Dry Fruits Industry Study Size, Share & Forecast, 2032
Market Overview:
The global dry
fruits market was valued at USD 6.71 billion in 2023 and is
expected to grow from USD 6.96 billion in 2024 to USD 10.41 billion
by 2032, reflecting a CAGR of 5.16% over the forecast period
(2024–2032).
In 2023, Europe led the global market, holding a 28.32%
share. Meanwhile, the U.S. dry fruits market is projected to experience
notable growth, reaching an estimated USD 1.12 billion by 2032. This
upward trend is largely driven by the rising popularity of better-for-you products,
which has significantly increased the use of dried fruits across various food
categories in the region.
LIST OF KEY COMPANIES PROFILED
- Manassen Foods Australia Pty Ltd. (New
South Wales, Australia)
- Olam International Limited (Singapore)
- Ocean Spray Cranberries, Inc.
(Massachusetts, U.S.)
- Bergin Fruit and Nut Company, Inc.
(Minnesota, U.S.)
- Sunsweet Growers, Inc. (California,
U.S.)
- National Raisin Company (California,
U.S.)
- Sun-Maid Growers of California (California,
U.S.)
- Angus Park Fruit Company Pty Ltd (North
SA, Australia)
- Graceland Fruit, Inc. (Michigan,
U.S.)
- Murray River Organics (Victoria,
Australia)
Source: https://www.fortunebusinessinsights.com/industry-reports/dry-fruits-market-100544
Market Segments:
The global market is classified by type into table dates,
dried grapes, dried figs, dried apricots, prunes, and dried cranberries. Dried
grapes are expected to hold the largest share during the forecast period due to
their extensive variety of healthy snacks. They are also a great value in the
international food service industry due to their utilization in a range of
bakery products and desserts.
Based on application, the market is divided into the bakery,
confectioneries, breakfast cereal, snacks, and others. The bakery segment is
expected to hold the lion’s share during the forecast period. The growth is
attributed to the high demand for healthy baked goods such as gluten-free,
vegan, and fiber-rich cakes and muffins
Based on geography, the market is categorized into North
America, Asia Pacific, the Middle East and Africa, and Latin America.
The report on the fruit market involves:
- Through
analysis of all the sections in the market
- Informative
data and figures
- Market
trends and drivers
- Meticulous
information about prominent companies
- Key
development
- COVID-19
impact
Driving Factor:
Surging Demand for Organic Snacking Options to Encourage
Growth
The increasing popularity of natural and minimally processed
organic food products is expected to foster the market's healthy growth. The
excessive demand for small-sized mixed dried fruit packs, snack bars, and
breakfast bars infused with whole or minimally processed dried fruits will
accelerate the growth of the dry fruit industry. Moreover, the surging sales of
breakfast cereals like muesli and granola that utilize organic dried fruits as
key ingredients will further spur opportunities for the market. The increasing
knowledge about the nutritional benefits of clean-label and organic dried fruit
will incite the dry fruit market's development. Besides, the increasing focus
for improved food safety and quality control through refined technologies such
as freeze-drying will bode well for the market. Hence, the need for
freeze-dried fruits to produce breakfast cereal and bakery items can
significantly foster market development.
Regional Insights:
Rising Demand for Confectionery and Snacks to Aid Market
in Europe
Asia Pacific is expected to hold a significant share during
the forecast period due to consumers' increased discretionary income levels.
The increasing spending capacity of consumers will further benefit the dry
fruit market in the forthcoming years. Moreover, the growing awareness
regarding the health benefits of dried fruits will aid the expansion of the
market in China, India, and Vietnam. Europe is expected to hold the lion’s
share during the forecast period due to the growing demand for dried grapes,
table dates, and dried apricots in European countries. North America is
expected to expand gradually in the forthcoming years due to the need for
healthy baked goods, confectionery, and snacks in the region. The Middle East
and Africa is expected to rise exponentially during the forecast period due to
the growing production of dried fruits in Saudi Arabia and Iran.
KEY INDUSTRY DEVELOPMENTS
December 2020- Great Value Foods LLP owned brand ORCO launched a range of organic dry
fruits free from any impurity and artificial colors.
February 2018 – Peyman Kuruyemis, a Turkish producer of dried fruits, nuts, and seeds has
expanded its production capacity by building a new production facility for
dried fruits.
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