Dried Food Market Is Estimated To Witness High Growth Owing To Opportunity For Improving Shelf Life

Dried foods like fruits, vegetables and meat are foods that have had most of the moisture removed from them for preservation purposes. Dried foods have a longer shelf life compared to fresh foods and also help reduce food wastage. Drying foods helps limit the growth of microorganisms like bacteria, yeast and mold, which require moisture in order to survive. This prevents spoilage and allows dried foods to maintain nutritional value, taste and texture over long period of storage without need for refrigeration.

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 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity for improving shelf life of foods is estimated to drive growth of the dried food market. Food drying helps extend shelf life of foods from days to several months without need for refrigeration. This reduces dependence on cold storage infrastructure for food storage and distribution. Longer shelf life of dried foods also provides opportunity for stockpiling food and reduces chances of wastage. Rising concerns about food wastage especially with perishable foods is encouraging adoption of food drying technology. Improved shelf life allows dried foods to remain usable and consumable for longer duration compared to fresh foods, offering convenience to both consumers and food suppliers. This is expected to significantly boost demand in the dried food market over the forecast period.

Porter's Analysis

Threat of new entrants: Low risk as dried food industry requires large capital investments and well established distribution channel. Brand loyalty is high among customers.

Bargaining power of buyers: High as the market has numerous dried food manufacturers. Customers can negotiate on price and find substitute easily.

Bargaining power of suppliers: Moderate as major raw materials like fruits, vegetables, cereals and seasoning are seasonal in nature. Suppliers have some control over pricing.

Threat of new substitutes: Low threat as dried foods have certain advantages over fresh foods like longer shelf life and easy storage. However, fresh foods pose competition.

Competitive rivalry: High as major players compete on factors like pricing, quality, taste and product differentiation.

SWOT Analysis

Strength: Dried foods have long shelf life, require less storage space and transportation costs are low. Products have nutritional value retention.

Weakness: Processing and drying techniques can impact nutritional value. Perception of inferior quality compared to fresh foods.

Opportunity: Growing health conscious population and demand for convenience foods provide market opportunity. Popularity of regional/ethnic dried foods is increasing.

Threats: Stringent food safety regulations. Volatility in raw material prices impact manufacturing cost.

Key Takeaways

The Global Dried Food Market Share is expected to witness high growth over the forecast period. Rapid urbanization and changing lifestyles have increased demand for convenient ready-to-eat foods. 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 2024 to 2031.

Regional analysis shows that Asia Pacific dominates the global dried food market and is expected to grow at fastest rate during forecast period. Countries like India, China and Indonesia provide huge market potential led by rising disposable incomes, population and demand for nutritional food products. North America and Europe are also major revenue contributors due to high health awareness.

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. Major players focus on new product innovation, mergers & acquisitions to strengthen market presence and service wider customer base.
Get More Insights Here

https://whotimes.com/unlocking-climate-solutions-understanding-global-carbon-credits/

https://www.trendingwebwire.com/dried-food-market-size-share-growth-outlook-2023/