Banana-based Fruit Snacks Market to hit $1,000 million by 2025

Global Market Insights, Inc. has released a new research study on fruit snacks market analysis inclusive of one or more factors covering regional opportunities, application landscape, product demand trends, and end-use portfolio of the industry over the forecast timeframe.

With the paradigm of consumer behavior shifting towards more health-conscious and higher lifestyle standards, fruit snacks market size is witnessing a significant boost as the need for wholesome snacks is surging.
The pursuit of healthier dietary habits, higher amounts of disposable income at hand and changing trends in consumer preferences for ready-to-eat convenient foods are factors propelling the demand for fruit snacks in the current market scenario.

Mainstream retail stores, including supermarkets, grocery stores and hypermarkets among others, led global fruit snacks market , accounting for a share of more than 78% in 2018. While developed nations gravitate towards supermarkets for their food & beverage necessities, owing to the convenience of a wide product range with economical price points available under one roof, developing economies like APAC, Africa and the Middle East are observing a surge in mainstream stores with strategic FDI policies, speedy developments and economic progress augmenting the segmental evolution.

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Concurrently, the rise of online retailers and wider product availability through the Internet will open up new avenues for the fruit snacks market. The demand for fruit snacks among the growing online consumer base is expanding considerably with factors including product availability, time-effectiveness and shifting consumer preferences towards healthy food options propelling the growth. Estimates claim fruit snacks industry size from online retailers to record a CAGR of 9% through 2025.

There are several trends impelling global fruit snacks market outlook, a few of which are outlined below.

Increasing health awareness to augment fruit snacks industry trends

In light of mounting health concerns, increasingly demanding schedules, improper eating habits and a rampant rise in stress related ailments like obesity, hypertension and diabetes, the need for healthy and nutritious food options has perpetually surged. In consequence, this has provided a substantial boost to fruit snacks market size.

Growing health awareness and better eating habits have led the influx of stringent government initiatives and regulations which will further bolster the market expansion. The global fruit snacks market share is also expected to receive a boost from rise in product marketing through brand ambassadors, food/health related sessions, food guides at various medical institutions.

Government intervention with respect to the promotion of healthier lifestyles and wellness of consumers will augment industry growth. An example of this would be the recent plan developed by Spain’s government to reduce the content of salt, fat and sugar in more than 3500 food and beverage products in the coming years. Likewise, PepsiCo and Coca Cola have made the decision to cut down the sugar content in their sodas and juices in the Indian market by 2025. These developments are expected to drive the demand for low-calorie, low-carb, fiber-rich snacks, stimulating fruit snacks market share.

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Rise in the availability of variety of fruit flavors to propel the market share

Consumers’ inclination towards exotic flavors and top quality are important driving factors for fruit snacks market. As the demand for newer varieties and flavor profiles escalates, manufacturers are gearing towards the launch of products derived from an assortment of fruits including kiwi, cherries, strawberries, raspberries and citrus fruits among others to maintain their individuality in the increasingly competitive market scenario.

Among the plethora of fruit-based snacks in the market, banana-based food items will witness a considerable preference. Estimates claim that banana family based fruit snacks market size will cross USD 1 billion by 2025, registering an appreciable CAGR of over 9% between 2019 and 2025. Consumed in numerous ways from chips to bites to jams, sauces or confectionary, this preference stems from the nutrient-rich nature of the fruit, providing several health benefits include blood sugar control and enhanced digestive health.

Additionally, dairy-based fruit products like yogurt and flavored milk are propelling the fruit snacks market growth owing to the increasing demand for ready-to-eat foods with high nutritional content, convenience and flavor.

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Increasing affordability among user to drive the industry outlook

Considering consumer spending habits, preferences and steady profits, food companies are developing inventive products with convenient packaging at reasonable price points and widespread availability.
The proliferating fruit snacks market outlook in North America, which currently holds over 30% of the industry share globally is attributed to the rise in disposable incomes, customer spending propensity for quality health snacks and surging awareness about wellness.

Intense market penetration of health foods including gluten-free, natural flavored and organic non-GMO products due to growing customer spending is also fueling global fruit snacks market outlook. Global Market Insights, Inc., claims fruit snacks market size to cross USD 8 billion by 2025.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/fruit-snacks-market

Release ID: 88917037