ID: MRFR/F-B & N/3078-CR | February 2021 | Region: Global | 110 pages
Dried Fruits Market is expected to register a CAGR of 4.70% to reach USD 9900.3 Million by 2026. Dried fruits are prepared by eliminating the water content from the fruits. These dried fruits are consumed across the world because of their health benefits. Additionally, these dried fruits are rich in a high concentration of nutrients like vitamins, fiber, calories, and antioxidants. However, dried fruits are considered to consume in small portion as it is rich in high calories. Moreover, the dried fruits go through a drying process where it requires high heat and because of this process, it loses some of the volatile nutrients.
There are many types of dried fruits available in the Dried Fruits Market. Among these, the demand for raisins is always high in the current period. In many parts of the World, the raisins type of dried fruits are eaten raw, and some regions like to use it in brewing, baking, and cooking. Generally, this type of dried raisins is rich in minerals, fiber, and vitamins as well as it is packed with complete energy. In addition, these dried raisins are high in calories and sugar and give the taste of sweetness naturally. The demand for dried raisins is increasing daily due to their health benefits, such as keeping bones strong, boosting iron levels, and aiding digestion. On the other hand, the berries type of dried fruits is expected to acquire the highest CAGR in the review period.
Nowadays, the consumption for processed and convenience foods demand is growing steadily because of lifestyle changes. Here, the demand for ready-to-eat products (bread, biscuits, breakfast cereals, rolls, cakes, pastries, doughnuts, etc.) and processed and convenience foods is increasing due to the hectic lifestyles and rising spending capacity and growing per capita disposable incomes.
Covid-19 Impact Analysis
The lives of the people have paused due to the Covid-19 outbreak across the World as more cases increased rapidly daily. This is not all; it has negatively impacted the marketing industry. In many ways, the Dried Fruits Market has been affected in this period. The production of the dried fruits has been affected due to the worldwide lockdown and shut down in various parts of the World. Other issues like running production under-staffed, manufacturers face production issues, lack of transportations have impacted the global Market Trends.
Moreover, the compulsory closures of hypermarkets and supermarkets have affected the dried fruits sales in the World. Therefore, the present existing market players have adopted new strategies to propel the growth of the global market and increase the Dried Fruits Market Size in the research period.
Major Drivers of the Market
The rising consumption of instant beverages and the growth of application industries is projected to drive the Dried Fruits Market growth. In addition, the growing demand for superfruit powder, consumer willingness to buy healthy products, and growing consumer inclination towards clean label products are other major factors that are contributing to fuel the market growth during the forecast period of 2020 to 2026.
As per the International Nut and Dried Fruit Council Foundation (INC), 129,250 MT of dried berries was consumed across the World in the year 2013, and it was further increased to 199,476 MT in 2017. Hence, this increases the demand for the dried fruits and increases the Dried Fruits Market Size in the research period.
Opportunities of the global market
In the global Dried Fruits Market Trends, the growing demand for natural and organic ingredients, consumer willingness to purchase healthy products, and increasing clean label products among the consumers are projected to provide profitable growth opportunities to the manufacturers and giant players of the global market in the future period.
Moreover, the growing research and developments and new product launch amongst the major key players enhance the global Market.
The Dried Fruits Market might get hampered due to the agro-climatic conditions. Moreover, the hypersensitivity to certain fruits might hamper the market growth as the dehydration process losses a certain percentage of vitamins in the dried fruits.
Hence, the global Market Revenue growth is projected to be affected due to the market restraints in the review timeframe.
Market Growth challenges
As per the Dried Fruits Market Analysis, the global market might experience challenges while fulfilling the traditional labels in formulating the organic versions by promising the organic product, various dry nuts, and fruits manufacturers.
The Dried Fruits Industry Forecast report explains that the key market players are adopting new methods and techniques to meet the needs of the consumers by combating the marketing challenges.
Cumulative growth Analysis
The global Market is estimated to create a notable growth rate in the assessment period due to several reasons, and growing health consciousness among the consumers is one of the major factors.
