Consumer awareness regarding health and wellness is increasing across regions, which, in turn, is impacting food consumption patterns. Increasing prevalence of various diseases is pushing customers toward health consciousness and influencing them to opt for products with better health and nutrition value. Dried fruits have high fiber content, potassium, folate, and magnesium. Antioxidants in dried fruits are known to improve the response of insulin, along with preventing oxidative stress and inflammation in the pancreas. Vitamin C in dried fruits enhances the immune system and also helps improve skin quality. With dried fruits offering natural laxative effects to increasing number of health-conscious consumers, along with offering convenience, the global dried fruits market is expected to witness a significant value CAGR of around 6% through 2030, with demand for conventional dried fruits surging the fastest across East Asia and South Asia.
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Key Takeaways from Dried Fruits Market Study
- The food & beverage industry holds the highest volume share of 70% in the year 2020, owing to increasing use of dried fruits as additives for enhancing the flavor and nutritive content of food products.
- 9 out of 10 unit sales across the globe will be of the whole/ pieces form of dried fruits, owing to minimal processing requirement and ability to retain the flavor and nutritional content of the fruit as compared to the powder form.
- Dried grapes hold significant market share in the dried fruits market, owing to the rising interest for healthy snacking, and innovative bakery and confectionery products using dried grapes as an ingredient to replace sugar.
- Online retail sales of dried fruits are expected to exhibit a high value CAGR of 5% over the forecast period, globally, attributable to growing Internet penetration and quick seek out deals for choosing price- and quality-specific dried fruits.
- Though the COVID-19 pandemic has affected the functioning of the dried fruits market, some of the lost ground will be recovered due to consumers stockpiling health-beneficial foods and surging sales through e-Commerce.
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Global Dried Fruits Market: Competitive Landscape
Manufacturers in the dried fruits market are focusing on acquisitions, mergers, and partnerships for increasing their market presence. Key players such as Archer Daniels Midland Company and Chaucer Foods Ltd are focusing on increasing their market share globally.
- In 2017, AGRANA Beteiligungs-AG acquired a fruit processing plant from the Indian company Sai Krupa Fruit Processing Pvt. Ltd. The acquisition would enable the company to extend its product portfolio for various customer segments in food service, dairy, bakery, and ice cream industries.
Manufacturers operating in the dried fruits market are also taking innovative approaches such as sourcing premium fruits from different origins to offer higher quality of dried fruits for different end-use industry verticals.
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