Fruit Snacks Market Size, Share & Trends Analysis Report By Product (Sweet & Savory, Smoothies, Dairy, Cuts & Slices), By Fruit (Mixed, Apple), By Distribution Channel, By Region, And Segment Forecasts, 2020 - 2027

Fruit Snacks Market Size, Share & Trends Analysis Report By Product (Sweet & Savory, Smoothies, Dairy, Cuts & Slices), By Fruit (Mixed, Apple), By Distribution Channel, By Region, And Segment Forecasts, 2020 - 2027

The global fruit snacks market size is expected to reach USD 9.93 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.2% from 2020 to 2027. The rising health consciousness among the millennials is a key factor driving the market. Furthermore, parents are opting for these healthy snack items for their children. These foods provide a wide range of vitamins and are generally low in fat. With the growing concerns about sugar content among the consumers, manufacturers have been introducing free from sugar additives or low in sugar products. In addition, the attractive packaging, along with the colorful appearance of the products, appeals to young consumers.

The sweet and savory product segment dominated the market with more than 45.0% share of the global revenue in 2019. This segment comprises an extensive range of products, including chips, gummies, and trail mixes. In May 2020, Perfetti Van Melle announced the launch of soft gummies under its Fruit-Tella brand in the U.S. These products have fruit puree as a key ingredient and they contain pectin in place of gelatin. These gummies are available in Peach and Mango and Strawberry and Raspberry flavors, shaped in playful variants.

The apple-based fruit snacks segment is projected to witness the fastest growth over the forecast period owing to its health benefits. In August 2019, Chiquita Brands International launched Chiquita Bites and Chiquita Sticks made with apple. Apple products offer vitamin C, fiber, and protein. Thus, these products are expected to gain traction as a healthy snacking food item in the upcoming years with the growing health concerns and demand for convenience foods

Fruit Snacks Market Report Highlights

• Asia Pacific is expected to register the fastest CAGR of 10.3% from 2020 to 2027 owing to the rising health concerns and purchasing power of the consumers at the regional level
• The sweet and savory product segment dominated the market by accounting for over 45.0% share of the global revenue in 2019. The strong popularity of such products as snacking options among students and millennials at the global level is expected to remain a favorable factor for the segment growth in the near future
• By distribution channel, online retailers are expected to expand at the fastest CAGR of 10.9% from 2020 to 2027 due to the increasing adoption of e-commerce across the globe.