by The dried food market has witnessed substantial growth in the recent years. Dried foods such as dried fruits, vegetables, herbs, meat, and seafood offer high convenience and portability for extended shelf life. Freeze drying is one of the most commonly used techniques in food drying as it retains nutrients and flavors of foods better than conventional drying methods. Advancements in freeze-drying technologies have enabled production of high-quality dried foods while improving efficiency.
The Global dried food market is estimated to be valued at US$ 50.82 Mn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period from 2024 to 2031.
Key Takeaways
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., and Solvay SA.
The significant offers Dried Food Market Growth opportunities in product innovations catering to changing consumer preferences for convenient and healthy snacking options. Advancements in freeze-drying technologies allow manufacturers to offer novel product formats and ingredient combinations.
Technological advancements in freeze-drying such as vacuum assisted freeze drying and optimized freeze-drying cycles are enabling mass production of high-quality dried foods while improving throughput.
Market Drivers
Increasing health consciousness among consumers is driving the demand for dried fruits and vegetables as healthy snacking alternatives. Rising disposable incomes in developing regions are also fueling the demand. Growing food processing and food service industries reliance on dried ingredients for new product formulations acts as a key growth driver for the market.
Current challenges in dried food market:
The dried food market is facing several challenges that are hindering the growth of the market. Declining consumption rates owing to changing consumer preferences towards fresh foods is a major challenge. Also, drying food requires high energy input which increases production costs. High intensity of competition among existing players due to limited product differentiation is another challenge. Strict regulatory norms regarding preservatives and additives used in dried foods limit product innovation. Supply chain disruptions due to pandemic outbreaks impact the market negatively.
SWOT Analysis
Strength: – Dried foods have long shelf life without refrigeration which provides convenience to consumers. Weakness: – Drying process reduces nutritional value of foods to some extent. Opportunity: – Growth in demand for organic and natural dried foods presents new opportunities. Threats: – Vulnerability to climate change impacting raw material supply is a threat.
The North American region dominates the dried food market with around 35% value share. Increased health consciousness and adoption of ready-to-eat snacks drive market growth in the region. The Asia Pacific region holds the second largest share and is estimated to be the fastest growing market for dried foods. Rapid urbanization, rising incomes, and shifting preferences towards convenience foods support market expansion in Asia Pacific countries like India and China.
The dried food market in Latin America is witnessing significant growth fueled by increasing working population and tourism industry expansion. Countries like Brazil and Mexico are witnessing increased demand for dried fruits, dried vegetables, and instant dried mixes to meet food and beverage needs. Developing economies in regions like the Middle East and Africa offer new opportunities for market players driven by growing middle class population and inflation resistant property of dried foods.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
