The global frozen fruit bar market size is expected to reach USD 18.43 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.5% during the forecast period. Rising demand for innovative flavors coupled with the tendency of impulse buying among consumers is expected to drive the growth.
Asia Pacific is expected to witness the fastest growth in near future, owing to supportive government policies and growing population. North America is estimated to hold the maximum market shares of approximately USD 4.42 million by 2025. As a result of growing demand for tropical fruits in U.S. and European countries, many large scale manufacturers are getting into the market, especially in developed regions like Europe and U.S., among others.
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Frozen fruit bars are available in various flavors. The circus flavor is projected to hold the maximum market share of approximately USD 2.32 million by 2025. Availability of variety of flavors and rising consumption of frozen fruit bars as snack are some of the major market drivers.
Manufacturers are introducing innovative new products by including exotic organic flavors, functional ingredients, and herbal fillings, in product formulations to meet the consumer demand. For instance, companies are making other exotic flavors such as lemons, coconuts, and tropical fruits to bring variety. Companies are making low-fat and low-calorie bars to cater to high demand from health-conscious consumers, which is expected to further drive the product demand.
Further key findings from the report suggest:
• Asia Pacific is expected to expand at a CAGR of 11.5% over the forecast period, due to the growing demand for organic and health fruit products
• India held 36.26% of the overall Asia Pacific frozen fruit bars market in 2018 on account of high demand for different tropical fruits
• The low fat product segment is expected to witness the fastest growth owing to the growing demand for low calorie products
• Manufacturers are aiming to achieve optimum business growth by implementing strategies such as acquisitions, joint ventures, capacity expansions, new product developments, promotion of key product brands, and significant investments in R&D
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Grand View Research has segmented the global frozen fruit bar market on the basis of product, flavors, and regions:
Frozen Fruit Bar Product Outlook (Revenue, USD Thousands, 2015 - 2025)
• Original
• Low Fat
Frozen Fruit Bar Flavors Outlook (Revenue, USD Thousands, 2015 - 2025)
• Citrus
• Pineapple
• Grape
• Apple
• Mango
• Coconut
• Others
Frozen Fruit Bar Regional Outlook (Revenue, USD Thousands, 2015 - 2025)
• North America
o U.S.
• Europe
o U.K.
o Germany
• Asia Pacific
o China
o India
• Central & South America
o Brazil
• Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.