Prepared Dry-Foods Market size is forecast to reach $15.37 billion by 2025, growing at a CAGR of 7.80% during the forecast period 2020-2025. Prepared dry foods are processed food products treated with heat to remove their water content, which makes it inhospitable to most microbes and thus increases the shelf life of the food product. Demand for simple cooking meals and seafood by the working-class population, changing consumption habits of consumers towards nutritional diet and economical prices, and easier transportations are driving the market growth in recent years. In addition, major market development of key players like Conagra and Kellogg are other factors driving the growth of the market.
Type – Segment Analysis
Dehydrated Potatoes held the largest share in the type segment of the Prepared Dry-Foods Market in 2019 and is estimated to grow at a CAGR of 6.80% during the forecast period 2020-2025. Dehydrated potatoes are a simple way to prepare the favorite mashed potato recipe in far less time than it takes to make the dish from scratch. Fresh foods are always best as they don’t contain additives and preservatives, but dried potatoes do offer certain vitamins and minerals, such as potassium and vitamin C. In addition, storing dehydrated potatoes is much easier owing to less moisture and weight. This has resulted in a rapid surge in the demand of dehydrated potatoes in recent years. Pizza products is set to be the fastest-growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025, owing to the launch of various veg pizzas and awareness about health benefits by eating vegetable dried pizza products.
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Application – Segment Analysis
Meal Supplement held the major share in the application segment of Prepared Dry-Foods Market in 2019. Dried fruits and fruit leathers can be used as snack foods; dried vegetables can be added to soups, stews or casseroles. Campers and hikers value dried foods for their light weight, keeping qualities and ease of preparation. Dried foods have more calories on a weight-for-weight basis owing to their nutrient concentration. Along with the main food, prepared dry foods act as a great source of nutrition, which has resulted in greater awareness among the people, and hence, drives the market growth. Meal Replacement segment is forecast to grow at the fastest rate with the highest CAGR during the forecast period 2020-2025, owing to launch of shifting lifestyle towards faster life, demand for faster cookables and increasing key investments in nutritional replacements of meals in the form of dried foods by major market players.
Geography – Segment Analysis
North America dominated the geography segment of Prepared Dry-Foods Market in 2019 with a share of more than 42.70% in 2019, followed by Europe. Growing awareness about the health benefits offered by Prepared Dry-Foods, increasing demand from the urban population for fast cookable and nutritious foods in place of conventional meals and presence of key market players in the region have helped in the growth of Prepared Dry-Foods Market infrastructure in this region. Europe held the second place in the geography segment share of the market, owing to shifting consumer lifestyle towards faster eating habits and growing awareness about benefits of dried food meals among the people in this region.
Asia-Pacific is estimated to grow at the fastest rate at a higher CAGR during the forecast period 2020-2025. This is owing to rapidly increasing demand for easily cookable and nutritious foods, entry of new market players in the region, and increasing disposable income of the population.
Drivers – Prepared Dry-Foods Market
Growing demand for simple cooking meal by the working class population
Major numeric and socioeconomic changes in the last two decades, such as increasing population, increasing disposable incomes, rural to urban movement, increase in rural per capita productivity has resulted in major shifts in food consumption trends and production patterns in developing countries. There is a rise in demand for easy cooking foods, which has resulted in more consumption of prepared dry foods in this region. This is set to drive the market growth in the forecast years 2020-2025.
Easier storage and transportation of dried foods
Removal of moisture content through drying has numerous benefits. It enables easier handling at lower cost owing to reduced bulk and reduced space required during storage and transportation and can be stored at ambient temperature. This results in lesser costs of dried foods in the long run. This is projected to drive the demand for Prepared Dry-Foods, and consequently help in market growth during the forecast period 2020-2025.
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Challenges – Prepared Dry-Foods Market
Higher price of Prepared Dry-Foods
Though storage and other conveniences have resulted in lower prices of dry foods, the raw materials used result in consequent higher prices, and hence, the prices still tend to be higher. Thus, it is anticipated to hamper the market growth during the forecast period 2020-2025.
Prepared Dry-Foods Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Prepared Dry-Foods Market. In 2019, Prepared Dry-Foods Market share is consolidated by the top players present in the market. Prepared Dry-Foods Market top 10 companies are Oregon Freeze Dry Inc., ConAgra Foods, Inc., Agrofert Holding, European Freeze Dry Ltd, Joseph’s Pasta Company, McCain Foods Limited, Kellogg NA Co., Kerry Group Plc., OFD Foods Inc. and Van Drunen Farms among others.
In April 2018, OFD Foods acquired with a new, $25 million manufacturing plant in Henrietta, NY on Thursday at a ceremony attended by company representatives and state and local officials, Empire State Development announced in a press release.
In July 2019, Conagra Brands launched a robust pipeline of new food innovation.
In October 2018, Kellogg launches its first digital food drive on Amazon to make it easier than ever to help feed people in need.
North America dominated the Prepared Dry-Foods Market in the year 2019 owing to increasing awareness about the health benefits offered by Prepared Dry-Foods, increasing demand from the urban population for fast cookable and nutritious foods in place of conventional meals and presence of key market players in the region. The Prepared Dry-Foods Market scope for different regions will be provided in the final report.
Growing demand for simple cooking meal by the working class population, changing consumption habits of consumers towards nutritional diet and economical prices and easier transportations in upcoming years is estimated to drive the industry growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Prepared Dry-Foods Market report.
Higher price of Prepared Dry-Foods are anticipated to hamper the market growth of the Prepared Dry-Foods Industry.
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B. Food Processing Ingredients Market
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