USD 13.69 billion
Report ID:
SQMIG30I2149 |
Region:
Global |
Published Date: December, 2024
Pages:
198
|Tables:
96
|Figures:
76
Fruit Snacks Market size was valued at USD 4.76 Billion in 2023 and is poised to grow from USD 5.1 Billion in 2024 to USD 8.9 Billion by 2032, growing at a CAGR of 7.20% during the forecast period (2025-2032).
The global fruit snacks market has been driven by the rising demand for healthier foods among millennial health-conscious consumers worldwide. Customers have been choosing healthy snacks for intake between meals, and occasionally as meals. Additionally, due to consumers' busy lifestyles and growing desire for convenience food products, it is anticipated that over the coming few years, sales of ready-to-eat healthy foods will rise significantly.
All age groups, including children, millennials, and members of Generation X, are becoming more interested in eating meals made of vegetables and fruits because they are nutritious without sacrificing flavor or texture. Additionally, the growing consumer class's purchase power enables them to choose expensive and exotic goods. Consequently, there has been an increase in demand over time for products that make promises about their health, such as being organic and non-GMO, as well as having exotic tropical flavors.
In order to meet the growing demand, the industry's makers have also been introducing new products that include various fruit forms, such as frozen-dried pieces, pastes, powders, and juice drops. For consumers with busy schedules, these products offer a decent source of vitamins and minerals in a ready-to-eat format. Even after processing, the product's freeze-dried version can restore the majority of its nutritional and natural qualities. It has been demonstrated that healthy snacks made of fruits and vegetables are associated with improved mental health, as per a study on the advantages of a healthy snack (Fruit) versus a bad snack, a study by Andrew P. Smith and Rosannagh Rogers. These nutritious eating practices may help to lessen mental distress, fatigue, and depression. The demand for fruit snacks is anticipated to rise in the coming years due to the increasing number of consumers with poor mental wellbeing.
Global Market Size
USD 13.69 billion
Largest Segment
Supermarkets and Hypermarkets
Fastest Growth
Online Retailers
Growth Rate
8.1% CAGR
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Global Fruit Snacks Market is segmented by Product, Fruit, Nature, Distribution and Region. Based on Product, the market is segmented into Fruit Roll Ups, Freeze Dried Fruits, Fruit Bars, Soft Chews, Smoothies, Others. Based on Fruit, the market is segmented into Apple, Mango, Banana, Pineapple, Berrie, Mixed, Others. Based on Nature, the market is segmented into Organic, Conventional. Based on Distribution, the market is segmented into Supermarkets and Hypermarkets, Convenience Stores, Online, Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Fruit
The largest market share with a proportion of more than 20.0% in 2022 was the mixed fruit snacks segment. Consumers have taken an interest in the goods produced by major companies like Welch's, Kellogg NA Co., and Mott's LLP. Two crunchy baked snacks, namely, Medley Apple snacks & Strawberry Chips, and Medley Pineapple Chips & Coconut Chips, were introduced by Bare Snacks in June 2021. The sweet flavors of these two mix chip combos are ideal for summer and hold a high consumer base.
Due to its advantages in terms of keeping blood sugar levels and lowering cholesterol, the apple-based fruit snack market is anticipated to expand at the fastest rate in the years to come. Children frequently eat packaged apple segments as a snack. Additionally, apple chips have been growing in acceptance among customers over time.
Analysis by Distribution Channel
In 2022, the supermarkets and hypermarkets segment dominated the market and generated more than 50% of the total income. Customers have been drawn to purchase from this distribution channel due to the availability of a broad variety of products as well as exclusive discounts and offers. Additionally, the development of the segment has been aided by these shops' improved services, such as home delivery and Click and Collect advantages. The major supermarket and hypermarket chains around the globe include Walmart, Costco, Lidl, Publix, and 7-Eleven.
