In Javascript, obj.property and obj['property'] return same things.
obj['property'] is more flexible because the key 'property' could be a string with some space :
obj['pro per ty'] // work
obj.pro per ty // not work
or
var a = 'property';
obj.a == obj.property // => false
obj[a] == obj.property // => true
So you could try that.
var data = [{"key":"fruit","value":"apple"},{"key":"color","value":"red"},{"key":"location","value":"garden"}]
var new_data = [];
var data_length = data.length; // just a little optimisation for-loop
for (var i = 0; i < data_length; i++) {
var item = data[i]; // to have a vision close of foreach-loop (foreach item of collection)
new_data[i] = {};
new_data[i][item.key] = item.value;
}
console.log(new_data);
// [{"fruit":"apple"},{"color":"red"},{"location":"garden"}]