The emergence of next-generation foods, changing nutritional trends, and a substantial increase in snacking habits among children and adults are the key elements bolstering the growth of the industry.
Market Size – USD 5.38 Billion in 2020, Market Growth – CAGR of 9.5%, Market Trends – Increasing demand for at-home snacking amidst the COVID-19 pandemic
The global Fruit Snacks Market is expected to be valued at USD 10.87 Billion in 2028 from USD 5.38 Billion in 2020, registering a CAGR of 9.5% through the forecast period. The market growth can be accredited to the emergence of trends that have augmented product innovations across the global market and given rise to the introduction of novel forms and varieties of fruit snacks. The fruit snacks market is extensively gaining traction from the rising health consciousness across the globe as consumers continually search for healthier and nutritious snacking alternatives.
Fruit snacks saw a massive surge in demand amid the COVID-19 outbreak as they serve as a healthier alternative to other snacks available in the market. During the lockdowns and quarantine period, consumers stockpiled products with longer expiry periods such as fruit snacks, thereby boosting the requirement of the product in 2020. The surging demand for fruit snacks can be accredited to the increasing focus of the consumers on overall health and wellness and growing consciousness about weight during the pandemic and this prevalent trend is further projected to drive the progress of the industry in the estimated years.
The popularity of the fruit snacks can be accredited to the increasing demand from the consumers for sustainably sourced and functional snacks containing natural and healthy ingredients to efficiently cut-back on the highly processed and sugary food items. However, the growing concerns regarding the nutritional value of certain components of the fruit snacks and the growing need to reduce calorie consumption can potentially hamper the growth of the market over the forecast timeline.
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Key Findings from the Report:
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For the purpose of this report, Reports and Data has segmented the global Fruit Snacks Market on the basis of product type, fruit, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
Fruit Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
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