Synthetic Food Market

Report ID : 1415 | Published : 2022-10-29 | Pages: 190 | Format: PDF/EXCEL

The market size of the global synthetic food market in the year 2021 is valued at 17.72 billion and is predicted to reach 30.01 billion by the year 2030 at an 6.19% CAGR during the forecast period.

The term "artificial food items" also applies to synthetic food products. Synthetic food items are prepared with the use of biotechnological techniques. Synthetic food items maintain their original appearance, flavor, color, and nutritional content despite being created through biotechnology. Proteins, lipids, vitamins,  their constituent parts, and trace elements are dietary components of synthetic food products. Milk, ice cream, cereals, cakes, and bread are some of the most come synthesized foods. Since it can be challenging for the food industry to obtain farm-fresh fruits and vegetables, artificial food products have recently gained attention. It is, therefore, safe to predict that the global market for synthetic food will generate a sizable amount of money throughout the forecast period. Some of the key factors driving the growth of the global synthetic food market include the adoption of ready-to-eat products, rising consumption of synthetic food, rising demand for synthetic dairy products, energy drinks, soft drinks, etc., increasing demand for processed and packaged food, rising population, changing lifestyles, and the presence of numerous restaurant chains.

The market for synthetic food is expanding due to the widespread usage of synthetic food by restaurant chains to preserve the freshness of their produce. Although there aren't many rules governing food safety, synthetic food products concerns limit the market's expansion. Other issues that hinder the expansion of synthetic food products include the usage of pricey organic components, an increase in raw material prices, and a shift in customer preference toward organic food items due to increased health consciousness.

 

Market Segmentation:

The synthetic food market is segmented on the product, end users and distribution. Based on product, the market is segmented into synthetic color, enzymes, hydrocolloids, antioxidants, flavor and fragrances and fats and oils. Based on the end users, the market is segmented into beverages, bakery and confectionery, dairy and frozen products, animal and pet food and savory and snacks. Based on the distribution, the market is segmented into supermarkets, convenience stores and online.

Based on product, the hydrocolloids category is accounted as a major contributor to the synthetic food market.

The hydrocolloids category dominated the market in 2021. Demand for products is driven by the growing need to provide various beverages' stabilization, suspension, thickening, and mouthfeel control. Due to the rising popularity of reduced-calorie drinks, the diabetic population is projected to fuel market expansion. Several reasons, including rising disposable income, evolving consumer tastes, and the growth of upscale restaurant chains, are anticipated to drive market share.

The bakery and confectionery category witnessed growth at a rapid rate

The bakery and confectionery category dominated the market in 2021. The acceptance of healthier and safer food options will be fueled by the rising health concerns surrounding issues like vaccinations, diabetes, and obesity. Product penetration is probably being aided by the quick movement in consumer preferences away from nutritional products and toward sweets like cakes, pastries, cookies and chocolates among all age groups. Increased consumption of various beverages, such as tea, soda, juices, coffee, aerated drinks, and mineral waters, will boost demand in this market.

The North American synthetic food market holds a signification revenue share.

The North American synthetic food market is expected to register the highest market share in revenue in the near future. Due to a busy lifestyle, the need for processed and ready-to-eat food is increasing, which will help the region thrive. Furthermore, it is anticipated that rising consumer knowledge of the primary advantages of artificial ingredients, such as their low sugar content, will spur market expansion. The widespread presence of FMCG producers and the sizable consumer base is fostering regional industry growth. The U.S. synthetic food market,  a key contributor, earned almost USD 1.5 trillion in sales from the supermarket sector. Demand has been positively influenced by rising RTE consumption and high disposable income. In addition, Asia Pacific is projected to grow rapidly in the global synthetic food market due to the region's growing working population and consumers' desire for ready-to-eat cuisine. Consumer behaviors have changed significantly, particularly in urban areas. Urban areas create 80% of packaged consumer goods. The expansion of the local synthetic food industry is greatly influenced by the quick rise in dual incomes and the expanding demand for frozen, processed, and other dairy products. Synthetic food items are also widely used in Asia to satisfy the tremendous demand for food in China and India. 

Competitive Landscape

Key players in the synthetic food market are Aarkay Food Products, Archer Dainels Midland Company, Allied Biotech Corp, BASF, Biolanders SAS, Chr. Hansen, Dohler Group, Frutarom Industries, Falcon Essentials Oils and Fiorio Colori.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Synthetic Food Market Snapshot

Chapter 4. Global Synthetic Food Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis

5.1. by Product Type & Market Share, 2019 & 2030

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Product Type:

5.2.1. Synthetic Color

5.2.2. Enzymes

5.2.3. Hydrocolloids

5.2.4. Antioxidants

5.2.5. Flavor and Fragrances

5.2.6. Fats and Oils

Chapter 6. Market Segmentation 2: by End-user Estimates & Trend Analysis

6.1. by End-user & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by End-user:

6.2.1. Beverages

6.2.2. Bakery and Confectionery

6.2.3. Diary and Frozen Products

6.2.4. Animal and Pet Food

6.2.5. Savory and Snacks

Chapter 7. Market Segmentation 3: by Distribution Estimates & Trend Analysis

7.1. by Distribution & Market Share, 2019 & 2030

7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Distribution:

7.2.1. Supermarkets

7.2.2. Conventional Stores

7.2.3. Online

Chapter 8. Synthetic Food Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2030

8.1.2. North America Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

8.1.3. North America Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Distribution, 2022-2030

8.1.4. North America Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

8.2. Europe

8.2.1. Europe Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2030

8.2.2. Europe Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

8.2.3. Europe Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Distribution, 2022-2030

8.2.4. Europe Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

8.3. Asia Pacific

8.3.1. Asia Pacific Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2030

8.3.2. Asia Pacific Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

8.3.3. Asia-Pacific Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Distribution, 2022-2030

8.3.4. Asia Pacific Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

8.4. Latin America

8.4.1. Latin America Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2030

8.4.2. Latin America Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

8.4.3. Latin America Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Distribution, 2022-2030

8.4.4. Latin America Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

8.5. Middle East & Africa

8.5.1. Middle East & Africa Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2030

8.5.2. Middle East & Africa Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2022-2030

8.5.3. Middle East & Africa Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by Distribution, 2022-2030

8.5.4. Middle East & Africa Synthetic Food Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2030

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles 

9.2.1. Aarkay Food Products

9.2.2. Archer Dainels Midland Company

9.2.3. Allied Biotech Corp

9.2.4. BASF

9.2.5. Biolanders SAS

9.2.6. Chr. Hansen

9.2.7. Dohler Group

9.2.8. Frutarom Industries

9.2.9. Falcon Essentials Oils

9.2.10. Fiorio Colori

9.2.11. Other Prominent Players

Segmentation of Synthetic Food Market-

By Product-

  • Synthetic Color
  • Enzymes
  • Hydrocolloids
  • Antioxidants
  • Flavor and Fragrances
  • Fats and Oils

By End Users-

  • Beverages
  • Bakery and Confectionery
  • Diary and Frozen Products
  • Animal and Pet Food
  • Savory and Snacks

By Distribution-

  • Supermarkets
  • Conventional Stores
  • Online

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

 

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

 

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