Food and Services Industry - Market Research Report

  The global specialty food ingredients market was valued at USD 101.9 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2030. This growth is fueled by the rapid expansion of industries such as food and beverages, pharmaceuticals, and personal care, along with the increasing presence of organized retail and e-commerce globally. Specialty food ingredients are essential in processing food, enhancing its texture, emulsifying, preserving, adding color, and providing extra health benefits. These ingredients range from micro-ingredients, like vitamins, minerals, and enzymes, to macro-ingredients, including specific proteins, fats, fibers, and carbohydrates. A growing demand for products without artificial additives has driven the development of clean-label ingredients, which use natural and simple components. These ingredients play a crucial role in ensuring that processed foods are tasty, safe, nutritious, sustainable, and affordable. S...

  The global plant-based meat market size was valued at USD 7.17 billion in 2023 and is expected to grow at a CAGR of 19.4% from 2024 to 2030. As more individuals become aware of the health risks associated with excessive consumption of red and processed meats, they are actively seeking healthier alternatives. Plant-based meats are often perceived as lower in saturated fats and cholesterol than animal-based ones, making them an attractive option for health-conscious consumers. This shift in dietary preferences is supported by a growing body of research linking plant-based diets to various health benefits, including reduced risk of chronic diseases such as heart disease, diabetes, and certain cancers.   As plant-based products become more mainstream, they are increasingly available in various formats, from ready-to-eat meals to frozen patties and deli slices. This wide range of offerings caters to different culinary preferences and lifestyles, making it easier for consumers t...

  The global food colors market size was valued at USD 3.13 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030. One of the key drivers is the increasing importance of visual appeal in the food industry. Food colors are used to make food and beverages more attractive to consumers. The vibrant and visually appealing food products tend to have a higher perceived value and are more likely to be purchased.   Over the past few years, the governments of Spain and Germany have launched and successfully implemented numerous campaigns to promote healthier lifestyles by introducing innovative health products to reduce obesity, cholesterol, and diabetes. This trend is expected to play a crucial role in the promotion of natural food colors in consumables.   The market is expected to exhibit a low threat of new entrants on account of extensive portfolio offered and distribution network operated by existing players, which results in...

  The global dairy processing equipment market size was worth USD 10.41 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2020 to 2025. Globally, the increasing consumption and production of dairy products coupled with rise in the usage of the automation process for production are anticipated to boost the global market demand. Change in the taste, needs, & preference of consumers for healthy and palatable products is a major driving factor for the market. Technology advancements, rising consumption of processed milk products, and increasing production of dairy products in countries such as Australia, Germany, the Netherlands, and India are anticipated to boost the market over the forecast period. The U.S. market was valued at USD 935 million in 2019 and is predicted to grow at a CAGR of 6.1% from 2017 to 2025. The U.S. dairy industry has experienced some major change over the past few years as the consumption of processed milk produc...

  The global dairy alternatives market size was valued at USD 29.18 billion in 2023 and is anticipated to grow at a CAGR of 12.6% from 2024 to 2030. The market is gaining momentum and witnessing high demand due to changing consumer eating patterns and diet trends. Rising cases of milk allergies and lactose intolerance are expected to increase demand for dairy alternatives in the coming years. Over 60% of the world's population has some level of milk allergy, according to the World Health Organization. More than 30 million American adults are lactose intolerant. Primary lactose intolerance seems to have a genetic component, with high intolerance levels in specific populations: About 95% of Asians, 60-80% of African Americans and Ashkenazi Jews, 80-100% of American Indians, and 50-80% of Hispanics. Lactose intolerance is least common among people of northern European origin, with a prevalence of only about 2%. Many food and beverage products are using these alternatives to appeal to ...

  The global meat substitutes market size was valued at USD 18.78 billion in 2023 and is expected to grow at a CAGR of 42.4% from 2024 to 2030. Diets that reduce or eliminate animal products are gaining popularity, which is expected to fuel the growth of the market. More people are adopting vegan lifestyles, driven by increased awareness of the health risks associated with meat consumption, as well as concerns about the ethical and environmental impacts of animal agriculture. A 2023 study by Soylent found that 68.1% of those who choose veganism are motivated by animal welfare, 17.4% by health reasons, and 9.7% by environmental and sustainability concerns.   Additionally, the fear of increasing animal-borne diseases has heightened health concerns, leading to a decline in animal product consumption. As awareness of meat substitutes grows, more consumers are turning to these alternatives, recognizing their potential health benefits, including the prevention of non-communicable ...

 The global plant-based meat market size is expected to reach USD 24.77 billion by 2030, registering a CAGR of 19.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing adoption of vegan lifestyle and diet among health-conscious consumers in traditionally meat-eating developed economies are expected to drive the market growth over the forecast period.   The growing concern of consumers regarding animal welfare and greenhouse gas emission created by the distinguished practices of the meat industry, together with celebrity endorsements of vegan/vegetarian diets are projected to augment the demand for plant-based meat products in the global market.   The plant based meat is predominantly consumed in the Hotel/Restaurant/Café (HORECA) sector. Key companies in the industry are collaborating with fast-food joints and restaurant chains to promote the adoption of their products. For instance, fast-food joints such as Burger King, MacDonald’s, and...