Fruit Jerky Market Global Trends Motivating Revenue Boost Across Prime Geographies during 2018 to 20
Changing consumption trends towards zero trans-fat food products in the young population are the factors expected to drive the growth of the global Fruit Jerky market over the forecast period.
[UKPRwire, Wed Apr 17 2019] This is increasing the demand for customized products or fruit jerky for established variants in the market. Owing to rising awareness & increased health spending, government and private companies are also promoting natural products such as fruit jerky with a view to control and prevent diseases arising from obesity, cholesterol, and others. Manufacturers are offering handmade fruit jerky labelled as gluten-free, vegan, and free-from as fruit jerky made theirsí manufactured fruit jerky is made with whole fresh fruit and fresh purees. Some of the manufacturers also claim that they donít use any additives, concentrates, or preservatives, just 100% fruit. Growing awareness among the consumers regarding healthy diet, cumulative occurrences of celiac patients globally and its importance are anticipated to fuel the Fruit Jerky Market.
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Consumers are opting for fruit jerky, owing to the accumulative health-conscious consumers and increasingly available as products labelled grass-fed, natural, organic, and produced without antibiotics. Although fruit jerky and other snacks dominate the savoury snacks category, mounting at 9% compound annual growth rate during the past five years - the sector has customarily been at the degree of a handful of manufacturers producing fruit jerky products. Moreover, increasing concern about the side-effects of chemicals and synthetic additives or ingredients used is fuelling the demand for fruit jerky to a significant extent.
The demand for Fruit Jerky is increasing in Asia, which provides substantial untapped opportunities for key players in this region. The weight loss food product market includes products such as gluten-free, sugar-free and low-calorie items, etc.; hence the factor is propelling the global fruit jerky market and is anticipated to grow in the forecast period.
Global Fruit Jerky Market Dynamics
Increasing Demand for Simple Claims and Packaging for Maximum Transparency
Recently, it has been made mandatory for all food products including Fruit Jerky manufacturers to provide nutritional information regarding the subsequent Fruit Jerky on the packaging. Few manufacturers are claiming that their packaging is home compostable helping consumers to reduce waste even further. The claims and labels either on the front or at the back of the fruit jerky packaging help the customer determine the calorie intake along with the claims related to the fruit jerky. The health-conscious population has been referring to this practice as a boon as it helps them keep a record of their diet along with the workout. The predetermined calorie and nutrition count on the packaging is one of the reasons behind the widespread grown popularity of the Fruit Jerky.
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Growing Demand for Natural, Gluten-free and Vegan Products
Increasing concern about the side effects of chemicals and synthetic additives used in food and beverages is fueling the demand for natural alternatives such as Fruit Jerky. This is increasing the demand for customized products or natural alternatives for established variants in the market. The natural, gluten-free, and vegan food items, which are plant-based have more beneficial nutrients compared to artificial snacks. Associated with Fruit Jerky, there are numerous health benefits which include no obesity, weight loss, healthy lifestyle, natural cures, and weight control. The companies are focusing on introducing new Fruit Jerky with enhanced benefits to expand its product portfolio and increase its customer base.
Increasing Population of Baby Boomers
Consumers aged 65 years and above accounted for 36% of the sales of fruit jerky in the U.S. in 2017. The growth rate of the elderly (1.9%) was higher than that of the total population in the world (1.2%) in 2018. According to the United Nations Department of Economic and Social Affairs, 436 million people in China are likely to be aged above 60 by 2050. Chinese Population above 60 years of age is estimated to expand 3.5 times than the total population from 2025 to 2030.
Similarly, according to the UNís World Population Prospects report, the population in Europe aged 65 years and above is projected to increase from 16% in 2000 to 25% by 2030. Increase in baby boomers population is expected to be directly in proportion with the growth in vegan community; as consumers prefer to embrace vegan diet for their toddlers from their early stage to uphold a healthy life. This factor is anticipated to propel the growth of fruit jerky market.
Ingredient and Flavor Innovation
Producers of plant-based products such as fruit jerky are regularly offering consumers more innovative products regarding ingredients and flavors. Innovation in fruit jerky is done to meet the consumer demand for a healthier snack without compromising on the taste, flavor, texture, and nutritional qualities of the product. This is an enormous opportunity for fruit jerky manufacturers to expand its export base of fruit jerky internationally.
Global Fruit Jerky Market Regional Overview
Markets in Europe, Middle East and Africa and Asia Pacific are expected to grow significantly over the forecast period. Consumption of Fruit Jerky is relatively high among consumers in countries in the Europe region, which is expected to drive the Fruit Jerky market growth in the near future. Changing consumption trends towards zero trans-fat food products in the young population are the factors expected to drive the growth of the global Fruit Jerky market over the forecast period.
Among all the regional markets, North America is estimated to dominate the Fruit Jerky market in terms of revenue share, followed by Europe and Asia Pacific. Asia Pacific and Latin America are expected to register higher growth in terms of value over the forecast period.
Global Fruit Jerky Market Key Players
Some of the key market participants in the global Fruit Jerky market are Snact Limited, Stretch Island Fruit Co. Peaceful Fruits', Solely, Stuart & Co. Primal spirit food Inc. Vegan Dream, Louisville Vegan Jerky Co. Cocoburg LLC, MightyBee Ltd. The Herbivorous Butcher, Other prominent players
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