According to a recent report by Fact.MR, a market research and competitive intelligence provider, sales of packaged fresh fruits are expected to close in on a valuation of US$ 19.8 Bn by 2031, rising at a CAGR of around 5.5% through the same time period.
As consumers become more conscious of the importance of environmental conservation, demand for environmentally friendly products is skyrocketing. Consumers today are willing to pay a premium for products that promote sustainability and are choosing environmentally friendly options.
Adulteration-free products are always what consumers look for, and fresh fruits are no exception. This is where suppliers' ethical values come into play. Using artificial preservatives, coloring, or waxes to make fruits appear fresh is unethical and strictly prohibited by several national and international food safety organizations. Consumers are also more likely to choose unadulterated products that offer money for value.
Key takeaways from market study
- The U.S. is estimated to account for around 86.4% of the North American market in 2021, supported by an increased health-conscious population.
- According to Fact.MR analysis, China is estimated to account for more than 75% of the East Asian market share in 2021, driven by increased demand from hotels, restaurants, and cafes.
- The U.K. is one of the prominent countries in the European market with a share of 21%, on the back of increased imports of packaged fresh fruits.
- Packaged fresh pineapples are estimated to account for 21.2% of the market in 2021, on the back of their wide range of application.
- Conventional packaged fresh fruits reflect approximately 73.1% market share in 2021, but organic packaged fresh fruits are expected to witness a higher growth rate of 7.5% over the forecast period.
Competition landscape
Top producers of packaged fresh fruits are focusing on offering products with various claims. Modern consumers are more likely to want to know where their products come from. Rapid urbanization and literacy have resulted in a more informed consumer than ever before.
The need to understand each product processing step and every additive used to provide the claimed quality is a direct result of the rising rate of disease prevalence among consumers and how they are attempting to prevent such occurrences. All of this is motivated by modern consumers' desire for transparency and traceability in the foods that they consume.
- In July 2021, Dole Packaged Foods LLC launched two functional product lines: DOLE Essentials and DOLE Fruitify. Adding to the brand's popular portfolio of Fruit Bowls, DOLE Essentials delivers a highly sophisticated and functional snack option for consumers, such as pineapples, mandarin oranges, and mixed fruits.
- In August 2021, Del Monte Foods, Inc. announced a new snacking innovation - Del Monte Fruit Infusions. This new line of products incorporates delicious fruit chunks infused with antioxidants. These snacks offer a smart and convenient snacking solution.
For more information:
Monika Kale
Fact.MR
monika@factmr.com
www.factmr.com