Dried Fruits Market-Overview
By 2030, the dried fruit market is projected to grow at a CAGR of 5.70% and reach USD 15.5 billion.
The demand for dried fruit has grown over time due to the rising popularity of nutrient-dense packaged foods and the widespread use of dried fruit in the dairy, patisserie, snack, and confectionery sectors. The dried fruit market is being driven by changing customer preferences for healthy and nourishing foods due to an increase in obesity and an aging population. Consumers' increased knowledge of the drawbacks of artificial colours and tastes has encouraged them to adopt healthier eating practices. Clean labels or user-friendly labels cut through the clutter of excess information and provide useful details, giving customers a sense of control over their health. Because customers want food without added chemicals or preservatives, clean-label products are in high demand.
Due to ongoing changes in consumption habits, such as the growing appeal of wholesome and nutritious snacks, the snacking business is expanding globally. The demand for dried nuts and fruits throughout the convenience food market is predicted to increase due to the growing trend among consumers to choose quick and luxuriant snacking choices that meet their daily nutritional demands. In addition, it is anticipated that rising investments in research & development of novel snacks containing a variety of dehydrated fruits will spur market expansion in the years to come.
Competitive Analysis
Governments have moved quickly to the economic crisis to avoid the collapse of banks and financial institutions and lessen the impact of the banking crisis on the economy. These actions aim to speed up economic recovery and maintain economic stability. Throughout the projection period, the market expansion is anticipated to be encouraged by improved public policy. The need to evaluate and seize business possibilities is projected to produce attractive options soon. The repercussions of the ongoing epidemic on the world economy have made business continuity increasingly necessary. It is anticipated that the market will be impacted shortly by restructuring its main businesses. In the projected term, it is anticipated that the spike in innovative items in the global supply chain will create new opportunities. Market output stabilization is thought to take a variety of forms. It is anticipated that the reorganization and enhancement of global supply networks and trade agreements will optimize the market in its entirety for the upcoming stage of development.
The dried fruits key market players are Red River Foods Incorporated (US), Traina Foods (US), Paradise Fruits (Germany), Sunbeam Foods Pty Ltd (Australia), Dole Food Company Inc (US), National Raisin Company (US), Kiantama Oy (Finland), Sun-Maid Growers of California (US), Lion Raisins Inc (US), and Bergin Fruit and Nut Company Inc. (US).
Segmental Analysis
The dried fruits market is segmented by type: figs, apricots, berries, raisins, and dates. By application, the market is segmented into bakery and confectionery, beverages, dairy and frozen desserts, sweet and savory snacks, and breakfast cereals. By category, the market is segmented into organic and conventional.
Detailed Regional Analysis
Due to growing knowledge of the benefits of functional foods for health and the appeal of on-the-go nutrition, Europe is the top region. Iran, Afghanistan, and Turkey have the highest exports and production of dehydrated fruits, so the Middle East and Africa area holds the largest market share. The demand for dried grapes, table dates, and dried apricots is rising from developed markets in Europe and North America for further processing into value-added commodities, including nutritious baked goods, confectionary, and snacks. Additionally, the growing popularity of bakery goods and dried fruit and nut snacks among young adults in the Middle East and Africa supports the regional market expansion. Due to the locals' access to flexible income possibilities, Asia-Pacific is the region with the highest growth in this sector. Dehydrated fruits are more in demand among millennials due to rising consumer awareness of their nutritional benefits and rising consumer ability to purchase nutritious food.
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