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Dehydrated Vegetables Market Scope, Drivers And Overview By 2033
Dehydrated Vegetables Market Drivers
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According to The Business Research Company's, The dehydrated vegetables market size has grown strongly in recent years. It will grow from $15.78 billion in 2023 to $16.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to growth in the convenience food industry, seasonal availability challenges, focus on food waste reduction, globalization of food supply chains, expansion of online retail channels.
The dehydrated vegetables market size is expected to see strong growth in the next few years. It will grow to $21.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing consumer demand for plant-based foods, rising interest in sustainable agriculture, focus on clean label products, government initiatives promoting dehydration. Major trends in the forecast period include innovations in dehydration technologies, sustainable packaging solutions, customized blends and mixes, technological advancements, innovations in dehydrated snacks.
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Market Drivers and Trends:
The growing fast-food sector is expected to boost the growth of the dehydrated vegetable market going forward. Fast foods are defined as quick, convenient, and inexpensive alternatives to home-cooked meals. The dehydrated vegetables are used in the production of fast food, immediate ready-to-eat meals, condiments, and flavorings for sausages, pickles, chutneys, and other seasoning and spice goods. For instance, as per the report published by the Census and Statistics Department, a Hong Kong-based economic statistics provider, when comparing the entire year of 2021 to the entire year of 2020, total receipts at Chinese restaurants increased by 18.3% in value and 16.4% in volume. Total receipts from non-Chinese restaurants increased by 20.7% in volume and by 23.1% in value. Total sales at fast food restaurants increased by 6.4% in volume and 8.6% in value. Therefore, the growing fast-food sector is driving the growth of the dehydrated vegetable market.
Technological advancements have emerged as the key trend gaining popularity in the dehydrated vegetable market. Major companies operating in the dehydrated vegetable market are developing innovative technologies to strengthen their position in the market. For instance, in March 2022, EnWave Corporation, a Canada-based machinery industry corporation, launched the REVworx vacuum microwave toll manufacturing facility. The unique features of REVworx provide adaptable production capabilities to meet the rising demand for cutting-edge consumer products made with EnWave's patented technology. The REVworx is designed to bring new vacuum-microwave dried products to market, accelerating time to market and enabling businesses to introduce their products and demonstrate the benefits of using REVTM technology.
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Major Key Players of the Market:
Archer Daniels Midland Company, Nestle S.A., Merck KGaA, DuPont de Nemours Inc., Kerry Group plc, Koninklijke DSM N.V, Chr. Hansen Holding A/S, Kemin Industries, SunOpta Inc., Van Drunen Farms, The Stahlbush Island Farms, Kalsec Inc., Mercer Foods LLC, Silva International Inc., Pacific Coast Fruit Company, Cayman Chemical Company, JDM Food Group Ltd., SensoryEffects Flavor Systems, Gold Coast Ingredients Inc., Kanegrade Ltd., Blue Ribbon Packing Co., BTSA Biotecnologas Siveele B.V., Handary S.A, Zhengzhou Bainafo Bioengineering Co. Ltd., Dumoco Co. Ltd., Chihon Biotechnology Co. Ltd., DMH Ingredients Inc., and Harmony House Foods Inc.
Dehydrated Vegetables Market 2024 Key Insights:
• The dehydrated vegetables market size is expected to see strong growth in the next few years. It will grow to $21.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Increasing Fast Food Sector Boost Market
• Innovation In Manufacturing Facility For Better Results
• North America was the largest region in the dehydrated vegetable market in 2023
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