According to Dried Fruits Industry Analysis, the regions like Africa, North America, Asia Pacific, South America, and the Middle East are playing an essential role in enhancing the cumulative growth of the global market during the assessment timeframe.
Market Segment Overview
The Dried Fruits Market has been classified into Figs, Apricots, Raisins, Berries, Dates, and others in terms of type segment.
In 2019, the raisins segment was projected to account for the major Dried Fruits Market Share and is further predicted to grow USD 3,422.98 Million at a substantial CAGR during the forecast period.
Based on the category segment, the global Market has been categorized into Organic and Conventional.
According to the Dried Fruits Market Forecast report, the organic dried fruits segment is preferred highly among the consumers as compared to the conventional dried fruits.
Based on the application segment, the Dried Fruits Market has been categorized into Dairy and Frozen Desserts, Sweet and Savory Snacks, Bakery and Confectionery, Beverages, Breakfast Cereals, and others.
The increasing application of industries is predicted to enhance the Dried Fruits Market in the research period. Additionally, the sales of dried fruits are predicated growth among the consumers due to the growing demand in the consumption of instant beverages.
In the Dried Fruits Market, many regions are contributing to the success of the global market, such as:
In 2019, the rest of the World had generated the largest Dried Fruits Market Share of 33.82%. This regional market has witnessed higher growth due to two important factors: the advent of organized e-commerce channels and the retail sector and the growing disposable income. Moreover, the dried fruits are adopted by many food applications and manufacturers in the region, which is enhancing the Dried Fruits Industry Growth. In addition, this region has some of the important dominated key industries like bakery and confectionery, beverages, sweet and savory snacks, which is fueling the market growth in the research timeframe. Further, the Asia Pacific regional market is projected to account for the largest Global Market share in the forecast period due to the increasing demand for the dried fruits in the regions.
Competitive Landscape Analysis
Currently, high growth has been witnessed in the Dried Fruits Market due to key market players' support. These important key players of the markets are:
These prominent key global market players are adopting product launches, acquisitions, and expansions techniques to capture a large customer base and strengthen their market position. Hence, their collective efforts can be witnessed in the Dried Fruits Market Growth in the forecast period.
In March 2017, Amsterdam Commodities N.V (Acomo) and Delinuts B.V announced their partnership to account for 100% of the market share in the Dutch family business, including edible seeds, tea, spices, nuts, and food ingredients.
In March 2017, a new drying facility with 12-30 tonnes of flour and dried fruits production capacity on a yearly basis was introduced by Azuri Health Limited.
The Dried Fruits Market Outlook report has covered the market dynamics, overview, Covid-19 analysis, segments, regional analysis, and competitive analysis.
Further, the Dried Fruits Industry Outlook report explained that the global market had witnessed the higher recent developments and investments, which is thriving the market growth in the research period.
|Market Size||USD 9,081.70 Million (2026)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Category, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||National Raisin Company (US), Kiantama Oy (Finland), Red River Foods Incorporated (US), Traina Foods (US), Sunbeam Foods Pty Ltd (Australia), Dole Food Company Inc (US), Sun-Maid Growers of California (US), Lion Raisins Inc (US), Paradise Fruits (Germany), and Bergin Fruit and Nut Company Inc. (US).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global Dried Fruit market is projected to grow at approximately 4.41% CAGR during the assessment period (2019-2026).
On the basis type, dried grape and on the basis of application, the bakery products segment holds majority shares in the global dried fruit market.
Spreading awareness towards the range of health benefits that the product offers, shift towards plant based food, the rising disposable income, and the changing consumption pattern among consumers, are major tailwinds pushing the growth of the global dried fruit market.
Asia Pacific holds the largest share in the global dried fruit market, followed by North America and Europe, respectively.
Sunbeam foods Pty ltd (Australia), Olam International (Singapore), Arimex Ltd (Lithuania), Ocean Spray Cranberries Inc. (U.S.), Sunsweet (U.S.), Sun-Maid (U.S.), and National Raisin Company (U.S.), are some of the top players operating in the global dried fruit market.