According to the latest market report published by Transparency Market Research, titled ‘Dried fruit ingredients Market: Global Industry Analysis and Opportunity Assessment 2018-2026’, revenue generated from the global dried fruit ingredients market has been estimated to be valued around US$ 6,180.4 Mn in 2018, which is projected to increase at a CAGR of 5.1% during the forecast period (2018-2026).
Driving factors such as the demand for fiber-rich foods, consumer preference for natural food additives, and health consciousness contribute to the accelerating growth of the dried fruit ingredients market. Dried fruit ingredients are highly consumed in the European region, expected to account for around 42.3% share during the forecast period, owing to the highest utilization of dried fruit ingredients in breakfast cereals in the region. Increased market penetration in developing and developed economies makes the dried fruit ingredients market a highly competitive one, thereby resulting in consistent launch and expansion of products by the key market players of dried fruit ingredients. Players in the market such as SunOpta Grains and Foods Inc. and Döhler GmbH are well-known for their premium quality of dried fruit ingredients. These companies spend appreciably on promoting their brands online as well as other distribution channels, and hence, have high visibility and premium placement on retail shelves. Thus, consumers are more interested in buying branded dried fruit ingredients as a sign of premium quality.
Being a developing economy and with an increased number of food processing industries, Asia Pacific the highest Compound Annual Growth Rate of dried fruit ingredients market as compared to other regions, due to the highest consumption of dried fruit ingredients in various food products including low-fat breakfast flakes, cereals, and others. Factors such as favorable government policies on natural food additives, and inclining application of dried fruit ingredients in confectionaries and desserts. It is anticipated that the Asia Pacific region would witness a high growth rate of the dried fruit ingredients market – 6.7% growth during the forecast period.
Increasing consumer health consciousness regarding natural food products in recent years has been a major contributing driver for the global dried fruit ingredients over the years. Organic dried fruit ingredients are expected to have a high preference as compared to conventional dried fruit ingredients during the forecast. By nature segment, the organic dried fruit ingredients segment is anticipated to witness the highest compound annual growth rate of 6.1% during the forecast period. However, the organic dried fruit ingredients segment has a minimal market share at present, due to the market being huge for conventional dried fruit ingredients at affordable prices.
Dried fruit ingredients like raisins are high sources of energy and nutrients. Athletes and sportsmen are turning towards natural and chemical-free energy supplements, and dried fruit ingredients are the most popular choice. Raisins are used as high energy sources and are also used in health tonic and high energy health supplements. Dried fruit ingredients are easy to carry, and have a longer shelf life, thus are popular among mountaineers, campers, and backpackers as an instant energy source. Hence the several health benefits associated with the consumption of the dried fruit products triggers demand for the same.
This report covers the current trends driving each segment, and offers detailed analysis and insights into the potential growth of the global dried fruit ingredients market. The final section of the report comprises a competitive landscape of various market players, to provide an audience view with a comparative and comprehensive dashboard. Key players covered in the report are the current dynamic manufacturers in the dried fruit ingredients market. Elaborated profiles of the manufacturers are also included in the scope of the report to analyze their short-term and long-term strategies, key offerings, and recent developments in the dried fruit ingredients market.
This post was originally published on The Market Plan