The global freeze-dried food market is forecasted to reach USD 85.30 billion by 2024, registering a CAGR of 8.03%
NEW YORK, Sept. 11, 2019 /PRNewswire/ --
Market Overview
The global freeze-dried food market is forecasted to reach USD 85.30 billion by 2024, registering a CAGR of 8.03%.
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- The market for freeze-dried foods is fragmented, and the products are not highly differentiated, which lead to reduced switching cost. This provides growth opportunities to new entrants in the market. The freeze-dried food market is gaining popularity and the leading companies are trying to gain sustainable competitive advantage through innovation.
- There has been a surge in the market for all forms of preserved food, owing to the trend of increasingly busy lifestyles. This, in turn, has resulted in increased demand for quick meal solutions and convenience food. Since preserved food products are easy and fast to prepare, they offer a perfect solution to this problem.
Scope of the Report
The global freeze-dried food market report is segmented by type and geography. By type, the market is segmented into freeze-dried fruits, freeze-dried vegetables, freeze-dried beverages, freeze-dried dairy products, freeze-dried meat, seafood, and prepared foods. By geography, the market reveals the major countries, the consumption scenario, and the country, where the market is progressing.
Key Market Trends
Rise in Clean-label Trend in Food and Beverage
In the developed markets, like the Americas and Europe, there is a rising trend of healthy snacks, which offers a great opportunity for the freeze-dried fruit and vegetable market. Consumers demand clean labels on products to gain knowledge about the product that they are about to consume and at what level. Their interest in identifying the ingredients present in the food & beverage products has triggered the growth of the clean-label ingredient market. The growing consumer focus on superior-quality ingredients that meet the clean-label requirement has driven the market. The major products driving the market in such markets are freeze-dried herbs, onions, potatoes, blueberries, cranberries, strawberries, sour cherries, and apples.
Asia-Pacific is the Fastest Growing Regions
Consumers in Asia-Pacific are increasingly purchasing freeze-dried vegetables, such as freeze-dried sweet potato, to make soups, taro porridge, fried taro, and many other traditional Chinese foods and dishes. People are also using a freeze-dried sweet potato to make many desserts, such as the Hot Candied Taro and milky taro tapioca pudding, which is popular in China. In India, consumers have started consuming fruit as a snack, due to which they are increasingly purchasing freeze-dried fruits. Freeze-dried products are also useful for travelers, as they prefer eating a light meal and looking for a convenient way to relish simple and delicious Japanese food. Companies, such as Amano Foods, are continuously using advanced technologies to develop freeze-dried foods that can be eaten anytime and anywhere.
Competitive Landscape
The freeze-dried foods market is entirely focused on business to consumer where major players in the market include: Ajinomoto, Asahi Group, Harmony house, and Graham partners, among others. The market is moderately competitive. Product innovation along with expansion is one of the key strategies that global players are adopting in order to stay ahead among competitors. The most active companies, globally, are Ajinomoto, Asahi Group, Harmony house, Graham partners, Expedition Foods, Lyovit, and Paradise fruits, among others. The manufacturers are focusing on expanding and introducing new products according to the consumers' changing preferences.
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