Vancouver, B.C., August 27, 2020 – The global Synthetic Food Market is expected to reach USD 23.05 Billion by 2027, according to a new report by Emergen Research. The growth of this market can be attributed to the rapidly changing consumer lifestyle, including eating preferences due to rising urbanization specially throughout the analyzed regions across the globe. Various artificially engineered ingredients offer unique flavors and textures along with good nutrients for a balanced healthy content in the meals. Rising consumer inclination towards processed and ready-to-eat products with ensuring nutrition, safety and quality will propel product demand.
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Legislative amendments by international and regional organizations, including FSSAI, FDA, EFSA, JTAFS, FSANZ and CFIA to encourage product application will supposedly drive synthetic food market growth. The mentioned guidelines effectively permit manufacturers to directly add artificial ingredients as seasonings and indirectly in vinegar and salt.
The latest market intelligence report, titled ‘Global Synthetic Food Market’, is intended to provide the target audience with the necessary information about the global Synthetic Food industry.
Key Highlights of the Synthetic Food Market Report:
- Synthetic food market across urban areas is likely to get benefitted from easier access to consumer base, lower distribution costs, and proximity to diverse technologies without overlooking major IT and waste treatment facilities. These ingredients are precisely added in sausage casings, vegetable dyes, potato skins, inorganic pigments, gelatin desserts and powdered drink mix in order to offer good quality meals. Moreover, better availability of raw materials, improved packaging and equipment as well as the presence of trained manufacturers is anticipated to accelerate synthetic food market expansion.
- With a CAGR of about 6.2%, hydrocolloids is likely to hold the majority share of the market throughout the forecast period. It is an ingredient requirement as an additive enhancing texture, viscosity, stability, and physical appearance of the meals will stimulate product demand, currently on the rise. The most common artificial hydrocolloid comprises carboxymethyl cellulose, guar gum, carrageenan, gelatin, locust bean gum and alginates.
- Beverages, bakery, and confectioneries happen to be the major end-users of the market. The demand of convenience food has been on the demand because of the uber busy lifestyle among urban people which has boosted the number of bakeries and confectioneries which serve beverages as a key part of their menu. This is likely to have a positive impact on the growth of the synthetic food sector throughout the forecasted period.
- North America has the highest adoption rate in the market. This is due to the growing urbanization, adoption of easy lifestyle from youth to mid-aged population and high disposable income. Moreover, the presence of key players in the region is also boosting market growth.
- Key participants include Aarkay Food Products, Archer Daniels Midland Company, Flavorchem, Sensient Technologies, FMC, DSM, BASF, Chr. Hansen, Döhler Group among others.
The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Synthetic Food market players.
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The research study presents an industry-wide summary of the Synthetic Food market, including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The Synthetic Food7 report analyzes the market based on different categories, such as product types, end-user applications, and leading geographical regions.
The Synthetic Food market report provides an in-depth analysis of the key competitors operating in the industry. The report offers insights into their product portfolio, business overview, financial standing, market position, revenue generation, market share and market size, and production and manufacturing capacity along with pricing analysis.
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Synthetic Color
- Flavor and Fragrances
- Fats and Oils
- End Users Outlook (Revenue, USD Billion; 2017-2027)
- Bakery and Confectionery
- Dairy and Frozen Products
- Animal and Pet Food
- Savory and Snacks
- Distribution Outlook (Revenue, USD Billion; 2017-2027)
- Conventional Stores
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The Synthetic Food industry report mainly focuses on the key market regions where the market is spread, including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report further focuses on the key segments of the market, such as product types, application spectrum, technology, end-user industries, among others.
Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered in the Report:
- What is the growth rate of the Synthetic Food market? What is the anticipated market valuation of the Synthetic Food industry by 2027?
- What are the key growth driving and restraining factors of the Synthetic Food market?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are the key opportunities and growth prospects of the Synthetic Food industry over the forecast period?
- Which region is expected to show significant growth in the coming years?
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