by Dried food products such as dried fruits and vegetables, dried meat products, dried dairy products and grains have gained immense popularity in the last few decades. They offer higher shelf life compared to fresh food as the moisture content is removed or reduced significantly through various drying techniques such as spray drying, freeze drying, sun drying etc. This allows people to store and consume dried food products for longer duration without refrigeration. Dried food is highly preferred by trekkers, travelers and campers due to its lightweight and excellent nutrient retention. Technologies facilitating innovative packaging solutions have further enhanced the shelf life of dried food.
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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends witnessed in the dried food market is the increasing demand for organic and clean label options. Consumers are shifting towards organic dried food products with no artificial preservatives due to rising health concerns. Manufacturers are focusing on developing non-GMO and natural ingredients based dried food to cater to this demand. Products with no additives, preservatives or artificial colors are gaining traction. Another key trend is the growing consumption of customization and variety in dried food offerings. Companies are launching unique flavors and specialty assortments to attract millennial consumers who prefer interesting product choices and blend of flavors. Advances in drying technologies are also facilitating development of novel formats and textures in dried food to enhance sensory experience for consumers.
Porter’s Analysis
– Threat of new entrants: The threat of new entrants is low due to high capital requirement and well established key players in the dried food market.
– Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of substitute products.
– Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials are commoditized.
– Threat of new substitutes: The threat of new substitutes is moderate as new product innovations are regular.
– Competitive rivalry: Competition is high among key players to gain market share.
Key Takeaways
The Global Dried Food Market Share is expected to witness high growth. 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 related content comprises the Asia Pacific region is expected to be the largest and fastest growing market for dried food during the forecast period due to increasing population and rise in demand for packaged food. Europe and North America are also expected to hold major shares in the global market.
Key players related content comprises 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.
