Study: Global freeze-dried market to reach $66.5B by 2021
The primary factor driving this growth is the superior quality of freeze-dried products when compared to other drying technology items.
The global freeze-dried product market is expected to grow at a CAGR of 7.23% and during the forecast period of 2016-2021, and reach $66.53 billion by 2021, according to a report from Mordor Intelligence, India.
The study, “Global Freeze-Dried Food Market - Segmented by Type of Contaminant and Geography (2016 - 2021),” reveals the primary factor driving this growth is the superior quality of freeze-dried products when compared to other drying technology items.
Additional contributing factors include:
- Boasts an excellent shelf life (up to 25 years) without any added preservatives.
- Can be stored for long durations at home or while traveling.
- Requires very little time for cooking.
- The ingredients retain their original shape, while being lightweight..
In the developed regions such as North America and Europe, the application of freeze-dried ingredients in healthy snack items is also growing at a fast rate.
The restraining factor for the market however is the availability of other drying techniques such as spray drying and fluid bed drying.
The freeze-dried product market is segmented by freeze-dried fruits, vegetables, beverages, meat and sea food, dairy and prepared foods.
Fruits and vegetables are heat-sensitive products that are more prone to loss of vitamins and minerals when exposed to high temperature. Freeze-drying technology preserves necessary vitamins and antioxidants during dehydration, which increases its importance among the drying techniques. The freeze-dried fruits market holds the largest share, followed by vegetables and beverages. Freeze-dried beverages are further segmented into tea, coffee and fruit beverages. The freeze-dried prepared food segment includes freeze-dried soups and prepared meals. This sub-segment is growing at a fast rate due to the excellent nutrition and sensory quality, apart from its instant cooking ability.
Market segmentation by geography includes North America, Europe, Asia-Pacific, South America and Africa. North America holds the largest share in the market, with wide application in meat and beverages segment. The developing regions of Asia-Pacific are growing at a fast rate, due to the high demand of instant foods such as instant soups, instant meals, etc.
Technological advances in freeze-dried products to explore superfoods such as beetroot and elderberry are the future spotlight of the market. The growing demand for additive-free and natural products provides a good opportunity for the freeze-dried market. In the developing regions, there is a growing demand for traditional products such as miso soup in Japan and instant foods. Targeting these product categories can prove to be potential benefits for the market.