The dried food market involves a wide variety of food products that are preserved through removing moisture from fresh foods so they can be stored and transported for longer periods of time. Common dried foods include fruits, vegetables, meat, grains and dairy. Dried foods offer advantages of convenience as they have long shelf lives without refrigeration and can easily be reconstituted with water prior to consumption. They are popular options for breakfast cereals, snacks, spice mixes and more.
The global dried food market is estimated to be valued at US$ 50.82 Mn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period of 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the dried food market is the strong demand for convenience foods. Dried foods are extremely convenient to store and consume as they do not require refrigeration and can last for many months. This makes them suitable options for busy lifestyles and occasions needing portable meals. The Covid-19 pandemic has further accelerated the demand for convenient snack and meal options as more people spend time at home. Another driver is the wide variety and health benefits of dried fruits and vegetables. Products like dried cranberries, apricots and mushrooms offer nutrients, fiber and antioxidants. This increases their popularity as nutritious snack choices.
SWOT Analysis
Strength: The dried food market offers ease of storage and transportation for food products as dried foods do not spoil easily and occupy less space. Dried foods also help in preserving nutrients of foods for a longer duration. With increasing health consciousness, dried fruits and nuts segment is gaining popularity as they are considered healthy snacks or add ons in cereals and baked products.
Weakness: Dried foods need sophisticated processing and packaging systems to retain their quality and nutrients which increases overall production costs for manufacturers. The drying process can lead to loss of certain vitamins and minerals from foods. Consumer perception of dried foods being low in taste and quality compared to fresh foods is also a challenge.
Opportunity: Growth of retail sector, rising disposable incomes and changing consumer lifestyles in developing countries is generating demand for convenient, ready to eat snacks including dried foods. Increasing awareness about nutritional benefits of dried foods especially dried fruits and pulses offers new opportunities. Innovation in processing technologies is helping manufacturers address issues related to nutrient retention during drying.
Threats: Rising energy and transportation costs can increase overall operational costs. Strong bargaining power of retailers over manufacturers is another concern. Growing health issues related to excessive consumption of sodium and sugar in some dried food variants is limiting their demand. Dependence on agricultural commodities as raw materials exposes dried food business to price volatility.
Key Takeaways
The Global Dried Food Market Share is expected to witness high growth over the forecast period supported by increasing health awareness and changing dietary habits. The global dried food market is estimated to be valued at US$ 50.82 Mn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period of 2024 to 2031.
Regional analysis: The Asia Pacific region accounts for around 35% value share in the global dried food market led by countries like India, China, Indonesia and Thailand. High population, increasing food processing capabilities, growing retail sector and changing dietary habits has been driving dried food demand in the region. Furthermore, greater focus on incorporating healthy and nutritious ingredients in diet along with rising disposable incomes in developing Asia Pacific countries will further support market growth over the forecast period.
Key players: Key players operating in the dried food market are The DyStar Group, Lonsen, The Lubrizol Corporation, The Dow Chemical Company, Kiri Industries, Huntsman Corporation, BASF SE, Archroma, Omnova Solutions Inc., Solvay SA and Bayer Material Science. These companies are focused on new product launches, capacity expansions and partnerships to strengthen their market position. For instance, in 2019, The DyStar Group launched new plant-based amines and ethoxylates under the Fibrant brand name targeted at textile, paper and paint industries.
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https://www.newswirestats.com/dried-food-market-size-share-growth-outlook-2023/
The report offers a collection of superior Industry research, Industry analysis, competitive intelligence and Industry reports.The Global Freeze-Dried Food Market was projected to reach a CAGR of 8.03%, during the forecast period, 2021-2026.During the peak time of the COVID-19 pandemic, the concerns over food supply due to the lockdown and disturbance in the supply chain, globally, have seen impacted the consumers increasingly turn to the ambient category.
Owing to this the market has seen a sudden growth, especially during the peak buying months.Expanding food-processing sector and huge demand for ready-to-eat or convenience food products, among consumers, have considerably increased in recent years, owing to the busy work lifestyle and the increased number of the working population.
This, in turn, has led to an increase in the demand for freeze-dried fruits and vegetables to be used in snacks, soups, dressings, and bakery and confectionery products.
?Moreover, key drivers augmenting the market are the suitability of the freeze-drying technique for heat-sensitive food products, rise in freeze-dried pet food products, and incorporation of freeze-drying techniques in several food products, for longer preservation and convenient consumption.
?Asia-Pacific is the Fastest Growing Region for Freeze Dried Food ProdcutsThe freeze-dried food market in Asia-Pacific is experiencing rapid expansion, due to the increasing consumption of processed food and rising preference for ready-to-eat meals, owing to the rising trend of on-the-go lifestyles of consumers.
The interest of Chinese consumers for healthy and innovative products formulated with Chinese ingredients, which fit in their busy lifestyles, provides a great platform for foreign retail manufacturers to expand their businesses in the country.
