Freeze dried vegetables and fruits market to grow by $20 billion
According to a new report, the freeze dried fruit and vegetables market is set to grow due to the increasing popularity of packaged food.
A new report has predicted that the freeze dried vegetables and fruits market is set to grow from its current market value of more than $40 billion to over $60 billion by 2024.
The report, by Global Market Insights, said the growth is due to the increasing popularity of packaged food where they are used extensively. The advantages of the product over fresh fruits and vegetables will augment the industry growth in the forecast years.
Freeze drying is considered as the best drying process for packaging food and beverage products as it maintains the structural integrity and preserves the flavour. Freeze dried fruits and vegetables have better aroma, rehydration, and bioactivity when compared to products dried using other alternative techniques.
Advantages of freeze dried fruits and vegetables also include better shelf-life, a higher amount of retention of nutrients, colour and texture and easy rehydration capability.
A major product type in the freeze-dried vegetables and fruits market is coffee beans, and a significant amount of instant coffee available in the market is dried using this technology. The segment will register a revenue of over $5 billion by 2025 and will gain the market by a steady rate owing to increasing instant coffee demand across the globe.
Chunks/pieces is a key form in which freeze dried food are available in the market and will register a revenue of approximately $30 billion by the end of the forecast years.
Online retailers are a distribution channel that has been gaining popularity in recent years and will gain the market by a CAGR of around 6 percent in the forecast years.
In regards to regions, Asia Pacific is a high growth market for the freeze dried vegetables and fruits industry. High population, increasing disposable income, and many different retail formats are the major reasons behind the development of this region in the freeze-dried fruits and vegetables market. It will register a revenue exceeding $15 billion by the end of the forecast years.
Lack of awareness about the product may hinder this market’s development in the forecast years. Although the product is used in many packaged food formulations, the awareness level among consumers about its advantages is still low, especially in Asia Pacific and Latin America, where fresh fruits and vegetables are consumed at a significant rate.