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Rising Trend of On-the-Go Snacking to Position Dried Fruit Extracts Market at US$ 15.8 Billion by 2032
NEW YORK , Aug. 3, 2022 /PRNewswire/ -- The global dried fruit extracts market size is anticipated to grow from US$ 8.9 billion in 2022 to US$ 15.8 billion by 2032, accelerating at a CAGR of 5.9% over the forecast period (2022-2032). Rising demand for dried fruits extracts in industries like food, cosmetics and pharmaceuticals is a major factor driving growth in the global market.
Dried fruit extracts are products obtained from fruit juices and purees by using various drying methods or drying technologies. These dried fruit extracts are rich in nutrients and thus offer various health benefits including antioxidant, anti-inflammatory, antitumor, and antidiabetic.
Thus, rising health awareness among consumers about the various health benefits of dried fruit extracts along with growing demand for nutrition rich diets will continue to augment growth in the global dried fruit extracts market during the forecast period.
Similarly, rising trend of on-the-go snacking, growing popularity of organic products, and excellent flavoring and coloring properties of dried fruit extracts are likely to act as catalysts for the growth of dried fruit extracts market during the forecast period.
Another factor pushing demand for dried fruit extracts is the growing usage in cosmetic and pharmaceutical products.
Dried fruits extracts are known to promote the growth of newer and healthier cells, protect against UV radiation, reduce allergy, and cleanse, condition, and nourish hair. As a result, they are being increasingly used in cosmetics and personal care products.
Regionally, North America and Europe will collectively account for nearly 46% share in the global dried fruit extracts market in 2022. Growth in these markets is driven by rising preference for packaged and processed foods, availability of advanced drying technologies, and growing consumer awareness about the health benefits of dried fruit extracts.
Leading dried fruit extracts manufacturers are continuously adopting strategies such as new product launches with innovative flavors, mergers, partnerships, collaborations, and strengthening of distribution channels to improve their market share as well as to expand their presence.
For instance,
In the latest study, Fact.MR offers a 360-degree view of the global dried fruit extracts market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the dried fruit extracts market through detailed segmentation as follows:
The global fruit snacks market is slated to expand at an impressive 8.5% CAGR during the assessment period (2019-2027). Overall sales in the market are expected to reach US$ 9 Billion by the end of 2027 amid growing consumption of healthy snacks such as fruits among millennials.
: As per Fact.MR, demand for dried apple peel is projected to grow at a steady pace during the forecast period owing to the extensive applications of dried apple peel in industries like food & beverages, pharmaceutical and nutraceutical. Similarly, growing awareness about the health benefits of dried apple peel will boost market growth in future.
: Global sales of dried spices are slated to grow at a CAGR of 4.6% between 2021 and 2031, totaling around 8.6 Billion by 2031. Growth in the market is driven by rapid expansion of food and beverage industry, growing usage of dried spices to improve aroma and taste of foods, and rising awareness about the medicinal benefits of dried spices.
This demand growth has helped increase dried egg production as well. The North America dried egg market accounts for more than 30% of worldwide production, while the market East Asia is predicted to expand at the highest CAGR of 11.2%.
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