Fruit Snack - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Fruit Snack - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Fruit Snack Market size is estimated at USD 16.09 billion in 2024, and is expected to reach USD 23.52 billion by 2029, growing at a CAGR of 7.90% during the forecast period (2024-2029).

The fruit snack market is growing in many regions due to increasing millennials' demand for convenient food options. Health-conscious consumers are looking for healthy snacking options for their kids as well. Due to urbanization and changing lifestyle patterns, meal replacements with healthy snacks are standard in many countries. Fruit snacks like fruit bars, candies, and chips are famous among kids. Furthermore, fruit snacks are made with minimal processing. Therefore, loss of nutrients does not happen during processing. Over the medium term, demand for plant-based products is expected to drive the market.

Additionally, an increase in online sales of fruit snacks is also expected to drive the market. 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. The online retail platform successfully established itself as a convenient marketplace, offering a wide range of fruit snack products, from meal replacement to indulgent options. Thus, online and e-commerce stores have primarily focused on increasing their market share in revenue and popularity among consumers. This, in turn, propelled the demand for these products. Market players are launching new products in different countries and regions to expand their portfolios. For instance, in October 2021, TNF fruit bar was founded in the United Arab Emirates. The fruit bars are air-dried to preserve the fruity flavor and texture and are also low in sugar and high in fiber.

Fruit Snacks Market Trends

Healthy Snacking Trend to Boost Demand

The rise in consumer awareness about healthy food and organic products is driving the growth of the fruit snacks market. Food allergies, excess use of chemicals and preservatives, and overuse of sugar are reasons consumers are shifting towards organic and low-sugar products. The market players are producing products with minimal processing; therefore loss of nutrients from the food is less. Furthermore, fruit snacks are also popular among children, millennials, and baby boomers. Fruit gummies, candies, chips, and dried fruits are typical snacks popular among consumers.

Additionally, the demand for gluten-free, Koshar-certified, and GMO-free food products is increasing. Market players are innovating products according to consumer demand. For instance, in September 2021, Welch's, a PIM brand, launched the "Fruit 'n Yogurt" snacks product mix. The product contains natural fruit cuts with creamy yogurt around them. The product is available in three flavors, i.e., Blueberry-Acai, Mango-Peach, and Strawberry.

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. Marketing campaigns, from the leading manufacturers in the country, are further expected to boost the demand across the country. Furthermore, online and e-commerce sales of products are growing in the region. 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. The market players are focusing on new product innovations and launching new products in the market. For instance, in January 2022, Crisp Green launched a new innovative snack brand Piña Picante. The brand offers pineapple snacks flavored with different spices and chili lime.

Fruit Snacks Industry Overview

The fruit snack market is fragmented and comprises regional and international competitors. The market has the presence of players such as Nims Fruit Crisps Limited, Rind Snacks, Brothers International Food Corporation (Fruit Crisps), PIM Brands (Welch's), and Steele Brands (Crispy Green Inc.). Furthermore, market players are focusing on leveraging opportunities posed by emerging markets to expand their product portfolio, primarily to cater to the requirements of various product segments, especially fruit chips and bars. Mergers and acquisitions between companies are further driving the market.

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