Air Dried Vegetables Market - Forecast 2022 - 2027
Air Dried Vegetables Market Overview
Air Dried Vegetables Market size is estimated to reach $17.5 billion by 2027, growing at a CAGR of 8.1% during the forecast period 2022-2027. Air Dried vegetables are generally delineated as vegetables that are appropriately processed in order to confiscate the presence of moisture and water content so that their overall shelf life can be elongated. Drying averts spoilage preserves food by eliminating the presence of bacteria and yeast. Several vegetables such as peas, tomatoes, cabbages, carrots, shiitakes, and others are frequently dehydrated using technologies like vacuum drying, air drying, and freeze-drying. Besides dehydration, many countries practice food processing techniques like food irradiation according to their own standards to lengthen the product’s shelf life by delaying the ripening process. For instance, many European nations allow irradiation of only specific herbs and seasonings that too at specific doses, whereas, countries like Brazil allow irradiation of all foods. The global air dried vegetable market outlook is exceptionally enchanting as the preference for packaged food is growing year after year. Air drying techniques are better tested in expelling pathogens and preserving essential nutrients of the food. Prolonged shelf life, bacteria-free nature, rapid urbanization, and soaring trend of preserved foods are the factors set to drive the growth of the Air Dried Vegetables Market for the period 2022-2027.
Report Coverage
The report: “Air Dried Vegetables Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Air Dried Vegetables Market.
Key Takeaways
- Geographically, North America Air Dried Vegetables Market accounted for the highest revenue share in 2021. Furthermore, the Asia-Pacific region is poised to dominate the market over the period 2022-2027.
- Accruing demand for packaged food, rising world population, and changing tastes and preferences of people are said to be preeminent factors driving the growth of the Air Dried Vegetables Market. On Contrary, unstable supply chains due to virus outbreaks and environmental gridlocks are said to reduce market growth.
- Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Air Dried Vegetables Market report.
Air Dried Vegetables Market Segment Analysis - By Application
The Air Dried Vegetables Market based on the application type can be further segmented into households and commercial. The commercial segment held the largest share in 2021. The growth is owing to far-reaching applications in foodservice establishments like cafes, restaurants, and hotels. Besides food, Air Dried Vegetables are taken into account in the preparation of several confectionery items, cookies, and pungent snacks. Moreover, due to heightened pet adoptions throughout the globe, dried vegetables have assumed a bigger chunk in pet diets. However, the household segment is estimated to be the fastest-growing segment with a CAGR of 9.8% over the forecast period 2022-2027. This growth is owing to swift urbanization throughout the globe, especially in developing countries like China, India, Brazil, and others. On another hand, the reimposition of travel restrictions in the wake of intensification in the spread of COVID-19 has forced millions of individuals to coop up inside their homes which is another prominent reason behind the growth of the segment.
Air Dried Vegetables Market Segment Analysis - By Distribution Channel
The Air Dried Vegetables Market based on distribution channels can be further segmented into offline facilities (=supermarkets/hypermarkets, convenience stores, and others), and online platforms. The offline segment held the largest share in 2021. The growth is owing to a rise in modern retail outlets such as Supermarket/Hypermarkets channels all over the world. Moreover, the overall presence of these retail facilities is likely to augment as governments worldwide are approving massive financial assistance to ameliorate infrastructure in their respective country which is expected to allure investments and foreign businesses. For instance, in 2021 the Indian government publicized to spend a total sum of $1.4 trillion to improve infrastructure across the nation. Moreover, last year Biden administration got the Senate approval for its $ 1 trillion infrastructure rebuilding plan. Besides, retail outlets offer several facilities like sales assistance, touch and feel options, and also build up a personal touch between consumers and businesses. Moreover, the offline segment is estimated to be the fastest-growing segment with a CAGR of 9.3% over the forecast period 2022-2027. Unlike hardware appliances, people prefer to buy groceries in person as it is directly related to their health fueling the segment growth.
