The global fruit snacks market is set to reach a value of $9 Bn by the end of 2027, as projected by a new study of Fact.MR. Leading manufacturers of fruit snacks are prioritizing product innovations and nutrient compositions to gain traction among the health-conscious consumer clusters.
“Fruit snacks are gaining traction, with a majority of demand from consumers driving production upsurge in breakfast foods and health beverage sectors,” says the Fact.MR report.
Beverages comprise more than 30% of the overall market value, owing to heightening sales of functional beverages. Mainstream modern retail stores such as supermarkets and hypermarkets remain key sales avenues for fruit snacks manufacturers.
E-commerce operators are pushing for active food catalogs, thereby providing a wider range of fruit snacking options, attributing to benefit of having a non-physical shelf space. Evolving millennial consumer preferences continue to drive markets across the economies in Asia Pacific, further supported by concerns over artificial ingredients and sugar.
Key Driving Factors
Health benefits associated with consumption of fruits and derived snacks are a key driver bolstering fruit snack sales. Cold chain networking and stronger distribution channel management are pushing market growth in developed regions. Manufacturers’ efforts towards creativity, consistency, and innovative marketing strategies would add value to market growth.
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Key Market Restraints
Consumer concerns about potential adverse effects of consuming processed foods continue to create skepticism, impacting sales. High competition from other innovative snack options remains a strong factor limiting broader adoption of fruit snacks in global market.
The global fruit snacks market is largely fragmented. Industry leaders are focusing their efforts on strategic collaborations, acquisitions, and mergers. Manufacturers are also working on flavor and texture improvements, along with pricing evaluations for their offerings to keep up with the competition. The report has also profiled key players in the global fruit snacks market, including but not limited to The Ferrero Group, General Mills Inc., SunOpta, and Welch Foods.
About the Report
This 200+ pages study provides in-depth forecast data on the fruit snacks market. The key categories encompassed by the report include nature (organic and conventional), product type (sweets and savories, freeze dried, extruded strips, dairy products, beverages, and others), distribution channels (modern trade, specialty stores, convenience stores, online stores, departmental stores, pharmacies, and travel retails) and 25+ countries in key regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).