Global Fermented Food and Ingredients Market: Focus on Food Type (Fermented Dairy, Fermented Beverages, Fermented Vegetables), Ingredient Type (Amino Acid, Organic Acid, Industrial Enzyme), and Distribution Channel- Analysis and Forecast (2018-2023)
Global Fermented Food and Ingredient Market Anticipated to Reach to $ 689.34 Billion by 2023
NEW YORK, April 15, 2019 /PRNewswire/ --
Read the full report: https://www.reportlinker.com/p05767424/?utm_source=PRN
The market for fermented food and ingredient has entered its main commericialization phase due to the growing consumers perception of it being a healthy food alternative Fermentation is an anaerobic process which involves the application of bacteria feeding on the starch present in food to produce lactic acid. This process helps in preserving and increasing the shelf life of the food products.
Digestive wellness and the increasing demand for lactose and gluten free products are the factors supporting the growth of fermentation foods and ingredients across the globe.Small categories of companies offering more variety of fermented food are also achieving more growth than dairy-based probiotic products.
Since fermentation is a natural process, it usually meets the consumers demand of clean labelling and avoiding synthetic additive and preservatives.
The fermented food and ingredient market research study offers a wide perspective on where the industry is heading toward. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
The report answers the following questions about the fermented food and ingredient market:
- What is the fermented food and ingredient market size in terms of revenue during the period 2017-2023, and what is the expected growth rate during the forecast period 2018-2023?
- What is the revenue generated from the different food type such as fermented dairy products, fermented beverages, fermented confectionary and bakery products, fermented vegetable, and others?
- What is the revenue generated from the different ingredient type such as amino acid, industrial enzyme, organic acid, and others?
- What are the key trends and opportunities in the market pertaining to the global fermented food and ingredient industry?
- What are the key distribution channel covered in the fermented food and ingredient market?
- How attractive is the market for different stakeholders present in the industry on the basis of the analysis of futuristic scenario of the global fermented food and ingredient industry?
- What are the major driving forces that are expected to increase the demand for fermented foods and ingredients during the forecast period?
- What are the major challenges inhibiting the growth of the global fermented food and ingredient market?
- What kind of new strategies are adopted by the existing market players to expand their market position in the industry?
- What is the competitive strength of the key players in the global fermented food and ingredient market on the baiss of their financial stability, product offerings, and regional presence?
The report further includes a thorouh analysis of the impact of the Porter's five major forces to understand the overall attractiveness of the industry. The report also focuses on the key developments and investments made in the global fermented food and ingredient market by the players, research organizations, and government bodies.
Further, the report includes an exhaustive analysis of the regional split into North America, Europe, Asia-Pacific, and Rest-of-the-World.Each region details the individual push-and-pull forces in addition to the key players from that region.
Some of the prominent players in the fermented food and ingredient market are Danone, Cargill Inc., Royal DSM, E. I. du Pont de Nemours and Company, Flower Group, and Archer Daniels Midland Company.
Executive Summary
Health and wellness has been an important concern for majority of the population globally.This is evident from the constantly increasing average life expectancy over the past few years.
For a person born in 1990, the average life expectancy was 65.38 years which increased to 71.68 years for a person born in 2015. The increase in life expectancy shows that people are becoming more conscious about their health and have begun working toward maintaining good health. Moreover, with the growing number of medical cases such as heart diseases, cancer, osteoporosis, diabetes, strokes, and rising healthcare costs, consumers on a global level are becoming increasingly aware of the relation between diet and health. Identifying the current demand of a healthy lifestyle, companies across the globe are relentlessly putting in efforts to modify the type of food intake, globally. Companies have come up with the fermented food segment in their existing product portfolios and fermented food ingredients, which are further used in the production of other food products.
Fermented foods and ingredient manufacturers are developing new products and expanding in the market since the past decade. The market was earlier dominated by fiber and probiotic ingredients, but it is now witnessing a shift towards the increasing use of fermented foods across the globe towing to their increasing demand, supported by consumer perceptions of fermentation process being a healthy method for food preservation.
With these advances in the consumer awareness, fermented foods have been known as an efficient functional improvement.The increase in the consumption of fermented foods depicts that the consumers have expanded their definition of wellness to include benefits such as gut health.
It also suggests that consumers are working hard to collect the information about the food they consume. This drive towards the digestive wellness trend showcases the changing viewpoint of the consumers about the food they consume.