Air Dried Vegetables Market Segment Analysis - By Geography
The Air Dried Vegetables Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 37% of the overall market in 2021. The growth in this segment is owing to the factors such as affluent economies. The majority of the population of these continents resides in modern and well-built cities, therefore, can buy ready-to-eat meat kits at the drop of a hat. Moreover, high living standards, decent disposable income, and the widescale presence of modern retail outlets such as supermarkets are some of the distinguished factors driving the growth in these regions of the world. However, the Asia-Pacific segment is expected to be the fastest-growing over the forecast period 2022-2027. This growth is owing to prospering economies of nations such as China, India, Indonesia, Bangladesh, and others. Moreover, rapid digitalization and industrialization are ensuring the upliftment of thousands of people out of extreme poverty every year. In addition to that, people are migrating toward cities in their quest for quality life which can be a revolutionary factor in driving the growth of the global air dried vegetable market throughout Asia.
Air Dried Vegetables Market Drivers
The broadening trend of RTE food and rapid urbanization is Anticipated to Boost Product Demand.
The concept of packaged and RTE food is prevailing for so long in various countries. However, ascribing to globalization the trend has been adopted by many countries. In addition to that, the eventful lifestyles of millennials and rapid urbanization are contributing to their reasonable share in the growth of the respective market. According to a report, around 56.6% world population (i.e., around 4.2 billion inhabitants) were residents of cities in 2021. Moreover, the figure is expected to reach 68% by the year 2050. Migrating to cities means people will get more access to modern retail outlets, 24/7 shopping options, better lifestyles, and stable incomes which will eventually proliferate the demand. Also, the concept of nuclear families is taking precedence over the concept of joint families and is anticipated to be a prominent driver.
Enlarging population, health awareness, and disposable income is Expected to Boost Product Demand.
The world population is expanding so quickly that it is projected to cross 8.5 billion by 2030, according to United Nations and such an event is likely to enlarge the overall food demand. Moreover, the properties of Air Dried Vegetables are congruent with the budding demand for nutrient-rich and low-fat foods and proliferating health consciousness among people is driving them to make such purchases. Also, escalating GDP per capita income is ensuring purchasing capacity among people worldwide. Not only western nations where GDP per capita has reached over $65,000, but Asian nations such as Bangladesh, India, and China are too witnessing slight surges in their per capita figures. Thus, these factors are anticipated to play a significant role in market growth.
Air Dried Vegetables Market Challenges
Vulnerable supply chain and environmental complications are Anticipated to Hamper Market Growth.
Pesticides and other agrochemicals have become an inextricable part of today's agriculture practices. Therefore, so much use of such agents for augmenting the overall yield has severely impacted soil fertility. As a result, the soil is losing its richness and is likely to inflict adverse effects on vegetables' yield. According to Global Agriculture, each year, an estimated 24 billion tonnes of fertile soil are lost due to erosion. That’s 3.4 tonnes lost every year for every person on the planet. On the other hand, environmental hazards due to widespread pollution are preventing crops from having a conducive growth atmosphere impeding the product demand. Nevertheless, the impact of the COVID-19 on demand and supply chain cannot be ruled out and which in turn is anticipated to hinder the market growth.
Air Dried Vegetables Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Air Dried Vegetables Market. Key companies of this market are-
- Silva International
- BCFoods Inc.
- Mercer Foods
- Richfield Ltd.
- Olam International
- Jain Irrigation System
- Kerry Group
- Seawind Foods
- Harmony House Foods
- Suszarnia Warzyw Jaworski
Recent Developments
- On May 17, 2021, Olam food Ingredients, a division of Singapore-based food company “Olam International” announced the successful acquisition of California, United States-based spice manufacturing company “Olde Thompson.” A total of $950 million was made by Olam in order to wrap up the acquisition process.
- On October 1, 2020, Illinois, US-based “Universal Corporation”, a company that functions in the leaf tobacco business announced the successful acquisition of United-States-based fruit and vegetable processing firm “Silva International.” Universal made a payment of $170 million (all cash) in order to bring the acquisition to a close.
- On July 10, 2020, California, United States-based food product supplying company “BCFods, Inc” publicized that the company has acquired a vegetable dehydration facility from India-based food manufacturing company “Darshan Foods”. The acquired facility deals with garlic and onion desiccation. The acquisition is anticipated to help in the diversification of the supply chain of BCFood Group.
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