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Synthetic Food market Product Type (Color, Enzymes, Hydrocolloids, Flavor & Fragrances, Antioxidants, Emulsifiers, Fat replacers) Application (Beverages, Dairy & Frozen Products, Bakery & Confectionery, Meat, Poultry & Seafood, Processed Food, Convenience Foods & Beverages, Sauces, Dressings, Spreads Savory & Snacks, Animal & Pet Food, Oils & Fats, Others) : Global Opportunity Analysis and Industry Forecast, 2020-2027

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Sep 2020 | 132 Views
 
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Synthetic food products are also known as artificial food items. The use of biotechnological methods helps in preparing Synthetic food items. Though produced by biotechnology, synthetic food products are still the same in appearance, color, taste, and nutritional value. Synthetic food items contain nutritive substances, like proteins, vitamins, fats, or their components, and trace elements. Some major synthesized food products include milk, cereals, cakes, ice-creams, and bread. As sometimes, it becomes difficult for the food industry to fetch farm-fresh vegetables & fruits, synthetic food products, have come under the spotlight these days. Hence, it is safe to forecast that the global market for synthetic food would attract a lot of revenue during the forecast period. 

 

The idea of synthetic food might sound a little strange and peculiar to those, who are entirely in a habit of eating natural food products, still the synthetic food market is steadily gaining traction. Day in and day out, new and innovative food products are being included in the list of synthetics food products. Currently, the North American countries are witnessing strong growth in the synthetic food market, due to the fast-growing fast-food industry there. Developing countries like India and China also carter to a voluminous demand for synthetic food products.

Market scope and structure analysis:

                Report Metric

                                         Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value ($US)

  Segments covered

  Product Type, Application, Industry Vertical, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

  Companies covered

Allied Biotech, Döhler Group, Fiorio Colori, BASF SE, Naturex S.A., D.D. Williamson & Co. Inc. (DDW), Young Living Essential Oils, FMC Corporation, Falcon Essential Oils, Flavorchem Corporation, Symrise AG, Frutarom Industries Ltd., and Biolandes SAS.

 

COVID-19 Scenario Analysis: 

  • COVID-19 pandemic has amplified the risk for the food price spike.
  • On one side, where demand for durable goods and discretionary services is experiencing a decline due to lockdown, the other side, which includes the food & beverage industry is experiencing growth in the market. 
  • Panic buying and food hoarding have proliferated all around the globe.
  • Due to the disruption of the supply chain, production and meeting demand has become a primary concern for the food & beverage industries.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Continuously growing adoption of ready to eat products, increasing synthetic food consumption, up surging demand for synthetic dairy products, energy drinks, soft drinks, etc., increasing population, rising demand for processed and packaged food, changing lifestyle, and a presence of a large number of restaurant chains, are some of the significant factors that drive the growth of the global synthetic food market. 

Although few regulations regarding food safety and concerns with synthetic food items restrain the market growth for synthesized food products. The use of expensive organic ingredients, increase in raw material prices, and the shift of consumers toward organic food products owing to the rise in health consciousness are few other factors that hamper the growth of synthesized food products. 

Developing confidence among consumers about the value that synthesized food products can bring if they replace it with organic food products, is the major challenge to be faced by the global synthetic food market.

Global synthetic food market trends are as follows:

Nascent stage of Global Synthetic Food Market:

The global synthetic market is still at a nascent stage. Very few numbers of companies are operating in this market as of now. Companies are experimenting with different varieties of synthetic food products, are trying to improve the production of synthetic food products with the help of technology. A rise in the number of companies operating in the production of synthetic foods will be witnessed in the coming years, thereby, increasing the competition.

Key Segments Covered:

                Segments

                             Sub-segments

  Product Type

  • Color Enzymes
  • Hydrocolloids
  • Flavor & Fragrances
  • Antioxidants
  • Emulsifiers
  • Fat replacers

  Application

  • Beverages
  • Dairy & Frozen Products
  • Bakery & Confectionery
  • Meat
  • Poultry & Seafood
  • Processed Food
  • Convenience Foods & Beverages
  • Sauces
  • Dressings
  • Spreads Savory & Snacks
  • Animal & Pet Food
  • Oils & Fats
  • Others

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the global synthetic food industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global synthetic food market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global synthetic food market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global synthetic food market analysis based on competitive intensity and how the competition will take shape in the coming years. 

Questions Answered in the Synthetic Food Market Research Report:

  • What are the leading market players active in the synthetic food market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
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