With growing popularity of convenience food and ready to eat meals, the global food industry has seen surging demand in the past few years. Rapid urbanization, busy consumer lifestyle and time constraints have generated numerous growth opportunities for companies developing packed food products.
Given to the importance of a healthy lifestyle, people are also shifting their focus on consuming different nutrition-rich diets such as air-dried packed food products that offer a plethora of health benefits to the human body. These foods are not only good in taste but also contain ample number of vitamins, antioxidants, fiber, and mineral content.
Being prepared by eliminating water content, the weight of air-dried food items are significantly low which making it easy for transportation and storage. Moreover, these products do not contain any preservatives, artificial colors, and additives, and offer added eco-friendly benefits as they reduce food spoilage which further leads to decreased wastage.
Speculating potential prospects, the air-dried food market is expected to accrue significant growth over the forecast timespan. Extensive advertising campaigns, branding, and supportive government policies could augment industry size. Moreover, Global Market Insights, Inc. predicts that the air-dried food market for B2B could exceed $114 billion by 2026.
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Based on product, the fruits segment in air-dried food market is estimated to amass noteworthy prospects owing to its wide use in puddings, cakes, and other bakery items for adding taste and flavor. Also, air-dried meat products are expected to cross 1,000-kilo tons by the end of 2026 as it a good source of protein and has low amounts of cholesterol and fat. Chunks/pieces would also accrue significant share in the market over the forecast timespan due to its use in numerous dishes and recipes.
In terms of B2C distribution channel, the convenience stores segment is projected to exceed USD 12,000 million by 2026. Despite growing prominence, the segment could likely show slow growth as compared to other segments due to low availability of wide range of products.
Online retailers meanwhile are expected to grab over 10% of volume share owing to recent technological advancements in the e-commerce sector. Hotels & restaurant distribution channel could also likely cross 1,500-kilo tons during forecast timespans as air-dried food products are widely used for preparing numerous delicacy.
According to reports, Europe air-dried food market is anticipated to witness promising growth from the region’s proliferating food and beverage sector. Certainly, the food & beverage sector has a major impact on Europe’s economy, with dried food sales witnessing a surge in line with increasing consumption of processed food products.
Ready to eat meals being prepared with dried foods are easily available in hypermarkets, convenience stores, supermarkets, and local retail outlets in the region. Moreover, based on growing food consumption, Europe could be considered as one of the key regional markets for air-dried food industry.
On a global scale, the air-dried food market is highly fragmented because of the presence of numerous small and medium-scale producers. Some prominent producers in the market include Mondelez International Inc., Nestle S.A., DMH Ingredients Inc., B-B Products (Australia) Pty Ltd., Berrifine A/S, BCFoods, La Frubense, Milne Fruit Products, Inc., Howenia Enterprise Co., Ltd., Saraf Foods Ltd., Van Drunen Farms, Seawind Foods, Thomas Creek Farms.
Author Name : Abhijeet Kakade
Vertical farming market to accrue sizable gains from indoor farm installations over 2018-2024, APAC to emerge as a highly lucrative regional avenue
Low availability of land and fluctuating weather conditions will lead vertical farming market to generate a sizable revenue over the next seven years. Of late, the issues of excess population, water conservation, crop production, and recycling have been plaguing the world, on the grounds of which vertical farming has been garnering traction as a feasible solution for these problems. Being the latest phenomenon in urban farming, vertical farming is secured with biosecurity procedures that prevent pest attacks on crops and restrict plant disease. Additionally, there is no concept of seasonal crop or run-offs, which eliminates crop spoilage and transport costs, thereby fueling vertical farming industry expansion. A report by Global Market Insights, Inc., states that vertical farming market size stood at a modest USD 2 billion in 2017.
North America Vertical Farming Market Size, By Application, 2013 – 2024 (USD Million)
Vertical farming essentially involves plants being grown in vertical layers, stacked one after the other in warehouses, barren lands, deserts, high-rise buildings, and shipping containers. Given that it reduces the necessity of pesticides, sprays, and herbicides in cropping systems and helps farmers deliver their produce on time, vertical farming market is expected to massively proliferate the farming domain in the ensuing years.
Unveiling vertical farming market trends from indoor farming techniques
While outdoor vertical farms are a rather common phenomenon, the concept of farming indoors on account of lack of space in urbane locales has been gaining momentum lately. Basically, indoor farms is inclusive of growing fruits, fish, and vegetables in a controlled environment, such as freight containers, parking spaces, and warehouses. Driven by the fact that this type of farming consumes less water, minimum land, and provides high yield, indoor farming accounted for only slightly lesser than 70% of the overall market share in 2017.
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Being a massively practiced controlled environment agriculture technique, indoor farming plays a vital role in combating the rising food demand for the ever-increasing populace. Another pivotal advantage of this type of farming is that it is controlled from external adverse climatic changes and thereby lends extra protection to crops. On account of the fact that it helps produce feed in substantially higher quantities without crop damage, vertical farming market size from indoor farming is expected to depict a CAGR of 28% over 2018-2024.
Asia Pacific is expected to emerge as one of the most popular regional grounds for vertical farming market, primarily aided by countries such as Singapore and Japan where land scarcity has become an issue of national concern plaguing the country. Other countries such as China, India, South Korea, and Taiwan are also touted to become highly lucrative revenue pockets for APAC vertical farming market. Indeed, APAC accounted for 30% of the overall vertical farming market share in 2017. Powered by changing food patterns, rising population, and lack of arable land, APAC is expected to become the largest vertical farming market in the years to come. for vertical farming in coming years. Japan and Singapore are the major markets for vertical farming and it is expected to rise in future due to rising land scarcity.
Prominent players operating in this market often engage in collaborations to enhance crop yield and provide a positive impetus to vertical farming market. For instance, Philips Lighting, one of the global lighting technology leaders, announced last year that it has completed the installation of Philips GreenPower LED Production Modules at Ecobain Gardens, the largest commercial vertical farm operation in Canada. Through this venture of upgrading the previously used lighting in the facility from fluorescent to LED, Philips Lighting aims to help the vertical farming industry major enhance production on a commercial scale, improve growing cycles, and help to grow healthier plants. The move had been touted to save close to CAD 30,000 in energy costs per year.
Author Name :Saipriya Iyer