E-commerce has become a critical contributor to the distribution network of fruit snacks manufacturers. It is further complemented by rising consumer demand for faster delivery.
DUBLIN, IR / ACCESSWIRE / February 12, 2020 / The global fruit snacks market is set to reach a value of US$ 9 Bn by the end of 2027, as projected by a new study of Fact.MR. Leading manufacturers of fruit snacks are prioritizing product innovations and nutrient compositions to gain traction among the health-conscious consumer clusters.
"Fruit snacks are gaining traction, with a majority of demand from consumers driving production upsurge in breakfast foods and health beverage sectors," says the Fact.MR report.
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Fruit Snacks Market: Key Findings
- Beverages comprise more than 30% of the overall market value, owing to heightening sales of functional beverages.
- Mainstream modern retail stores such as supermarkets and hypermarkets remain key sales avenues for fruit snacks manufacturers.
- E-commerce operators are pushing for active food catalogs, thereby providing a wider range of fruit snacking options, attributing to benefit of having a non-physical shelf space.
- Evolving millennial consumer preferences continue to drive markets across the economies in Asia Pacific, further supported by concerns over artificial ingredients and sugar.
Key Driving Factors
- Health benefits associated with consumption of fruits and derived snacks are a key driver bolstering fruit snack sales.
- Cold chain networking and stronger distribution channel management are pushing market growth in developed regions.
- Manufacturers' efforts towards creativity, consistency, and innovative marketing strategies would add value to market growth.
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Key Market Restraints
- Consumer concerns about potential adverse effects of consuming processed foods continue to create skepticism, impacting sales.
- High competition from other innovative snack options remains a strong factor limiting broader adoption of fruit snacks in global market.
Competition Landscape
The global fruit snacks market is largely fragmented. Industry leaders are focusing their efforts on strategic collaborations, acquisitions, and mergers. Manufacturers are also working on flavor and texture improvements, along with pricing evaluations for their offerings to keep up with the competition. The report has also profiled key players in the global fruit snacks market, including but not limited to The Ferrero Group, General Mills Inc., SunOpta, and Welch Foods.
About the Report
This 200+ pages study provides in-depth forecast data on the fruit snacks market. The key categories encompassed by the report include nature (organic and conventional), product type (sweets and savories, freeze dried, extruded strips, dairy products, beverages, and others), distribution channels (modern trade, specialty stores, convenience stores, online stores, departmental stores, pharmacies, and travel retails) and 25+ countries in key regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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About Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the food & beverages sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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SOURCE: FactMR