Global Low Sugar Fruit Snacks Market By Product (fruit bars, dried tropical fruit, fruit roll-ups, and others), By distribution channels (hypermarkets & supermarkets, convenience stores, online retailers, and Other Distribution Channels), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Low Sugar Fruit Snacks Market
Market Report Description
The Global Low Sugar Fruit Snacks Market size is expected to reach $3,785.9 million by 2027, rising at a market growth of 10.8% CAGR during the forecast period.
Low sugar fruit snacks are processed confectionery items that contain low or zero artificial sweeteners. There is a wide variety of low sugar fruit snacks available in the market including fruit strips, fruit bars, and others. The increasing purchasing power and changing consumer preference toward ready-to-eat & healthy convenience food products would surge the demand for low sugar fruit snacks in the market.
Snacks are a crucial part of a person’s diet, which makes it important for the consumers to opt for healthy snacking. Due to this, the demand for healthier snacking alternatives such as low sugar fruit snacks would increase in the coming years. These kinds of snacks offer a wide range of health benefits for the consumers and provide numerous nutrients like potassium, fiber and others. In addition, these snacks are available in various forms, design and color that sometimes signifies the fruit used in making these products.
COVID-19 Impact Analysis
During the initial phase of the COVID-19 pandemic, demand and sales of snacks have witnessed a decline. It is due to the imposition of lockdown, temporary ban on manufacturing units, and disruption caused in the supply chain. Panic buying of food supplies by consumers in the initial stage of lockdown has contributed to the huge spike in the sales of ready-to-eat food in retail distribution channels. The rapid decline in the consumption of processed and packaged food products has negatively impacted the snacks industry. The high demand for gluten-free, vegetarian, and meat-free low sugar snacks options among consumers would support the growth of the low sugar fruit snacks market over the forecast period.
Market Growth Factors:
Growing consumption of convenience food products
There is a change in the lifestyle and food patterns of consumers across the world due to their hectic schedule, which motivates them to opt for food items that require less time to consume but give more nutritional value. Snacks are a very popular meal, which offers quick satiety and a much-required break in a hectic day. With the increasing awareness among consumers to reduce the risks of chronic diseases and maintain a healthy lifestyle, the demand for various health snack options has increased in the market.
Increasing prevalence of diabetes
Diabetes is a chronic disease in which a person’s blood glucose, also known as blood sugar, is very high. So, doctors recommend diabetic patients eat something between their meals to stabilize their sugar level. For this, patients consider low sugar fruit snacks for their consumption as it offers high nutrition value with no artificial sugar content. Due to the increasing cases of chronic diseases, especially diabetes, companies are investing more in the development of new snack options that can well-suit their snacking requirement.
Market Restraining Factor:
Difficulties faced in processing low sugar fruit snacks
There are many challenges faced by the manufacturers including the technological and processing problems, which are estimated to hinder the growth of the low sugar fruit snacks market. It is important to manufacture these products without compromising the quality and maintaining the real essence of various fruits. In addition, fruits easily get rotten and have less shelf life, which creates a problem for the manufacturers to process them to make their products.
Based on Products, the low sugar fruit snacks market is segmented into fruit roll-ups, dried tropical fruit, fruit bars, and others. The dried tropical fruit segment is estimated to witness the fastest CAGR over the forecast period. This growth is attributed to the high popularity of tropical fruits among millennials. These dried tropical fruits are manufactured to remove any insects, damages, mold, and blemishes without adding up any preservatives or sugar.
Distribution Channel Outlook
Based on Distribution Channel the low sugar fruit snacks market is divided into online retailers, hypermarkets & supermarkets, convenience stores, and others. The online retailers segment is anticipated to display the fastest growth rate in the low sugar fruit snacks market over the forecast period. This growth is attributed to the rising penetration of smartphones and enhanced logistics infrastructure around the world. In addition, the rapid pace of digitalization across different nations would also support the growth of the segment.
|Market size value in 2020||USD 1.8 Billion|
|Market size forecast in 2027||USD 3,785.9 million|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 10.8% from 2021 to 2027|
|Number of Pages||163|
|Number of Tables||279|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, Distribution Channels, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The low sugar fruit snacks market is analysed across North America, Europe, Asia Pacific, and LAMEA. North America emerged as the leading region in the market with the highest revenue share in 2020. The shifting preference of millennials towards low sugar food products containing high nutritional content would bolster the growth of the regional low sugar fruit snacks market.
Free Valuable Insights: Global Low Sugar Fruit Snacks Market size to reach USD 3,785.9 million by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PepsiCo, Inc., Nestle S.A., Danone, S.A., Ferrero Group, Calbee, Inc., Tyson Foods, Inc., Chaucer Foods Ltd. (Pilgrim Food Group PLC), Welch Foods, Inc., and WALLAROO.
Recent Strategies Deployed in Low Sugar Fruit Snacks Market
- Mar-2021: Nestlé introduced Nestlé Incoa, a sugar-free chocolate bar made with cocoa berry. The launch enables Nestlé to distribute delicious dark chocolate along with combining agricultural side-streams into their value chain.
- Feb-2021: Welch launched Welch's Juicefuls, a gluten-free, preservative-free candy for children. The product features extraordinary shots of fruit juice in the centers and a genuine & distinctive substitute to other snacks.
- Jan-2021: Kellogg's expanded its W.K Kellogg product portfolio by unveiling a new 'healthy' snacks bar made from genuine fruits and vegetables. The new snacks bar contains no synthetic colors, added sugar, or flavors. It's a source of fiber and carries less than 100 calories. The bar gives parents mental satisfaction because they don't need to worry about their children's unhealthy food consumption.
- Jul-2019: The Ferrero Group completed the acquisition of pie burst, ice cream cone, cookie, fruit, and fruit-flavored snack from Kellogg Company. Through this acquisition, the company focused on strengthening its position in the North American market.
- Mar-2018: PepsiCo took over Bare Foods Co (Bare Snacks), a U.S.-based manufacturer of cooked fruit and vegetable munchies. Under this acquisition, Bare Snacks would expand its product portfolio and offer consumers more optimistic nutrition alternatives.
Scope of the Study
Market Segments Covered in the Report:
- Fruit Bars
- Dried Tropical Fruit
- Fruit Roll-Ups
By Distribution Channels
- Hypermarkets & Supermarkets
- Convenience Stores
- Online Retailers
- Other Distribution Channels
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- PepsiCo, Inc.
- Nestle S.A.
- Danone, S.A.
- Ferrero Group
- Calbee, Inc.
- Tyson Foods, Inc.
- Chaucer Foods Ltd. (Pilgrim Food Group PLC)
- Welch Foods, Inc.
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How valuable will the low sugar fruit snacks market be in the future?
The global low sugar fruit snacks market size is expected to reach $3,785.9 million by 2027.
What are the key driving factors and challenges in the low sugar fruit snacks market?
Growing consumption of convenience food products are driving the market in coming years, however, Difficulties faced in processing low sugar fruit snacks limited the growth of the market.
Who are the top market players in the low sugar fruit snacks industry?
PepsiCo, Inc., Nestle S.A., Danone, S.A., Ferrero Group, Calbee, Inc., Tyson Foods, Inc., Chaucer Foods Ltd. (Pilgrim Food Group PLC), Welch Foods, Inc., and WALLAROO.
Has COVID-19 impacted the low sugar fruit snacks market?
Yes, The rapid decline in the consumption of processed and packaged food products has negatively impacted the snacks industry. The high demand for gluten-free, vegetarian, and meat-free low sugar snacks options among consumers would support the growth of the low sugar fruit snacks market over the forecast period.
Which segment dominated the low sugar fruit snacks market in 2020?
The Hypermarket & Supermarket market dominated the Global Low Sugar Fruit Snacks Market by Distribution Channels in 2020, and would continue to be a dominant market till 2027; growing at a CAGR of 10.2% during the forecast period.
Which region dominated the low sugar fruit snacks market in 2020?
The North America market dominated the Global Low Sugar Fruit Snacks Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,278.5 Million by 2027.