Dried Fruit Market Size, Share & Trends Analysis Report By Product (Apricots, Dates, Raisins, Figs, Berries), By Distribution Channel (Supermarkets & Hypermarkets, Online), By Region, And Segment Forecasts, 2020 - 2027
The global dried fruit market size is expected to reach USD 13.92 billion by 2027, registering a CAGR of 5.7% over the forecast period, according to a new report by Grand View Research, Inc. Rising number of health-conscious consumers, growing awareness about the health benefits of dried fruit, and increasing application of the product in the food preparation are some of the factors driving the market for dried fruit. Furthermore, introduction of innovative products, along with increasing purchasing power, has been boosting the demand for dried fruit over the world.
In terms of product, raisins or dehydrated grapes held the largest share of over 35% in 2019. Countries including China, India, U.K., Germany, Turkey, and U.S. are the key consumers in the world. Vast application of these dried fruits in several foods, including dairy, bakery, snacks, and confectionary, has fueled the demand across the globe. The berries segment is expected to witness the fastest growth over the forecast period owing to their growing popularity of these dried fruits.
Shifting consumer preference for organic food products has also influenced the market growth over the past few years. As a result, manufacturers are expanding their organic product lines. For instance, in August 2019, Solely, Inc. introduced a new line of organic fruit jerky at all the Whole Foods Market stores in U.S. This new product line includes six single and two-ingredient products.
Key industry competitors include SUNBEAM FOODS, Sun-Maid Growers of California, AL FOAH, Bergin Fruit and Nut Company, Angas Park, Murray River Organics Gr, Red River Foods, Geobres, Kiantama Oy, Traina Foods, and SUNSWEET. Expansion of the product portfolio through the launch of innovative products has been a key strategy among the manufacturers. In addition, new players are entering the market in order to meet the growing demand. For instance, in October 2019, North Bay Produce, Inc. launched its first dehydrated fruit line. The company offers five products, including blueberries, cherries, cherries with zero added sugar, cranberries, and whole cranberries.
Further key findings from the study suggest:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook