The US fruit snacks market was valued at US$ 1,237.46 million in 2019 and is projected to reach US$ 3,661.41 million by 2027; it is expected to grow at a CAGR of 14.8% from 2020 to 2027.
Over the past few years, there is a noticeable increase in the consumption of snacking food products owing to which the demand for convenience foods has increased significantly. Further, there is a surge in the demand for fruit snacks owing to the rise in purchasing power along with the growing consumer preference toward healthy and ready-to-eat convenience food items. Further, the growth of food &beverages industry along with improving economic conditions, has led to increase in consumer’s preference toward convenience foods items including fruit snacks.
Fruit snacks are readily available in retail outlets or stores and are being used as a condiment to add taste, texture, and nutrition in the food product.
Consumers are shifting toward fresh and less processed products that are equally healthy and nutritious and can be directly consumed. With the diversification of distribution channels, convenience foods have found a separate shelf in the retail outlets and supermarkets. Further, the change in working demographics and busy lifestyle are among the other factors promoting the demand for convenience food items. With the increase in the demand for convenience food items, the need for fruit snacks is set to propel. At present, the rising demand for food is widely met by convenience foods across the world. The rapid urbanization has resulted in the prominence of convenience foods in the modern diet resulting in the market growth. Furthermore, the increase in population, coupled with rising economic standard; hike in disposable incomes; and diversification in food habits are surging the demand for convenience foods. To meet the increasing demands, companies are coming up with the improved quality of fruit snacks and efficient distribution channels to serve a wider customer base.
Based on type, sweet and savoury segment is dominating the fruit snacks market. The dominance of this segment is attributed to a shift in consumer’s lifestyles coupled with the inclination toward healthy snacking among children and youth. Further, manufacturers are focusing on launching new products such as gummy bears, drinkable jellies, strips, and bars. These snacks are treated as convenience food items with ample nutrition and taste. Apart from these benefits, they can be conveniently stored and have longer shelf life. With the growing consumer inclination toward fresh and minimally processed convenience products the demand for fruit snacks is expected to rise in the US.
Impact Assessment of COVID-19
The COVID-19 outbreak has been affecting economies and industries in various countries, including the US, India, Brazil, Russia, Italy, the UK, China, Iran, and Spain. Food &beverages is one the world’s major industries facing serious disruptions in the form of supply chain breaks, events cancellations, and office shutdowns as a result of the lockdown imposed in various countries to contain the spread of COVID-19. Although, China is the global manufacturing hub and the largest raw material supplier for various industries, it is one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various food & beverage industries. These factors are likely to restrain the growth of various markets related to the food & beverage industry in next few financial quarters.
The major players operating in the US market are Mount Franklin Foods, LLC; Materne North America Corp.; and Crispy Green Inc.; among others. The companies have been involved in implementing various strategies, such as product launch and other crucial business and planning strategies that have helped the growth of the company, which, in turn, have brought about various changes in the market. The market players are striving to acquire a huge customer base by expanding their presence in the US. For instance, in 2019, Crispy Green Inc. announced new flavor launch, which is nothing but all strawberry-no added sugar, clean single ingredient, Non-GMO, and under 60 calories per serving.
Bare Foods Co., Crispy Green Inc., Crispy Green Inc., Kellogg Company, Mount Franklin Foods, LLC, Nutty Goodness, LLC, Paradise, Inc., Sunkist Growers Inc. Welch Foods Inc., Materne North America Corp. are among the major market players operating in the US fruit snacks market.
The overall US fruit snacks market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the US fruit snacks market.
Reasons to Buy
Over the past few years, there is a noticeable increase in the consumption of snacking food products owing to which the demand for convenience foods has increased significantly. Further, there is a surge in the demand for fruit snacks owing to the rise in purchasing power along with the growing consumer preference toward healthy and ready-to-eat convenience food items. Further, the growth of food &beverages industry along with improving economic conditions, has led to increase in consumer’s preference toward convenience foods items including fruit snacks.
