As per a TMR report, the global dried fruits market is projected to rise at a healthy CAGR of 5.9% from 2018 to 2026. The business analyst noted the global dried fruits market to a valuation of US$7,255 in 2018.
Demand for Fried Fruits to Soar Owing to High Nutritional Value
The global dried fruits market is expected to expand in the coming years owing to the rising awareness of nutritional benefits of dried fruits. Dried fruits have a higher shelf life as compared to fresh fruits as they have lesser water content. This makes them easy to store and convenient to transport from one region to another. These benefits of dried over fresh fruits is expected to drive the global dried fruits market. Apart from this, dry fruits have a higher nutritional value. The growing inclination of people towards healthy food is another strong factor likely to propel the global dried fruits market. Moreover, dried fruits are increasingly used as a seasoning and flavoring agent in bakery and dairy products. This increases the demand of dry fruits in the food and beverages industry. This is likely to bolster growth of the global dried fruits market.
Despite several drivers, growth of the global dried fruits market may hamper owing to a few factors. Hypersensitivity of a few consumers towards certain dry fruits is one factor expected to restraint the growth of the global dried fruits market. Further, loss of a certain percentage of vitamins during dehydration process may hamper the market of dried fruits over the forecast period. Furthermore, some dried fruits are traditionally observed as high sugar products. This limits the demand of dry fruits among obese and diabetic people. Nevertheless, increasing disposable income in emerging economies and rising inclination of people towards healthy are some factor likely to boost demand for fried fruit in the forecast period.
Growing Penetration of Online Distribution Channels to Help in Easy Availability
Key players in the global dried fruits market are turning towards the online channel to increase visibility and faster delivery of their product. The increasing penetration of online retail in the consumer’s life is expected to boost the global dried fruits market. Apart from this, advancements in modern retail, such as convenience stores, hypermarket and supermarket is resulting in increased product availability. This enables easier accessibility of dried fruits to consumers.
The global dried fruits market has a fragmented competitive landscape, says Transparency Market Research (TMR). This is because of the availability of several prominent players in the market. These players are competing to increase their market share by increasing their dominance in developing economies. Some of the prominent players operating in the global dried fruits market are Lion Raisins Inc., Dole Food Company, Inc., Bergin Fruit and Nut Company Inc., Traina Foods, Inc., Kiantama Oy, Sun-Maid Growers of California, Red River Foods Incorporated, and Sunbeam Foods Pty Ltd.
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