The Dried Food Market Consists Of Food Products Which Have Undergone Drying Processes To Improve Shelf Life
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Dried Food Market |
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.
Get More Insights Here
https://whotimes.com/unlocking-climate-solutions-understanding-global-carbon-credits/
https://www.newswirestats.com/dried-food-market-size-share-growth-outlook-2023/
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