With reference to
the latest market forecast report published by Transparency Market Research, on
the title 'Dried fruits Market: Global Industry Analysis and Opportunity
Assessment 2018-2026', revenue generated from the global dried fruits market
has been estimated to be valued around US$ 7,255.4 Mn in 2018, which is
projected to increase at a CAGR of 5.9% during the forecast period (2018-2026).
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Driving factors
such as the increasing demand for vitamin and mineral rich foods, consumer
preference for healthy snack, and growing health consciousness contribute to
the emerging growth of the dried fruits market. Dried fruits are highly
consumed in the Asia Pacific region, expected to contribute for around 41.3%
share during the forecast period, owing to the highest processing and
consumption of dried fruits in confectionaries and baked goods in the region.
Increased market penetration in developing and developed economies makes the
dried fruits market a highly competitive one, thereby resulting in consistent
launch and expansion of products by the key market players of dried fruits. Players
in the market such as Dole Food Company, Inc. and JAB Dried Fruit Products
(Pty) Ltd are well-known for their premium quality of dried fruits. These
companies spend appreciably on promoting their brands online as well as other
distribution channels, and hence, have wide visibility and premium product
placement on retail shelves. Thus, consumers show more interest in buying
branded dried fruits as a sign of premium quality.
As a developing
economy with an increased number of food processing industries, Asia Pacific
has the highest market share of dried
fruits market as compared to other regions, due to the highest consumption
of dried fruits in various food products including fiber-rich breakfast flakes,
baked goods, and others. Factors such as favorable government policies on
natural food additives, and inclining application of dried fruits in
confectionaries and desserts. It is anticipated that the Asia Pacific region
would witness a high growth rate of the dried fruits market 7.4% growth during
the forecast period.
The growing
consumer health consciousness regarding natural food products over the years
has been a major driver that has fuelled the demand for dried fruits market.
Organic dried fruits are expected to have a high preference as compared to
conventional dried fruits during the forecast. By nature segment, the organic
dried fruits segment is anticipated to witness the highest compound annual
growth rate of 6.1% during the forecast period. However, the organic dried
fruits segment has a minimal market share at present, due to the market being
huge for conventional dried fruits at affordable prices.
There is an
increased demand for dried fruits from various bakery and confectionary
industries, in order to enhance the flavor as well as seasoning of the
products. The increasing demand for dried fruits from the dairy industry has
also boosted the demand in the global dried fruits market.
This TMR report
comprises of the current trends driving each market segment, and offers
detailed analysis and insights into the potential growth of the global dried
fruits market. The final section of the report includes a competitive landscape
of various market players of global dried fruits, to provide an audience view
with a comprehensive and comparative dashboard. Prominent players covered in
the report are the present dynamic manufacturers of the dried fruits market.
Elaborated view of the manufacturers are also added in the scope of the report
to examine their short-term and long-term strategies, key offerings, and recent
developments in the dried fruits market.
TMR has profiled
the most prominent companies which are active in the global dried fruits
market, such as Dole Food Company, Inc., Bergin Fruit and Nut Company Inc.,
Lion Raisins Inc., Kiantama Oy, Sun-Maid Growers of California, Traina Foods,
Inc., Sunbeam Foods Pty Ltd., Red River Foods Incorporated, N. POLYCHRONIADIS
& SIA O.E., Jiangsu Palarich Food Co., Ltd. and others.
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