Comprehensive Synthetic Food Market Analysis 2024: Size, Share, And Key Trends
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The synthetic food market will reach $17.57 billion in 2024, with a CAGR of 6.7%. By 2028, it’s projected to hit $22.06 billion, with a CAGR of 5.9%. Population growth and sustainability concerns propel this growth, alongside trends like plant-based alternatives and personalized nutrition.
The growing demand for alternative protein sources is propelling growth in the synthetic food market. As consumers seek sustainable and healthy diets, the demand for alternative proteins increases, driving market growth. For instance, the National Research Council Canada projected a significant increase in demand for alternative proteins, boosting the synthetic food market.
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What Are The Key Trends That Influence Synthetic Food Market Share Analysis?
Product innovations are driving trends in the synthetic food market. Major companies are introducing unique synthetic food products to expand their market presence. For instance, in August 2021, Singapore-based Shiok Meats Pte. Ltd. introduced the world’s first cell-based crab meat. This innovation extends to products like crab cakes, chili crab, lobster-flavored potato chips, and tom yum shrimp soup, offering consumers sustainable and high-quality alternatives to traditional meat products.
Which Market Players Are Driving Growth In The Synthetic Food Market?
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.
How Is The Global Synthetic Food Market Segmented?
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
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The Synthetic Food Global Market Report 2024 provides an overview of the synthetic foodmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The synthetic food market forecast analyzes synthetic food market size, synthetic food market share, leading competitor and their market positions.
The Table Of Content For The Synthetic Food Market Include
1. Synthetic Food Market Executive Summary
2. Synthetic Food Market Segments
3. Synthetic Food Market Size And Template Market Growth Rate
4. Key Synthetic Food Market Trends
5. Major Synthetic Food Market Drivers
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25. Key Mergers And Acquisitions In The Synthetic Food Market
26. Top Synthetic Food Companies
27. Synthetic Food Market Opportunities And Strategies
28. Synthetic Food Market, Conclusions And Recommendations
29. Appendix
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