Overview and Scope
Synthetic food refers to food items or products artificially generated in controlled laboratory settings. They are used instead of naturally farmed foods to lessen their environmental impact.
Sizing and Forecast
The synthetic food market size has grown strongly in recent years. It will grow from $16.48 billion in 2023 to $17.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to population growth, increasing urbanization, changing dietary habits, rising health consciousness, globalization of food supply chains.
The synthetic food market size is expected to see strong growth in the next few years. It will grow to $22.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to growing population, increasing demand for sustainable food sources, rising awareness of personalized nutrition, expansion of alternative protein sources, government initiatives supporting synthetic food. Major trends in the forecast period include development of plant-based and lab-grown alternatives, personalized nutrition trends, focus on sustainability in food production, increased use of precision fermentation, rising popularity of 3d-printed food.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/synthetic-food-global-market-report
Segmentation & Regional Insights
The synthetic food market covered in this report is segmented –
1) By Product: Synthetic Color, Enzymes, Hydrocolloids, Antioxidants, Flavor And Fragrances, Fats And Oils
2) By Distribution: Supermarkets, Conventional Stores, Online
3) By Application: Beverages, Dairy And Frozen Products, Bakery And Confectionery, Meat, Poultry And Seafood, Processed Food, Convenience Food And Beverages, Sauces And Dressings
Top 5 Major Players:
- BASF SE
- Archer Daniels Midland Company
- Royal DSM N.V
- FMC Corporation
- Symrise AG,
North America was the largest region in the synthetic food market in 2023. The regions covered in the synthetic food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12544&type=smp
Major Driver Impacting Market Growth
The growing demand for alternative protein sources is expected to propel the growth of the synthetic food market going forward. Alternative protein sources are made from plants, animals, or fermentation-produced cells. The increasing demand for protein has resulted in rapid innovations devised by the food industry in categories such as alternative proteins such as lab-grown meat, plant-based meat, single-cell proteins from yeast or algae, and edible insects. Therefore, alternative protein sources and synthetic food are part of the more significant trend toward developing sustainable and healthy diets. For instance, in August 2022, according to the National Research Council Canada, a Canada-based government research organization, the need for alternative proteins in Canada, including plant-based proteins, was anticipated to expand by 14% annually by 2024 and by 2054, the overall protein demand is expected to double to 943.5 million metric tons. Therefore, the growing demand for alternative protein sources is driving the growth of the synthetic food market.
Key Industry Players
Major companies operating in the synthetic food market report are BASF SE, Archer Daniels Midland Company, Royal DSM N.V, FMC Corporation, Symrise AG, Döhler Group SE., Chr. Hansen A/S, Young Living Essential Oils LC, Beyond Meat, Naturex S.A., Believer Meats, Impossible Foods, Flavorchem Corporation, UPSIDE Foods Inc., Allied Biotech Corp., Mosa Meat, Falcon Essential Oils, Aarkay Food Products Ltd., Meatable, Aleph Farms Ltd., Motif FoodWorks Inc., GOOD Meat, SuperMeat, IntegriCulture Inc., Fiorio Colori S.R.L, Multus Biotechnology Ltd., BioBetter Ltd., Frutarom Industries Ltd.
The synthetic food market report table of contents includes:
1. Executive Summary
2. Synthetic Food Market Characteristics
3. Synthetic Food Market Trends And Strategies
4. Synthetic Food Market – Macro Economic Scenario
5. Global Synthetic Food Market Size and Growth
….
32. Global Synthetic Food Market Competitive Benchmarking
33. Global Synthetic Food Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Synthetic Food Market
35. Synthetic Food Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Synthetic Food Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Synthetic Food Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Synthetic Food Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: BASF SE Financial Performance
Table 75: Archer Daniels Midland Company Financial Performance
Table 76: Royal DSM N.V Financial Performance
Table 77: FMC Corporation Financial Performance
Table 78: Symrise AG Financial Performance
Explore the trending research reports from TBRC:
https://topprnews.com/wildlife-encapsulation-resins-market-size/
https://topprnews.com/aviation-crew-management-system-market-share/
https://topprnews.com/residual-current-circuit-breaker-rccb-market-segmentation/
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
