Global Fruit Snacks Market Size, Share, Growth Analysis, By Product(Sweet & Savory, Smoothies), By Fruit(Apple, Mango), By Distribution Channel(Hypermarkets & Supermarkets, Convenience Stores) - Industry Forecast 2023-2030

Global Fruit Snacks Market size was valued at USD 6.2 billion in 2021 and is poised to grow from USD 6.8 billion in 2022 to USD 12.9 billion by 2030, growing at a CAGR of 9% in the forecast period (2023-2030).

The global fruit snacks market has been driven by the rising demand for healthier foods among millennial health-conscious consumers worldwide. Customers have been choosing healthy snacks for intake between meals, and occasionally as meals. Additionally, due to consumers' busy lifestyles and growing desire for convenience food products, it is anticipated that over the coming few years, sales of ready-to-eat healthy foods will rise significantly.

All age groups, including children, millennials, and members of Generation X, are becoming more interested in eating meals made of vegetables and fruits because they are nutritious without sacrificing flavor or texture. Additionally, the growing consumer class's purchase power enables them to choose expensive and exotic goods. Consequently, there has been an increase in demand over time for products that make promises about their health, such as being organic and non-GMO, as well as having exotic tropical flavors.

In order to meet the growing demand, the industry's makers have also been introducing new products that include various fruit forms, such as frozen-dried pieces, pastes, powders, and juice drops. For consumers with busy schedules, these products offer a decent source of vitamins and minerals in a ready-to-eat format. Even after processing, the product's freeze-dried version can restore the majority of its nutritional and natural qualities. It has been demonstrated that healthy snacks made of fruits and vegetables are associated with improved mental health, as per a study on the advantages of a healthy snack (Fruit) versus a bad snack, a study by Andrew P. Smith and Rosannagh Rogers. These nutritious eating practices may help to lessen mental distress, fatigue, and depression. The demand for fruit snacks is anticipated to rise in the coming years due to the increasing number of consumers with poor mental wellbeing.

Global Fruit Snacks Market Regional Insights

In 2022, North America dominated the market and accounted for more than 35.0% of global revenues. The majority of consumers eat these snacks to sate cravings, cover a hunger gap in their diet between meals, and supplement their nutrition. The North American industry is dominated by the United States. The area has a very high demand for ready-to-eat foods, particularly among the younger and more diverse population segments. As a consequence, over the past few years, these snacks have gained more shelf space in retail establishments.

Asia Pacific is predicted to register the fastest growth rate i.e., a CAGR of 10.3% between 2021 and 2027. This region might expand as a result of the rising per capita consumption and the expanding populace. The market for fruit snacks is also expected to increase due to an increase in demand from middle-class households and rise in consumer health awareness.

Global Fruit Snacks Market Dynamics

Drivers

Rise in Number of Health Consciousness

Consumers are increasingly becoming health conscious and prefer snacks that are low in calories, fat, and sugar. Fruit snacks provide a healthy alternative to traditional snacks that are high in calories and sugar.

Restraints

Competition with Other Healthy Snacks

Fruit snacks face competition from other healthy snack options such as granola bars, trail mix, and protein bars, which may limit their market growth.

Global Fruit Snacks Market Competitive Landscape

There are many domestic and foreign competitors in the industry, resulting in an intense market competition. Manufacturers have introduced fresh, cutting-edge products at various price points in response to the growing worldwide demand. For instance, Rind treats, LLC will begin offering its "skin-on superfruit" treats in July 2021 with a Coco-Melon flavor. Similar to this, Go Organically introduced three organic fruit treats in August 2020: Fruit Medley (fruit medley includes strawberry, peach, apple, orange, and cherry), Mixed Berry (fruit medley includes strawberry, blueberry, raspberry, and blackberry), and Tropical bursts. (Includes mango, kiwi, pineapple, and mandarin orange).