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Fruit Snacks Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type ; Fruit Family ; and Distribution Channel

Fruit Snacks Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type ; Fruit Family ; and Distribution Channel

  • December 2020
  • 162 pages
  • ID: 6010060
  • Format: PDF
  • The Insight Partners

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The global 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 2020–2027.

Fruit snacks are sugary processed food product prepared from concentrated fruit juice and purees.They are full of nutritional content including potassium, vitamins, magnesium, and fiber, which help mitigate cardiovascular diseases, high blood pressure, and obesity.

The main ingredient in these snacks is refined sugar, extracted from white grape juice and apple juice.These snacks are similar to the gummy candies and come in several delicious flavors such as strawberry, raspberry, orange, white grape, and many more. Fruit snacks are the most preferred snack for children; an average pouch of these snacks corresponds to 80–90 calories per small pouch, which is a reasonable amount of calories for a kids’ snack. They are free of cholesterol and fats, and are very low in sodium. Many also provide vitamins A and C. The freeze dried form of the products can retain most of its nutritional properties even after processing. Increasing demand for dietary ingredients in food, beverages, sweets, savory, and dairy products is expected to surge the fruit snacks demand over the forecast period. Moreover, easy digestive properties are expected to boost fruit snacks’ popularity among adults and working women in the coming years.

On the basis of type, the fruit snacks market is segmented into sweets and savoury, beverages, dairy, and others.In 2019, the sweets and savory segment dominated the market.

Different types of sweets & savory fruit snacks are freeze dried, extruded strips, and so on, and they include chips, trail mixes, and gummies.These products are gaining popularity owing to increasing consumer preference for processed food products with high nutritional content.

Besides, the rising demand for sweets & savory fruit snacks among the children of age group 3–7 years is expected to drive the segment growth.Moreover, trail mixes such as prunes, figs, berries, dates, and apricots with seasoning, exotic flavoring, and coatings have been gaining popularity over the years.

These snacks are on-the-go products that are rich in antioxidants, and help in boosting energy. Several savory snack processers and manufacturers are offering diversified products in terms of new shapes and flavor profiles to gain consumer attention.

In terms of geography, the fruit snacks market is segmented into North America, Europe, AsiaPacific (APAC), South America, and Middle East and Africa (MEA). North America held the largest share of the fruit snacks market in 2019, followed by Europe and Asia Pacific.The North America region consists of developed economies such as the US and Canada, as well as developing nations such as Mexico. In the North America region, the US is a major market for fruit snacks, followed by Canada and Mexico. The increase in consumer focus for maintaining fitness and regulating body weight leads to the demand of natural food products. Moreover, the rise in the presence of modern retail outlets such as supermarkets and hypermarkets in the US and Canada favors the market for fruit snacks in these countries. The rise in the demand for organic fruit snacks also propels the market growth. European continent comprises several developed economies, such as Germany, France, the UK, and Italy. The market for fruit snacks in Europe is witnessing growth owing to the presence of well-established players such as SunOpta and Sunkist Growers, Inc. in this region. APAC comprises Australia, China, India, Japan, and South Korea, among others. These developed and developing countries are witnessing growth in the middle-class population, along with growth in urbanization, which offers several opportunities for the key market players in the fruit snacks market.

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.

According to the WHO, there are ~72,851,747 affirmed cases and 1,643,339 death cases all around.COVID-19 has affected economies and undertakings due to lockdowns, travel bans, and business shutdowns.

The global food & beverages industry is one of the major businesses enduring supply chain breaks, and manufacturing disruptions due to lockdown and office shutdowns.China is the global hub of manufacturing and the largest raw material supplier for various industries.

The lockdown of various plants and factories in Asia Pacific and Europe is affecting the global supply chains as well as limiting the manufacturing and delivery schedules, and product sales. These factors also hinder the global fruit snacks market growth.

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 major players present in the global fruit snacks market.

Overall size of the global fruit snacks market size has been derived in accordance with both primary and secondary sources.To begin the research process begins exhaustivesecondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. The participants typically involved in the process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants, such as valuation experts, research analysts, and key opinion leaders—specialized in the fruit snacks.

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