Prepared Dry-Foods Market Overview
Prepared Dry-Foods Market size is estimated to reach $16.8 billion by 2027, Furthermore, it is poised to grow at a CAGR of 7.8% over the forecast period of 2022-2027. Prepared dry foods are processed food products mostly treated with heat for removing the content of water which makes it unfriendly for most of the microbes and also increases the shelf life of the product. Prepared dry foods are effective and have longer shelf life owing to the presence of less moisture. Prepared dried foods can be stored in airtight containers and don’t even need any dedicated container. Ionizing radiations technology has been increasingly used to extend the shelf life of dry foods. An increase in the demand for ready meals and dehydrated foods among the working population, growing demand for potassium metabisulfite as a food preservative in dry foods, the rise in the awareness about the benefits of dried food meals, and growing demand for long shelf life foods are the factors that are set to drive the growth of the Prepared Dry-Foods Market for the period 2022-2027.
Prepared Dry-Foods Market Report Coverage
The report: “Prepared Dry-Foods Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Prepared Dry-Foods Market.
- Geographically, North America Prepared Dry-Foods Market accounted for the highest revenue share in 2021 and it is poised to dominate over the period 2022-2027 owing to the growing demand for Ionizing radiations technology to extend the shelf life of dry foods.
- The growing demand for dehydrated potatoes in the preparation of an extensive variety of recipes is driving the growth of the dehydrated potatoes segment. However, the high cost of prepared dry foods is one of the major factors that is said to reduce the growth of the Prepared Dry-Foods Market.
- Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Prepared Dry-Foods Market report.
Prepared Dry-Foods Market: Market Share (%) by region, 2021
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Prepared Dry-Foods Market Segmentation Analysis- By Type
The Prepared Dry-Foods Market based on the Type can be further segmented into Dehydrated Potatoes, Mexican Food, Dry Mixes, Dry Diners Pasta Rice Mixers, Pizza Products, and Ethnic Specialties. The Dehydrated Potatoes segment held the largest share in 2021 owing to its application in the preparation of an extensive variety of recipes. Dehydrated potatoes are a simple way to prepare the favorite mashed potato recipe in far less time. Ionizing radiation technology has been increasingly in dehydrated potatoes to extend their shelf life. Storing dehydrated potatoes is much easier owing to the less moisture and weight, which is driving the growth of the Prepared Dry-Foods Market.
The Pizza Products segment is estimated to be the fastest-growing segment with a CAGR of 8.9% over the period 2022-2027. This is owing to the factors such as the rise in the product launches of various veg pizzas and an increase in the awareness about the health benefits of eating vegetable dried pizza products among the customers.
Prepared Dry-Foods Market Segmentation Analysis- By Distribution Channel
The Prepared Dry-Foods Market based on the Distribution Channel can be further segmented into Supermarkets/Hypermarkets, Online Stores, Convenience Stores, and Others. The supermarkets/Hypermarkets segment held the largest share in 2021 owing to the availability of a wide range of prepared dry foods with different brands and price ranges. The presence of distinct product shelves coupled with attractive schemes in supermarkets has improved the buying experience of the customers, which is driving the growth of the Prepared Dry-Foods Market.
The Online Channels segment is estimated to be the fastest-growing segment with a CAGR of 8.5% over the period 2022-2027. This growth is owing to the factors such as the growing demand for digitalized shopping experience among the customers and a rise in the demand for door-stop delivery.
Prepared Dry-Foods Market Segmentation Analysis- By Geography
The Prepared Dry-Foods Market based on the 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 35% of the overall market in 2021. The growth in this segment is owing to the factors such as the increase in the awareness about the health benefits offered by prepared dry foods, growing demand for potassium metabisulfite as a food preservative in dry foods, and rising demand for fast cookable and nutritious foods in place of conventional meals among the working population. The presence of key players in the region is driving the growth of the Prepared Dry-Foods Market.
Asia-Pacific is estimated to be the fastest-growing segment over the period 2022-2027. The growth in this segment is owing to the increase in the demand for ready meals, the growing demand for dehydrated potatoes, and the increase in the shift of consumer lifestyle towards faster-eating habits.
Prepared Dry-Foods Market Drivers
The Rise in the Demand for Ready Meals is a Key Factor in Market Growth.
There is a rapid increase in the demand for ready meals owing to the rise in the working-class population, increasing rural to urban movement, and a rise in the rural per capita productivity. According to the survey by the National Center for Biotechnology Information (NCBI) in 2019, 97% of the participants have reported daily consumption of ready meals. This increase in the demand for ready meals has propelled the demand for dry foods, which is driving the growth of the Prepared Dry-Foods Market.
Increasing Adoption of Long Shelf Life Foods is Propelling the Market Growth.
According to the European Food Information Council (EUFIC), the demand for packaged foods is estimated to rise by 377% in the coming years owing to the growing adoption of long-shelf-life foods. The booming quick-service restaurant industry is inclining towards prepared dry foods owing to their long shelf life and easy usability. Owing to its long shelf life, prepared dried foods can be stored in an airtight container and don’t even need any dedicated container, which is driving the growth of the Prepared Dry-Foods Market. Ionizing radiations technology has been increasingly used to extend the shelf life of dry foods, which is further propelling the growth of the market.
Prepared Dry-Foods Market Challenges
The High Cost of Prepared Dry Foods is Hampering the Growth of the Prepared Dry-Foods Market.
According to the U.S. Bureau of Labor Statistics, prices for dried prepared foods are 194.44% higher in 2022 and an average inflation rate of 2.43% per year. The high cost of prepared dry foods is one of the major factors that is estimated to reduce the growth of the Prepared Dry-Foods Market. Though storage and other conveniences have resulted in lower prices of prepared dry foods, the raw materials used in the preparation of dry foods result in consequent higher prices.
Prepared Dry-Foods Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Prepared Dry-Foods Market. The top 10- Prepared Dry-Foods Market companies are-
- ConAgra Foods Inc
- Oregon Freeze Dry Inc
- McCain Foods Limited
- Kellogg NA Co
- Agrofert Holding
- European Freeze Dry Ltd
- Joseph’s Pasta Company
- Kerry Group Plc
- OFD Foods Inc
- Van Drunen Farms
- In January 2021, Duncan Hines, a part of Conagra Brands Inc unveiled fun, colorful, and totally over-the-top baking kits that are ideal for home purposes. This EPIC Baking Kit is available in five flavors such as Cookies & Cream Cookie Kit, Salted Caramel Brownie Kit, Cookie Dough Cookie Kit, Fruity PEBBLES™ Cake Kit, and S'mores Brownie Kit. These kits give fans of the cereal another way for enjoying the vibrant flavors of their favorite cereals.
- In June 2020, European Freeze Dry has launched a range of gourmet prepared dry foods to be used in high-quality snacks and ready meals. These products retain their flavor, structure, and nutritional value. The company is constantly working with new flavors to create the best possible prepared dry foods.
- In November 2019, McCain Food Limited has expanded its dehydrated potato specialty production line at its Grand Falls, New Brunswick facility by spending $80million. This expansion is estimated to enhance the production capacity of prepared dry foods. This expansion is aimed to meet the increasing customer demand for the fast-growing market segment.