PUBLISHER: Orion Market Research | PRODUCT CODE: 1159313
PUBLISHER: Orion Market Research | PRODUCT CODE: 1159313
Global Dried Processed Food Market Size, Share & Trends Analysis Report by Product Type (Pasta & Noodles, Soup, Ready Meals, Dessert Mixes, Others) and by Distribution Channel (Online Retail Channel and Offline Retail Channel) Forecast (2022-2028)
The global dried processed food market is anticipated to grow at a substantial CAGR of 4.9% during the forecast period. Increasing consumption of pre-packaged and convenience food among the working population is a factor projected to support the growth of the dried processed food market. Rising hectic lifestyle of people has propelled the need for convenient food products including dried noodles and pasta, dried soups, dried baby foods and dried ready meals. The increasing demand of these products is due to their advantages such as ease of cooking, handling, consumption, and storage. Dried processed food products require less preparation time and offers longer shelf life. These advantages with changing lifestyle of consumers are the major factor propelling the growth of dried processed food market. Manufacturers in this industry are making efforts to fulfill the demand of consumers with quick and nutritious dried processed food. For instance, in 2020, Cham Foods, Ltd. launched a line of dry, ready-to-eat (RTE) pulses and grains for instant meals and soups. The new line maintains the full flavor and texture of grains and legumes to fulfill the demand for a quick, nutritious meal at home or on-the-go.
The global dried processed food market is segmented based on the product type and distribution channel. Based on the product type, the market is segmented into pasta & noodles, soup, ready meals, dessert mixes, and others. Based on the distribution channel, the market is sub-segmented into the online and offline retail channel. The above-mentioned segments can be customized as per the requirements. Among the distribution channel segment, the offline retail channel segment is anticipated to register significant growth. Offline retail channels such as supermarket and hypermarket offer availability of wide variety of processed dried foods, with strong retail chains. Consumers widely prefer offline retail channels for edibles due to concerns related to expiry date and time taken for the delivery. These increasing sales of dried processed food from offline channels are influencing manufacturers to launch their offerings in retail stores. In 2021, Sfoglini, an American pasta maker, announced to introduce new pasta shapes to retail shelves, including its viral pasta shape invention called cascatelli. Cascatelli was launched direct-to-consumer earlier in 2021 and is now available at more than 150 locations of the fresh market. The company is also expected to expand its retail distribution even further.
Geographically the dried processed food market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Among these, the Asia-Pacific region is expected to experience highest market growth attributing to surging interest for dried processed food with strong presence of food manufacturing companies. Countries such as India, China, Vietnam, and Japan strongly hold on several key dried processed food manufacturing companies including Acecook Viet Nam., Nisshin SeifunWelna Inc., Hagoromo Foods Corp., Marico Ltd., Nestle India and others. Surging interest for food such as pasta & noodles and high acquiring energy of buyers in this region are the major factors contributing to the growth of dried processed food market. For instance, in 2021, Marico Ltd., announced its entry into the instant noodles market. The launch of instant noodles under the Saffola Oodles brand is in line with the company's focus on establishing its position in the healthy, ready-to-cook snacking category and widening its demographic importance.
The major companies serving the global dried processed food market include B&G Foods, Inc., Cargill, Inc., Campbell Soup Co., Hindustan Unilever Ltd., ITC Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2021, 8th Avenue Food & Provisions, a private food production firm agreed to acquire the Ronzoni. Ronzoni is a dry pasta brand and a dry pasta manufacturing facility located in Winchester, VA. Ronzoni brand valued $95 million and reported net sales of $116 million in 2020.
Research Methodology
The market study of the global dried processed food market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: