DUBLIN, March 6, 2018 /PRNewswire/ --
The "Global Smart Food Market: Focus on Food Types (Functional, Encapsulated, Genetically Modified) & End Products (Dairy, Bakery, Meat, Confectionary, Dietary Supplements, Beverages) - Analysis & Forecast (2017-2022)" report has been added to ResearchAndMarkets.com's offering.
The global smart food market is expected to reach $525.25 billion by 2022
The strong growth is attributed to the increasing health consciousness among the population, and growing R&D in food industry, introduction of newer food preservation techniques, and rising healthcare costs.
The countries such as U.S., China, India, U.K., and Spain are witnessing massive growth in the smart food market. This robust growth in the developing regions is largely propelled by the growing urban population and increasing disposable incomes which in turn have stimulated the growth in the smart food industry. As a result of these demographic changes, the global food industry has undergone massive structural changes.
High growth in the market 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 healthcare costs has also driven the growth of this market.
Functional food are dominating the smart food market. This is because consumption of the foods containing functional ingredients are rapidly expanding in the food industry for example: pre- and probiotic yogurt drinks, milk and milk-based drinks and the cholesterol lowering spreads. Some of the leading companies which provide functional foods are BASF SE, Kerry Group and General Mills Inc. among others.
The company BASF SE provides ingredients such as Lamequick whipping agents, Spongolit cake emulsifiers and Nutrilife bakery enzymes that provides extra advantage to bakery products. These products generate majority of its revenue from Asia-Pacific regions.
Analogue and Novel foods hold huge scope of growth in the coming years. The concept of novel foods revolves around the use of enzymes in food products to reduce the allergenic potency of proteins, while the Analogue foods can be cheese analogue, meat analogue or others.
The smart food industry is experiencing rapid growth and development coupled with the demand to protect the consumer's health and interest which has led to the foundation of various regulatory policies and frameworks across the globe. This industry faces major differences in the key terminologies across the global market, along with significant differences in the regulatory and policy environment. Various countries have developed their own policies, regulatory framework, labelling, agendas, novel food application procedure, nutritional content, health benefits and various ways of enforcement of these regulations.
Ingredion, Cargill Inc., Balchem Corporation, Sensient Technologies, Symrise, and Kerry Group, among others, are some of the prominent players in the smart food market. The market has presence of a large number of small-sized to medium-sized companies that compete with each other and the large enterprises.
The key players operating in this market have come up with various expansion strategies and did mergers & acquisitions over the recent years to introduce new forms of innovations and different set of food products, and to compete with the competitors' product portfolio. This has been the most widely adopted strategy by the players in this market.
Coca Cola Company launched a new product Coca Cola Plus in February 2017 with more of fiber in its composition and with reduced calorie and sugar contents. Ingredion Inc. acquired Shandong Huanong Specialty Corn Development Co., Ltd. (China) in November 2016 thus adding up a second manufacturing facility to its operations in China. The company Nestle formed a joint venture with R&R in October 2016 to create Froneri, an ice cream frozen food, and dairy company.
This report is a meticulous compilation of research on more than 100 players in the smart food ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants and vendors.
Key Topics Covered:
1 Report Scope & Methodology
1.1 Scope of the Report
1.2 The Smart Food Market Research Methodology
2 Industry Analysis
2.1 Opportunity Matrix Analysis
2.2 Country Share Analysis
2.3 R&D Analysis of Key Market Players
2.4 Regulatory Framework Surrounding the Smart Food Market
3 Market Dynamics
3.1 Market Drivers
3.1.1 Increasing Health Conscious Population
3.1.2 Growing Research and Development in Food Preservatives
3.1.3 Introduction of Food Preservation Techniques
3.1.4 Rising Healthcare Costs
3.2 Market Restraints
3.2.1 Fragmented Nature of the Market
3.2.2 Lack of Awareness About Smart-Food Products
3.2.3 High Cost Restricting Mass Adoption
3.3 Market Opportunities
3.3.1 Government Support and Rising Economy in Developing Nations
3.3.2 Population Demographics Across the Globe
4 Competitive Landscape
4.1 Key Market Developments & Strategies
4.1.1 Mergers & Acquisitions
4.1.2 Partnerships, Collaborations & Joint Ventures
4.1.3 Product Launches
4.1.4 Business Expansion
4.1.5 Others (Awards & Recognitions)
4.2 Industry Attractiveness
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat from Substitutes
4.2.5 Intensity of Competitive Rivalry
5 Smart Food Market by Food Type
5.1 Assumptions and Limitations for Analysis and Forecast of the Global Smart Food Market
5.2 Market Overview
5.3 Functional Food
5.4 Encapsulated Food
5.5 Genetically Modified Food
5.6 Others (Novel & Analogue Food)
5.6.1 Other Smart Foods
188.8.131.52 Novel Food
184.108.40.206 Analogue Food
6 Smart Food Market by End Products
6.1 Bakery Products
6.3 Dairy Products
6.4 Meat Products
6.5 Dietary Supplements
7 Smart Food Market by Geography
8 Company Profiles
- Archer Daniels Midland Company
- Arla Foods
- Balchem Corporation
- Cargill Inc.
- Ingredion Inc.
- International Flavors & Fragrances Inc. (IFF)
- Kerry Group
- Royal FrieslandCampina N.V.
- Sensient Technologies Corporation
- Tate & Lyle
- The Coca Cola Company
For more information about this report visit https://www.researchandmarkets.com/research/9xrr56/global_smart_food?w=5
Research and Markets
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