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Growing Demand for Convenience and Processed Food of Fruit Snack Market Drivers
HYDERABAD, TELANGANA, INDIA, September 23, 2022 /EINPresswire.com / -- IndustryARC, in its latest report, predicts that Fruit Snack Market size is estimated to reach $3,700 million by 2026, growing at a CAGR of 6.1% over 2021-2026. Fruits snacks are kind of processed fruits that are produced in the food and beverage industry and contains a more nutritional value. Sweet confectionery snacks are considered as fruit snacks and are very similar to gummies. Fruit snacks contain refined sugar and are extracted from concentrated white grape juice. Fruit snack are manufactured by using corn syrup, sugar, fruit concentrate, water, gelatin and various natural and artificial flavors. Growing demand for convenience and processed foods among consumers and rising consciousness about health is the major factor driving the growth of this market. Furthermore, increasing research and development activities in food and beverage industry and rising advancement in technology is set to further enhance the overall market demand for Fruit Extract Market for the period 2021-2026. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. Geographically, in 2020, North America dominated the Fruit Snack Market owing to increasing demand of ready-to-eat foods among people and rising intake of snacks in order to satisfy the hungriness.
2. Growing demand for convenience and processed foods among consumers and rising consciousness about health are likely to aid in the market growth of the Fruit Snack.
3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Fruit Snack Market report.
4. High cost of production of fruit snacks and increasing side effects is set to create hurdles for the Fruit Snack Market.
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1. Candies and Bars segment is estimated to register the fastest CAGR of 1.05% for the period 2021-2026. This is mainly owing to changing pattern of consumption among consumers and rising trends of consumption among children and are increasing the growth of this segment.
2. North America dominated the Market with major share of 40% in 2020. This is owing to increasing demand of ready-to-eat foods among people and rising intake of snacks in order to satisfy the hungriness.
3. Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 3.05% during the forecast period 2021-2026 owing to rising research and development activities and increasing development in food and beverage industry.
4. Owing to mixed flavors helps to increase the taste of food products that increases the demand of sweet confectionery and are rising the growth of this market. The apple Industry segment is forecasted to register the fastest CAGR of 2% over 2021-2026.
The top 5 players in the Fruit Snack industry are -
1. Sunkist Growers Inc.
3. General Mills, Inc.
4. Welch's, Kellogg Co.
5. Bare Foods Co.
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