The global fruit snacks market is poised to grow at an impressive CAGR of over 8.5% and is estimated to reach a value pool of over US$ 9 Bn by the end of the forecast period (2019-2027). Although breakfast foods and energy drinks have gained precedence among the masses, fruit snacks are becoming popular and their consumption will continue to grow at a steady clip. Health foods are no longer a niche group, as they are starting to incorporate more mainstream food trends. These conditions are transforming the landscape of the food industry to give the fruit snacks market a lucrative base for growth. A pronounced understanding of wellbeing is one of the prevalent trends among top tier consumers and one of the main determinants behind healthy food choices and sales of fruit snacks. This is further motivating food companies to utilize locally sourced, functional and natural ingredients for fruit snacks
Important regions covered in the fruit snacks market report include:
- North America (Canada, US)
- Latin America (Argentina, Mexico)
- Europe (NORDIC, UK)
- MEA and Japan
- APEJ (China, India)
North America had an overall market share of more than 25%. Increasing millennial propensity for convenience foods with a high nutritional quotient will drive the fruit snacks market in this area. Asia Pacific will be the most lucrative region for the fruit snacks market during the forecast period with a growth rate of over 5.5%. Growing fears about high sugar intake, artificial ingredients and dissatisfaction with daily indulgence is causing Asian consumers to shift towards fruit snacks. Beverages comprised over 35% of the overall market share. A rapid increase in functional drink consumption due to increased health concerns will drive the market for fruity beverages such as juice and smoothies in the forecast timeline
The global fruit snacks market is fragmented in nature with a large number of internationally operating competitors such as General Mills Inc., Welch Foods, Kellogg Co. and SunOpta acquiring top shares. In 2019, The Ferrero Group acquired the fruit snacks business segment from Kellogg Co. with a US$ 1.3 Bn deal. With this acquisition, the company looks forward to strengthening its position in the North American market.
You can Request an Example Copy from here – https://www.factmr.com/connectus/sample?flag=S&rep_id=4476
Find More Valuable Insights on the Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for fruit snacks, with historical data on demand (2013-2018) and expected projections for the period (2019-2027). The report discloses compelling insights into the demand for fruit snacks based on nature (organic, conventional) product type (sweets & savories, dairy products, beverages), distribution channel (modern trade, specialty stores, convenience stores, online stores, departmental stores/mom & pop stores, drug stores & pharmacies, travel retails) across several major regions.
About The Food & Beverages Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Ask Industry Professional about Report – https://www.factmr.com/connectus/sample?flag=AE&rep_id=4476
We leverage space-age industrial and digitalization tools to provide avant-garde actionable insights to our clients regarding the fruit snacks market. For enhancing readers’ experience, the report starts with a basic overview about the fruit snacks and its classification. Further, we have considered 2014 as the base year, 2027 as the estimated year, 2019 – 2027 as the stipulated timeframe.
About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.
Contact Us
FactMR
11140 Rockville Pike
Suite 400, Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
Basant
Fact.MR
info@factmr.com