The dried food market comprises various types of food products which have been dried to preserve it from spoilage or decomposition. The drying process removes moisture from food products such as fruits, vegetables, meat, poultry, fish and dairy products making it inhospitable for the growth of microorganisms. Dried food products offer the advantages of longer shelf life, lightweight and reduced volumes making it convenient for storage and transportation. The growing health awareness among consumers regarding the health benefits of dried fruits and vegetables such as high fiber content, antioxidants, vitamins and minerals is driving the demand for dried food products.
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., Solvay SA, Bayer Material Science. These key players are focusing on new product launches, mergers, acquisitions and collaborations to gain a competitive advantage in the market.
The growing health awareness among consumers regarding the health benefits of Dried Food Market Size and vegetables is fueling the demand for dried food products. Dried fruits provide various health advantages such as heart health, vision health, weight management and anti-aging benefits. The increasing per capita income is enabling consumers to spend more on high quality premium dried food products.
The dried food manufacturers are exploring opportunities in developing economies owing to rapid urbanization, rising disposable incomes and growing population. The Asia Pacific region accounts for the largest and fastest growing market for dried food owing to rising living standards and health consciousness in countries such as India and China. South America and Middle East & Africa are also projected to offer lucrative growth opportunities for dried food manufacturers over the forecast period.
Market Drivers
Changing Lifestyle and Busy Work Schedules: With rapid globalization and changes in lifestyle, there is an increase in demand for convenient and ready-to-eat food options. The availability of dried food in light-weight, easy-to-carry packaging makes them ideal for busy consumers with hectic work schedules. This rising demand for convenient snacks is fueling the growth of dried food market.
Growth of Organized Retail: The thriving organized retail sector comprising supermarkets, hypermarkets and e-retailing is promoting the sale of branded, packaged dried food products. Organized retailers offer a variety of dried fruits and vegetables with nutritional information, which is attracting health-conscious urban consumers.
Impact of Geopolitical Situation on the Growth of Dried Food Market
The dried food market has been witnessing changing market dynamics owing to the geopolitical instability across various regions globally. The ongoing Russia-Ukraine conflict has significantly disrupted the export and import of dried food items from the black sea region which is one of the major suppliers. Wheat and corn exports from Ukraine and Russia account for around 30% of the global trade. The conflict has led to a sharp rise in commodity prices including wheat affecting the margins and sales volumes for dried food producers globally.
The pandemic related disruptions and lockdowns across major economies stalled tourism and travel which are major sales channels for dried food products. Dried fruits and snacks find major demand from airports, train stations etc. Slow recovery of international travels is hampering revival in demand from these distribution channels. However, stockpiling and bulk buying during the early pandemic phases supported growth. Producers will need to diversify geographies for sourcing raw materials and focus on expanding e-commerce channels to mitigate regional disruptions.
Geographical Regions with High Concentration in Dried Food Market
Currently, Europe accounts for the largest share in the global dried food market in terms of value. Countries such as Germany, UK, France are among the major consumers driven by rising health awareness and demand for convenient on-the-go snacks. North America particularly the USA is another major regional market supported by robust organized retail infrastructure and demand for premium dried products. However, emerging economies of Asia Pacific led by China and India are expected to outpace global market growth over the forecast period owing to rising incomes, urbanization and shift towards packaged foods. Latin America and Middle East & Africa also offer huge untapped potential for dried fruit, vegetable and meat producers looking to expand globally.
Fastest Growing Regional Market for Dried Food
The dried food market in Asia Pacific region especially South Asian countries is projected to witness strongest growth through 2031. Factors such as growing working population, nuclear family structure and expanding modern retail are fueling demand for packaged snacks, ready-to-eat meals and convenience foods. Countries like India with a large young population present big opportunities. In addition, changing lifestyles and rising health consciousness among urban middle class is supporting the uptake of dried fruits and vegetables perceived to be healthy alternatives to fried snacks. Chinese producers are also increasingly leveraging the opportunity by launching innovative dried food products customized for the region.
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