Dry Fruits Market
Dry Fruits Market - Global Industry Assessment & Forecast
- By Type Table Dates, Dried Grapes, Dried Figs, Dried Apricots, Prunes Dried, Cranberries
- By Application Bakery, Confectioneries, Breakfast Cereal, Snacks, Others
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 6.2 Billion|
|Revenue 2028:||USD 7.7 Billion|
|Revenue CAGR (2022 - 2028):||3.9%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||Europe|
- Cross-segment Market Size and Analysis for Mentioned Segments
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- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
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The Global Dry Fruits Market is valued at USD 6.2 Billion in the year 2021 and is expected to reach a value of USD 7.7 Billion by the year 2028. The Global Market is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 3.9% over the forecast period.
In the approaching years, the Dry Fruits industry is predicted to rise due to an increasing number of healthy customers. Healthy eating has become the norm, with the majority of customers expecting foods and beverages to match more complex health, wellness, and sustainability requirements. Dry Fruits are high in protein, vitamins, minerals, and dietary fiber, and are a healthy substitute for high-calorie snacks. The market for dried fruits is rising due to a growing number of healthy customers.
Dry Fruits Market Size, 2021 To 2028 (USD Billion)
The Dry Fruits Market is made up of dried fruit sales. The revenue generated by enterprises engaged in the manufacture of dried fruits makes up the market. Dried fruit is fruit that has been dehydrated or dried to concentrate the flavor or sweetness while also extending the shelf life. The majority of the water content in dried fruits is removed, either naturally through sun drying or artificially through the use of specialized dryers or dehydrators.
The market for Dry Fruits is being driven by changing customer preferences for healthy and nutritious foods as a result of rising obesity and an ageing population. Furthermore, rising demand for dried fruit has been spurred by increased acceptance of healthful packaged foods and widespread use of dried fruit in the dairy, bakery, snack, and confectionery industries.
The Vegan Food market is segmented on the basis of Type and Application. On the basis of type, the market is segmented into Table Dates, Dried Grapes, Dried Figs, Dried Apricots, Prunes Dried and Cranberries. On the basis of Application, the market is segmented into Bakery, Confectioneries, Breakfast Cereal, Snacks and Others.
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Based on Type
Due to their widespread use in a variety of healthy snacks, dried grapes are one of the most popular dried nuts and fruits, with the largest market share in 2021. A growing interest in healthy snacking and imaginative baking and confectionary goods that employ table dates as a sugar replacement is also driving demand for table dates. Moreover, dried apricots are used to promote eye health and boost bone mineral density.
Based on Application
The baking sector uses Dry Fruits in a variety of ways. The use of dried fruits in the bakery sector has expanded as the demand for healthy baked goods such as gluten-free, vegan, and fiber-rich cakes and muffins has grown. As the use of dried grapes, dates, dried apricots, and dried figs grows in the pastry business, this need is only projected to grow. Dried grapes and dates are commonly used in baked goods as a natural sweetener in place of cane sugar. Due to the expanding trend of organic and clean label bakery products, demand for organic dehydrated fruits is increasing across established countries in Europe, including the United Kingdom, Germany, and France. Snacks are the fastest-growing sector among the others, with the highest CAGR. The rapid growth can be attributed to the rise in popularity of healthy snacking to preserve overall health and wellness. Nutrition meals like cereal bars and morning cereals containing dehydrated fruits, as well as dry nut and fruit mix packages, are becoming increasingly popular among young adults. The rising popularity of clean-label and naturally derived foods is likely to drive market expansion throughout the forecast period.
Europe is Observed to be the Largest Share Holding Region in the Market
Along with a rising understanding of the demand for on-the-go nutrition and the positive health effects of functional meals. People in the United Kingdom, Germany, France, and Italy are consuming more nuts and dried fruits as they become more aware of the necessity of eating nutritious foods. Furthermore, the rising popularity of low-sugar, natural, and healthy foods has propelled the region's Dry Fruits industry's growth. Likewise, the market's expansion is aided by big firms' increased efforts in developing innovative dehydrated fruit product lines. For instance, Hyle Capital Partners, an Italian private equity firm, bought a majority stake in Manuzzi for an unknown sum in April 2021. This acquisition aids Manuzzi's expansion and strengthens its position among Italy's main retail companies. Manuzzi is a dried fruit and nut manufacturer situated in Italy.
Key players operating in the global Vegan Food market include – Manassen Foods Australia Pty Ltd. (New South Wales - Australia), Olam International Limited (Singapore), Ocean Spray Cranberries Inc. (Massachusetts - U.S.), Bergin Fruit 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 Private Ltd. (North SA - Australia), Graceland Fruit Inc. (Michigan - U.S.), Murray River Organics (Victoria - Australia) and others.
Segmentation of Global Dry Fruits Market:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
The global Dry Fruits valued at USD 6.2 Billion in 2020 and is expected to reach USD 7.7 Billion in 2028 growing at a CAGR of 3.9%.
The prominent players in the market are Manassen Foods Australia Pty Ltd. (New South Wales - Australia), Olam International Limited (Singapore), Ocean Spray Cranberries Inc. (Massachusetts - U.S.), Bergin Fruit 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 Private Ltd. (North SA - Australia), Graceland Fruit Inc. (Michigan - U.S.), Murray River Organics (Victoria - Australia).
The market is project to grow at a CAGR of 3.9% between 2021 and 2028.
The driving factors of the Dry Fruits include
- Growing middle class population
Europe was the leading regional segment of the Dry Fruits in 2020.