is growing tremendously in the Asia Pacific since the population within the region is high.
In addition, the rise in awareness regarding the health benefits associated with fruits is slated to facilitate the growth of the market in Asia Pacific. Consumers’ rising demand for convenience food items due to busy lifestyles and the inability to cook is a strong force promoting the industry's growth in the region.
New entrants in the fruit snacks market are continually indulging in several collaborations and highly investing in research and development activities to provide more convenient solutions to industry verticals. Some of the major start-ups that are leading the development of the market are Suyog Foods, Mandar Food Products, Future Tech Food India Pvt. Ltd., Candor Foods, Peaceful Fruits and Woodstock Farms.
Some of the key participants present in the global fruit snacks market include
Welch Foods Inc., General Mills Inc., SunOpta, Kellogg Co., Sunkist Growers, Inc., and Crunchies Food Company among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Welch Foods Inc., General Mills Inc., SunOpta, and Kellogg Co account for considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 7.4% from 2022 to 2032 |
| Expected Market Value (2022) | USD 5,456 Million |
| Anticipated Forecast Value (2032) | USD 11,120 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Application, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Welch Foods Inc.; General Mills Inc.; SunOpta; Kellogg Co.; Sunkist Growers, Inc.; Crunchies Food Company; Seneca Foods; Nutty Goodness LLC; Mount Franklin Foods LLC; Ferrero |
| Customization | Available Upon Request |
FMI projects the global fruit snacks market to expand at a 7.4% value CAGR by 2032
North America is expected to be the most opportunistic with a 33.6% share of the total fruit snacks market
Welch Foods Inc., General Mills Inc., SunOpta, and Kellogg Co are some prominent fruit snacks, market manufacturers.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2016-2021 and Forecast, 2022-2032 5. Global Market Analysis 2016-2021 and Forecast 2022-2032, By Application 5.1. Beverages 5.2. Dairy 5.3. Sweet and Savory 5.4. Others 6. Global Market Analysis 2016-2021 and Forecast 2022-2032, By Distribution Channel 6.1. Supermarket/Hypermarkets 6.2. Convenience Stores 6.3. Online Retailing 6.4. Specialist Retailers 6.5. Others 7. Global Market Analysis 2016-2021 and Forecast 2022-2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2016-2021 and Forecast 2022-2032, By Country 9. Latin America Market Analysis 2016-2021 and Forecast 2022-2032, By Country 10. Europe Market Analysis 2016-2021 and Forecast 2022-2032, By Country 11. Asia Pacific Market Analysis 2016-2021 and Forecast 2022-2032, By Country 12. MEA Market Analysis 2016-2021 and Forecast 2022-2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Welch Foods Inc. 15.2. General Mills Inc. 15.3. SunOpta 15.4. Kellogg Co 15.5. Sunkist Growers, Inc. 15.6. Crunchies Food Company 15.7. Seneca Foods 15.8. Nutty Goodness, LLC 15.9. Mount Franklin Foods, LLC 15.10. Ferrero 16. Assumptions & Acronyms Used 17. Research Methodology
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Fruit Snacks Market
