LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global packaged fruit snacks market is expected to grow at a CAGR of more than 12% during the forecast period.
This research report titled ‘Global Packaged Fruit Snack Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Manjunath Reddy, a lead analyst at Technavio for food research, “The global packaged fruit snacks market is driven by the growing preference for healthier snacking options across the globe and by the increasing number of product launches with new flavors, varieties of fruits, and enhanced taste.”
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The market research analysis categorizes the global packaged fruit snacks market into three major product segments. They are:
- Sweet and savory
- Beverages
- Dairy
Global sweet and savory packaged fruit snacks market
This segment of the overall market is expected to register a high growth rate during the forecast period, primarily owing to the high demand for low calorie and healthy snacks. The segment's growth will be more prominent in countries like the US, the UK, and Canada, where health-consciousness is high among consumers. Also, the demand for processed foods that are rich in nutritional content is increasing. In some developed countries, fruits dipped in chocolate are gaining high popularity in recent times. The fruit snack bar market in the US was valued at nearly USD 800 million, which is estimated to post a growth rate of 3.5% during the forecast period.
Global beverage-type packaged fruit snacks market
This segment of the market is also expected to post a high growth rate during the forecast period, mainly attributable to the rising preference for fruit-based smoothies as breakfast items. Pomegranate, avocado, and chocolate-peanut butter are the fastest-growing smoothie flavors in restaurants.
“Most lactose intolerant consumers prefer fruit-based smoothies. Fruit-based smoothies are rich in vitamins, fibrous, and generally do not contain any synthetic ingredients,” says Manjunath.
Global dairy-type packaged fruit snacks market
In comparison to the other segments, the global dairy-type packaged fruit snacks market will post a significant growth rate of more than 19% during the forecast period. This growth can be attributed to the increasing demand for fruit-based dairy products like fruit-flavored yogurts, ice creams, salads, and other similar products. With the growing health-consciousness among the global population, the demand for fat-free yogurts such as fruit yogurts will further support the growth of this segment.
The top vendors highlighted by Technavio’s food and beverage market research analysts in this report are:
- General Mills
- Kellogg
- SunOpta
- Sunkist Growers
- Welch's
Browse Related Reports:
- Global Oat-based Snacks Market 2017-2021
- Global Baked Savory Snacks Market 2016-2020
- Global Fruit Spreads Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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