Fruit Snacks Market
Fruit Snacks Market Forecasts to 2030 - Global Analysis By Product Type (Fruit Roll-ups, Freeze Dried Fruits, Fruit Bars, Soft Chews and Other Product Types), Fruit Type (Apple, Mango, Pineapple, Banana, Berry, Mixed and Other Fruit Types), Nature, Distribution Channel, Application and by Geography
According to Stratistics MRC, the Global Fruit Snacks Market is accounted for $6.51 billion in 2023 and is expected to reach $16.12 billion by 2030 growing at a CAGR of 12.0% during the forecast period. Fruit snacks are tasty, portable, and convenient for people of all ages to enjoy. These chewy snacks, which are usually made from concentrated fruit juice or puree, are available in a wide range of shapes, colors, and flavors, from traditional fruits like orange and strawberry to more unusual ones like mango and passion fruit. Moreover, fruit snacks, which are frequently sold in single portions, are a favourite for on-the-go snacking, school lunches, and guilt-free sweet tooth satisfaction.
According to the American Academy of Pediatrics, fruit snacks can be a convenient option for parents looking to incorporate more fruit into their children's diets, but it's important to choose options with minimal added sugars and to balance them with whole fruits for optimal nutrition.
Market Dynamics:
Driver:
Growing customer need for convenient and healthful snack options
Fruit snacks are in high demand because modern consumers are searching for healthier snack options. People are looking for snacks that are convenient for their on-the-go lifestyles and offer nutritional benefits, as health and wellness become more and more important to them. Because they contain fruit, fruit snacks are viewed as healthier than traditional snacks like chips or candies and offer a guilt-free option.
Restraint:
Competition from alternative snack sources
There is fierce competition in the fruit snack market for a variety of snack options, such as fresh fruit, nuts, yogurt, granola bars, and so on. Fruit snacks are marketed as healthier alternatives, but they are still in competition with other convenient and nutrient-dense snacks. Additionally, fruit snacks face competition from a variety of snack options when trying to differentiate themselves and hold onto market share. In order to effectively communicate the distinct advantages of fruit snacks over other options, manufacturers must innovate their products.
Opportunity:
Innovation in the formulations and varieties of products
Fruit snack producers have a great chance to stand out from the competition and seize new market niches with constant innovation in product formulas and flavorings. Consumer tastes are shifting toward natural ingredients and clean-label products, creating a need for fruit snacks that emphasize healthfulness without sacrificing flavor. Businesses can experiment with new fruit pairings, organic products, and substitute sweeteners to attract health-conscious customers looking for guilt-free indulgence. Moreover, utilizing cutting-edge technologies in food processing also makes it possible to create novel textures and formats that improve customer satisfaction and the sensory experience.
Threat:
Variations in raw material prices
The profitability margins and operational stability of manufacturers are seriously threatened by the price volatility of raw materials, especially fruits, which are used in the production of fruit snacks. The availability and cost of fruit can vary due to a number of factors, including seasonal variations, climate change, and geopolitical unrest. Furthermore, manufacturers are vulnerable to price shocks and supply chain disruptions due to their reliance on particular fruit varieties or sourcing regions. In order to reduce this risk, businesses need to put strong procurement plans in place, diversify their sources, and build enduring relationships with dependable suppliers to guarantee a consistent and affordable raw material supply.
Covid-19 Impact:
The COVID-19 pandemic had a major effect on the market for fruit snacks. Lockdowns, restrictions, and a labor shortage initially caused problems in the supply chain and manufacturing processes. The shift in consumer behaviour toward necessities and pantry stocking caused fluctuations in the demand for non-essential items such as fruit snacks. During lockdowns, there was an increase in demand for convenient and shelf-stable snacks. However, during the pandemic, consumers placed a higher priority on their health and wellbeing, which led to a rise in interest in nourishing and immune-boosting snacks, such as fruit snacks, which were seen as a healthier choice.
The Fruit Bars segment is expected to be the largest during the forecast period
In the market for fruit snacks, fruit bars usually hold the largest share. Fruit bars are a popular healthy snack option for kids and adults alike because of their versatile flavor selection, easy-to-package design, and appealing appearance. To provide a filling and healthy snack option, these bars frequently include dried fruits, nuts, seeds, and other healthful ingredients. Because of the growing demand for portable snacks and consumers on-the-go lifestyles, they are widely available in a variety of retail outlets, including supermarkets, convenience stores, and online platforms.
