Colombia Dried Fruit Market Overview, 2028

Colombia Dried Fruit Market Overview, 2028

Dried fruits are processed fruits in which most of the water is removed from the fruits by a natural procedure of drying in the sun or dehydrators. However, the dried fruit market is gaining ground due to its easy-to-pack snack feature that prevents fruit from spoiling as fast as fresh fruit. In addition, the market is driven by its application in different product lines. Rising consumer awareness over the health benefits offered is helping the industry to boost its demand for dried fruits. Growth in the market is benefited from the increased acceptance of diets rich in prunes, almonds, raisins, figs, and apricots. Dried fruits are estimated to grow in popularity as a nutritionally rich alternative to fresh fruits, especially in countries with cold weather conditions.

According to the research report, “Colombia Dried Food Market Outlook, 2028” published by Bonafide Research, the market is projected to add 0.02 Billion from 2022 to 2028. The resins segment held the largest share. The growth is owing to the extensive presence of phytonutrients, fibers, vitamin C, boron, iron, and calcium that play a significant role in maintaining the overall health of individuals. Regular intake of raisin-soaked water prevents complications like piles and promotes skin health. Also, raisins are deemed to be of utmost significance when it comes to weight gain. In addition to that, the augmenting production of raisins in both high-income and low-income countries has aided the market. Nevertheless, the Apricot and berries along with the grapes segment are estimated to be the fastest-growing. In addition to that, changing taste and preferences of people and the demand for novel flavors in food and beverages have heightened the demand for berries and apricot.

In 2020, Colombia exported around $3.3 million in dried fruits. Colombia's main dried fruit export destinations are Germany (approximately $1.31 million), the Netherlands (approximately $602 thousand), the United States (approximately $278 thousand), the United Kingdom (approximately $210 thousand), and Mexico (approximately $195 thousand). The fastest-growing export markets for dried fruit from Colombia between 2019 and 2020 were the United States (around $182k), Belgium (around $69.4k), and Mexico (around $49.6k). In 2020, Colombia will import around $5.21 million in dried fruits. Colombia primarily imports dried fruits from Chile (approximately $3.27 million), the United States (approximately $824 thousand), Argentina (approximately $809 thousand), Turkey (approximately $109 thousand), and Spain (approximately $52.3 thousand). The fastest-growing import markets for dried fruits from Colombia were Argentina, Spain, and Canada.

Consumer awareness about the negative consequences of added colors and flavors has influenced them to choose healthier eating habits. Clean labels or label-friendly cut through the clutter of too much data and represent valuable information, which gives consumers a sense of control over their well-being. Clean-label items are in high demand because consumers want food without artificial additives or preservatives. Dehydrated fruit manufacturers are optimizing ingredients to provide label-friendly products. Customers are looking at the back of packages more than ever before to check for the ingredients, and are drawn to clean-label a product, which was previously uncommon, resulting in an increase in demand for preserved fruits that require less processing.

The dried fruit ingredients market based on nature can be further segmented into organic and conventional. The conventional segment held the largest share in 2022. The growth is owing to the comprehensive availability of conventionally grown dry fruits and their cheap prices compared to organic options. Moreover, synthetic fertilizers are more pocket-friendly; therefore, they always remain the first choice of farmers as compared to more natural options. Likewise. The dos and don’ts of conventional farming are not as hard as organic farming; also, conventional farming allows you to grow more on limited land. However, organic is estimated to be the fastest-growing segment. With growing health problems, people across the globe are making more demand for organic dried fruit ingredients. In addition to that, organic farming is environmentally friendly, which is another prominent factor driving the organic dried fruit market.

The growing economic prosperity of developing nations, bettering network of world-class highways and expressways aiding the hassle-free transportation of goods and raw materials, soaring number of modern retail outlets such as supermarkets and hypermarkets, rapid urbanization because of overwhelming migration, and improving disposable incomes are the preeminent reason contributing to the growth of the aforementioned market. Supermarkets and hypermarkets held the largest share. Over the past few years, supermarkets and hypermarkets have witnessed significant growth in the nut and dehydrated fruit categories. The retail chains are appealing to health-conscious consumers by expanding their organic and natural product lines. Furthermore, increasing supermarket penetration in developing countries will boost product sales through this distribution channel. Some of the main supermarket chains in Colombia are Almacenes Exito, Carulla, Grupo Exito, Jumbo, Tia, and many more. Convenience stores hold a notable share of the market, especially in developing countries. Several countries have specialized retail stores for the product, for instance, shops on the street and public markets, and specialty stores. Online distribution is anticipated to expand at the fastest CAGR.

Covid-19 Impacts:
During the COVID-19 pandemic, the demand for non-perishable food products, especially freeze-dried food that can last up to 30 years without degrading in quality, including meat products or their alternatives, vegetable, fruits, prepared meals, etc., have witnessed a huge surge in the consumer demand. It is mainly driven by the stockpiling nature of the consumer during the pandemic, caused by an extended lockdown, and in most cases, even the consumers avoided stepping outside in public areas in order to safeguard themselves. Moreover, in order to maintain the immune system during the pandemic, consumers are highly concentrating on adding sufficient protein content to their diet, which results in augmenting the sales of dried food products, dairy products, and others that have more shelf-life together with similar nutrients like that of the fresh products.

Considered in this report
•Geography: Colombia
•Historic year: 2017
•Base year: 2022
•Estimated year: 2023
•Forecast year: 2028

Aspects covered in this report
•Colombia Dried Fruits market with its value and forecast along with its segments
•Various drivers and challenges
•On-going trends and developments
•Top profiled companies
•Strategic recommendation

By Type
•Dried Apricots
•Dried Dates
•Dried Grapes / Raisins
•Dried Figs
•Dried Berries
•Prunes
•Others

By Nature
•Organic Dried Fruits
•Conventional Dried Fruits

By Distribution Channel
•Hypermarkets/Supermarkets
•Specialty Stores
•Convenience Stores
•Online Retail
•Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the dried fruit industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.