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.
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.
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 RD 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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Market Dynamics:
Increasing consumer inclination towards functional, organic and probiotic-based food drinks is providing impetus to the growth of global food and beverage industry. Various studies have come with health benefits associated with “ethnic” and organic food products. These foods improve cardiovascular health, improves arthritis, digestive issues, and other inflammatory conditions. Consumers are gradually focusing on mindful eating and consuming food for health and wellness. Changing eating and dietary patterns of consumers is prompting brand owners and new entrants to introduce healthy foods options. Several clean-label products have been introduced in the market and consumer curiosity for new products is immense
Growing middle class consumers with rising income in developing countries such as India and China will boost food beverage market growth. Moreover, increasing consumer preference for procuring food and beverage items from online platforms due to variety, cost and time-saving will foster market size through 2028.
Competitive Landscape:
The research report offers details about leading companies in the global Fruit Snacks market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Some of the Leading Market Players Are Listed Below:
- Welch\'s,
- Mount Franklin Foods,
- Nutty Goodness, LLC,
- General Mills Inc.,
- SunOpta,
- Chaucer Foods Ltd.,
- Kellogg NA Co.,
- Crispy Green Inc.,
- PepsiCo
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Market Segmentation:
Fruit Snacks Market Segmentation based on Product Types:
- Sweet Savory
- Smoothies
- Cuts and Slices
- Dairy
- Others
Fruit Snacks Market Segmentation based on Fruit Outlook
- Mango
- Banana
- Apple
- Pineapple
- Mixed
- Others
Fruit Snacks Market Segmentation based on Application:
- Supermarkets Hypermarkets
- Convenience Stores
- Online Retailers
- Others
Fruit Snacks Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East Africa)
Key Features of the global Fruit Snacks Market:
- The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
- Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
- Optimum strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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