Dried Fruits Market Size Is Projected To Reach $19.46 Billion With CAGR Of 5.5% By 2034
Dried Fruits Market
Dried Fruits Attractive Option for People Looking to Follow Protein-rich Diets: Fact.MR Report
ROCKVILLE, MD, UNITED STATES, August 8, 2024 /EINPresswire.com/ -- Worldwide revenue from the sales of dried fruits1 is projected to reach US$ 11.39 billion in 2024, as revealed in a newly published research report published by Fact.MR, a market research and competitive intelligence provider. The global dried fruit market has been forecasted to expand at a CAGR of 5.5% from 2024 to 2034.Growing trend of consuming protein-rich food is stimulating demand for dried fruits among consumers. These products come with a higher content of unsaturated fats, fibers, vitamins, and proteins, which has driven their popularity in all parts of the world.
Rising cases of lifestyle-related disorders are stimulating demand for healthy snacks and bakery products, breakfast cereals, and snack bars containing dried fruits as a popular snacking option. Preference for dried fruits in vegan confectionary and bakery products and gluten-free eatables is owing to their rich nutritional profile. In addition, growing investment by manufacturers in extending the shelf life of their products is pushing demand for dried fruits in ready-to-eat and convenience food options.
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North America and East Asia are key regional markets for dried fruit producers and will continue to grow steadily over the coming years. Over the past years, the use of dried fruits has been higher in food and beverage products. However, consumption has been rising faster in the foodservice sector, which will account for the bulk of market share over the next ten years.
Key Takeaway from Market Study:
Worldwide sales of dried fruits are projected to reach US$ 19.46 billion by the end of 2034. Sales of dried fruits in Japan are forecasted to rise at 6% CAGR from 2024 to 2034.
Global demand for powdered dried fruits is forecasted to increase at a CAGR of 5.4% and reach a market value of US$ 10.28 billion by the end of 2034. North America is estimated to hold 24.3% of the global market by 2034-end.
Use of dried fruits in the foodservice industry is projected to rise at 6% CAGR and reach a value of US$ 8.87 billion by 2034. The market in South Korea is projected to increase at a CAGR of 6.2% from 2024 to 2034.
“Companies should focus on offering dried fruits produced through consumer-friendly practices, such as sun-dried, minimally processed, and clean-label ingredients for use in baked goods, salads, and pickles,” says a Fact.MR analyst.
High Demand for Clean-label and Organic Dried Fruits in United States:
Demand for dried fruits in the United States is calculated to increase at a CAGR of 5.9% and reach a value of US$ 2.16 billion by the end of 2034. There is a growing demand for mixed dried fruits with minimal processing. They are used in several breakfast cereals for their clean-label and natural attributes. Dried fruits are perceived as a healthier alternative to conventional options. Moreover, the growing preference for dried fruits in ready-to-eat food options is because of their rich nutritional profile and convenience.
Key Market Players:
Chaucer Foods Ltd., Berrifine A/S, Kiril Mischeff, Seawind International LLC, European Freeze Dry, Liogam, Woodland Foods, Messina Verpakkings, AGRANA Beteiligungs-AG, Archer Daniels Midland Company, Paradise Fruits, Dohler, Naturz Organics, Divine Foods, Ceres Organics, and Redsun Dried Fruit and Nuts are some of the leading manufacturers of dried fruits.
Country-wise Insights:
According to a recently released study by market research and competitive intelligence company Fact.MR, North America is projected to account for 24.3% of the global market by the end of 2034. The use of dried fruits in a variety of products, including morning cereals, dry fruit-based bakery goods, and snacks, is growing as a result of new trends in healthier product consumption in the US and Canada.
Why Do Market Participants Find Lucrative Opportunities in the United States?
By the end of 2034, the United States is predicted to have a 45.6% market share in North America. There is a growing market for morning cereals, such granola and muesli, that also employ organic dehydrated fruits as main components, as well as mid- and small-sized mixed dried fruit bases enhanced with minimally processed and whole dried fruits and nuts.
Nuts and fruits with clean labels and organic certifications are thought to be safer than conventional varieties. Furthermore, the growing acceptance of ready-to-eat dried fruit snacks can be attributed to their convenient travel packaging and ability to meet nutritional needs.
Why does China hold a significant position in the dried fruit market?
By the end of 2034, China is expected to hold a 47.5% share of the East Asian market. Sales of dried fruits are rising as a result of their increasing use in baked goods, confections, and other sweet recipes. Furthermore, the growing retail industry, increasing inclination towards healthier food choices, appropriate packaging, and better accessibility to dried fruits are creating profitable prospects for industry participants.
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Why are Fruit Manufacturers attracted to Japan?
By the end of 2034, Japan is expected to hold a 29.4% share of the East Asian market. A growing number of millennials are placing a premium on dried fruits as a result of their growing preferences for reasonably priced, healthful foods with good nutritional profiles. Demand for dried fruits is being driven by the growing popularity of organic and minimally processed food products.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the dried fruit market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on type (apples, mangoes, figs, strawberries, grapes, cranberries, blackcurrant, oranges, cherries, blueberries, pineapples, apricots, prunes), nature (organic, conventional), form (whole, powdered/pieces), end use (food & beverages, foodservice, retail/household), and distribution channel (business to business, business to consumer), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
FAQ’S:
What is the demand outlook for dried fruits by 2034?
Worldwide sales of dried fruits are estimated to reach US$ 19.46 billion by 2034-end.
Is the dried fruit business profitable?
The dried fruit business holds a noteworthy profit share with a rising focus on wellness and health.
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1 https://www.factmr.com/report/dried-fruit-market
2 https://www.factmr.com/report/850/dried-fruit-extracts-market
3 https://www.factmr.com/report/5186/freeze-dried-fruit-extract-market
