The global fruit snack consumption totals a market value of US$ 5.9 billion and is estimated to grow at 7.8% CAGR between 2023 and 2033. The worldwide fruit snacks market is anticipated to grow to a value of US$ 12.5 billion by 2033.

The onset of chronic diseases and increasing mortality rates caused by these diseases have led to the increasing adoption of healthy lifestyle habits that encourage the intake of healthy foods and snacks. Fruits have always been regarded as a healthy option as the old saying goes, "An apple a day, keeps the doctor away". Snack food manufacturers are attempting to take advantage of the healthiness of fruits by developing snacks that incorporate fruits as an ingredient and meet the requirement for healthy snack foods.

Growing awareness about the advantages linked with the intake of vitamins, minerals, and proteins in a balanced diet is a key driver that is expected to support demand for fruit snacks during the forecast period. Growing popularity of preventive healthcare and increasing awareness of the role of immunity in disease prevention are other factors that may boost the shipments of fruit snacks during the next decade.

How Are New Market Entrants Changing Fruit Snacking Trends?

"Start-up Firms Debuts with Novel Products and Seeking Funding to Pursue Business"

New firms entering the market are raising new funds to aid in their growth initiatives and increase business to maximum possible capacity by competing against dominant players in the market.

Farmlley, a start-up in the dry fruits space, in August 2022, said it had raised a Series A round of US$ 6 million led jointly by DSG Consumer Partners and Alkemi Ventures, along with existing investors. The firm proposed to deploy this fund to build its team and business operations to earn higher revenue.

In June 2021, RIND Snacks, a newly formed company which makes upcycled dried fruit snacks, revealed that it had raised US$ 6.1 million in a Series A capital raise headed by Valor Siren Ventures and further investment from Melitas Ventures. The firm planned to increase its manufacturing capacity with the fresh capital.

New fruit snack operators are targeting to take advantage of guilt-free snacking trends and increasing demand for healthy foods to enhance their business prospects.

On May 2022, Singaporean local start-up Hey! Chips introduced corn kernel chips to its portfolio of guilt-free snack offerings. Mango, onion, pineapple, jackfruit, banana, okra, jackfruit, and many other varieties of guilt-free snack chips with natural fruit flavors are presented by the company.

Report : https://www.factmr.com/report/4476/fruit-snacks-market