Increasing necessity to address global issues such as poor diets, environmental degredation, climate change, and poverty are factors driving global smart food market growth.
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.
The Global Smart Food Market report offers a detailed analysis of the global market size, regional and country-level analysis of the market, segment growth, competitive landscape, sales analysis, industrial chain analysis, opportunities, recent developments, regulatory framework, market growth analysis, and strategic market initiatives.
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The research report analyzes the overall impact of the pandemic on the Smart Food industry, along with its impact on the key segments and sub-segments of the market. Moreover, the report assesses the COVID-19 pandemic’s impact on the key geographical region and their effect on the overall market owing to different restrictions imposed in different regions and countries.
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 Smart Food Market Report
The findings of the report explain various aspects of the market, such as market status, developmental prospects, key regional segments, renowned market players, product offerings, end-use industries.
Key players in the market include 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.
The Smart Food market intelligence report talks about the market size, share, value, and production cost analysis over the forecast period 2020-2027.
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.
- End Products Outlook (Revenue, USD Billion; 2021–2028)
- Dairy products
- Bakery products
- Meat products
- Dietary Supplements
- Food type Outlook (Revenue, USD Billion; 2021–2028)
- Encapsulated Food
- Functional Food
- Genetically Modified Food
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Asia Pacific accounted for fastest revenue growth rate among other regional markets in the global smart food market in 2020. Rising need to reduce risks of chronic diseases such as diabetes, cardiovascular diseases, and others among a growing population in developing economies is boosting demand for smart food solutions in countries in the region.
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Critical Factors To Help Readers Understand The Market Scenario
Key Market Dynamics: The global Smart Food market research report details on the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors. Each of these factors has been elaborately discussed in the initial segment of the study.
Key Growth Prospects: The report specializes in examining the major growth prospects of the global Smart Food market, such as new product launches, collaborations, joint ventures, mergers & acquisitions, agreements, partnerships, and the progress of the key market players functioning in the market, on regional and global levels.
Key Market Highlights: The Smart Food report deeply inspects factors like revenue accumulation, cost, capacity utilization rate, production capacity, production rate, consumption rate, import/export, supply/demand, gross, market share, CAGR, and gross margin. It further presents an all-inclusive study of the market growth factors and their latest trends.
Analytical Tools: The report discusses the leading market participants and their market scope, leveraging various analytical tools. Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis, are some of the analytical tools used by researchers for this market study.
Prospective Customers: The report assesses some crucial insights into service providers, manufacturers, suppliers, distributors, stakeholders, and individuals, who are keen on self-studying and assessing the Smart Food market.
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