Increasing Need for Low-Carbon-Footprint Edibles to Aid Sales of Packaged Fresh Fruits: Fact.MR Report
Published : 21 Oct 2021 Industry: Food & Beverage
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. Consumers today do not buy products blindly, but rather turn the packaging and inspect it for all of the ingredients that are present in the product. As such, packaged fresh fruits are an excellent choice because they contain no residue that harms the environment, and the natural essence that these fruits contain also has a positive impact on consumers.
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.
“Manufacturers are paying attention to consumers' overt & covert needs and preferences as global demand for packaged fresh fruits continues to evolve. Invariably, emphasis has shifted to incorporation of advanced packaging that conveys brand message,” says a lead analyst at Fact.MR.
Growing Veganism to Support Market Growth
The growing trend of veganism has compelled major food manufacturers and growers to develop products that meet the needs and standards of this growing population group. The number of people choosing veganism is growing at an exponential rate, and, as a result, the need to supplement the body with essential vitamins and minerals is growing as well. In such a case, fruits are an excellent choice, and the growing trend of veganism represents a lucrative business opportunity for packaged fresh fruit suppliers.
Who is Winning?
Providing packaged fresh fruits through online retailing formats is critical to the product's future marketing and business development. Selling fruits through these formats allows suppliers to reach a larger consumer base while also ensuring a global presence.
With the emergence of smartphones, there has been significant shift in consumers' traditional purchasing patterns, and with all of the convenience offered by online retailing, they are more attracted to this. Use of online retail is certain to increase demand and aid market growth for packaged fresh fruits.
Some of the leading companies offering packaged fresh fruits are Great Value, Del Monte, Dole Foods, Kirkland Signature, Kroger, Simple Truth, Crunch Pak, Chiquita Bites, Kitchen 22, POM, Sundia True Fruits, and Juicy Gems.
Get More Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the packaged fresh fruits presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on packaged fresh fruits based on nature (organic, natural, and conventional), variety (apples, bananas, peaches, grapefruit, mangoes, oranges, kiwi, lemons, pineapples, and pomegranates), and distribution channel (oReCa and retail sales), across seven major regions of the world.
About the Food & Beverages Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned food & beverage team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed the food & beverage industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant - Food & Beverages