With increasing prevalence of obesity worldwide, finding and adapting to healthy diets have become a major factor influencing the buying behavior of consumers nowadays. Organic fruit snacks in the form of dairy products like Greek yogurt rich in high-protein, fruit and blended cottage cheese snack, along with no-bake yogurt fruit snack are frequently becoming popular among people. Owing to its nutrient-rich features and easy availability in supermarkets and online stores, there is a surge in purchase of these snacks. Reportedly, online retailers distribution channel segment in fruit snacks market is anticipated to register a CAGR of more than 9% over 2019-2025 with regard to annual revenues.
Several food manufacturers are enhancing and expanding their business landscape, engaging in partnerships and developing innovative flavors to gather audience and boost their online presence. An ideal example involves a recent acquisition of Kellogg Company’s cookies and fruit snacks business. In April 2019, the Ferrero Group had unveiled a definitive agreement in which it would formally buy the fruit-flavored snack, cookie, pie crust, and ice cream cone businesses from Kellogg Company for a total of US$1.3 billion. Similar acquisitions worldwide to meet the evolving product demand across several geographies will contribute substantially towards the expansion of fruit snacks industry.
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Augmented consumption of flavor rich and functional snacks will have a notable impact on the overall growth of the packaged food sector. Numerous advantages as well as rising participation of regional contenders in promoting natural ingredient-based, healthy, and appetizing product range for customers with specific diet demands will fuel the development of fruit snacks industry.
Key players constituting the industry’s competitive hierarchy including Welch, Kellogg, Sunkist Growers, Bare Foods, SunOpta, Crunchies Natural Food, General Mills and Flapper. Global Market Insights, Inc. has estimated that fruit snacks market size will exceed US$8 billion in valuation by 2025.
List of Top Key players operating in the global market: Sunkist Growers, SunOpta, General Mills, Welch's, Kellogg, Bare Foods, Crunchies Natural Food, Crispy Green, Flaper, Mount Franklin Foods, Nutty Godness, Paradise, Whitewave Services, Tropical Foods.
The Fruit snacks market report provides the shares, size, revenue, and growth of each segment. The research report demonstrates the segment-wise study of the industry through market statistics and evolving dynamics.
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Finally, the Fruit snacks market report offers an in-depth study of the Fruit snacks market by using numerous analytical tools and models such as investment return analysis, SWOT analysis, PESTEL Analysis and porter’s five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except this, our expert analyst will provide customization as per specific demands. Our reports have been tracking the impact of COVID-19 on the market.
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