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Technavio’s market research analyst predicts the global dried processed food market to grow at a CAGR of more than 6% during the forecast period. Dried processed food products like pasta and noodles are staple foods in several countries across the globe. Hectic lifestyles of consumers and the need for leisure has propelled the use of such convenient food products like dried ready meals, dried pasta and noodles, and several other dried processed food products that require minimal time for preparation. These dried foods have various nutritional properties, unique flavor and taste, and convenience which make them a principal diet among people. Owing to the growing consumer interests, food manufacturers worldwide are focusing on using natural food additives with a broad range of functions, high effectiveness, and low toxicity in these dried food products. For instance, Kraft Foods has announced that by 2016, its boxed noodles products would be colored with natural ingredients such as paprika, annatto, and turmeric.
Consumers are opting for gluten-free diets owing to several health concerns which has prompted them to adopt healthier options such as regular dried food products. Gluten causes the intestinal cells to die prematurely due to its inflammatory effect, which allows bacterial proteins and other toxic compounds to get in the blood stream, leading to autoimmune attacks on the body. This has pushed several manufacturers to add gluten-free dried food offerings to their product portfolio. Also, the growing awareness about celiac disease and to avert its ill-effects, people are increasingly adopting gluten-free food.
The global dried processed food market is highly dispersed and fragmented because of the presence of numerous small and large players both at the regional and international level. Brand value, product portfolio, and pricing are some of the differentiating factors that vendors are focusing on to increase their market shares. The leading vendors are paying attention towards product assortment and distribution to intensify their penetration in the market.
Leading vendors in the market are -
Other prominent vendors in the dried processed food market include Acecook Vietnam, B&G Foods, Campbell, CJ Group, ConAgra Foods, General Mills, Hain Celestial, House Foods Group, ITC, Masan Consumer, Ottogi Foods, Symington's, Ting Hsin International Group, and Toyo Suisan.
During 2015, the dried pasta and noodles segment dominated the dried processed food market and accounted for around 37% of the total market share. The main reason for the growth of the dried pasta and noodles segment is their longer shelf life and convenience they offer while preparation. This segment offers a wide array of products, with new additions to cater to varied tastes and preferences. Constant innovations in product ranges will propel the growth of this segment during the forecast period.
APAC is the largest revenue-contributing region in the dried processed food market and is likely to occupy more than 66% of the total market revenue by 2020. Much of the region’s growth can be attributed to the surging demand for rice and noodles from emerging economies like China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. Factors such as the high purchasing power of consumers and an increase in expenditure on food will propel the demand for convenient foods such as dried noodles and ready meals in the region in the coming years.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Competitor analysis
PART 15: Appendix
PART 16: Explore Technavio
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