Market Overview:
The global dry fruits market size was USD 6.71 billion in 2023 and is projected to grow from USD 6.96 billion in 2024 to USD 10.41 billion by 2032, exhibiting a CAGR of 5.16% during the forecast period 2024-2032. Europe dominated the dry fruits market with a market share of 28.32% in 2023. Moreover, the dry fruits market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 1.12 billion by 2032, driven by the emerging trend of better-for-you products, which has ultimately increased dried fruits adoption in various food sectors across the region.
LIST OF KEY COMPANIES PROFILED
Manassen Foods Australia Pty Ltd. (New South Wales, Australia)
Olam International Limited (Singapore)
Ocean Spray Cranberries, Inc. (Massachusetts, U.S.)
Bergin Fruit and Nut Company, Inc. (Minnesota, U.S.)
Sunsweet Growers, Inc. (California, U.S.)
National Raisin Company (California, U.S.)
Sun-Maid Growers of California (California, U.S.)
Angus Park Fruit Company Pty Ltd (North SA, Australia)
Graceland Fruit, Inc. (Michigan, U.S.)
Murray River Organics (Victoria, Australia)
Source: https://www.fortunebusinessinsights.com/industry-reports/dry-fruits-market-100544
Market Segments:
The global market is classified by type into table dates, dried grapes, dried figs, dried apricots, prunes, and dried cranberries. Dried grapes are expected to hold the largest share during the forecast period due to their extensive variety of healthy snacks. They are also a great value in the international food service industry due to their utilization in a range of bakery products and desserts.
The market is divided into bakery, confectioneries, breakfast cereal, and snacks based on application. The bakery segment is expected to hold the lion’s share during the forecast period. The growth is attributed to the high demand for healthy baked goods such as gluten-free, vegan, and fiber-rich cakes and muffins
Based on geography, the market is categorized into North America, Asia Pacific, the Middle East and Africa, and Latin America.
The report on the fruit market involves:
Through analysis of all the sections in the market
Informative data and figures
Market trends and drivers
Meticulous information about prominent companies
Key development
COVID-19 impact
Driving Factor:
Surging Demand for Organic Snacking Options to Encourage Growth
The increasing popularity of natural and minimally processed organic food products is expected to foster the market's healthy growth. The excessive demand for small-sized mixed dried fruit packs, snack bars, and breakfast bars infused with whole or minimally processed dried fruits will accelerate the growth of the dry fruit industry. Moreover, the surging sales of breakfast cereals like muesli and granola that utilize organic dried fruits as key ingredients will further spur opportunities for the market. The increasing knowledge about the nutritional benefits of clean-label and organic dried fruit will incite the dry fruit market's development. Besides, the increasing focus for improved food safety and quality control through refined technologies such as freeze-drying will bode well for the market. Hence, the need for freeze-dried fruits to produce breakfast cereal and bakery items can significantly foster market development.
Regional Insights:
Rising Demand for Confectionery and Snacks to Aid Market in Europe
Asia Pacific is expected to hold a significant share during the forecast period due to consumers' increased discretionary income levels. The increasing spending capacity of consumers will further benefit the dry fruit market in the forthcoming years. Moreover, the growing awareness regarding the health benefits of dried fruits will aid the expansion of the market in China, India, and Vietnam. Europe is expected to hold the lion’s share during the forecast period due to the growing demand for dried grapes, table dates, and dried apricots in European countries. North America is expected to expand gradually in the forthcoming years due to the need for healthy baked goods, confectionery, and snacks in the region. The Middle East and Africa is expected to rise exponentially during the forecast period due to the growing production of dried fruits in Saudi Arabia and Iran.
KEY INDUSTRY DEVELOPMENTS
December 2020- Great Value Foods LLP owned brand ORCO launched a range of organic dry fruits free from any impurity and artificial colors.
February 2018 – Peyman Kuruyemis, a Turkish producer of dried fruits, nuts, and seeds has expanded its production capacity by building a new production facility for dried fruits.