Fruit snacks are readily available in retail outlets or stores and are being used as a condiment to add taste, texture, and nutrition in the food product.
Consumers are shifting toward fresh and less processed products that are equally healthy and nutritious and can be directly consumed. With the diversification of distribution channels, convenience foods have found a separate shelf in the retail outlets and supermarkets. Further, the change in working demographics and busy lifestyle are among the other factors promoting the demand for convenience food items. With the increase in the demand for convenience food items, the need for fruit snacks is set to propel. At present, the rising demand for food is widely met by convenience foods across the world. The rapid urbanization has resulted in the prominence of convenience foods in the modern diet resulting in the market growth. Furthermore, the increase in population, coupled with rising economic standard; hike in disposable incomes; and diversification in food habits are surging the demand for convenience foods. To meet the increasing demands, companies are coming up with the improved quality of fruit snacks and efficient distribution channels to serve a wider customer base.
Based on type, sweet and savoury segment is dominating the fruit snacks market. The dominance of this segment is attributed to a shift in consumer’s lifestyles coupled with the inclination toward healthy snacking among children and youth. Further, manufacturers are focusing on launching new products such as gummy bears, drinkable jellies, strips, and bars. These snacks are treated as convenience food items with ample nutrition and taste. Apart from these benefits, they can be conveniently stored and have longer shelf life. With the growing consumer inclination toward fresh and minimally processed convenience products the demand for fruit snacks is expected to rise in the US.
Impact Assessment of COVID-19
The COVID-19 outbreak has been affecting economies and industries in various countries, including the US, India, Brazil, Russia, Italy, the UK, China, Iran, and Spain. Food &beverages is one the world’s major industries facing serious disruptions in the form of supply chain breaks, events cancellations, and office shutdowns as a result of the lockdown imposed in various countries to contain the spread of COVID-19. Although, China is the global manufacturing hub and the largest raw material supplier for various industries, it is one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various food & beverage industries. These factors are likely to restrain the growth of various markets related to the food & beverage industry in next few financial quarters.
The major players operating in the US market are Mount Franklin Foods, LLC; Materne North America Corp.; and Crispy Green Inc.; among others. The companies have been involved in implementing various strategies, such as product launch and other crucial business and planning strategies that have helped the growth of the company, which, in turn, have brought about various changes in the market. The market players are striving to acquire a huge customer base by expanding their presence in the US. For instance, in 2019, Crispy Green Inc. announced new flavor launch, which is nothing but all strawberry-no added sugar, clean single ingredient, Non-GMO, and under 60 calories per serving.
Bare Foods Co., Crispy Green Inc., Crispy Green Inc., Kellogg Company, Mount Franklin Foods, LLC, Nutty Goodness, LLC, Paradise, Inc., Sunkist Growers Inc. Welch Foods Inc., Materne North America Corp. are among the major market players operating in the US fruit snacks market.
The overall US fruit snacks market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the US fruit snacks market.
Reasons to Buy
- Highlights key business priorities to assist companies realign their business strategies.
- Features key findings and crucial progressive industry trends in the US fruit snacks market, thereby allowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well as key market drivers and restraints.
- Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
Table of Contents
1. Introduction
3. Research Methodology
4. Fruit Snacks Market Landscape
5. Fruit Snacks Market - Key Industry Dynamics
6. Fruit Snacks- United States Market Analysis
7. US Fruit Snacks Market Analysis - By Type
8. Fruit Snacks Market Analysis - By Fruit Family
9. US Fruit Snacks Market Analysis - By Distribution Channel
10. Overview- Impact of COVID-19
11. Company Profiles
12. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Bare Foods Co
- Crispy Green Inc.
- General Mills Inc.
- Kellogg Company
- Mount Franklin Foods, LLC
- Nutty Goodness, LLC
- Paradise, Inc.
- Sunkist Growers Inc.
- Welch Foods Inc.
- Materne North America Corp.
