Dried Fruit Market

Dried Fruit Market is projected to grow at a CAGR of 6.8% in the forecast period (2023-2032), with the market size valued at USD 7.1 billion in 2022 and projected to reach USD 13.7 billion by 2032.

Product Overview

Dried fruits have gained popularity as a versatile and healthy snacking option in the market. They provide a wide range of flavors and textures that appeal to different consumer preferences. Dried fruits often offer a combination of sweetness and natural fruit flavors, making them ideal for snacking or adding to various dishes. The packaging is designed to maintain freshness, often with resealable options, ensuring a longer shelf life.

Market Highlights

Dried Fruit Market is expected to exhibit a CAGR of 6.8% during the forecast period, 2022-2032

Dried Fruit Market is anticipated to reach USD 13.7 billion, growing at a CAGR of 6.8% during the forecast period owing to the rising popularity of nutritious and versatile dried fruits among health-conscious consumers. Dried fruits have emerged as a popular choice due to their convenience, extended shelf life, and retention of essential nutrients, making them appealing to those looking for healthy snack alternatives. The market is witnessing a trend towards reduced sugar and additive-free products to meet the increasing demand for healthier options.

Source: Fatpos Global

Dried Fruit Market Segmentation

Raisin Segment to Dominate Due to its Health Benefits and Availability

By Type, the Dried Fruit Market is typically segmented into Apricots, Dates, Raisin, Figs, Berries, and Others. Raisins, also known as dried grapes, have become a staple choice in various healthy snacks, cementing their status as one of the most favored dried fruits. Additionally, the recognition of potential health benefits associated with raisins, such as their role in promoting eye health and enhancing bone mineral density, adds to the appeal of dried fruits, aligning with evolving consumer dietary and wellness preferences.

Bakery Segment to Expand Due to Growing Demand for Healthy Alternatives

Based on the Application, the market is divided into Confectioneries, Dairy Products, Bakery Products, Snacks & Bars, and Others. The use of dried fruits in the bakery sector has seen a notable increase, primarily due to the growing demand for healthier baked goods such as gluten-free, vegan, and fiber-rich cakes and muffins. Dried grapes, dates, dried apricots, and dried figs are now integral ingredients in pastries, and this trend is expected to continue expanding. Particularly, dried grapes and dates are commonly employed in baked goods as natural sweeteners, replacing cane sugar The growing demand for naturally derived foods is expected to fuel market expansion in the forecasted period.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Increasing Consumer Preference for Clean Label Products to Drive Dried Fruit Sales

Increased consumer awareness regarding the adverse effects of added colors and flavors has led to a shift toward healthier dietary choices. The concept of "clean labels" or easily understandable product information has gained popularity, allowing consumers to make informed choices and feel more in control of their well-being. This heightened demand for clean label products stems from consumers seeking foods free of artificial additives and preservatives. Customers are now examining ingredient lists on packaging more attentively, showing a growing preference for clean-label items. This shift in consumer behavior, which was previously uncommon, has resulted in a surge in the demand for preserved fruits that undergo little to no processing.

Distribution Channel Expansion Will Provide Market Growth Opportunities for Dried Fruit Product Manufacturers

Dried fruit products market displays considerable fragmentation, requiring manufacturers to explore efficient ways to engage with a diverse consumer audience. In response, dried fruit producers are entering into new sales channels, thereby enhancing the availability of dried fruit products from various brands. The industry's declared fragmentation, combined with the current lack of brand recognition and limited consumer loyalty, is emerging as a key driver for the increasing retail sales of dried fruits to augment nutritional content in meals. Internet-based sales are thriving due to easy product accessibility, convenient purchasing processes, and a broader range of choices from various brands. This, in turn, is expected to generate more sales opportunities for manufacturers targeting health-conscious consumers.

Restraints

High Cost of Dehydrated Fruits Will Somewhat Restrain Market Growth

Perishable nature of fruits requires a heavy reliance on imports for dried fruits, resulting in added costs such as import duties, shipping costs, customs fees, and logistical expenses, thereby driving up prices. Additionally, the naturally denser nature of dried fruits contributes to increased production costs. The freeze-drying process, while effective, further adds to the final product's price. Collectively, these factors position dried fruits on the higher end of the pricing scale, which could potentially affect their sales. The use of dried fruits may be discouraged due to worries about possible adulteration during processing and the nutritional content being lost in comparison to fresh fruits.

Recent Developments

• In February 2022, the Uzbek Export Promotion Agency and major horticultural exporters from the country attended the yearly World Ag Expo in Tulare, California, thanks to financing provided by USAID. All three businesses engaged in negotiations with American importers following the Expo.
• Redsun Dried Fruit and Nuts is a distributor and processor of raisins located in South Africa. In April 2022, Norfund, a Norwegian Investment Fund for Developing Countries, announced that it will be investing USD 8 million in the company. One Thousand and One Voices (1K1V) firm Redsun has added new facilities to its activities.

Dried Fruit Market

Key Players Covered:

• Sun-Maid
• Ocean Spray
• Traina Foods
• Graceland Fruit
• Bergin Fruit and Nut Company
• Paradise Fruits Solutions
• Dole Food Company
• National Raisin Company
• John B. Sanfilippo & Son (Fisher Nuts)
• Sunsweet Growers
• Royal Nut Company
• Mariani Packing Co.
• Gourmet Nut
• Nutty & Fruity
• Payson Fruit Growers
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Dried Fruit Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Europe was a significant player in the dried fruit market, while Asia Pacific is emerging as a key growth region. In Europe, countries like Germany, Netherlands, France, and the U.K. were notable markets. The growth in this region is propelled by the increasing consumer preference for low-sugar, natural, and health-conscious food options.

 Source: Fatpos Global

Impact of Covid-19 on Dried Fruit Market

The outbreak of the coronavirus had a substantial impact on the fruits and vegetables market. In response to the closure of bars, restaurants, and schools, fruit producers and distributors had to make a complete shift from foodservice to the retail channel. While this transition posed challenges related to labor and logistics, the fresh supply chain remained strong. Consumers altered their purchasing patterns, favoring online retail as immigrant labor markets faced limitations, and a preference for longer-lasting fruits increased. The supply chain experienced issues ranging from worker safety to logistical constraints, seasonal labor shortages, and disruptions. However, the majority of processing plants managed to stay operational.

Conversely, the preserved fruits and vegetables sector, including dried fruits, played a vital role in meeting the rising consumer demand for safe, healthy, and long-lasting products. Nevertheless, strict adherence to COVID-19 hygiene measures resulted in increased production costs. These developments demonstrate the fruit industry's flexibility and resilience in the face of unprecedented challenges.

Dried Fruit Market is further segmented by region into

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Dried Fruit Market Scope and Segments:

Frequently Asked Questions (FAQ):