Fruit Snacks Industry Witnessing Phenomenal Growth by 2027

Fruit snacks are processed and sugary confectioneries, especially made for children. Surging demand for fruit snacks is attributed to the rise in purchasing power and growing consumer preference toward healthy and ready-to-eat convenience food items. Further, with the growing food & beverages industry and improving economic conditions, consumer inclination toward convenience foods is also increasing. Consumers prefer fresh and less processed ready-to-eat products that are equally healthy and nutritious. With the expansion of distribution channels, convenience foods have found a shelf in the supermarkets and retail outlets. Additionally, the change in working demographics and busy lifestyles are among the other factors promoting the demand for convenience food items. Besides, major companies are coming up with the improved quality of fruit snacks and approaching efficient distribution channels to serve the broader customer base.

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The fruit snacks market was valued at US$ 5,057.87 million in 2019 and is projected to reach US$ 9,174.86 million by 2027; it is expected to grow at a CAGR of 7.8% during the forecast period.

Bare Snacks; Crispy Green Inc.; General Mills Inc.; Ferrero; Mount Franklin Foods, LLC; Nutty Goodness, LLC ; Seneca Foods; Sunkist Growers, Inc.; SunOpta; and Welch's are among the well-established players in the fruit snacks market.

Surging demand for fruit snacks is attributed to the rise in purchasing power, and growing consumer preference toward healthy and ready-to-eat convenience food items. Further, with the growing food & beverages industry and improving economic conditions, consumers globally are inclined toward convenience foods. Consumers prefer fresh and less processed ready-to-eat products that are equally healthy and nutritious. With the expansion of distribution channels, convenience foods have found a shelf in the supermarkets and retail outlets. Additionally, the change in working demographics and busy lifestyles are among the other factors promoting the demand for convenience food items. Besides, major companies are coming up with the improved quality of fruit snacks and approaching efficient distribution channels to serve the broader customer base.

The COVID-19 outbreak was first reported in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. As of December 2020, the US, India, Brazil, Russia, France, the UK, Italy, Spain, Argentina, Colombia, Germany, and Mexico are among the worst-affected countries by this pandemic. The pandemic has affected economies and industries in various countries due to travel bans, lockdowns, and business shutdowns. Food and beverages is one of the world's major industries suffering severe disruptions such as supply chain breaks, technology events cancellations, and office shutdowns due to the pandemic crisis. The lockdown of various plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East and Africa has disturbed the global supply chains, and manufacturing, delivery schedules, and product sales. Also, the travel bans imposed by countries in Europe, Asia, and North America are affecting business collaborations and partnership opportunities. With the adverse effect on the food and beverages industry, the COVID-19 pandemic restraining the growth of various markets related to this industry.

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This release was published on openPR.