With 7.69% CAGR, Fruit Snacks Market to hit US$ 9.3 Billion by 2028

IMARC Group, a leading market research company, has recently releases report titled "Fruit Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the global fruit snacks market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the fruit snacks market?

The global fruit snacks market size reached US$ 6.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.3 Billion by 2028, exhibiting a growth rate (CAGR) of 7.69% during 2023-2028.

What are fruit snacks?

Fruit snacks refer to processed confectioneries that are prepared using fruit juice and pulp. They are commonly made by using several fruits, such as apple, mango, banana, berriesand pineapple, along with sugar, gelatin, corn syrup and fruit concentrate. These fruits are usually preserved by freeze-drying the fresh products that aid in retaining their natural flavor and nutritional value. They are further fortified using thickening agents, preservatives and natural and artificial flavoring agents. Widely characterized by extended shelf life and convenience of storage, they are available in the forms of dips, fruit chips and chunks, popsicles, jellies, gammies and smoothies.

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What are the growth prospects and trends in the fruit snacks industry?

The global market is primarily driven by considerable growth in the food and beverages sector. With the shifting dietary patterns of the masses and the growing preference toward healthy snacking options, there has been a rise in the demand for fruit snacks across the globe. This is also supported by the inflating disposable income levels of individuals and easy product availability through online and offline organized retail channels. The market is further driven by the launch of fruit snacks in exotic and tropical variants, which are gaining widespread prominence among the masses.

Numerous manufacturers are also introducing product variants that are prepared using organic and non-genetically modified (GMO) ingredients to cater to the shifting preferences of their consumers. Some of the other factors contributing to the market include aggressive promotional activities by vendors and extensive research and development (R&D) activities in production technologies. On account of the aforementioned factors, the market is expected to grow at a CAGR of 7.69% during 2023-2028.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:

Sweet and Savory Chips
Fresh Cuts and Slices
Candies and Bars
Dairy-Based
Others

Breakup by Fruit Type:

Apple
Mango
Banana
Pineapple
Berries
Mixed
Others

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Specialty Food Stores
Online Stores
Others

Breakup by Region:

North America (U.S. Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Bare Foods Co. (PepsiCo Inc)
Brothers International Food Corporation,
Chaucer Foods Ltd. (Pilgrim Food Group PLC)
Crispy Green Inc.
General Mills Inc.
Kellogg Company
Nutty Goodness LLC
Sunkist Growers Incorporated
SunOpta Inc
The Hershey Company
Welch Foods Inc.

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