Fruit Snacks Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
Fruit Snacks Market size is set to witness substantial growth owing to surge in demand of the refreshments rich in nutritional content and growing consumer awareness related to consumption of healthy food. Disposable income among consumers anticipated to rise significantly which will add to the growth in forecast period. Demand is further supplemented by the increasing concern about health benefits of nutritious refreshments.
Rising need of refreshments as processed food will propel the fruit snacks market growth. Fruit refreshments including several types of candies will penetrate food industry in forecast period. Fruit snacks market is growing significantly mainly due to the health benefits associated with consumption of snacks, especially for kids. Fruit is the most preferred snack for children with more than 65 percent of overall snack choice. Increasing number of product introductions by manufacturers with varieties, new flavors, and enhanced taste will add to fruit snacks market growth.
Increasing demand of nutritional ingredients in food, beverages, sweets, dairy, and savory industries will drive the fruit refreshments demand in forecast period. Surge in consumer preference for processed food rich in nutritious content in comparison to other regular processed food will further benefit the product development. Sweet and savory segment is anticipated to dominate all the segments.
Fruit snacks market is anticipated to witness noteworthy growth owing to significant rise in diary application over the forecast period. Surge in convenience stores around the globe owing to rise in urbanization and changing lifestyles of consumers will add to the product growth Demand is further supported by superstores, general stores, and online retailers. In recent years, online retailing gained popularity which is anticipated to supplement fruit snacks market growth.
North America, led by the U.S is expected to witness substantial growth over the forecast period. U.S. holds a major share of the overall refreshments in the region. Government initiatives coupled with favorable regulatory outline will favor food refreshments development. Rapid urbanization beside growing disposable income, mainly in China and India, has resulted in regional growth.
Europe, led by UK will witness noteworthy growth for refreshments in forecast period owing to rising demand of fresh and processed foods. Parents are more concerned about healthy products for their kids. Growing issue of obesity levels among children will add to the fruit snacks market growth.
Asia Pacific is anticipated to gain significant growth owing to increasing disposable income of the consumers in the developing regions mainly India and China. Demand is supported by rising health awareness among consumers regarding nutritional content in food, which will drive the fruits snacks market growth in forecast period. Processed food options popularity due to health benefits, and easy storage compared to fresh foods will further propel fruit snacks market.
Fruit snacks market is highly fragmented owing to presence of considerable number of small and large-scale wholesalers. Vendors compete on basis of product pricing, distribution, service, quality, reputation, innovation, and product promotions. Increasing competition will induce vendors to reduce their product prices. Healthy refreshments offerings, irrespective of profitability issues, are significant part of major players’ product portfolios.
Key vendors operating in fruit snacks market are General Mills, Sunkist Growers, SunOpta, Kellogg, and Welch’s. Other prominent vendors involved in the manufacturing and distributing are Bare Foods, Crunchies Natural Food, Crispy Green, Flaper, Mount Franklin Foods, Nutty Goodness, Paradise, Whitewave Services and Tropical Foods.
Rising demand from the prevailing and potential customer base, merchants are progressively capitalizing enormous amounts in their portfolio expansion activities by introducing innovative products. For instance, SunOpta is investing substantially for new products launch to increase its presence and grab the potential customer base. In order to bear the competition and increase revenue, vendors are anticipated to offer clear and unique value proposition to distinguish their product and service offerings.