Dried Fruit Market estimated to Grow at CAGR of 4.2% from 2018 to 2023 | Business Opportunity and Forecast

Market Overview:

Dried fruit is a processed fruit in which most of the water is removed from fruit either through a natural procedure of sun drying or dehydrators. Both dried and fresh fruits are a rich source of antioxidants and fibers but in dried fruits, a small amount of vitamins is lost during the dehydration process. However, dried fruit market is gaining acceptance due to its easy snack to pack feature which avoids spoiling of fruits as quickly as fresh fruits. Furthermore, the market is witnessed to be propelling with its application in different product line.

Fruits are an important source of nutrition. Fresh fruits having short lifespan have added advantage to its substitute market of dried fruits. Additionally, increasing health awareness among consumers have a positive impact on the dried fruit market. Moreover, growing R&D to bring innovations regarding its applications in various product lines is adding fuel to market growth. They are highly used in the dairy as well as bakery industry owing to their flavor enhancing-ability. On the other hand, owing to their nutritional value, application of dried fruits in snacks and breakfast cereal is widely focused.

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The inclination of consumers towards consumption of processed nutritional food products is adding fuel to the dried fruits market. It is gaining popularity in food processing industry towards application in various food line on account of increasing nutritional level of the product. However, hypersensitivity towards certain fruits followed by the loss of a certain percentage of vitamins during dehydration process may hamper the market of dried fruits over the forecast period.  

Leading Key Players Analysis:

Some of the key players profiled in the Global Dried Fruit Market are Olam International (Singapore), Ocean Spray Cranberries, Inc. (U.S.), Sunbeam foods Pty ltd (Australia), Arimex Ltd (Lithuania), National Raisin Company (U.S.), Sun-Maid (U.S.), and SUNSWEET (U.S.)

Key Findings:

Application of dried fruits in breakfast cereal industry is growing rapidly. Top exporters of dried fruits includes Turkey, Thailand, the U.S., Germany, and Chile.

Segments:

Dried fruit is segmented on the basis of type, comprising of dried grapes, apricots, figs, dates, peaches, berries, and others. Among all, dried grapes occupy a major share in the market since they have advantage of controlling blood pressure, which is a great concern among the aging population.

On the basis of application, the dried fruit market is segmented into breakfast cereal, bakery, confectionary, snacks, desserts, and others. Among these, applications in bakery products are expected to dominate the market followed by confectionary products. Furthermore, dried fruits provide various nutritional elements to the consumers’, which boost the growth of the segment- breakfast cereal.

Based on the distribution channel, dried fruit are distributed either through a store based channel or non-store based channel. However, the store based channel is dominating the market on the basis of providing one-stop experience to the customers.

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Regional Analysis:

Dried Fruit Market is segmented into Europe, North America, Asia Pacific and rest of the world (ROW). Asia Pacific market accounts for the major share followed by North America and Europe. In Asia Pacific region, India dominated the dried fruit market owing to the festival and gifting culture in India. In North America, the booming retail market is adding fuel to the market growth due to increasing acceptance of packaged food containing nutritional ingredients.

Furthermore, increasing population of health-conscious consumers supported by rising disposable income is propelling the demand for dried fruits. The major importers of dried fruit include the U.K., the U.S., Germany, Vietnam, and France.