Freeze Dried Food Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Freeze Dried Food Market was valued at USD 46.9 billion in 2016 and projected to reach USD xx billion by 2023 growing at a CAGR of 7.01% during the forecast period 2018 to 2023.
Freeze drying is a new method of preserving food which involves freezing the food, then removing almost all the moisture in a vacuum chamber, and finally sealing the food in an airtight container. Urbanization across the world has led to an improved living standard and higher disposable income. But at the same time, this hectic lifestyle has also increased the demand for convenience food that can be prepared with minimal effort.
Freeze Dried Food Market Growth Drivers and Restraints:
With increasing cases of obesity, the demand for healthy food options with increased shelf life has increased amongst consumers. This has led to an increase in demand for freeze dried food products as freeze-drying helps in maintaining the nutrient profile of the food products and increases the overall shelf life of the product. The expanding food processing sector and the huge demand for products among consumers has considerably increased the demand for freeze-dried products. With increasing number of people undertaking outdoor activities, like trekking and camping, the demand for freeze-dried food products during the forecast period is set to increase as these food products are easy to store and prepare. The freeze-dried fruits market holds the largest share in the freeze-dried product market, which is followed by vegetables, beverages and meat.
The major restraint for this market is the high-energy requirements that is needed in this process, which increases the product costs. The availability of other simpler drying techniques, such as spray drying, are impacting the market since they are relatively lower in costs as compared to freeze-drying. Therefore, freeze-drying equipment is comparatively costlier than other dryers, which is a major drawback for the small and medium scale industries. However, the market is still booming owing to growing needs from consumers.
Geographical Analysis of Freeze Dried Food Market:
Geographically, the global market is segmented across North America, Europe, Asia Pacific, and Middle East & Africa. North America led the market in 2018 with a market share close to 45%, followed by EMEA and Asia Pacific regions respectively. Asia Pacific holds about 22% market share, and this is owed to its rising economy and changing lifestyles.
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Key Players of Freeze Dried Food Market:
Some of the major players in this global market are Chaucer Freeze Dried, Dohler, Nestle, OFD Foods Inc., and Unilever, among others.
Freeze Dried Food Market Segmentation:
- Freeze-dried Fruit
- Freeze-dried Vegetable
- Freeze-dried Beverage
- Freeze-dried Dairy Products
- Freeze-dried Meat & Seafood
- North America
- South America
- Asia Pacific
- Middle East and Africa
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