The projected CAGR of the global Packaged Fruit Snacks Market through the forecast period is 9.5%, with an expected value of USD 10.87 Billion in 2028 from USD 5.38 Billion in 2020. The market is expected to witness significant growth due to the rising demand for healthy and nutritious snacks and the increasing population of health-conscious consumers. Additionally, the popularity of on-the-go, ready-to-eat, and convenience foods is expected to fuel market growth. Fruit snacks are particularly favored by children and young people due to their candy-like taste and easy-to-eat nature. These products are commonly packaged in sustainable plastic packaging, eliminating the need for refrigeration or storage.
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Top Companies Operating in the Global Packaged Fruit Snacks Market Report:
Nutty Goodness, Welch's, Mount Franklin Foods, LLC, SunOpta, PepsiCo, General Mills Inc., Chaucer Foods Ltd., Kellogg NA Co., and Crispy Green Inc.
Restraint For Packaged Fruit Snacks Market:
- Price sensitivity: While fruit snacks are often marketed as a healthier snack option, they can be more expensive than other snacks. This can make them less attractive to price-sensitive consumers, especially in developing countries.
- Competition from other snack categories: Fruit snacks face competition from other snack categories, such as nuts, popcorn, and energy bars, which offer similar health benefits and convenience.
- Short shelf life: Fruit snacks have a relatively short shelf life compared to other snack categories, which can make it difficult for retailers to manage inventory and increase the risk of waste.
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The global Packaged Fruit Snacks Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Sweet Savory
- Smoothies
- Cuts and Slices
- Dairy
- Others
Fruit Outlook (Revenue, USD Billion; 2018-2028)
- Mango
- Banana
- Apple
- Pineapple
- Mixed
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Supermarkets Hypermarkets
- Convenience Stores
- Online Retailers
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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