Pune, India -- (SBWIRE) -- 10/19/2017 -- Market Overview

Increasing popularity of diets rich in fruits nutrition is positively impacting the dried fruits market. Fruits are rich in antioxidants and fibers. However, due to its short life usage, the market for processed fruits have gained acceptance in the growing work population. Dried fruits are used in different product lines to add various flavors and nutrition to the product. Additionally, the increased consumption of packaged food has boosted the market of dried fruits. Consumption of dried fruits is projected to be dominating in bakery products followed by confectionary products. However, increased population of health-conscious consumers has opened the doors for breakfast cereal industry to grow during the forecast period 2017-2023.

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Market Forecast

Dried fruits are expected to grow their popularity as a nutritionally rich alternative to fresh fruits. Rising health issues such as diabetes, allergies, and high blood pressure among aging population is the major driving factor of the global dried fruit market. Increased acceptance of dried fruits as a source of healthy food has increased its application scope for many food manufacturers. However, the loss of vitamins during the dehydration process of fresh fruits is likely to hamper the market growth over the review period.

All these factors will contribute to the estimated CAGR of 4.2% of dried fruit market during the forecast period 2017-2023.

Downstream Analysis

In the category of the type of dried fruit, dried grape is dominating the market having an advantage to cure rising health issues among the aging population. The dietary fiber in dried grapes affect the bio-chemistry of blood vessels and reduce their stiffness as well as it reduces the hypertension, which is a growing concern among rising population.

On the basis of application, the bakery products are dominating the market followed by confectionary products. However, increasing awareness about healthy diet among the consumers is likely to boost the applications of dried fruits in breakfast cereal rapidly.

 Additionally, on the basis of distribution, the store based distribution channel is observing higher growth owing to convenience shopping experience.

Competitive Analysis

The major key players in the Dried Fruit Market

- Ocean Spray Cranberries Inc (U.S.)
- Sunbeam foods Pty ltd (Australia)
- Olam International (Singapore)
- Arimex Ltd (Lithuania)
- National Raisin Company (U.S.)
- Sun-Maid (U.S.)
- Sunsweet (U.S.)

Innovation in product packaging and distinct health benefits through product awareness campaign initiated by the manufacturers and shift towards plant based eating pattern have boosted the market demand for dried fruits. This is backed up by the rising disposable income and shifting consumption pattern among the consumers.

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Regional Analysis

The global dried fruit market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific holds the major share of the global market followed by North America and Europe. The growing disposable income, increasing health consciousness, and trending healthy snacking habits are driving the growth of these region. In Asia Pacific, India is dominating the market. Furthermore, the U.K. is estimated to be one of the largest importers of dried fruits in Europe, which makes it an opportunistic market.

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