Fruit Snack Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Fruit Snack Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global fruit snack market is projected to grow with a CAGR of 8.17% during the forecast period (2020 - 2025).

Key Highlights

• The fruit snack market is estimated to witness substantial growth, owing to an increase in the demand for refreshments that are rich in nutritional content, along with the rising consumer awareness, primarily related to the consumption of healthy food.
• Rising consumer preference for processed foods that are rich in nutritional content, as compared to other regular processed food, is expected to aid the fruit snack market's growth. The COVID-19 pandemic further propelled online sales of fruit snacks as consumers tend to avoid going to supermarkets as a precautionary measure.
• Among all the segments of the fruit snack market, the supermarkets/hypermarkets segment is expected to emerge as the most dominant distribution channel, followed by other segments, over the forecast period. However, the online distribution channel of the fruit snack market is estimated to witness noticeable growth during the forecast period.

Key Market TrendsOnline Retailing is Projected to Boost the Market

The online retail platform successfully established itself as a convenient marketplace, offering a wide range of fruit snack products, ranging from meal replacement to indulgent options. The primary reason for the increase in sales through internet retailing is the level of convenience it provides to consumers, as they find it easy to choose their preferred brands among a wide range of flavors and product choices. Thus, the online and e-commerce stores have been primarily focusing on increasing their market share, in terms of revenue and popularity among consumers. The online vendors are focusing on improving purchase processes, in terms of security and reliability, primarily due to the growth opportunity for the sales of various healthy snacks, including fruit snacks. This, in turn, propelled the demand for these products.

North America Holds the Largest Market Share

Consumer demand for convenient and healthy on-the-go snack options has, by far, been the primary attribute for sales of fruit snacks in the country. The majority of these consumers opt for fruit snacks as meal replacements. Furthermore, hectic lifestyles, coupled with health and wellness concerns, are driving these changes in the eating patterns of the country’s consumers. Likewise, the Canadian fruit snack market continued to record stable growth, due to an increasingly ageing population, and rising health consciousness among the young generation. Marketing campaigns, from the leading manufacturers in the country, are further expected to boost the demand across the country.

Competitive Landscape

The global fruit snack market is fragmented and comprises of regional and international competitors. The market has the presence of players such as Hero AG, Pioneer Foods, Brothers International Food Corporation, Sensible Foods, and Whitworths, and Nims Fruit Crisps Limited. Furthermore, market players are focusing on leveraging opportunities posed by the emerging markets, in order to expand their product portfolio, primarily to cater to the requirements of various product segments, especially fruit chips and bars.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Brothers International Food Corporation
Crispy Green Inc.
The Isofrut Company Inc.
Sensible Foods
Peeled Snacks
The Hershey Company
Burton and Bamber Company Ltd
Little Duck Organics

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