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Smart Food Market Trends – Increasing number of smart food-related initiatives

VANCOUVER, BC, CANADA, May 26, 2022 /EINPresswire.com/ -- The global smart food market is expected to reach a market size of USD 940.98 Billion at a steady CAGR of 10.0% in 2028, according to latest analysis by Emergen Research.

 This steady revenue growth can be attributed to increasing investments by food processing companies for development of enhanced food preservation techniques, packaging, and high nutritional value food products. Rising prevalence of lifestyle diseases such as obesity, cardiovascular diseases, and diabetes are among other factors driving demand for smart food options among a growing global consumer base. Diabetes patients are increasingly adopting smart food solutions as the low glycemic index of smart foods helps in managing blood sugar levels. These are among other factors expected to continue to support overall growth of the smart food market going ahead.

The smart food movement by the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) is expected to boost growth of the smart food market during the forecast period. The movement aims to convert the ‘Big 3’, which is rice, maize, and wheat, into the ‘Big 5’, which includes rice, maize, wheat, millets, and sorghum, in order to reduce prevalence of malnutrition, particularly in developing countries.

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Key Highlights of Report
In November 2020, Cargill announced investment into Health for Life Capital II fund of Seventure Partners. The Health for Life capital II Fund of Seventure Partners supports the microbiome revolution in the areas of nutrition and health. The investment is expected to help Cargill in bringing more relevant products to the market in the functional food arena.
The dairy products segment accounted for largest market share of 31.0% in 2020. Increasing consumption of dairy products among a global consumer base is driving growth of the smart food market, and this is expected to continue during the forecast period.
Functional food segment revenue is expected to expand at a rapid CAGR of 10.3% during the forecast period. The health promoting properties of functional ingredients is boosting demand for functional foods among the health-conscious consumer base.
The report further divides the Smart Food market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Smart Food market.

Smart Food Market Segmentation

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Emergen Research has segmented the global smart food market on the basis of end products, food type, and region:

End Products Outlook (Revenue, USD Billion; 2021–2028)
Dairy products
Bakery products
Meat products
Confectionary
Beverages
Dietary Supplements
Others
Food type Outlook (Revenue, USD Billion; 2021–2028)
Encapsulated Food
Functional Food
Genetically Modified Food
Others
Regional Outlook (Revenue, USD Billion; 2021–2028)
North America
U.S.
Canada
Europe
Germany
U.K.
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Rest of MEA

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The report also studies the key companies of the Smart Food market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.

Some Key players analyzed in the report are:

Archer-Daniels-Midland Company, Arla Foods, Aveka, Inc., Balchem Corporation, BASF SE, Cargill, Inc., Firmenich SA, Ingredion Incorporated, International Flavors & Fragrances Inc. (IFF), and Kellogg Company.

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Key Objectives of the Report:

Analysis and estimation of the Smart Food market size and share for the projected period of 2021-2028
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 Smart 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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Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.

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About Us:
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 analyze 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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Smart Food Market Size Worth USD 940.98 Billion by 2028

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