The projected CAGR of the global Fruit Snacks Market through the forecast period is 9.5%, with an expected value of USD 10.87 Billion in 2028 from USD 5.38 Billion in 2020. The market is expected to witness significant growth due to the rising demand for healthy and nutritious snacks and the increasing population of health-conscious consumers. Additionally, the popularity of on-the-go, ready-to-eat, and convenience foods is expected to fuel market growth. Fruit snacks are particularly favored by children and young people due to their candy-like taste and easy-to-eat nature. These products are commonly packaged in sustainable plastic packaging, eliminating the need for refrigeration or storage.
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Top Companies Operating in the Global Fruit Snacks Market Report:
Nutty Goodness, Welch's, Mount Franklin Foods, LLC, SunOpta, PepsiCo, General Mills Inc., Chaucer Foods Ltd., Kellogg NA Co., and Crispy Green Inc.
Key Highlights from the Report:
· The sweet and savory segment is forecast to register a significant growth rate in the estimated timeframe owing to the growing inclination towards processed and convenient foods, increasing trend of snacking among kids, and introduction of attractive products such as gummy bears.
· Based on the fruit type, the mixed fruit segment is projected to occupy a sizeable share of the market attributable to their extensive usage in puddings, jams, smoothies, and juices. The growing demand for flavored food products is further fueling the segment’s growth.
· The increasing availability of a large variety of products on the shelves of the supermarket and the incorporation of technologically advanced equipment in the supermarkets and hypermarkets is projected to bolster the growth of the supermarkets and hypermarket segment over the estimated timeframe.
· Asia Pacific is projected to record a significantly high CAGR of 10.6% through the estimated timeframe accrediting to the rapid expansion of the industry in the region owing to the soaring levels of expendable income, escalating health-conscious populace, and the augmenting apprehension about the advantages of fruit snacks among the consumers.
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The global Fruit Snacks market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Sweet & Savory
- Smoothies
- Cuts and Slices
- Dairy
- Others
Fruit Outlook (Revenue, USD Billion; 2018-2028)
- Mango
- Banana
- Apple
- Pineapple
- Mixed
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retailers
- Others
Key Questions Addressed in the Report:
· What are the dominating factors that are influencing the growth of the industry?
· In the forecast period, which market segment is expected to rise the most?
· What are the risks and challenges that the industry is facing?
· In the coming years, which area is projected to dominate the market?
· Who are the major players in the market? What kind of strategic business plans have they made?
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