The global frozen fruit bar market size is expected to reach USD 18.43 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.5% during the forecast period. Rising demand for innovative flavors coupled with the tendency of impulse buying among consumers is expected to drive the growth.
Asia Pacific is expected to witness the fastest growth in near future, owing to supportive government policies and growing population. North America is estimated to hold the maximum market shares of approximately USD 4.42 million by 2025. As a result of growing demand for tropical fruits in U.S. and European countries, many large scale manufacturers are getting into the market, especially in developed regions like Europe and U.S., among others.
Frozen fruit bars are available in various flavors. The circus flavor is projected to hold the maximum market share of approximately USD 2.32 million by 2025. Availability of variety of flavors and rising consumption of frozen fruit bars as snack are some of the major market drivers.
Manufacturers are introducing innovative new products by including exotic organic flavors, functional ingredients, and herbal fillings, in product formulations to meet the consumer demand. For instance, companies are making other exotic flavors such as lemons, coconuts, and tropical fruits to bring variety. Companies are making low-fat and low-calorie bars to cater to high demand from health-conscious consumers, which is expected to further drive the product demand.
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Further key findings from the report suggest:
- Asia Pacific is expected to expand at a CAGR of 11.5% over the forecast period, due to the growing demand for organic and health fruit products
- India held 36.26% of the overall Asia Pacific frozen fruit bars market in 2018 on account of high demand for different tropical fruits
- The low fat product segment is expected to witness the fastest growth owing to the growing demand for low calorie products
- Manufacturers are aiming to achieve optimum business growth by implementing strategies such as acquisitions, joint ventures, capacity expansions, new product developments, promotion of key product brands, and significant investments in R&D
Grand View Research has segmented the global frozen fruit bar market on the basis of product, flavors, and regions:
Frozen Fruit Bar Product Outlook (Revenue, USD Thousands, 2015 - 2025)
- Low Fat
Frozen Fruit Bar Flavors Outlook (Revenue, USD Thousands, 2015 - 2025)
Frozen Fruit Bar Regional Outlook (Revenue, USD Thousands, 2015 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.