Dry Fruit Ingredients Market Scope
Dry Fruits are fruits from which the majority of the water content has been removed. This may be through natural processes such as sun drying or artificially with the help of dehydrators. Dry Fruits are said to be very rich in proteins and vitamins, and thus are very expensive compared to normal fruits. Dry fruit ingredients are available in powder, slices, or granulates and as whole dried fruits. The slices or granulated format is rising in popularity due to easy application in processed food such as bars, snacks, and cereals. Global rise in demand for high protein diet especially due to rising gym culture and health awareness has led to growth of the dry fruit ingredients. North America and Asia Pacific are the two biggest markets for dry fruit ingredients.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Jiangsu Palarich Food Co.,Ltd. (China), Red River Foods, Inc. (United States), Sun-Maid Growers of California (United States), Sunbeam Foods, Inc. (United States), Bergin Fruit & Nut Co. (United States), Traina Foods (United States), Dole Food Company, Inc. (United States), Kiantama Oy (Finland), Lion Raisins (United States) and Geobres Nemean Currants and Sultana Raisins S.A. (Greece) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Dry Fruit Ingredients market throughout the predicted period.
Jiangsu Palarich Food Co.,Ltd. (China), Red River Foods, Inc. (United States), Sun-Maid Growers of California (United States), Sunbeam Foods, Inc. (United States), Bergin Fruit & Nut Co. (United States), Traina Foods (United States), Dole Food Company, Inc. (United States), Kiantama Oy (Finland), Lion Raisins (United States) and Geobres Nemean Currants and Sultana Raisins S.A. (Greece) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Diana SAS (France), Shivam Cashew Industry (India) and Ashapura Agrocomm Private Limited (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Dry Fruit Ingredients market by Type , by Application (Confectioneries, Dairy Products, Bakery Products, Snacks and Bars, Desserts, Cereals and Others) and Region with country level break-up.
On the basis of geography, the market of Dry Fruit Ingredients has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In 2021, Vibrant Foods, a United Kingdom based plant-based products producer and supplier associated with south Asian heritage has announced acquisition of Fudco, which is one of the leading nuts and spices brand. The acquisition will expand the product portfolio of the Vibrant Foods as well as help Fudco expand its customer base with help of Vibrant Foods.
In July 2023, Ingredion, a global leader in ingredient solutions, acquired Nutrafoods, a leading Indian manufacturer of dried fruits and nuts. The acquisition will help Ingredion expand its reach in the growing Indian market.
Influencing Trend:
Slices and Granulates Format is Rising in Demand due to its Easy Applications in Processed Food such as Snacks, Bars, and Cereals
Market Growth Drivers:
Rise of Veganism and Vegetarianism
Challenges:
Climate Change may affect the Yield of the Dry Fruit Ingredients
Restraints:
Expensive Cost of the Dry Fruits due to Hard Production Process
Opportunities:
Growing Demand for High Protein, Mineral, and Vitamin Comprised Products
Key Target Audience
Dry Fruit Ingredients Producers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries