Global Dried Fruit Snacks Market - 2023-2030

Global Dried Fruit Snacks Market - 2023-2030

Global Dried Fruit Snacks Market reached US$ 501.2 million in 2022 and is expected to reach US$ 867.6 million by 2030 and is expected to grow with a CAGR of 7.1% during the forecast period 2023-2030.

One of the significant trends in the dried fruit snacks market is the growth of craft dried fruit snacks. Craft breweries focus on small-scale production, using traditional brewing methods and emphasizing quality, flavor, and innovation. Craft dried fruit snacks offers a wide variety of dried fruit snacks styles, including lagers, ales, stouts, pilsners, wheat dried fruit snackss, and India Pale Ales (IPAs). Craft dried fruit snacks's emphasis on unique flavors and local production has resonated with consumers seeking authentic and diverse dried fruit snacks experiences.

The dried fruit snacks market showcases a range of dried fruit snacks styles, each with its characteristics. Lager is a type of dried fruit snacks that undergoes a cold fermentation process, resulting in a clean, crisp, and refreshing taste. Ales, on the other hand, are fermented at warmer temperatures and offer a broader range of flavors, including fruity, malty, and hoppy profiles. Stout is a dark, rich, and robust dried fruit snacks known for its chocolate, coffee, and roasted malt flavors. Pilsner is a pale lager with a light and crisp taste, often associated with Czech or German brewing traditions. Wheat dried fruit snacks is brewed with a significant proportion of wheat, resulting in a light, fruity, and often cloudy dried fruit snacks. India Pale Ale (IPA) is a hop-forward dried fruit snacks style known for its strong hop bitterness and aromatic characteristics.

Market Dynamics
Rise in Consumer Westernization and Increasing Disposable Income is Expected to Foster the Dried Fruit Snacks Industry

Consumers' per capita disposable incomes have increased as a result of the improving economic conditions and rising GDP (Gross Domestic Product) in developing countries like the Asia Pacific and South America. Consumers' increasing disposable incomes have a significant role in the industry's overall expansion.

Leading Japanese beverage producer Kirin Holdings Co. reports that robust demand in Asia and Africa, as well as those regions' economic expansion, contributed to a second consecutive year of growth in worldwide dried fruit snacks consumption in 2021. Due to the easing of the effects of COVID-19's spread, total global dried fruit snacks consumption in 2021 grew by about 7.13 million kiloliters from the previous year to around 185.6 million kiloliters.

Craft Dried Fruit Snacks with Little or No Alcohol Content are Becoming More and More Popular Among Health-Conscious Consumers

The craft dried fruit snacks market has experienced significant growth in recent years. Craft breweries have gained popularity worldwide, and consumers are increasingly interested in unique, handcrafted dried fruit snackss with distinct flavors and styles. For instance, according to IWSR reports, the market share of premium or “super-premium” alcoholic drinks will grow to 13% by 2024. This growth indicates a favorable market environment for craft and specialty dried fruit snackss.

Craft and specialty dried fruit snackss often command a higher price point compared to mass-produced alternatives. The focus on quality ingredients, traditional brewing techniques, and unique flavor profiles contributes to the premiumization of these products. This premium positioning can lead to higher profit margins for producers, offering a favorable opportunity for growth and profitability.

Brewing Industry Growth Impeded by Regional Prohibitions on Dried Fruit Snacks Marketing and Advertising

The marketing and advertising of alcoholic beverages to promote and reinforce customers' healthy lifestyles have unquestionably been a restraint on the global alcohol business. In most of the world's largest markets, including India, China, the U.K., and others, the government has outlawed dried fruit snacks advertising.

In the coming years, the market's expansion will be hampered by the limited provincial laws governing its marketing. To advertise alcoholic beverages and other illegal products under the guise of another product on the market, manufacturers are employing surrogate advertising to promote their products.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

COVID-19 War Impact
The pandemic brought about economic uncertainties, job losses, and changes in consumer behavior, which, in turn, impacted overall dried fruit snacks consumption. With reduced social gatherings, canceled events, and limitations on leisure activities, some consumers opted to cut back on discretionary spending, including alcoholic beverages like dried fruit snacks. The pandemic caused disruptions in global supply chains, affecting the availability and distribution of dried fruit snacks. Restrictions on transportation and lockdown measures led to challenges in sourcing raw materials, production delays, and logistics difficulties. These disruptions could impact the overall production and availability of dried fruit snacks in certain regions.

Segment Analysis
The global dried fruit snacks market is segmented based on category, packaging, distribution channel, and region.

By Packaging, the Glass Bottles Segment is Estimated to have Significant Growth During the Forecast Period

Glass bottles have long been a traditional and widely used packaging format for dried fruit snacks. They offer several advantages, including product visibility, brand image, and the ability to preserve dried fruit snacks quality by protecting it from light and oxygen. The long-standing use of glass bottles has contributed to their significant market share in the dried fruit snacks industry.

Glass bottles are recyclable and are often perceived as a more sustainable packaging option compared to other materials, such as plastic. The increasing focus on environmental sustainability has driven consumer preference for packaging options that align with their eco-conscious values, further supporting the market share of glass bottles.

Geographical Analysis
Asia Pacific is the Fastest Growing Market in the Dried Fruit Snacks Market

The Asia Pacific region has a large and rapidly growing population, with several emerging economies experiencing significant economic growth. This combination of population size and economic development has contributed to the region's potential as a fast-growing market for various industries, including the dried fruit snacks market. According to Statista, in the alcoholic drinks market, volume is expected to amount to 105,800.00 million liters by 2027. The market for alcoholic drinks market is expected to show a volume growth of 1.6% in 2024.

Dried fruit snacks have a cultural significance in certain Asian countries, such as Japan and South Korea, where traditional malt-based drinks like ""mugi-cha"" and ""boricha"" are consumed. The presence of these traditional dried fruit snackss, along with the growing popularity of Western-style dried fruit snackss, contributes to the market's growth in the region.

Competitive Landscape
The major global players in the market include AB InBev, SABMiller, Heineken, Carlsberg Group, CR Dried Fruit Snacks, Boston Dried Fruit Snacks, Tsingtao Brewery, Modelo, Molson Coors, and Diageo.

Why Purchase the Report?
• To visualize the global dried fruit snacks market segmentation based on fruit type, nature, form, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of dried fruit snacks market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.
The global Dried Fruit Snacks market report would provide approximately 69 tables, 67 figures and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies