The fruit snacks market was valued at US$ 5,057.87 million in 2019 and is projected to reach US$ 9,174.86 million by 2027; it is expected to grow at a CAGR of 7.8% during the forecast period.
Fruit snacks are processed and sugary confectioneries, especially made for children. Surging demand for fruit snacks is attributed to the rise in purchasing power and growing consumer preference toward healthy and ready-to-eat convenience food items. Further, with the growing food & beverages industry and improving economic conditions, consumer inclination toward convenience foods is also increasing. Consumers prefer fresh and less processed ready-to-eat products that are equally healthy and nutritious. With the expansion of distribution channels, convenience foods have found a shelf in the supermarkets and retail outlets. Additionally, the change in working demographics and busy lifestyles are among the other factors promoting the demand for convenience food items. Besides, major companies are coming up with the improved quality of fruit snacks and approaching efficient distribution channels to serve the broader customer base.
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North America is expected to hold the largest share of the global fruit snacks market during the forecast period. Several domestic and international companies have a strong foothold in the North American region. Key market players in the North America fruit snacks market include Bare Snacks, Crispy Green Inc., and Mount Franklin Foods LLC. These companies are constantly working toward innovation and new product developments of fruit snacks to bring improved tastes and quality in their products to attract new consumers and widen the consumer base in the region. An upsurge in the incidence of obesity, high blood pressure, and diabetes has made the people more reliant on products that are highly nutritious. Fruits contain vital nutrients such as magnesium, potassium, vitamins, and fibers that help in the reduction of risks associated with obesity and cardiovascular diseases.
In-depth qualitative analyses include identification and investigation of the following aspects:
Restraints and Challenges
EmerFruit Snacksg Product Trends & Market Opportunities
Risk Assessment for Investing in Global Market
Critical Success Factors (CSFs)
The competitive landscape of the market has been examined on the basis of market share analysis of key players. Detailed market data about these factors is estimated to help vendors take strategic decisions that can strengthen their positions in the market and lead to more effective and larger stake in the global Fruit Snacks Market. Pricing and cost teardown analysis for products and service offerings of key players has also been undertaken for the study.
The Table of Content for Fruit Snacks Market research study includes:
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