DUBLIN, May 1, 2020 /PRNewswire/ -- The "Fruit Snack Market - Growth, Trends and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The fruit snack market is projected to grow with a CAGR of 8.17% during the forecast period, 2019-2024.
The fruit snack market is estimated to witness a substantial growth, owing to an increase in the demand for refreshments that are rich in nutritional content, along with the rising consumer awareness, primarily related to the consumption of healthy food.
Rising consumer preference for processed foods that are rich in nutritional content, as compared to other regular processed food, is expected to aid the fruit snack market's growth.
Among all the segments of the fruit snack market, the supermarkets/hypermarkets segment is expected to emerge as the most dominant distribution channel, followed by other segments, over the forecast period. However, the online distribution channel of the fruit snack market is estimated to witness noticeable growth during the forecast period.
Key Market Trends
Online Retailing is Projected to Boost the Market
The online retail platform successfully established itself as a convenient marketplace, offering a wide range of fruit snack products, ranging from meal replacement to indulgent options. The primary reason for the increase in sales through internet retailing is the level of convenience it provides to consumers, as they find it easy to choose their preferred brands among a wide range of flavors and product choices.
Thus, the online and e-commerce stores have been primarily focusing on increasing their market share, in terms of revenue and popularity among consumers. The online vendors are focusing on improving purchase processes, in terms of security and reliability, primarily due to the growth opportunity for the sales of various healthy snacks, including fruit snacks. This, in turn, propelled the demand for these products.
North America Holds the Largest Market Share
Consumer demand for convenient and healthy on-the-go snack options has, by far, been the primary attribute for sales of fruit snacks in the country. Majority of these consumers opt for fruit snacks as meal replacements. Furthermore, hectic lifestyles, coupled with health and wellness concerns, are driving these changes in the eating patterns of the country's consumers.
Likewise, the Canadian fruit snack market continued to record stable growth, due to an increasingly ageing population, and rising health consciousness among the young generation. Marketing campaigns, from the leading manufacturers in the country, are further expected to boost the demand across the country.
The global fruit snack market is highly fragmented, and comprises of regional and international competitors. The market is dominated by players like Hero AG, Pioneer Foods, Brothers International Food Corporation, Sensible Foods, Whitworths, and Nims Fruit Crisps Limited. Furthermore, market players are focusing on leveraging opportunities posed by the emerging markets, in order to expand their product portfolio, primarily to cater to the requirements of various product segments, especially fruit chips and bars.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Distribution Channel
5.1.2 Convenience Stores
5.1.3 Specialist Retailers
5.1.4 Online Retailing
5.1.5 Other Distribution Channels
5.2.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.2.4 South America
184.108.40.206 Rest of South America
5.2.5 Middle East & Africa
220.127.116.11 South Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Brothers International Food Corporation
6.4.2 Crispy Green Inc.
6.4.3 The Isofrut Company Inc.
6.4.4 Sensible Foods
6.4.5 Peeled Snacks
6.4.6 The Hershey Company
6.4.7 Burton and Bamber Company Ltd.
6.4.8 Little Duck Organics
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3nsvku
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets