Summary
Major players in the dried fruits market are Sunbeam Foods Group Ltd., Sun-Maid, Bergin Fruit and Nut Company, Traina Foods, Sunsweet, Lion Raisins Inc., Murray River Organics Gr, National Raisin Company, Geobres, Angas Park, AL FOAH, Royal Nut Company, Tulsi Nuts and Dryfruits, Valley Harvest Nut Company, Paradise Fruits, and Kiantama Oy.
The global dried fruits market grew from $7.86 billion in 2022 to $8.68 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The dried fruits market is expected to grow to $11.62 billion in 2027 at a CAGR of 7.6%.
The dried fruits market consists of sales of dried grapes, dried olives, dried prunes, and other dried fruits.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Dried fruits are defined as fruits that have been preserved by dehydrating or drying to concentrate the flavor or sweetness and to extend the shelf life. In dried fruits, the bulk of their original water content is removed, either naturally, by sun drying, or artificially, by using specialized dryers or dehydrators.
Asia-Pacific was the largest region in the dried fruits market in 2022.North America was the second-largest region in the dried fruits market.
The regions covered in the dried fruits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of dried fruits are apricots, dates, raisins, figs, berries, and others.Apricots, sometimes known as Armenian plums, are a type of stone fruit.
Dried apricots are used to improve bone mineral density and help in promoting eye health. The different categories include conventional, and organic and are used in confectioneries, dairy products, bakery products, snacks and bars, desserts, cereals, and others.
The growing population of healthier consumers is expected to propel the growth of the dried fruits market in the coming years.Healthy eating has become the norm, with most customers intending foods and beverages to meet progressively nuanced health, wellness morality, and sustainability criteria.
Dry fruits are a good source of protein, vitamins, minerals, and dietary fibre and are considered a good replacement for high-calorie snacks.According to the survey commissioned by biotechnology startup Gelesis, in January 2021, 60% of Americans would like to feel healthier and 51% want to reduce weight by practising and modifying their diets, which includes attempting to eat more plant-based foods.
Therefore, the growing population of healthier consumers drives the growth of the dried fruits market.
The launch of new flavoured dried fruits has emerged as a key trend in the dried fruits market.Major players operating in the dried fruits sector are focused on introducing new flavoured dried fruits into the market to strengthen their position.
For instance, in March 2021, Ocean Spray Cranberries, Inc., a US-based American agricultural cooperative, launched Ocean Spray® Fruit Medley, a new dried fruit line with delectable craisins combinations. Ocean Spray® Fruit Medley is manufactured with premium, high-quality ingredients and contains no artificial colours, flavours, or preservatives. It comes in three distinct variations with immunity, fibre, and probiotic benefits.
In April 2021, Hyle Capital Partners, a private equity firm based in Italy acquired a majority stake in Manuzzi for an undisclosed amount.This acquisition helps to accelerate growth and strengthen Manuzzi’s position within the major retail chains in Italy.
Manuzzi is an Italy-based company that produces dried fruit and nuts.
The countries covered in the dried fruits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The dried fruits market research report is one of a series of new reports that provides dried fruits market statistics, including dried fruits industry global market size, regional shares, competitors with a dried fruits market share, detailed dried fruits market segments, market trends and opportunities, and any further data you may need to thrive in the dried fruits industry. This dried fruits market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
