The fermented foods and ingredients market is expected to grow from from $636.89 billion in the year 2016 to $888.76 by 2023, at a CAGR of 4.98% from 2017 to 2023.
The market is expected to progress at a substantial rate due to the ever growing health related concerns among the global population. The growth for this market is being driven by factors such as increasing health consciousness among the population, rising need of food preservation and the change in dietary patterns. However, the market consists of certain challenges which are inhibiting the overall growth for the global fermented foods and ingredients market such as health risks associated with fermented foods, restricted range of pH and temperature of operation and low penetration in developing countries.
This growth is attributed to the increasing awareness among consumers about health and balanced diet and also the changing dietary patterns according to modern lifestyle. Moreover, the rising need for food preservation further helps in driving the market.
The concept of fermented foods and ingredients market revolves around the major food types prevailing in the market such as: bakery products, dairy products, vegetables, and others (including non-alcoholic beverages), and ingredient types such as: amino acids, organic acids, industrial enzymes, vitamins, and others (including lactic acid, fish sauce, and hot chili sauce, among others).
The trends of the fermented foods and ingredients market varies with different geographical regions. The fermented foods and ingredients market holds a prominent share in various countries of Asia-Pacific (APAC), North America, Europe and Rest of the World (RoW). The competitive landscape for the fermented foods and ingredients market demonstrates an inclination towards companies adopting strategies such as product launch and development, and business expansions. The major established players in the market, are focusing more product launch and development to introduce new forms of innovations and different set of food products.
Nestle S.A., Cargill Inc., Danone, Mondelez International, Du Pont, and Royal DSM were the most prominent names that surfaced in 2016 in this regard. These companies launched various new products and expanded their production and R&D capabilities in different regions.
Key Topics Covered:
1 Research Methodology & Scope
2 Industry Analysis
3 Market Dynamics
4 Competitive Landscape
5 Fermented Food and Ingredient Market by Food Type
6 Fermented Food and Ingredients Market by Ingredient Type
7 Fermented Food and Ingredients Market by Distribution Channel
8 Fermented Foods and Ingredients Market by Geography