Study: Freeze-dried fruits, vegetables market to exceed $60B by 2025
Asia Pacific is a high growth market for the freeze-dried fruits and vegetables.
The freeze-dried fruits and vegetables market is likely to surpass $60 billion by 2025, according to a new research report by Global Market Insights, Shelbyville, Del.
Increasing popularity of packaged food will be a major factor behind the freeze-dried fruits and vegetables market growth. The product is extensively used in preparing many packaged food items such as soups, juices, ready-to-eat meals, etc. The advantages of the product over fresh fruits and vegetables will augment the industry growth in the forecast years. Other advantages include better shelf life, higher amount of retention of nutrients, color and texture and easy rehydration capability. These factors, coupled with developments in drying technology, will propel the freeze-dried fruits and vegetables and fruits market growth in the forecast years.
On the other hand though, lack of awareness about the product will hinder development in the freeze-dried fruits and vegetables market. 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.
Freeze-dried fruit and vegetable chunks, pieces or slices are used in a wide range of food products such as confectionaries, soups, bakeries, meal boxes, etc. The segment will register a revenue of approximately $30 billion by the end of the forecast years.
Online retailers is gaining immense popularity in recent years. Consumers are resorting to ordering packaged food products online owing to a range of factors such as hectic lifestyle, availability of a variety of products on a common platform, ease of payment and increasing internet penetration in developing economies. This distribution channel will gain the market by a CAGR of around 6% in the forecast years.
Asia Pacific is a high growth market for the freeze-dried fruits and vegetables. Rising population, increasing disposable income and penetration of different retail formats are the major reasons behind the development of the Asia Pacific market, which will register a revenue exceeding $15 billion by the end of the forecast years.