Dried Fruit Extracts Market Forecast and CAGR
The food and beverage industry is endorsing a considerable growth rate in different regions around the world. Thus, it is generating huge demand for dried fruit extracts to use in a number of applications as it is a rich source for nutrients and phytochemicals, which are very crucial for the human body. The citation of these products is extensively used in the making of jams and many other products. Besides, such products also used in the packed fruit saps and juices so as to maintain the nourishing value of the juice. Business is set to experience absolute $ opportunity of more than US$ 350 Mn by 2031.
The global dried fruit extracts market is expected to witness a higher growth rate throughout the forecast period due to the rising demand for rich nutrition diet and foodstuffs across the globe. The protracted shelf life of dried fruits is more as compared to fruits, packing and carrying feature, united with easy storage is further likely to augment the consumption of dried fruits extracts. Whereas, manufacturers are focusing on launching new products with a long shelf life that can be utilized for various applications.
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Mounting demand for suitability and processed foodstuffs that are rich in nutrients and minerals is estimated to drive global development in near future. Flavor augmenting possessions related with some dried fruits, tied with accumulative disposable income of customers across developing countries is expected to lead the overall growth in the forthcoming years.
What is Driving Demand for Dried Fruit Extracts?
The rising trend of on the go snacking is set to accelerate the development of the market over the forecast period. Characteristics such as easy to carry and less decease ability have made dried fruit a prevalent healthy snack. Numerous dried fruit extracts such as raisins, dates extract, apricot extracts among others are gaining cumulative attention for nutrition’s and flavoring in pharmacy, bakery, health industry, food & beverages and confectionary.
Moreover, it has also gained substantial popularity as an ingredient for baked foods, oatmeal, salads, desert and snack. Over the past few years, liquid form type of dried fruit extracts has gained substantial popularity in the ice cream and chocolate industry as they added high nutrition and flavor in chocolates. Further, mounting demand for foodstuffs such as dried fruit chips is estimated to augur well with the improvement in the dried fruits extract potentials.
As such foodstuff products offer excellent natural anti-oxidant properties as well as nutrition, their citations are extensively used in cosmetic industries. In order to appeal to such buyers, key players are implementing driving facts such as point of purchase (POP) demonstration advertising strategy.
With the strict international trade guidelines regarding packaging and growing brand awareness among the consumers, dried fruit extract manufacturers have been gradually investing more in packaging.
Rising Health Conscious is Likely to Augment Dried Fruit Extracts Sales
The growth of dried fruit extracts is projected to be shaped by the number of benefits vacant by these dried fruit extracts. Additionally, such products are able to give tremendous flavoring and coloring properties. The human body is capable to engross dried fruit extract flavors very easily, which makes it progressively more popular product among others.
High nourishment values make it an excellent choice amongst health aware people. All these influences are anticipated to drive the expansion of the global dried fruit extracts potentials over the forecast period. The high disposable income of the people allows them to go for highly rated food items, like dried fruits and their extracts. Such factors are expected to portend well for the overall demand.
Cosmetics made by dried fruit extracts are having distinctive attention due to their natural source with an additional superfluous advantage with no side effects to human body. Especially, prominent beauty brands are spending millions of dollars on these products for fascinating end users and in turn resulting in the extension of dried fruit extracts consumption.
Asia Pacific Dried Fruit Extracts Market Outlook
Asia Pacific region is estimated to rise at a fastest rate over the forecast period. Cumulative application of dried fruit extracts in the production of sweet dishes, baked foods and other confectionaries are stimulating the demand for the product in the region.
Development in the market is aided by the increased acceptance of rich diets in apricots, almonds, raisins, prunes and figs. It is expected to grow in popularity as a rich nutritionally alternative to fruits, especially in countries with cold weather conditions. Consumption in the Asia-Pacific region is determined by the rising prosperity of the health consciousness among consumers and rising middle-class population and the swelling acceptance for packaged food with nutritious constituents.
Also, expanded retailers, along with growing procuring power in the developed and developing countries like China and India, is projected to increase the demand for foods with rich nutrients. Right packaging, enhanced availability and growing consciousness about the health needs have been driving the demand in this region.
North America Demand Outlook for Dried Fruit Extracts
North America is one of the leading producer and consumer of dried fruit extracts. Dried fruits extracts are experiencing huge demand in the region due to the rising number of studies that shows a number of health benefits by dried fruits extracts including weight management and disease prevention.
Research studies says that a few types of dried fruit extracts can help in reducing the risk of certain diseases. These dynamics are influencing North American people to pick suitable extracts and translate into significant value. The growing popularity and importance of e-commerce sector in view of tempting benefits comprising massive discount features could contemporize lucrative opportunities to the leading key players who aim to boost their global presence among more customers.
The consumer’s preference for nutritious foods and a healthy lifestyle owing to rise in obesity and increase in aging population are the driving demands in the North American region. Furthermore, distended recognition for nutritive food and comprehensive application of dried fruits in the bakery, dairy, confection and snack industries have powered the demand over the years.
Who are the Key Manufacturers and Suppliers of Dried Fruit Extracts?
Being a fragmented market, key manufacturers have a dominant presence across regions through streamlined distribution networks. Some of the leading manufacturers are
- Archer Daniels Midland
- Monik Fruit Group
- Graceland Fruit
- Kane grade
- Sweet Dried Fruit
- Nikken Foods
- Van Drunen Farms
- Plant lipids
presenting new substitutes and expanding the welfares of dried fruit extracts among the customers thus, taking over small manufacturers leading to extension.
The leading suppliers are
- Vigon International
- Ingredients Online
- Wego Chemical Group
- Jedwards International
- Zilka & Co.
- Aldon Corporations
The global dried fruit extracts market is projected to be driven by several factors such as an increase in demand for healthiness, technological advancements and a rise in the number of manufacturers focusing on the development for future growth.
By Nature Type
By Form Type
By Distribution Channel Type
- Online Retails
- Departmental Stores
- Convenience Stores
- Specialty Stores
By End User Type
- Food Industry
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East And Africa
- GCC Countries
- Other Middle East
- South Africa
- Other Africa
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