28 May 2020
The World Consumes More Than 11 Million Pounds of Food Every Minute of Every Day. all stats about food consumption always talks average or overall numbers, but there is always big difference how we eat varies significantly by country to country and by consumer to consumer. Every region has its own style of food cooking and consumption, it varies culture to culture and depends on population in the region also.
Each country has its own unique food habits and preferences, from the spices of India to the seasonal flavors of Japan. And each offers a range of ways of eating, from street food to fine dining. In ancient time food journey was so simple, straight from the farm to our plates. But now days what we eat has been manufactured by a range of people – grown by farmers, processed by manufacturers, sold to grocery stores, and finally cooked by restauranteurs or in-home.
We know very well that the way people produce, get, and consume food has changed significantly over the last few decades. However, eating habits also will continue to evolve due to technological advances, changing consumer preferences, and our growing population. Let’s see one by one different Market which is growing and accelerating food industry,
Trends in Food Industry in 2020:
Growing Dietary Fibers Market
Global Dietary Fibers Market is valued at USD 797.84 Billion in 2018and expected to reach USD 1021.2 Billion by 2024 with the CAGR of 4.2% over the forecast period
Dietary fiber is the portion of plant-derived food that cannot be completely weakened by human digestive enzymes. It is found in edible plant foods like cereals, fruits, vegetables, dried peas, nuts, lentils and grains. Fiber is grouped by its physical properties and is termed soluble, insoluble, or resistant starch. Dietary fiber intake provides many health benefits. However, average fiber intakes for US children and adults are but half of the recommended levels. Individuals with high intakes of dietary fiber appear to be at significantly lower risk for developing coronary heart disease, stroke, hypertension, diabetes, obesity, and certain gastrointestinal diseases. Increasing fiber intake lowers vital sign and serum cholesterol levels. Increased intake of soluble fiber recovers glycaemia and insulin sensitivity in non-diabetic and diabetic individuals. Fiber supplementation in fat individuals significantly enhances weight loss. Dietary fiber is one of the hot Trends in Food Industry 2020.
Extruded Snacks Market is contributing significantly to Snack Industry
North America is expected to register significant growth over the next few years owing to escalating demand for healthy snacking options and increasing innovations by market players in this region.
Additionally, there is a growing demand for extruded snacks in retail industry, which is expected to be one of the major drivers of the market in this region. According to article published by Agriculture and Agri-Food Canada, in 2015, extruded snacks accounted for 12.1% of the market share in the U.S. snacks product market. Continuously changing Trends in Food Industry is one of the key divers for the growth
Increasing Consumer Demand for Frozen Food is the Key Factor Driving the Market Growth.
Rising urbanization, an increasing number of refrigeration facilities in small retail shops and rural households and growing cold chain industry are some if the major factors driving the market growth. Rising urbanization has resulted in the growth of the organized retail sector in India.
These modern grocery and food stores are equipped with cold chain facilities that have junction rectifier to the supply a spread of frozen foods product within the market. The value addition of food products is expected to increase from the current 8% to 35% by the end of 2025. However, these consumers aren’t only looking for convenience they are also looking for alternatives that are healthy, organic and preservative free along with taste, variety, and value for money. They want it all which presents both a unique challenge as well as an opportunity to the frozen food manufacturers. The frozen food sector overall is witnessing a lot more interruption than ever before. The dispersion in the India market of frozen foods has been limited due to infrastructure, especially in semi-urban and rural areas. And the customer perception regarding frozen food has not been very favorable so may hamper the growth of market. However, initiation of new technologies has resulted in the affordability of the frozen food, are helps to grow market.
Frozen Food Market is valued at USD 295.89 Billion in 2018 and expected to reach USD 387.27 Billion by 2025 with the CAGR of 3.92% over the forecast period.
The rising concerns regarding the animal welfare and the increase in the adverse effects of meat industry on environment are anticipating to augment this growth in the global meat substitute market.
Trends in Food Industry: Meat substitute is known also as the meat analog, faux meat, mock meat, and vegetarian meat. These resemble the chemical and aesthetic characteristics of meat which include the basic flavor, texture, taste, and appearance of meat. A huge part of the meat substitute is soy based and gluten based.
The vegetarians are choosing to reduce their consumption of meat for the ethical and health reasons and there are a few people who are sticking to the dietary laws which exist in the religions of Islam, Hinduism and Judaism. A popular and widely used substitute of meat is tofu.