Dried Fruit Market Research Report by Key Players Strategy | Ocean Spray Cranberries, Sunbeam foods Pty ltd, Olam International and Arimex Ltd | Upcoming Trend by Forecast to 2023

Market Overview:

Dried fruits are dehydrated fruits in which the excess water has been removed either by natural process of sun drying or with the help of dehydrators. Market Research Future (MRFR) has published a report stating that the global dried fruit market is forecasted to expand at a steady growth rate during the assessment period of 2017-2023.

Market Drivers and Restraints:

High consumption of dried fruits through various food products is majorly propelling the expansion of the global dried fruit market. Dried fruits are rich source of fibers and other nutrients that are essential in the daily diet. Hence, increased awareness regarding the health benefits of dried fruits and rise in health-conscious population coupled with increased disposable income are also fueling the growth of the global dried fruit market. Longer shelf life of dried fruits as compared to fresh fruits is also driving the growth of the global dried fruit market. However, allergic reactions associated with few dried fruits are likely to restrain the growth of the global dried fruit market during the forecast period.

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Key Players Review:

The major players profiled by MRFR that are operating in the global dried fruit market are Ocean Spray Cranberries, Inc. (the U.S.), Sunbeam foods Pty Ltd (Australia), Olam International (Singapore), Arimex Ltd (Lithuania), National Raisin Company (the U.S.), Sun-Maid (the U.S.), and SUNSWEET (the U.S.). The players in the global dried fruit market are aiming towards business expansion with increasing investments and planning strategic mergers and acquisitions in the global dried fruit market. For instance,  in November 2018, Berries of Karelia, Russia's largest consumer co-operative has announced that it is planning to expand its business and become a leading producer of dried and freeze-dried fruits and berries in the city of Kostomuksha (Karelia Republic).

Market Segmentation:

The global dried fruit market has been segmented on the basis of type, application and channel. Based on type, the global dried fruit market has been segmented into dried grapes, apricots, figs, dates, peaches, berries, and others. Among these, the dried grapes segment commands the major share in the global dried fruit market owing to the multiple health benefits provided by dried grapes that include advantage of controlling blood pressure, which is one of the major concerns in the elderly population. Based on application, the dried fruit market has been segmented into breakfast cereal, bakery, confectionary, snacks, desserts, and others. Among these, the bakery application segment is anticipated to dominate the global dried fruit market followed by confectionary products. Based on the distribution channel, the global dried fruit market has been segmented into store-based channel or non-store based channel. Among these, the store-based channel is forecasted to dominate the global dried fruit market due to the consumer preference of one-stop shopping experience. Whereas, increasing popularity of e-commerce platforms is resulting in the growth of the non-store based distribution channel in the global dried fruit market.

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Regional Analysis:

Geographically, the global dried fruit market has been segmented into four major regions such as North America, Europe, Asia Pacific and rest of the world (ROW). The dried fruit market in the Asia Pacific region is forecasted to dominate the global dried fruit market owing to the high rate of production of dried fruits complimented by favorable climatic conditions that support the yield of high quality products and utilization of dried fruits in local cuisines for preparation of various traditional food dishes, mainly in India. Booming retail market and high demand for dried fruits due to increasing consumption of bakery products, desserts and others. Increasing population of health-conscious consumers and rise in consumption of packaged food are propelling the expansion of the dried fruits market in the Europe region. Increased import of dried fruits majorly from Asia Pacific region is also fueling the growth of the dried fruit market in the North America and Europe regions.   

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This release was published on openPR.