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LONDON, Nov. 14, 2023 (GLOBE NEWSWIRE) — The Business Research Company’s Air-Dried Food Global Market Report 2023 brings forth an optimistic outlook, forecasting substantial growth from $101.36 billion in 2022 to $109.75 billion in 2023, showcasing an impressive compound annual growth rate (CAGR) of 8.3%. The air-dried food market trajectory indicates continued expansion, reaching $146.15 billion by 2027, maintaining a robust CAGR of 7.4%.
Catalyst for Growth: Surging Consumption of Convenience Foods
The driving force behind this remarkable growth is the escalating demand for air-dried foods, spurred by the increasing consumption of convenience foods. Convenience foods, encompassing frozen, dried, or canned options, have become a staple in modern diets. Air-drying, a convenient preservation technique, not only extends shelf life but also aligns with the growing preference for easy-to-prepare and store foods. For example, insights from Food and Drinks Malaysia by SIAL Group highlight a 3.0% increase in the Malaysian convenience food sector’s volume in 2023, poised to reach 7,829.2 kg by 2027. Additionally, the revenue from convenience food in Malaysia is expected to rise by 5.49% during 2022–2027, reaching $31.84 billion in 2022.
Learn More In-Depth On The Air-Dried Food Market
Air-Dried Food Market Leaders
Key players steering the air-dried food market include Nestle S.A., PepsiCo. Inc., Unilever Group, Mars Incorporated, and Mondelez International Inc. This robust lineup of industry leaders underscores the market’s vibrancy and the commitment to meeting evolving consumer preferences.
Trend Spotlight: Product Innovations
Innovation takes center stage as a key trend in the air-dried food market. Major companies, exemplified by Crispy Green, are at the forefront of product innovations. Crispy Green’s launch of Piña Picante, an inventive line of dried pineapple snacks, showcases a commitment to unique flavor profiles and delightful textures. Such innovations contribute not only to market growth but also to meeting the ever-changing demands of consumers.
Regional Dynamics and Market Segmentation
North America held the leading position in the air-dried food market in 2022, with Asia-Pacific emerging as the fastest-growing region in the forecast period.
The air-dried food market is intricately segmented based on product type (fruits and vegetables, herbs and spices, meat and seafood, and other products), form (powder, granules, flakes), technique (hot-air dried food, freeze-dried food), distribution channel (supermarkets and hypermarkets, convenience stores, online retailers), and end-user categories (processed food industry, HoReCa sector, household, and other end-users).
Get A Free Sample Of The Global Air-Dried Food Market Report
In conclusion, the Air-Dried Food Global Market Report 2023 is a valuable resource for industry players seeking to capitalize on the dynamic landscape of the air-dried food market. By leveraging the insights provided, businesses can navigate market trends, embrace innovative approaches, and cater to the increasing demand for convenience foods. Seize the opportunity to propel your business to new heights by aligning with consumer preferences and market dynamics.
Air-Dried Food Global Market Report 2023 by The Business Research Company provides insights on the air-dried food market size, air-dried food market segments, air-dried food market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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