The dried food market is estimated to be valued at US$ 44.11 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The dried food market includes products like dried fruits, dried vegetables, dried spices, and dehydrated food. These products have a long shelf life and are easy to store and transport. They are widely used in foods like soups, snacks, cooked meals and beverages. The increasing demand for convenience food is driving the growth of the dried food market.

Market Dynamics:

Rapid urbanization is one of the key drivers for the growth of the dried food market. As more people migrate to cities for employment opportunities, their lifestyle becomes more fast-paced and hectic. This increases the demand for convenience foods that can be easily cooked and consumed. Dried foods have a long shelf life and do not require refrigeration, making them very convenient. Also, emerging markets in developing countries are experiencing rising disposable incomes. This allows consumers to spend more on premium dried foods and food ingredients. The market players are innovating their product portfolio by introducing organic, gluten-free and healthy dried food options to cater to the health consciousness of consumers.

SWOT Analysis

Strength: Dried food products have a long shelf life which helps reduce food wastage. They are easily transportable and require less storage space. The drying process helps retain most of the nutrition in food.

Weakness: Dried foods tend to lose flavor, texture and aroma compared to fresh foods. The processing required for drying food makes dried foods more expensive than fresh alternatives. Rehydrating dried foods to restore texture and flavors requires time and effort.

Opportunity: Rising health awareness is increasing the demand for nutritious on-the-go snacks. This works in favor of dried fruits and vegetables which are rich in vitamins and minerals. Growing urbanization and busier lifestyles are prompting demand for convenient packaged food options like dried foods.

Threats: Advancements in food processing and refrigeration technology could reduce the need to consume dried foods for preservation purposes. Changing consumer preferences towards fresher and natural foods pose a challenge for dried food products seen as ultra-processed. Stringent food safety regulations increase production costs for dried food manufacturers.

Key Takeaways

The Global Dried Food Market Size is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing health awareness among consumers. Dried fruits and vegetables are gaining popularity as healthier snack options due to their nutritional value.

Regional analysis: North America dominates the dried food market currently, accounting for over 30% of global sales in 2023. However, Asia Pacific is expected to emerge as the fastest growing market, exhibiting a CAGR of around 8% till 2030. Rising incomes, growing purchasing power and awareness of health benefits are driving demand for dried foods in Asia Pacific countries like India and China.

Key players:

Key players operating in the dried food market are Nestlé S.A., Unilever, General Mills, Inc., Mondelez International, Inc., and Kellogg Company. These companies are investing in new product development and innovations like organic, gluten-free and high protein dried food lines to target health-conscious consumers. Partnerships with local brands and retailers are part of their strategies to penetrate regional markets like Asia Pacific and Latin America with high growth potential.

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