The new report by Expert Market Research titled, ‘Global Fruits Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global fruits market, assessing the market based on its segments like nature, types, distribution channels, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3.5%
The increasing consumer spending on fruits owing to the high fibre and vitamin content in fruits, increasing inclination towards health and fitness, and growing popularity of a variety of various fruits varieties, such as avocado, blueberries, and dragon fruits, among others, are the major driving factors in the market. In addition, the increasing consumption of fruit salad in household, owing to the hassle-free and low-cost preparation, is anticipated to boost the market growth in the forecast period. In terms of region, the Asia Pacific region accounts for a significant share in the market owing to the high rate of fruit farming in India and China. This can be attributed to the large population base and increasing standards of living.
Industry Definition and Major Segments
Fruit is defined as a fleshy, juicy, or dry ripened ovary of a flowering plant which encloses the seeds. Fruits can be sweet, sour, or pulpy, and the main function of the product is to spread the seeds, allowing the plant to reproduce. In addition, fruits are widely consumed owing to its richness in nutrition, and the presence of health-boosting antioxidants and flavonoids. Moreover, eating fruits can boost a person’s immunity, and reduce the risk of heart diseases.
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On the basis of nature, the market can be segmented into:
Based on type, the market can be classified into:
• Apple and Pears
• Stone Fruits
• Tropical and Exotic
The market can be segmented based on distribution channel into:
• Supermarkets and Hypermarkets
• Fruits and Vegetable Store
The major applications of the product include:
The regional markets for fruit include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends in the fruits market include the increasing sales of organic fruits through the retail and online routes owing to the increasing number of fruits consumers. Online platforms, such as Amazon and Blinkit, offer variety of organic fruits without any chemical additives, along with door-step-delivery. Furthermore, the increasing demand for fruits in dessert, puddings, and ice creams is anticipated to propel the market growth. The increasing dine-out activities and growing popularity of fruity desserts and refreshments is likely to be a key trend in the market. Moreover, the market will further be aided by the growing popularity of fruit-based beverages as they are refreshing and natural. Hence, these trends are likely to augment the market in the forecast period.
Key Market Players
The major players in the market are Dole Food Company Inc., Del Monte Foods Inc., Chiquita Brands International Sàrl, Greenyard NV, and Sunwest Fruit Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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