Dried foods have a long shelf life and require less storage space than fresh foods making them ideal for stockpiling and storage. Dried foods like dried fruits, dried vegetables and dried meat are commonly used in trail mixes, snacks and ready meals. Dried ingredients are also used extensively in the food processing industry in products like soups, pasta dishes and pet foods among others. Advances in drying technologies have expanded the range of foods that can be dried like various cuts of meat, seafood and ready-to-eat meals.
The global dried food market is estimated to be valued at US$ 50.82 billion 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 growth of the dried food market is the rising demand for ready-to-eat meals and snacks. Dried ingredients allow manufacturers to develop products that do not require refrigeration and have long shelf lives. This makes dried food based ready meals very convenient for consumption while traveling or for emergency food stockpiles. The report highlighted another driver – advances in drying technologies that have enabled the drying of complex foods and ready meals. New drying techniques like spray drying allow for the effective drying of thermosensitive foods without loss of texture or flavors. This has supported the development of a wider range of innovative dried food products.
Segment Analysis
The dried food market is dominated by the packaged segment owing to its longer shelf life and convenience of use. Packaged dried foods such as dried fruits, dried vegetables, dried meat, and nuts are dominating the market as they provide easy portability and do not require refrigeration. Rising preference for convenient food among millennial and working population is driving the growth of packaged segment in the dried food market.
PEST Analysis
Political: Changes in import and export policies can impact the availability and prices of raw materials in the dried food market. Some regulations regarding food safety standards are also influencing the market.
Economic: Rising disposable income is increasing the demand for premium dried food products. Economic slowdowns can impact consumer spending on non-essential food categories.
Social: Changing lifestyles and increasing preference for convenience foods are boosting the demand for dried foods. Rising health consciousness is also fueling the demand for nutrient-rich dried fruits and vegetables.
Technological: Advances in food dehydration and packaging technologies are helping manufacturers in offering innovative products with better shelf life and sensory properties. Some new pretreatments are improving the rehydration ability of dried foods.
Key Takeaways
The Global Dried Food Market Share is expected to witness high growth over the forecast period owing to rising health awareness, changing lifestyles, and increasing demand for convenience foods. The global dried food market is estimated to be valued at US$ 50.82 billion in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period of 2024 to 2031.
Regional analysis
Asia Pacific region is dominating the dried food market with over 40% share due to growing population, rapid urbanization, rising disposable incomes, and changing food consumption patterns in major countries like India and China. India represents one of the fastest growing markets for dried foods in the region due to rising awarenss about nutrition rich dried fruits and vegetables.The dried fruits segment is growing at a high pace in countries like India, Sri Lanka, Bangladesh and Indonesia.
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. Key players operating in the dried food market are focusing on new product launches, production expansion, and mergers & acquisitions to strengthen their market position.