The fermented food and ingredient market includes a wide array of food type such as fermented dairy, fermented beverages, and fermented confectionary and bakery products.Fermented foods and ingredients are products which undergo desired microbial action which enhances their quality, nutritional value and life.
Fermented food products have found widespread usage in the recent years, as they fit in as a perfect solution to the challenges of the changing lifestyle.Fermented foods can be dairy, confectionery and bakery, vegetables, and others (beverages).
The fermented products of all these food types have shown better shelf life, while also having good nutritional value.
Major ingredient types of fermented ingredients include amino acid, organic acid, and industrial enzyme, among others.Amino acid represents the most significant ingredient in the market for the fermented food and ingredients.
During the forecast period, ingredient areas, such as industrial enzyme, and organic acid are expected to display the maximum growth, owing to the high possibilities of value addition in these ingredient areas.Fermented food ingredients help in enhancing the quality, texture and flavor of food products.
These help in making food products healthier and better in taste.These ingredients are formed using the process of fermentation and are further used in different food products.
These ingredients are used to add flavor and to enhance the properties of food products or can also be used in supplements.
The fermented food and ingredient market is projected to grow from $xx billion in the year 2018 to $689.34 billion by 2023, growing at a CAGR of xx% from 2018 to 2023. The demand for fermented food and ingredients is driven by increasing population, rising per capita income and increasing awareness about health among the consumers.
Consumer inclination towards the use of fermented food and ingredients are increasing across the globe due to their benefits to the human digestive system, further helping in increasing immunity and brain functions. The source of the gut-healing properties of fermented foods is probiotics, or good bacteria, which is found in products such as kombucha, sauerkraut, kimchi, kefir and pickles.
Food manufactures are taking advantage of the emerging opportunities and expanding their product line in the fermented food products.For instance, PepsiCo acquired probiotics beverage maker KeVita in 2016 and also launched its Tropicana Essentials Probiotics line.
One of the major reasons for the companies investing in the market is its profitability aspect which is attracting the millennials who are more captivated by the idea of fermented food and beverages than any other product group.
The fermented food and ingredient market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). Europe is at the forefront of the global fermented food and ingredient market, with high market penetration rate in the U.K., Germany, and others, which are expected to display robust market growth in the coming five years.
Europe, followed by the North America region, generated the highest revenue in the fermented food and ingredient market in 2018.The Europe market for fermented food and ingredient is significantly developed with major growth opportunities arising from countries in the region.
The increasing adaptability of fermented food and beverages and the positive support from the government are also expected to augment the growth in the region.The fastest growth rate is expected from the Asia-Pacific and South America regions.
Presence of key countries, such as China, India, in Asia-Pacific is estimated to boost the market for fermented food and ingredients.
Competitive Landscape
The fermented foods and ingredients market is associated with the major companies providing various food products and ingredients prepared using fermentation.This varied range of market participants provides opportunities to other players willing to bear the high risks involved in the industry.
This segment details the latest strategies & developments adopted by the key market players in the fermented food market. In order to lead the market as well as engage in the process of market growth, a company needs to work in collaboration with the top market leaders, acquire the relatively weaker companies, bring new products and services to the market, and improve the existing products.
The results of the emerging strategies and developments are already providing a push to the market in the form of new product launches and developments.Moreover, the growing market of such food products is further expected to increase the involvement of companies across different segments of the value chain.
The key players actively taking part in the fermented food market are: Danone, Cargill Inc., Royal DSM, E. I. du Pont de Nemours and Company, Flower Group, and Archer Daniels Midland Company, among others.
The competitive landscape for the fermented food and ingredient market demonstrates an inclination toward the companies adopting strategies such as partnerships and collaborations along with new product launches for introducing new technologies and enhancing their existing product portfolio. The majority of the companies are actively launching new products to enhance their presence, while the relatively less adoptive strategies comprise mergers and expansions.
Countries Covered
- Europe
- The U.K.
- Germany
- France
- The Netherlands
- Italy
- Spain
- Rest-of-Europe
- North America
- The U.S.
- Canada
- Mexico
- Asia-Pacific
- China
- Japan
- India
- Australia-New Zealand (ANZ)
- Rest-of-Asia-Pacific
- Rest-of-the-World (RoW)
- South America
- Saudi Arabia
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