The Mixed segment is expected to have the highest CAGR during the forecast period
In the fruit snack market, the mixed segment usually shows the highest CAGR. Indulging a range of tastes and textures in a single product, mixed fruit snacks satisfy a wide range of palates and improve the snacking experience. Popular fruits like apple, mango, pineapple, banana, and different berries are frequently combined in these snacks to create a pleasing harmony of tart and sweet flavors. Customers looking for variety, convenience, and nutrient value in their snacks are drawn to the mixed fruit market. Furthermore, growing awareness of the health benefits of eating a variety of fruits, along with a growing desire for creative and adventurous flavour combinations, will likely drive the mixed fruit segment of the fruit snack market to continue growing rapidly.
Region with largest share:
When it comes to fruit snacks, North America usually has the largest market share. This dominance is mainly explained by the general consumer preference for quick and healthy snack options, as well as a high level of knowledge about the advantages of fruit-based products in maintaining a balanced diet. Fruit snacks are in high demand in North America due to a number of factors, including busy lifestyles, growing health consciousness, and rising disposable incomes. Moreover, the area has a well-established retail infrastructure that includes grocery stores, convenience stores, and internet portals, making fruit snack products easily accessible and widely distributed.
Region with highest CAGR:
In the market for fruit snacks, the Asia-Pacific region usually has the highest CAGR. Numerous factors are driving this growth, such as the large and quickly growing population in the region, the growing urbanization, the rise in disposable incomes, and the shift in consumer preferences toward healthier snack options. Additionally, as the economies of the Asia-Pacific region continue to grow, consumer awareness of health and wellness is rising, which is fueling demand for quick and wholesome snack options like fruit snacks. Further driving market expansion is the impact of Western eating habits as well as the widespread snacking culture in nations like China, India, and Japan.
Key players in the market
Some of the key players in Fruit Snacks market include Kellogg Company , Chaucer Foods Ltd., Mount Franklin Foods LLC, Nestlé S.A. (Lactalis), Crispy Green Inc, Flaper S.A. , Nutty Goodness LLC , Seneca Foods Corporation, General Mills Inc., Sunkist Growers, Inc., Tropical Foods, Ltd., Pioneer Food Groups, Crunchies Food Company, SunOpta Inc. and Welch Foods Inc.
Key Developments:
In October 2023, Kreol Group will distribute famed snack brand Pringles in travel retail as part of an agreement with Kellogg Company. The agreement concerns select travel retail markets in the Middle East, a statement confirmed. Dubai-headquartered Kreol Travel Retail, which does business with major duty free operators in the Arabian Gulf countries, India and Africa, will leverage its extensive network and expertise to grow Pringles’ presence and visibility across the region.
In October 2023, Lactalis will enter a dairy licensing deal in Brazil under a regulatory condition permitting the purchase of a Fonterra-Nestlé joint-venture company. Brazil’s competition regulator – the Administrative Council for Economic Defense (CADE) – cleared the drawn-out acquisition yesterday for French dairy major Lactalis to acquire Dairy Partners Americas, or DPA Brasil. Lactalis first struck a deal for DPA in December in a 700m reais agreement after partners Fonterra and Nestlé had put the venture on the market in 2019.
In May 2022, General Mills, Inc announced that it has entered into a definitive agreement to sell its Helper main meals and Suddenly Salad side dishes businesses to Eagle Family Foods Group, a portfolio company of Kelso & Company, in a cash transaction valued at approximately $610 million. The proposed transaction is expected to close in the first quarter of fiscal 2023, subject to regulatory approval.
