Transparency Market Research has published a new
report on the global dried fruits market. According to the research report, the dried
fruits market is expected to grow at rate of 5.9% CAGR for the period of 2018
to 2026. In 2018, the valuation of the global market was recorded at US$7,255.
The competitive landscape of the global dried
fruits market is a fragmented one because of the presence of numerous well
known and established players. The companies in the market are constantly
trying to bolster their product portfolio and scale up their brand position.
More importantly, these companies are trying to expand their geographical
territories as well. Some of the prominent brands in the global dried foods
market include names such as Sunbeam Foods Pty Ltd., Red River Foods
Incorporated, Sun-Maid Growers of California, Kiantama Oy, Traina Foods Inc.,
Bergin Fruit and Nut Company Inc., Dole Food Company Inc., and Lion Raisins
Inc. among others.
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Asia Pacific to Dominate Global
Market
In terms of geographical segmentation, the global
dried fruits market has five key regions in North America, Europe, Latin
America, Middle East and Africa, and Asia Pacific. Of these, the global market
is currently dominated by the Asia Pacific region. The region is also expected
to continue its domination over the course of the given forecast period of 2018
to 2026. The dominance of the regional segment is primarily due to the
increasing consumption of dried fruits in the region. The overall contribution
of Asia Pacific is projected to grow to nearly 41.3% in the coming few years.
This growth of the market is because of the increasing use of dried fruits in
production of baked goods, confectionaries, and other food products in the
region.
There are several factors that are responsible for
driving the growth of the global dried fruits market. One of the primary
driving factors is the growing demand for minerals and vitamins rich food
products across the globe. Some of the other important growth factors are
changing consumer preference and increasing health awareness among people. In
addition to this, the growing demand for dried fruits from the confectionary,
dairy, and bakery industries is also a compelling reason behind the growth of
the global dried fruits markets.
Organic Dried Fruits to Emerge as
Leading Market Segment
Depending upon the nature of the dried fruits
market, the segment of organic dried fruits is expected to achieve higher
growth in the coming few years. This growth of the segment is due to the fact
there has been a growing demand for organic food products from the end users.
Moreover, increasing health consciousness among the consumers is also helping
the market segment to grow. The segment of organic dried fruits is expected
exhibit a CAGR of 6.1% for the given forecast period.
Food
and Beverages Sector
The food and
beverages sector has cemented its place among the global populace firmly over
the years. This sector attracts considerable investments and subsidies from
numerous government and non-government organizations. The trends and popularity
regarding specific sub-categories are dynamic and help in structuring the
overall growth. The trends are a way of answering the needs of the consumer.
The players in the food and beverages sector have to adapt to the changing
trends, which helps increase revenue-generation opportunities.