The segment for online retailers is anticipated to grow at the fastest CAGR of 10.9% between 2023 and 2030. The popularity of online retailers among customers has been growing as a result of convenient shopping and quick delivery choices. About 49% of customers purchased food online as of 2022. The global expansion of this distribution channel has been fueled by the rising use of smartphones and better logistics infrastructure.
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In 2022, North America dominated the market and accounted for more than 35.0% of global revenues. The majority of consumers eat these snacks to sate cravings, cover a hunger gap in their diet between meals, and supplement their nutrition. The North American industry is dominated by the United States. The area has a very high demand for ready-to-eat foods, particularly among the younger and more diverse population segments. As a consequence, over the past few years, these snacks have gained more shelf space in retail establishments.
Asia Pacific is predicted to register the fastest growth rate i.e., a CAGR of 10.3% between 2021 and 2027. This region might expand as a result of the rising per capita consumption and the expanding populace. The market for fruit snacks is also expected to increase due to an increase in demand from middle-class households and rise in consumer health awareness.
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Drivers
Rise in Number of Health Consciousness
Restraints
Competition with Other Healthy Snacks
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There are many domestic and foreign competitors in the industry, resulting in an intense market competition. Manufacturers have introduced fresh, cutting-edge products at various price points in response to the growing worldwide demand. For instance, Rind treats, LLC will begin offering its "skin-on superfruit" treats in July 2021 with a Coco-Melon flavor. Similar to this, Go Organically introduced three organic fruit treats in August 2020: Fruit Medley (fruit medley includes strawberry, peach, apple, orange, and cherry), Mixed Berry (fruit medley includes strawberry, blueberry, raspberry, and blackberry), and Tropical bursts. (Includes mango, kiwi, pineapple, and mandarin orange).
Top Player’s Company Profiles
Recent Developments
In January 2024, Farmley, known for its healthy snacking options featuring dry fruits and nuts, is broadening its product range. They are introducing snack sticks made from Makhanas, offering a wholesome and nutritious snacking option called Munchies.
In January 2024, BrandSpark International revealed the recipients of the 21st annual 2024 Best New Product Awards™ ("BNPA"), Canada's most extensive and reputable new product recognition initiative. Over 15,000 Canadians contributed to the national survey, evaluating products across 106 categories spanning Food, Beverage, Beauty, Health, Personal Care, Kids, Pet, Household Care, Home Goods & Footwear, Restaurant Menu Items, and Services. These winners were chosen solely by consumers, reflecting genuine shopper preferences and experiences with the awarded products.
In February 2024, PIM Brands, Inc., the company behind Welch's® Fruit Snacks, a beloved brand in America, has selected creative agency GUT Miami as its new Agency of Record. GUT Miami will oversee the messaging and brand identity of Welch's® Fruit Snacks' Core Portfolio in the U.S., driving impactful campaigns and fostering brand affinity.
Rising Demand for Organic and Natural Products
Increasing Popularity of Plant-Based Snacks
Growing Demand for Convenient and On-the-go Snacks
Innovation in Flavors and Packaging
Rising Demand for Gluten-free and Non-GMO Products
Growing Demand for Fruit Snacks Among Children
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Fruit Snacks market has been driven by the rising demand for healthier foods among millennial customers who are health-conscious. Customers have been choosing healthy snacks to take between meals, and occasionally as meals. Additionally, due to consumers' busy lifestyles and growing desire for convenience food products, it is anticipated that over the coming few years, sales of ready-to-eat healthy foods will rise significantly. Fruit snacks face competition from other healthy snack options such as granola bars, trail mix, and protein bars, which may limit their market growth. There is a growing demand for natural and organic fruit snacks as consumers become more health-conscious and prefer to consume products that are free from chemicals and artificial ingredients.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 4.76 Billion |
Market size value in 2032 | USD 8.9 Billion |
Growth Rate | 7.20% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Fruit Snacks Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fruit Snacks Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fruit Snacks Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fruit Snacks Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG30I2149
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