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.
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 current COVID-19 pandemic is expected to have an effect on the growth of the synthetic food industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the synthetic food sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall synthetic food industry.
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The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the synthetic food market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the synthetic food market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.
Key Companies Profiled in the Report:
Aarkay Food Products, Archer Daniels Midland Company, Flavorchem, Sensient Technologies, FMC, DSM, BASF, Chr. Hansen, Döhler Group among others.
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North America is the major market share holder throughout the forecast period. North America synthetic food market is anticipated to witness growth over 5.3% up to 2030. Growing demand for ready to eat and processed meals owing to uber busy lifestyle attributed to the regional growth of the market. Simultaneously, rising consumer awareness pertaining to key benefits associated with artificial ingredients including low sugar content is expected to drive the synthetic food market.
The report considers the following timeline for market estimation:
- Historical Years: 2016-2018
- Base Year: 2019
- Estimated Year: 2027
- Forecast Years: 2020-2027
The global synthetic food market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global synthetic food market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the synthetic food market expected to boost the growth of the industry in the coming years.
Emergen Research have segmented the global Synthetic Food Market based on product, end-users, distribution channel and region:
Product Outlook (Revenue, USD Billion; 2017-2030)
- Synthetic Color
- Flavor and Fragrances
- Fats and Oils
End Users Outlook (Revenue, USD Billion; 2017-2030)
- Bakery and Confectionery
- Dairy and Frozen Products
- Animal and Pet Food
- Savory and Snacks
Distribution Outlook (Revenue, USD Billion; 2017-2030)
- Conventional Stores
Key Objectives of the Report:
- Analysis and estimation of the synthetic food market size and share for the projected period of 2020-2027
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global synthetic food market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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