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Synthetic Food Market Growth Analysis 2019, Industry Trends, Statistics and Projections

Author : Rahul Sankrityayan | Published Date : 2019-06-17 

Global Market Insights, Inc. provides a detailed overview of Synthetic Food Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

The vast expanse of synthetic food industry is inherently obvious from the consumer demand for such products across multiple application arenas. Sedentary lifestyles have lately led to a mammoth spike in the requirement of ready-to-eat and ready-to-cook packaged foods. Changing diet patterns and increasing interest to consume carbonated drinks, bakery products, fried items, and dietary supplements have further led to companies manufacturing artificial additives for enhanced flavor and taste. The subsequent expansion of food additives market is certain to have a major impact on the revenue graph of synthetic food industry.

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Companies partaking in this highly fragmented business space are deemed to have bright growth prospects in the years ahead, driven by the rising preference for exotic food products. Indeed, synthetic food market players have been establishing partnerships with individual distributors and SMBs to substantiate their position in this sphere. Recently for instance, Sensient Technologies Corp., one of the leading synthetic food industry firms, acquired the natural color business of GlobeNatural, the Peru-based natural food and ingredient manufacturer. The deal forms a vital part of Sensient’s ‘seed to shelf’ initiative in food colors through which it plans to expand its portfolio of natural color supply in synthetic food market.

With global population touted to cross alarming levels, food production has emerged to be a pivotal challenge for F&B companies. Synthetic food market, amidst a backdrop of this slightly distressing scenario, is likely to score an edge over its contemporary F&B verticals. Having been conceived in an era where changing food trends by the day is the norm, synthetic food market certainly stands to gain tremendous monetary benefits in the ensuing years.

Incorporating processed food with a highly appealing external appearance has been making massive inroads in the food industry since the last decade. Having recognized the drill, synthetic food market firms have been going the whole hog to enhance the smell, taste, texture, and appearance of consumable food products. Say for instance, packaged ice creams have been infused with artificial flavors such as strawberry, vanilla, orange, chocolate, mango, and peach to revamp their mainstream appeal and make them more alluring for consumers.

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Speaking of flavors, it is imperative to mention that the rise of gourmet restaurant chains plays a major role in influencing synthetic food industry trends. The growing penetration of myriad flavors in gourmet food production in tandem with the rising preferences for gourmet cuisines among the upper-crust consumer base are likely to extensively impact the flavor-based synthetic food market share. Indeed, the widespread deployment of artificial flavors in snacks and savories to prolong aroma and maintain product appeal is slated to propel synthetic food industry size from flavors and fragrances over 2017-2024.

Synthetic Food Market, By Application

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

Artificial colors are extensively used in several products to enhance the appearance and make it more attractive or lucrative. Increasing utilization of these colorants in meals, carbonated soft drinks, non-alcoholic beverages and alcoholic beverages is projected to propel artificial additives market size. The rising number of regulations by FDA and EU to produce low sugar content products will further boost industry growth.

Asia Pacific synthetic food market is projected to account over 30% of the share by 2024. Increasing the application of artificial additives among key manufacturers to enhance shelf-life, texture and appearance of consumable products driving regional demand. Furthermore, major companies such as BASF, Symrise and Sensient are anticipated to invest in formulation of new flavors & tastes obtained through enhanced ingredient engineering. The rising consumption of bakery & confectionery products in China, India, Japan, and Australia owing to increasing double income trend is supporting industry expansion.

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North America synthetic food market is anticipated to witness growth over 4.5% up to 2024. Increasing demand for ready to eat and processed meals owing to busy lifestyle will support regional growth. Rising consumer awareness regarding key benefits associated with artificial ingredients including low sugar content is expected to propel artificial additives market size.

Global synthetic food market share is highly fragmented due to the presence of both large number of multinational as well as regional companies. Increasing competition among existing organizations and new entrants is anticipated to encourage product development. Archer Daniels Midland Company, Flavorchem, Sensient Technologies, FMC, DSM, BASF, Chr. Hansen, Döhler Group and Allied Biotech are key players in synthetic food market. Other prominent players include Frutarom, Symrise, Young Living Essential Oils, Falcon Essential Oils, Biolandes, Naturex, Fiorio Colori and D.D. Williamson & Co. Inc.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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