April 06, 2020
According to the research report titled ‘Freeze Dried Fruits & Vegetables Market Size By Product, By Form, By Distribution Channel, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global freeze dried fruits & vegetables market is expected to grow with a CAGR of 7.3% over the analysis timeframe, subsequently reaching USD 69 billion by the year 2025.
Freeze dried fruits & vegetables are extensively used in pastries, vegetable dips dressing, pasta dishes, bakery products, ice creams, snacks, confectionaries, instant soups and appetizers. Growing demand for the product from food packaging industry are driving the growth of freeze dried & vegetables industry.
Freeze drying is a technique that offers protection from bacteria and other microbiological contaminants and increases the shelf life without compromising on the nutritional value, taste and size of the food product. Growing food packaging industry is aiding the market expansion. However, lack of awareness in consort with high cost of freeze drying processes and equipment may hinder the market growth.
As per the product type, the report states that fruits segment is presumed to expand with a CAGR of 7% during 2019-2025 whereas the vegetable segment is predicted to cross USD 18 billion by 2025. Freeze dried fruits & vegetables are used not only to enhance the flavors but also to improve quality of the food products.
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In terms of form, freeze dried fruits & vegetables in flakes form will hold 35% revenue share while chunks/pieces will surpass 900 kilo tons in the forthcoming years.
Based on the distribution channel, the convenience stores segment is predicted to garner USD 25 billion by the year 2025. On the other hand, online retailers segment is expected to grow with a CAGR of 5% through 2025, primarily due to availability and accessibility of various products at one platform.
Considering the geographical landscape, the report cites that freeze dried fruits & vegetables industry in Europe is slated to hold 30% share in the subsequent years. Factors such as growing demand for the product in food packaging sector and rising capita per income are augmenting the regional demand.
Prinova Europe Ltd., European Freeze Dry Ltd., Accelerated Freeze Drying Co. Ltd., Freeze-Dry Foods GmbH, Van Drunen Farms, Mercer Foods LLC, Damtuh Co. Ltd., Ajinomoto Co., Asahi Group, Olam International, OFD Foods LLC, The JM Smucker Co., The Kraft Heinz Co., Mondelez International and Nestle S.A. are the prominent companies operating in the freeze dried fruits & vegetables industry.
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