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.
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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.
Robust Supply Chain
The supply chain of dried vegetables is already established with decent transportation facilities that help in the easy flow of products. Existing supply models have benefitted dried vegetables to reach customers directly without any hurdles. Most dried vegetables are supplied in packages, which is effective during storage and transportation.
The online sale of dried vegetables through e-Commerce has added a lot of grip to the market, and has helped it flourish in a new way with a better sales medium. Traditional methods are also being used for sales, but through e-Commerce websites, any company/person sitting in any part of the world can buy dried vegetables from suppliers. Almost all developed countries (excluding the Middle East) have an established supply chain, due to which, they are able to supply dried vegetables directly to retail stores and customers on time.
Key Manufacturers of Dried Vegetables
This report contains detailed insights into the current market trends and drivers that potentiate the dried vegetable market to flourish during the forecast period. The report also includes the competitive landscape of numerous market players in dried vegetable market, to provide a comprehensive and comparative dashboard. In addition, key strategies, recent developments, and key offerings are also examined in the latter part of this report.
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.
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