Press release
Global Dried Fruits Market To Be Driven By Healthy Consumer Habits In The Forecast Period Of 2022-2027
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2020): Around USD 9,972 million
• Forecast CAGR (2022-2027): 4.9%
The rising inclination of people towards nutritious and healthy snacks, owing to increasing health consciousness, is driving the market growth of dried fruits. Dried fruits have a lower glycemic index and are widely consumed by diabetic patients to replace higher glycemic index foods. The growing working-class segment, the increasing vegetarian population, and their improved living standards are enabling them to incorporate dried fruits into their diet.
Dried fruits are a source of antioxidants and fibre. Dried apricots and peaches are also good sources of carotenoids, which the body turns into vitamin A, while prunes, raisins, and apricots also contain iron. The expansion of supermarkets and hypermarkets and the emergence of e-commerce platforms are leading to the easy availability of dried fruits.
The availability of flavoured dried fruits and their addition to various food items, such as healthy baked foods and snacks, to enhance taste and nutrition is catalysing the market growth of dried fruits.
Industry Definition and Major Segments
Dried fruits refer to fruits that are dried of their water, as reducing the amount of water in fruits helps prevent bacteria, yeast or fungi from growing on them. The drying process includes sun drying, tray drying, freeze-drying, and vacuum microwave drying. They possess a sweet taste, a high nutritional value like the fresh fruits, and long shelf life.
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The market for dried fruits, by type, is bifurcated into:
• Organic
• Conventional
Based on products, the market is divided into:
• Raisins
• Apricots
• Dates
• Berries
• Figs
• Others
On the basis of application, the market is segmented into:
• Dairy and Desserts
• Cereals
• Snacks and Bars
• Bakery and Confectionery
• Others
Based on distribution channel, the market is classified into:
• Supermarkets and Hypermarkets
• Convenience Stores
• Online
• Others
The regional markets of dried fruits include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The increasing focus on food safety and hygiene is leading to the adoption of refined drying processes, thereby bolstering the market for dried fruits. For instance, VKC Nuts, a nuts and dried fruits company, launched 'Bactopure', India's first pasteurised nuts and dried fruits, under its brand Nutraj. The brand follows the international standards of hygiene and purity for dried fruits, and the products are 99.99% bacteria and pathogen-free.
Additionally, the government initiatives aimed towards increasing the cultivation of fruits such as prunes, apricots and others are providing impetus to the market growth. Further, the initiatives taken by the market players to offer clean and organic dried fruits-based snacks are resulting in the market expansion.
Various companies are introducing dried-fruit snacks in different flavours with no sugar or sulphites. Attractive packaging of such products and the adoption of new marketing strategies by key players to promote their products are expected to stimulate the market over the forecast period.
Key Market Players
The major players in the market are AGRANA Beteiligungs-AG, Archer Daniels Midland Company, Sun-Maid Growers of California, Bergin Fruit and Nut Company, Berrifine A/S, and Sunsweet Growers Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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