Market study on candied and semi-frozen fruits: the demand for whole/intact candies will remain high in the future
New York, Nov. 16, 2022 (GLOBE NEWSWIRE) — Global consumption of candied and semi-candied fruits is currently pegged at 147,487 MT and is projected to increase at a CAGR of 1.5% to reach 171,272 MT by 2032 .
Over the years, the candied and semi-candied fruit market has become an indispensable ingredient in the food service industry. The market is thriving due to increased consumer demand for delicious sweets and their use as added value to culinary preparations. As pastry and bakery products are becoming more popular for use in festivities and decorations, the demand for candied and semi-candied fruits is also increasing.
Furthermore, as consumers in regions such as Oceania and Latin America increasingly gravitate towards the consumption of flavored confections and are attracted to attractive presentations in the foodservice sector, the global market will experience significant growth in the course of of the projection period.
Online retail sales of candied and semi-candied fruits are anticipated to grow steadily over the forecast period. People are drawn towards creative and delicious confections, which increases eCommerce sales and positively influences the target market. Major global market players strive for product diversity and create products that appeal to the tastes of consumers.
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Key takeaways from the market study
Demand for candied and semi-candied fruits in North America is expected to increase at a volume CAGR of 0.8% during the forecast period (2022-2032).
Latin America and Oceania together represent a market value share of 8%.
Sales of candied and semi-candied fruits in bakery applications are expected to reach US$215.5 Mn by 2032.
According to the distribution channel, sales of candied and semi-candied fruits in the food service segment have a market share of around 10% in 2022.
According to the formulary, the whole/intact category is expected to post a CAGR value of 2.7% over the forecast period (2022-2032).
“The increasing penetration of the foodservice industry in developing countries such as China, India and others is a potential growth factor for the candied and semi-candied fruit market. It is also estimated that the market will see increasing demand in the hospitality, institutional catering and food service industries,” says a persistence market research analyst.
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Companies are trying to expand their market presence and gain consumer loyalty for long-term benefits, as the bakery ingredients market is highly competitive and constantly changing. The general market focus of bakery ingredient manufacturers appears to be leaning toward expansion through acquisitions and the development of new and innovative products.
In December 2021, Andros Chef announced a strategic partnership with Indoguna, a well-known Singapore-based fruit and vegetable supplier. This partnership is expected to allow the company to increase its international presence and expand its customer base.
In March 2021 F.Moreno Confitadas Frutas SL partners with Amazon for the distribution and sale of candied fruits. This online presence of the company is expected to allow it to increase its brand awareness and expand its customer base.
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