The global dried fruit products market was valued at USD 8.2 billion in 2022 and is projected to expand at a CAGR of 5.4% from 2023 to 2030. Dried fruits are gaining popularity due to their nutritional and health benefits. Dried fruits are a convenient and healthy snack option as they contain essential vitamins, minerals, and dietary fibers. Furthermore, they are also rich in antioxidants, which protect the body from oxidative damage and chronic diseases.

The rising consumer focus on health and wellness, coupled with the increasing demand for organic products, is driving the market growth. Increasing consumer awareness and the availability of various flavors and varieties of dried fruits are further supporting the market growth. For instance, in April 2021, Sunsweet Growers Inc. introduced a new range of dried fruit products with new flavors, such as mango, strawberry, and blueberry.

Rising demand for ready-to-eat and convenience food products, coupled with the adoption of healthy lifestyles, are expected to support market growth in the coming years. The convenience of dried fruits, along with their long shelf life, makes them an ideal snack option for health-conscious consumers. Furthermore, the growing number of food and beverage manufacturers are introducing new products with dried fruit ingredients. For instance, in May 2021, Brothers-All-Natural announced the launch of its new line of snack packs with a mix of dried fruits and nuts.

The increasing demand for dried fruit products in the bakery and confectionery industry is expected to drive market growth. Dried fruits are used as a topping or filling for cakes, cookies, pastries, and donuts. Furthermore, the growing demand for dried fruits in the foodservice industry is expected to support the market growth in the upcoming years. For instance, in June 2021, the Canadian restaurant chain Tim Hortons launched a new range of protein-rich breakfast sandwiches with dried fruit ingredients.

The growing trend of veganism is expected to create new opportunities for market participants in the coming years. Consumers are increasingly opting for plant-based alternatives, such as dried fruits, to meet their nutritional needs. Furthermore, rising consumer inclination toward the consumption of natural food products is expected to drive the demand for dried fruits in the upcoming years.

The dried fruits segment accounted for the largest share of the market in 2020. Dried fruits are gaining popularity among people due to their nutritional value, convenience, and longer shelf-life. According to an article published by The Guardian, in October 2020, people are increasingly turning to dried fruit as a healthy snack option. Furthermore, the rising disposable income, improved living standards, and the increasing health consciousness among consumers are some of the other factors driving the market growth.

The nuts segment is projected to register the fastest CAGR of 6.2% during the forecast period. Nuts are gaining popularity as they are a good source of minerals, vitamins, and antioxidants. According to an article published by the University of Washington, in January 2020, regular consumption of nuts has been linked to improved cardiovascular health. Additionally, rising health consciousness, growing demand for vegan products, and increasing marketing and promotional activities are some of the other factors driving the demand for nuts.

The supermarkets & hypermarkets segment held a major share of over 33.3% in 2022. The growth of this segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase dried fruits. According to a study by Food Retail in 2020, customers prefer to buy dried fruits in physical stores as they can pick and select the best quality fruits. These establishments also provide a large selection of products and assist customers in making quick purchasing decisions for the required product.

The online segment is expected to expand at the highest CAGR of 11.2% over the forecast period. E-commerce development in the dried fruits industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in December 2022, Amazon launched Amazon Dried Fruits, dedicated to offering dried fruits from renowned brands. The website will offer an extensive range of products across categories like raisins, dates, cranberries, apricots, and figs. In addition, it will also offer the best brands and products for customers along with expert advice and opinions on choosing the best quality dried fruits.

The conventional segment accounted for the largest revenue share of 70.1% in the year 2022. The popularity of conventional products such as dates, raisins, dried apricots, and so on, is attributed to their low price, longer shelf life, and easy availability. Furthermore, changes in the lifestyle of consumers, along with the growing demand for convenience foods, are driving the market for conventional dried fruit products as they are easy to store, carry, and consume.

The organic segment is anticipated to expand at the highest CAGR of 8.5% over the forecast period. The increasing demand for organic food products due to health concerns is boosting the market for organic dried fruit products. Additionally, the growing awareness about organic products among health-conscious consumers is also driving the market for organic dried fruits. Furthermore, the increasing demand for gluten-free organic products is further driving the organic dried fruit segment.

North America dominated the market and accounted for the largest revenue share of over 36.4% in 2022. The region is witnessing high demand for dried fruits, due to their convenience and health benefits. Moreover, the growing demand for healthy snacks, such as dried fruits, is propelling the market growth in the region. For instance, in August 2020, Sun-Maid announced the launch of its new premium dried fruit snack line, which includes dried mango, dried pineapple, and dried banana chips.

Europe is expected to register the second-fastest growth, owing to a strong presence of health-conscious consumers, who are increasingly opting for dried fruits as healthy snacks. Furthermore, the increasing number of supermarkets and hypermarkets, such as Tesco and Carrefour, that offer a wide range of dried fruit products in the region is also expected to contribute to the market growth. For instance, in March 2021, Natures Bakery launched a new line of organic dried fruit snacks in Europe, which includes several flavors, such as apple, apricot, and cranberry.

In this part of the dried fruit products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your dried fruit products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main sources of revenues for a dried fruit products business come from direct sales to consumers, as well as sales to wholesalers, retailers, and other distributors. Additional sources of income might include online sales, subscription services, and catering for special events and corporate functions.

Projecting Expenses

In this section, all the regular expenses related to keeping the dried fruit products business running will be described. The list of operating expenses includes purchasing raw materials, product packaging, shipping and handling, taxes, wages and salaries, insurance policies, advertising, and others.

Some of the key companies operating in the dried fruit market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Sun-Maid Growers of California launched a new range of organic dried fruits.

– In August 2022, Nature’s Garden launched a new range of dried fruit snacks with no added sugar.

– In October 2022, Dole Food Company launched a new range of freeze-dried fruit snacks in convenient packaging.

Some of the prominent players in the dried fruit market include:

– Sun-Maid Growers of California
– Dole Food Company
– Seneca Foods Corporation
– Wonderful Pistachios & Almonds
– Ocean Spray Cranberries, Inc.
– Nature’s Garden
– Sunsweet Growers, Inc.
– Ocean Spray International Inc.
– Wonderful Citrus
– Pinnacle Foods Inc.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global dried fruit products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Dried Fruits
– Dried Nuts
– Dried Seeds
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Product Innovation?
[A]: Product innovation and new product launches are expected to drive the market for dried fruits. Manufacturers are focused on developing new product formulations with different packaging and flavor combinations to increase their sales and market share. For instance, in 2018, the Nestlé company launched a new range of dried fruit snacks, called Nestlé Fruit Twist, which includes combinations of dried fruits, such as apple, mango, and banana, in one package.

[Q]: Who are the Key Players in the Dried Fruits Market?
[A]: Major players in the global dried fruits market include Sunbeam Foods Pty Ltd., Archer Daniels Midland Company, Sun-Maid Growers of California, Nestlé S.A., Sunsweet Growers Inc., and Dole Food Company Inc.

[Q]: Which Region Offers the Largest Opportunity for Sales of Dried Fruits?
[A]: Asia Pacific is expected to be the largest market for dried fruits. The region has witnessed a significant growth in the demand for dried fruits due to the increasing health awareness among consumers and the rising number of health-conscious individuals.

[Q]: What are the factors driving the dried fruits market?
[A]: Key factors driving the dried fruits market include the growing health awareness among consumers, the rising demand for healthy snacks, and the increasing demand for convenient and healthy products. Moreover, the increasing number of working women and rising disposable incomes are also expected to drive the market for dried fruits.