The global dried fruit ingredients market is poised for significant growth, with a valuation of approximately US$ 7.6 billion in 2022. Forecasts suggest a robust CAGR of 5.2% from 2023 to 2031, potentially reaching US$ 11.9 billion by the end of this period. This growth trajectory is largely driven by an increasing health consciousness among consumers and a rising preference for organic food options.
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Analyst Viewpoint
Dried fruit ingredients are celebrated as superfoods, loaded with essential nutrients, including vitamins, minerals, and antioxidants. As the prevalence of cardiovascular diseases continues to rise, the demand for nutrient-dense food options is becoming more pronounced. Consumers are increasingly opting for healthier snacking alternatives, steering away from high-calorie snacks and gravitating towards products that promote overall well-being.
Key players in the market are responding to these trends by offering a range of non-GMO and organic products. This includes an array of conventional and organic dried fruits, catering to health-focused consumers seeking real fruit ingredients that enhance their dietary intake.
Market Introduction
Dried fruit ingredients serve as natural substitutes in various food and beverage products, providing not only sweetness but also nutritional benefits. Commonly used dried fruits include dates, raisins, apricots, and figs, which contribute concentrated flavors and textures to culinary applications. Their role as natural sweeteners has become increasingly significant, especially in the context of clean-label products, which are gaining traction among consumers.
As the food and beverage industry evolves, the demand for dried fruit ingredients is expected to grow, driven by consumers' preference for nutritious options. This trend is particularly evident within vegan and vegetarian formulations, where dried fruits are becoming essential components.
Drivers of Market Growth
Rise in Health Consciousness
A fundamental driver of the dried fruit ingredients market is the increasing awareness of health among consumers. Dried fruits are viewed as superfoods due to their rich nutrient content, which includes essential minerals, fibers, vitamins, and antioxidants. These attributes make them an appealing choice for those seeking quick sources of energy and multi-nutrient benefits.
According to a survey conducted by Gelesis in January 2021, 51% of U.S. respondents expressed a desire to lose weight, and 60% aimed to feel healthier by making dietary changes, such as incorporating more plant-based meals. This shift towards health and wellness is significantly boosting the demand for dried fruit ingredients.
Increase in Preference for Organic Food
The preference for organic products is another key factor propelling market growth. Organic dried fruit ingredients appeal to health-conscious consumers, as they typically contain higher nutritional content and fewer harmful chemicals. Moreover, organic farming practices align with growing environmental concerns, which enhances their attractiveness.
The Organic Trade Association reported that organic sales surpassed US$ 63 billion between 2020 and 2021, with food sales accounting for US$ 57.5 billion of this figure. This trend highlights the increasing consumer inclination towards organic food, further supporting the dried fruit ingredients market.
Regional Outlook
Leading Region: Europe
Europe holds the largest market share for dried fruit ingredients, driven by changing food habits and heightened health concerns, particularly regarding cardiovascular diseases. Dried fruits are increasingly favored as convenient, shelf-stable alternatives to fresh produce. Studies indicate that dried fruit consumption is linked to a lower risk of cardiovascular diseases, type 2 diabetes, and obesity.
As health awareness continues to rise, more Europeans are incorporating dried fruits into their diets. The trend of healthy snacking is gaining momentum, with consumers gravitating towards natural, vegan, and gluten-free options, which in turn boosts the market share for dried fruit ingredients in the region.
Analysis of Key Players
Several key players dominate the dried fruit ingredients market, focusing on delivering high-quality, organic products that meet evolving consumer expectations. Companies such as Diana Food SAS, ADM, Döhler GmbH, SunOpta Grains and Foods Inc., and Naturex SA are at the forefront of this industry.
These companies are investing in innovative product development to meet the rising demand for healthy snacks. They focus on enhancing their product portfolios with high-quality dried fruit ingredients that cater to health-conscious consumers. Each company is profiled based on factors such as business strategies, financial performance, and recent developments, illustrating the competitive landscape of the market.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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