Dried Fruits Global Market Report 2024

The dried fruits market size has grown strongly in recent years. It will grow from $8.58 billion in 2023 to $9.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth observed in the historic period can be attributed to factors such as traditional consumption habits, food preservation practices, the impact of global trade and exploration, various culinary applications, and an increasing level of consumer awareness.

The dried fruits market size is expected to see strong growth in the next few years. It will grow to $13.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the forecast period can be attributed to health and wellness trends, innovations in packaging and distribution, changing dietary preferences, effective marketing and consumer education, and the fusion of cultural influences in cuisine. Major trends expected in this period include the incorporation of technology in drying processes, a focus on clean label and natural ingredients, innovation in flavor profiles, the convenience of snacking, and the continued momentum of the plant-based and vegan movement.

The increasing population of health-conscious consumers is expected to drive the growth of the dried fruits market in the coming years. A trend towards healthy eating has become widespread, with consumers seeking foods and beverages that align with evolving health, wellness, ethical, and sustainability preferences. Dried fruits, being a rich source of protein, vitamins, minerals, and dietary fiber, are considered a nutritious alternative to high-calorie snacks. For instance, according to a survey commissioned by biotechnology startup Gelesis in January 2021, 60% of Americans expressed a desire to feel healthier, and 51% aimed to reduce weight by adopting dietary practices that include an increased consumption of plant-based foods. This shift in consumer preferences towards healthier eating habits contributes to the growing demand for dried fruits in the market. As more individuals prioritize health and wellness in their dietary choices, the dried fruits market is poised to experience sustained growth.

The increasing demand for organic food is expected to drive the growth of the dried fruits market. Organic food refers to agricultural products that are grown and produced using organic farming methods, which prioritize sustainable and environmentally friendly practices. Dried fruits, as a part of the organic food category, offer consumers a convenient, nutritious, and environmentally friendly snacking option that aligns with their values and preferences for clean, sustainable, and ethically produced food. For example, in June 2022, according to the Organic Trade Association, a U.S.-based business association, organic sales experienced significant growth, reaching over $63 billion in 2021. Food sales contributed to over 90% of this total, exceeding $57.5 billion with a 2% growth rate, while non-food sales increased to $6 billion, marking a 7% rise. This surge in organic food sales reflects a growing consumer preference for organic products, including dried fruits, and contributes to the overall expansion of the dried fruits market. As more consumers prioritize organic and sustainably produced food options, the dried fruits market is anticipated to see continued growth.

The introduction of new flavored dried fruits has emerged as a key trend in the dried fruits market. Major players in the dried fruits sector are actively focused on launching new flavored dried fruits to strengthen their market positions. As an example, in March 2021, Ocean Spray Cranberries, Inc., a U.S.-based American agricultural cooperative, introduced the Ocean Spray Fruit Medley. This new dried fruit line features delectable craisins combinations and is crafted with premium, high-quality ingredients. Importantly, the product is free from artificial colors, flavors, or preservatives. The Ocean Spray Fruit Medley is available in three distinct variations, offering immunity, fiber, and probiotic benefits to consumers. This trend reflects the industry's commitment to innovation and meeting consumer preferences for unique and flavorful dried fruit options.

Major companies in the dried fruits market are actively developing new products by incorporating pasteurization technology to enhance their profitability. Pasteurization of dried fruits is a process designed to reduce microbial contamination and extend the shelf life of the fruits. An example of this trend is seen in the actions of VKC Nuts, an India-based dried fruits and nuts company, which launched Bactopure through its Nutraj brand in May 2022. Bactopure is positioned as India's pioneer in introducing a distinctive line of pasteurized nuts and dried fruits, setting a new standard for quality that rivals global counterparts. Distinguished by their pasteurization process, Bactopure products guarantee the absence of bacteria and pathogens, aligning with stringent international benchmarks for hygiene and purity. By prioritizing consumer health, Bactopure's range of pasteurized nuts and dried fruits is meticulously crafted to deliver optimal quality, contributing to long-term well-being and vitality. This adoption of pasteurization technology reflects the industry's commitment to ensuring the safety and quality of dried fruits for consumers.

In April 2021, Hyle Capital Partners, an Italian-based private equity firm, successfully acquired a majority stake in Manuzzi for an undisclosed sum. This strategic acquisition is poised to expedite Manuzzi's growth trajectory and reinforce its market standing, particularly within the prominent retail chains in Italy. Manuzzi, based in Italy, specializes in the production of dried fruit and nuts.

Major companies operating in the dried fruits market report are Archer Daniels Midland Company, Dole Food Company Inc., Angas Park Fruits Pty. Ltd., Chiquita Brands International Inc., Ocean Spray Cranberries Inc., Sun-Maid Growers of California, Sunsweet Growers Inc., Traina Foods Inc., Diamond Foods Inc., Döhler Group SE, Mariani Packing Company, AGRANA Beteiligungs- AG, Tulsi Nuts and Dryfruits, AL FOAH International F.Z.C., Sunbeam Foods Group Ltd., Bergin Fruit and Nut Company, Lion Raisins Inc., National Raisin Company, Arimex Ltd., Kanegrade Ltd., Stahmann Farms Inc., European Freeze Dry Ltd., Royal Nut Company, Murray River Organics Growers Co-operative Ltd., Freeze-Dry Foods Ltd., Paradise Fruits, Kiantama Oy, Valley Harvest Nut Company, Geobres S.p.A., Harmony House Foods Inc.

Asia-Pacific was the largest region in the dried fruits market in 2023. North America was the second-largest region in the dried fruits market during the forecast period. The regions covered in the dried fruits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the dried fruits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Dried fruits come in various types, such as apricots, dates, raisins, figs, berries, and more. Apricots, also known as Armenian plums, belong to the category of stone fruits. Dried apricots are known for enhancing bone mineral density and promoting eye health. These fruits are available in different categories, including conventional and organic, and are used in a variety of products such as confectioneries, dairy items, bakery products, snacks and bars, desserts, cereals, and more.

The dried fruits market research report is one of a series of new reports that provides dried fruits market statistics, including dried fruits industry global market size, regional shares, competitors with a dried fruits market share, detailed dried fruits market segments, market trends and opportunities, and any further data you may need to thrive in the dried fruits industry. This dried fruits market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The dried fruits market consists of sales of dried grapes, dried olives, dried prunes, and other dried fruits. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.