Global Fruit Snacks Market - 2023-2030

Global Fruit Snacks Market - 2023-2030

The Global Fruit Snacks Market US$ 14.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 24.4 billion by 2030. The market is growing at a CAGR of 7.1% during the forecast period 2023-2030.

The growing interest in plant-based diets and vegan lifestyles has influenced the fruit snack market. Consumers are looking for plant-based alternatives to traditional snacks, and fruit snacks fit this requirement well. Plant-based and vegan fruit snacks, made without animal-derived ingredients, are gaining traction among health-conscious consumers and those following specific dietary preferences.

Fruit snack manufacturers are continually introducing new and unique flavors to cater to diverse consumer preferences. These include exotic fruit flavors, novel combinations, and seasonal variations. Additionally, innovative formats such as fruit strips, bites, squeezable pouches, and dried fruit clusters are being introduced to offer consumers different snacking experiences.

Market Dynamics
The Increasing Popularity of Snacking is Driving the Fruit Snacks Market Growth

With busy lifestyles and on-the-go consumption becoming more common, consumers are seeking snacks that are easy to carry and consume. According to the 2022 Food and Health Survey by International Food Information Council, nearly three in four Americans (73%) say they snack at least once per day, a significant increase from the 58% who claimed the same in 2021. Fruit snacks, such as dried fruits, fruit bars, or fruit pouches, provide a convenient and portable option for snacking.

There is a growing emphasis on healthier eating habits, and consumers are actively seeking nutritious alternatives to traditional snacks that are often high in calories, fat, and sugar. Fruit snacks are perceived as a healthier option since they are made from real fruits and often contain fewer additives and preservatives compared to other snacks. They offer a natural source of vitamins, minerals, and fiber, appealing to health-conscious consumers.

Prevalent Health and Wellness Trend is Driving the Fruit Snacks Market Growth

Traditional snack options like chips, cookies, and candy are often associated with high calories, unhealthy fats, and added sugars which can contribute to obesity. Global Heart Federation, almost 2.3 billion children, and adults are living with overweight and obesity. As people strive to adopt healthier lifestyles, they are looking for snack alternatives that fit into their dietary goals. Fruit snacks offer a solution by providing a healthier option that satisfies snacking cravings without compromising on nutrition. They are seen as a way to incorporate fruits into daily diets conveniently.

Fruit snacks are often perceived as a wholesome and natural option due to their ingredients. They are made from real fruits, and many variants retain the natural taste, color, and texture of the fruits. This natural appeal resonates with health-conscious consumers who prefer minimally processed and whole food options. The inherent nutritional benefits of fruits, including vitamins, minerals, and dietary fiber, contribute to the perception of fruit snacks as a healthy choice.

Regulatory Constraints Can Hamper the Fruit Snacks Market Growth
Adhering to regulatory requirements can be expensive for fruit snack manufacturers. They need to invest in equipment, facilities, and processes to meet safety and quality standards set by regulatory authorities. These costs can be a barrier for small or new players entering the market, as they may struggle to meet the financial burden associated with regulatory compliance.

Fruit snacks, like any other food product, must comply with stringent food safety regulations to ensure consumer safety. Compliance with these regulations requires adherence to hygienic manufacturing practices, regular inspections, and testing procedures. Manufacturers need to invest in quality control systems, traceability mechanisms, and risk management protocols to meet these requirements. Failure to meet food safety standards can result in product recalls, legal actions, or damage to brand reputation, hampering market growth.

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).

Segment Analysis
The global fruit snacks market is segmented based on product type, fruit type, distribution channel, and region.

Nutritional Profile of Mixed Fruit Drives the Segment Growth
Depending upon fruit type, the fruit snacks market is divided into apple, mango, strawberry, grape, banana, mixed fruit, and others
In 2022, mixed fruit have the highest share in the fruit snack market. Mixed fruit snacks are convenient for consumers who may not have access to fresh whole fruits or prefer the convenience of pre-packaged snacks. These snacks eliminate the need for consumers to purchase and mix individual fruits themselves, saving time and effort. Mixed fruit snacks are often available in portion-controlled packs, making them suitable for on-the-go consumption.

Mixed fruit snacks offer a combination of various fruits, providing a wider range of essential nutrients, vitamins, minerals, and dietary fiber compared to single-fruit snacks. For instance, 1 pouch (26 grams) of mixed fruit snacks has 100% of the recommended daily intake of vitamin C and 25% of the daily value of vitamin A. Consumers perceive mixed fruit snacks as a way to incorporate a variety of fruits into their diets, ensuring they receive a broader spectrum of nutritional benefits.

Geographical Analysis
Cultural Preferences for Fruits in the Asia-Pacific Region
Many countries in the Asia Pacific region have a cultural affinity for fruits and value their nutritional benefits. According to a recently released report from the China Chamber of Commerce for Import and Export of Foodstuffs, China imported fruit worth $14.6 billion or 7.33 million metric tonnes in 2022, reflecting 4% and 8% year-over-year (YOY) growth, respectively. Fruits are often consumed as a regular part of meals or as snacks. This cultural preference for fruits translates into a natural inclination towards fruit-based snacks, further driving the demand for fruit snacks in the region.

The growing focus on health and wellness is not limited to Western markets but is also gaining traction in the Asia Pacific region. Consumers are increasingly becoming conscious of their dietary choices and seeking healthier alternatives to traditional snacks. Fruit snacks, with their perception as a natural and nutritious option, align with the health and wellness trends in the region.

Competitive Landscape
The major global players include Welch Foods Inc., Annie’s Homegrown, Ferrara Candy Company, Mott’s LLP, Mount Franklin Foods, Kind Company, SunOpta, Chaucer Foods Ltd., Kellogg NA Co., and Crispy Green Inc.

Why Purchase the Report?
• To visualize the global fruit snacks market segmentation based on product type, fruit type, and distribution channel understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of fruit snacks market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The Global Fruit Snacks Market Report Would Provide Approximately 61 Tables, 63 Figures, And 102 Pages.

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