Impact of COVID-19 on Dried Fruits Market : Implications on Business

 

Global Dried Fruits Market: Overview

The global dried fruits market is expected to grow in the near future owing to the increasing demand for vitamin and mineral rich foods across the world. Other factors like shifting consumer preference, and growing health consciousness is likely to propel the demand for dried fruits. Apart from this, the increased demand of dried fruit from the bakery, dairy and confectionery industries is another prominent factor boosting the global dried fruits markets.

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As per a Transparency Market Research report, the global dried fruits market has been estimated to be valued around US$ 7,255.4 Mn in 2018, and the market is projected to increase at a healthy CAGR of 5.9% during the forecast period (2018-2026). 

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Rising Demand of Organic Dried to Boost Growth of Organic Dried Fruits Market  

From the perspective of fruit type, the global dried fruits market is divided into raisins, tropical & exotic fruits and berries. Further, the raisins is classified into natural seedless, golden seedless, black currant, sultana, muscat, monukka. While tropical & exotic fruits is further segmented into dates, apricot dried Figs, banana, pineapple, mango, peaches and others. Berries is segmented into cranberry, blueberry, raspberry, acai berry. Among these fruit type, tropical and exotic fruits segment is expected to dominate the global dried fruits market owing to their increasing usage in flavors and additives industry.

On the basis of nature, the global dried fruits market is mainly segmented into organic and conventional. The growing health consciousness among the customer regarding is a major driver for the organic dried fruits market. Because of this, the organic dried fruits market is likely to have a high preference as compared to conventional dried fruits during the forecast. The organic dried fruits market is anticipated to witness an annual growth rate of 6.1% in the upcoming year. However, at present the organic dried fruits market has low market share owing to their high cost. The growing preference of organic fruit in the developed economies is a major driver expected to drive the organic dried fruit market in the near future. 

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Asia Pacific to Lead Regional Segment in Global Dried Fruit Market

Based on geography, the global dried fruits market is classified into five prime regions: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.  Among all the regions, Asia Pacific is expected to lead the global dried fruits market in the near future. This is due to the rising consumption in the region. The total contribution of Asia Pacific is expected to rise around 41.3% share in the near future.  This is owing to the high consumption of dried fruits in confectionaries and baked goods in the region.

The global dried fruits market has profiled the most prominent companies.  The increased market penetration of these companies in developing and developed economies makes the dried fruits market a highly competitive one.  Some of them are Dole Food Company, Inc., Lion Raisins Inc., Bergin Fruit and Nut Company Inc., Kiantama Oy, Traina Foods, Inc., Sun-Maid Growers of California, Sunbeam Foods Pty Ltd., and Red River Foods Incorporated.

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