Latest News- Packaged Fruit Snacks Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Packaged Fruit Snacks Market is being driven by Changing food consumption patterns

The Packaged Fruit Snacks Market is expected to grow at a CAGR of 9.45% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3857.5 million. The global economy has witnessed significant growth, as evidenced by an increase in disposable personal income (DPI) in key markets such as the US and India. According to the US Bureau of Economic Analysis (BEA), DPI in the US rose by 0.5% or USD89.7 billion in March 2022. Similarly, India's per capita Net National Income (NNI) increased by 35.12% from Rs. 72,805 (USD871.74) in 2014–15 to Rs. 98,374 (USD1,177.89) in 2022–23, as per the Press Information Bureau (PIB). Factors including the expansion of dual-income households, rising per capita income, and a burgeoning employment rate have contributed to this global income growth. These economic trends have created a favorable environment for the packaged fruit snacks market, as consumers with increased disposable income are more likely to purchase convenient and healthy snacking options. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• Product
  • Sweet and savory packaged fruit snacks
  • Beverage-type packaged fruit snacks
  • Dairy-type packaged fruit snacks
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Changing food consumption patterns
• High demand for low-calorie snacks
• Growing product availability through retail chains

However, the market also witnesses some limitations, which are as follows:

• Rise in demand for fresh fruits
• Fluctuations in raw material costs
• Processed food considered harmful to health.

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Market Scope in Packaged Fruit Snacks Market Research Report

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Research Analysis Overview

The Packaged Fruit Snacks market is witnessing a significant surge in demand due to increasing health consciousness among consumers. With the rising incidences of obesity, weight diseases, high blood pressure, and cardiovascular diseases, consumers are seeking healthier alternatives to traditional snacks. Packaged fruit snacks offer a solution, as they are often fortified with essential vitamins and minerals such as Vitamin A, Magnesium, and Potassium. Brands like Paradise Fruits, Nutty Goodness, and Nourish Snacks are leading the charge in this market, offering fiber-enriched products that cater to the health-conscious consumer. General Mills, Dairy, Beverages, and even online retailers and convenience stores are jumping on the bandwagon, offering a wide range of sweet and savory, protein-rich, plant-based fruit snacks. Functional foods have become a popular trend, and fruit snacks are no exception. These snacks often contain micronutrients that offer additional health benefits, making them a healthy alternative to sugary or processed snacks. Organic and healthy product offerings are also on the rise, as consumers seek out snacks that are free from artificial additives and preservatives. In summary, the Packaged Fruit Snacks market is expected to continue its growth trajectory, as consumers increasingly seek out convenient, healthy snack options that provide essential vitamins and minerals to support a healthy lifestyle.

Market Research Overview

The global packaged foods and meats market encompasses vendors engaged in food processing to ensure food safety and enhance shelf life. According to Technavio, the market's size is determined by the consolidated revenue of the participating companies. This market scope excludes food processing equipment manufacturers and packaged beverage producers, including alcoholic and non-alcoholic beverages. Key growth drivers for the global packaged foods and meats market include the health benefits linked to the consumption of minimally processed foods, such as vegetables, which are abundant in essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/