Product Types Covered:
• Fruit Roll-ups
• Freeze Dried Fruits
• Fruit Bars
• Soft Chews
• Other Product Types
Fruit Types Covered:
• Apple
• Mango
• Pineapple
• Banana
• Berry
• Mixed
• Other Fruit Types
Natures Covered:
• Conventional
• Organic
Distribution Channels Covered:
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialist Retailers
• Online Retailing
• Other Distribution Channels
Applications Covered:
• Beverages
• Dairy
• Sweets and Savory
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Fruit Snacks Market, By Product Type
5.1 Introduction
5.2 Fruit Roll-ups
5.3 Freeze Dried Fruits
5.4 Fruit Bars
5.5 Soft Chews
5.6 Other Product Types
6 Global Fruit Snacks Market, By Fruit Type
6.1 Introduction
6.2 Apple
6.3 Mango
6.4 Pineapple
6.5 Banana
6.6 Berry
6.7 Mixed
6.8 Other Fruit Types
7 Global Fruit Snacks Market, By Nature
7.1 Introduction
7.2 Conventional
7.3 Organic
8 Global Fruit Snacks Market, By Distribution Channel
8.1 Introduction
8.2 Supermarkets/Hypermarkets
8.3 Convenience Stores
8.4 Specialist Retailers
8.5 Online Retailing
8.6 Other Distribution Channels
9 Global Fruit Snacks Market, By Application
9.1 Introduction
9.2 Beverages
9.3 Dairy
9.4 Sweets and Savory
9.5 Other Applications
10 Global Fruit Snacks Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Kellogg Company
12.2 Chaucer Foods Ltd.
12.3 Mount Franklin Foods LLC
12.4 Nestlé S.A. (Lactalis)
12.5 Crispy Green Inc.
12.6 Flaper S.A.
12.7 Nutty Goodness LLC
12.8 Seneca Foods Corporation
12.9 General Mills Inc.
12.10 Sunkist Growers, Inc.
12.11 Tropical Foods, Ltd.
12.12 Pioneer Food Groups
12.13 Crunchies Food Company
12.14 SunOpta Inc.
12.15 Welch Foods Inc.
List of Tables
1 Global Fruit Snacks Market Outlook, By Region (2021-2030) ($MN)
2 Global Fruit Snacks Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Fruit Snacks Market Outlook, By Fruit Roll-ups (2021-2030) ($MN)
4 Global Fruit Snacks Market Outlook, By Freeze Dried Fruits (2021-2030) ($MN)
5 Global Fruit Snacks Market Outlook, By Fruit Bars (2021-2030) ($MN)
6 Global Fruit Snacks Market Outlook, By Soft Chews (2021-2030) ($MN)
7 Global Fruit Snacks Market Outlook, By Other Product Types (2021-2030) ($MN)
8 Global Fruit Snacks Market Outlook, By Fruit Type (2021-2030) ($MN)
9 Global Fruit Snacks Market Outlook, By Apple (2021-2030) ($MN)
10 Global Fruit Snacks Market Outlook, By Mango (2021-2030) ($MN)
11 Global Fruit Snacks Market Outlook, By Pineapple (2021-2030) ($MN)
12 Global Fruit Snacks Market Outlook, By Banana (2021-2030) ($MN)
13 Global Fruit Snacks Market Outlook, By Berry (2021-2030) ($MN)
14 Global Fruit Snacks Market Outlook, By Mixed (2021-2030) ($MN)
15 Global Fruit Snacks Market Outlook, By Other Fruit Types (2021-2030) ($MN)
16 Global Fruit Snacks Market Outlook, By Nature (2021-2030) ($MN)
17 Global Fruit Snacks Market Outlook, By Conventional (2021-2030) ($MN)
18 Global Fruit Snacks Market Outlook, By Organic (2021-2030) ($MN)
19 Global Fruit Snacks Market Outlook, By Distribution Channel (2021-2030) ($MN)
20 Global Fruit Snacks Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
21 Global Fruit Snacks Market Outlook, By Convenience Stores (2021-2030) ($MN)
22 Global Fruit Snacks Market Outlook, By Specialist Retailers (2021-2030) ($MN)
23 Global Fruit Snacks Market Outlook, By Online Retailing (2021-2030) ($MN)
24 Global Fruit Snacks Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
25 Global Fruit Snacks Market Outlook, By Application (2021-2030) ($MN)
26 Global Fruit Snacks Market Outlook, By Beverages (2021-2030) ($MN)
27 Global Fruit Snacks Market Outlook, By Dairy (2021-2030) ($MN)
28 Global Fruit Snacks Market Outlook, By Sweets and Savory (2021-2030) ($MN)
29 Global Fruit Snacks Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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