According to a newly published report by Transparency Market Research, titled, ‘Dried Vegetable Market: Global Industry Analysis and Opportunity Assessment 2018-2026', the overall revenue generated from the dried vegetable market is anticipated to be valued at somewhere around US$ 32 Bn in 2018, which is expected to rise at a CAGR of 5.4% throughout the forecast period (2018-2026).
The dried vegetable market has registered remarkable growth in the last few decades, due to the increasing vegan population and the rising demand for convenient food products. There has been a subtle increase in the vegan population from 1% to 6% in the U.S. from 2014 to 2017, and this trend is also increasing in European countries and many other regions. In the global dried vegetable market, Asia Pacific accounts for the major production and consumption of dried vegetables, owing to factors such as urbanization and increased working women population.
On the basis of our research, it is estimated that Asia Pacific holds 35.4% value share in the global dried vegetable market. Increased penetration of dried vegetable producers in developing economies has made the dried vegetable market more competitive with innovative product launches, global expansion, more convenient delivery of products, and high quality certified products in the dried vegetable market.
A few of the key players operating in the global dried vegetable market are Naturex S.A., Olam International, Symrise AG, Mercer Foods, LLC., Vkc Nuts Private Limited, Viva Bella Orchards Inc, Kiantama, Sun-Maid Growers of California, and others. Food service providers and food manufacturers are showing keen interest in using dried vegetables in their production lines, which is expected to drive the demand for dried vegetables in the near future.
Growth in the Demand for Convenience Food
Customers seek convenience foods that can reduce their food preparation time. The demand for convenience food is driven by a busy lifestyle and aging population. The major parameters among customers for convenience foods are their ease of use, packaging, nutritional value, safety, variety, and product appeal. The quest for convenience is primarily driven by the increased value of time and rising incomes.
Dried vegetables preserve the nutritional contents, and maintains the texture and taste of the vegetable for a longer period of time. These features boost the dried vegetable market due to the convenience factor. The rapid growth of the foodservice industry in various developing markets is also expected to fuel the demand for convenience foods such as dried fruits and dried vegetables.
Dried Vegetable Market: Competition Dashboard
TMR has profiled some of the prominent companies active in the dried vegetable market, such as Naturex S.A., Olam International, Symrise AG, Mercer Foods, LLC., Viva Bella Orchards Inc, Vkc Nuts Private Limited, Sun-Maid Growers Of California, Kiantama, Sunshine Raisin Corporation, Montagu Dried Vegetable and Nuts (Pty) Ltd, Traina Dried Vegetable Inc., Greek Dried Vegetables S.A., Sun Valley Raisins Inc. A California Corporation, Raisin Champion International, Geobres Nemean Currants and Sultana Raisins S.A., and others.
No comments:
Post a Comment