Rising Trend of On-the-Go Snacking to Position Dried Fruit Extracts Market at US$ 15.8 Billion by 2032
Growing Fad for Organic and Natural Food Products to Boost Organic Dried Fruit Extracts Sales
Fact.MR's latest report provides a thorough analysis of dried fruit extracts market dynamics along with the emerging trends and opportunities through 2022 & beyond. The report further explicates the drivers and restraints affecting the growth across leading segments including nature, form, end user, distribution channel, and region.
NEW YORK, Aug. 3, 2022 /PRNewswire/ -- The global dried fruit extracts market size is anticipated to grow from US$ 8.9 billion in 2022 to US$ 15.8 billion by 2032, accelerating at a CAGR of 5.9% over the forecast period (2022-2032). Rising demand for dried fruits extracts in industries like food, cosmetics and pharmaceuticals is a major factor driving growth in the global market.
Dried fruit extracts are products obtained from fruit juices and purees by using various drying methods or drying technologies. These dried fruit extracts are rich in nutrients and thus offer various health benefits including antioxidant, anti-inflammatory, antitumor, and antidiabetic.
Thus, rising health awareness among consumers about the various health benefits of dried fruit extracts along with growing demand for nutrition rich diets will continue to augment growth in the global dried fruit extracts market during the forecast period.
Similarly, rising trend of on-the-go snacking, growing popularity of organic products, and excellent flavoring and coloring properties of dried fruit extracts are likely to act as catalysts for the growth of dried fruit extracts market during the forecast period.
Another factor pushing demand for dried fruit extracts is the growing usage in cosmetic and pharmaceutical products.
Dried fruits extracts are known to promote the growth of newer and healthier cells, protect against UV radiation, reduce allergy, and cleanse, condition, and nourish hair. As a result, they are being increasingly used in cosmetics and personal care products.
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Regionally, North America and Europe will collectively account for nearly 46% share in the global dried fruit extracts market in 2022. Growth in these markets is driven by rising preference for packaged and processed foods, availability of advanced drying technologies, and growing consumer awareness about the health benefits of dried fruit extracts.
Key Takeaways:
- By nature, demand for organic dried fruits extracts is likely to grow at a healthy pace during the forecast period
- Based on end use, the food segment holds the largest revenue share of the global dried fruit extracts market and the trend is likely to continue during the assessment period.
- Currently, Europe dominates the global dried fruit extracts market, accounting for the largest share of 24.1%.
- North America holds around 21.2% share of the global dried fruit extracts market.
- Dried fruits extracts market in Asia Pacific is estimated to grow at the fastest rate over the forecast period.
Growth Drivers:
- Growing preference for nutrition-rich diets will continue to push the demand for dried fruit extracts.
- Various benefits of dried fruit extracts including increased shelf life and easy storage are likely to boost sales during the forecast period.
- Rising trend of on-the-go snacking will further accelerate the growth in dried fruits market during the forthcoming decade.
Restraints:
- High cost associated with dried fruits extracts is limiting market growth to some extent.
Competitive Landscape:
Leading dried fruit extracts manufacturers are continuously adopting strategies such as new product launches with innovative flavors, mergers, partnerships, collaborations, and strengthening of distribution channels to improve their market share as well as to expand their presence.
For instance,
- In 2020, Universal Corporation signed a definite agreement to acquire Silva International, the US-based specialty dehydrates fruit, vegetable, and herb processing company through a US$ 170 Mn deal.
- Recently, Traina, a dried fruits company based in the U.S. introduced two new varieties for the summer, namely, Natural Cherry and the Summer Blend.
Key Companies Profiled by Fact.MR
- Kanegrade
- Weedsies
- Döhler
- Monik Fruit Group
- Archer Daniels Midland
- Graceland Fruit
- Sweet Dried Fruit
- Nikken Foods
- Van Drunen Farms
- Plant lipids
- Vigon International
- Ingredients Online
- Wego Chemical Group
- Jedwards International
- Zilka & Co.
- Aldon Corporations
More Valuable Insights on Dried Fruit Extracts Market
In the latest study, Fact.MR offers a 360-degree view of the global dried fruit extracts market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the dried fruit extracts market through detailed segmentation as follows:
- Conventional Dried Fruit Extracts
- Organic Dried Fruit Extracts
- Powder Dried Fruit Extracts
- Liquid Dried Fruit Extracts
- Food
- Cosmetics
- Pharmaceuticals
- Household
- Direct
- Indirect
- Supermarkets
- Online Retails
- Departmental Stores
- Convenience Stores
- Specialty Stores
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the Dried Fruit Extracts Market Report
- What will be the demand outlook of the dried fruit extracts market in 2022?
- What is the projected growth rate of the global dried fruit extracts market during 2022-2032?
- Which are the key drivers bolstering growth in the dried fruit extracts market?
- Which factors are hindering the growth in the dried fruit extracts market?
- Which region is expected to exhibit the fastest growth in the global dried fruit extracts market during 2022-2032?
Explore Fact.MR's Coverage on the Food & Beverage Domain
Fruit Snacks Market: The global fruit snacks market is slated to expand at an impressive 8.5% CAGR during the assessment period (2019-2027). Overall sales in the market are expected to reach US$ 9 Billion by the end of 2027 amid growing consumption of healthy snacks such as fruits among millennials.
Dried Apple Peel Market: As per Fact.MR, demand for dried apple peel is projected to grow at a steady pace during the forecast period owing to the extensive applications of dried apple peel in industries like food & beverages, pharmaceutical and nutraceutical. Similarly, growing awareness about the health benefits of dried apple peel will boost market growth in future.
Dried Spices Market: Global sales of dried spices are slated to grow at a CAGR of 4.6% between 2021 and 2031, totaling around 8.6 Billion by 2031. Growth in the market is driven by rapid expansion of food and beverage industry, growing usage of dried spices to improve aroma and taste of foods, and rising awareness about the medicinal benefits of dried spices.
Dried Egg Market: This demand growth has helped increase dried egg production as well. The North America dried egg market accounts for more than 30% of worldwide production, while the market East Asia is predicted to expand at the highest CAGR of 11.2%.
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