Food and Services Industry - Market Research Report

  The global cultured meat market size is expected to reach USD 6.9 billion by 2030, expanding at 51.6% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing technological advancements in alternative proteins, traction gained by meat substitutes, and the growing need to overcome meat shortage against the growing population and environmental impact machines are key factors driving the cultured meat industry’s growth. Cultured meat companies are pushing for the commercial launch of cultivated meat products in countries such as the U.S. through foodservice channels. The key players in the market are focused on expanding their R&D staff as well as scaling their production facilities to equip for large-scale commercial production of cultivated meat. Companies are also focused on reducing the production cost of cultivated meat, which will favor the growth of the cultured meat industry globally. Cellular agriculture is one of the evolving technolog...

  The global flavors and fragrances market size is expected to reach USD 44.6 billion by 2030, expanding at a CAGR of 5.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is majorly driven by the rising demand for natural products and aroma chemicals from the personal care & cosmetics products and food & beverages industries. The global industry for fragrances & flavors is expected to register remarkable growth over the forecast period owing to the increasing product demand in toiletries, cosmetics, beverages, and food application industries. The increasing use of flavors in the pharmaceutical, dietary supplements, and nutraceutical sectors is also projected to augment industry growth. The health & wellness trend in the industry is expected to magnify the preference for natural flavor ingredients. Growing disposable income levels in emerging economies are also anticipated to augment the product demand for soaps & detergents, ...

  The global beverage cans market size was estimated at USD 59.61 billion in 2030 and is expected to expand at a CAGR of 5.5% from 2024 to 2030. The demand for highly portable and superior beverage packaging for protection from the external environment is primarily contributing to market growth. The rising demand for aluminum cans on account of superior properties such as lightweight and growing aluminum recycling is further driving the market. The continuous technological advancements in the market which include machinery automation, printing technology, and raw material advancements are further contributing to the market growth. For instance, Ball Corporation introduced the Dynamark variable printing technology that allows for customized printing of beverage cans with a single pallet. The technology offers numerous options for high-quality printing, keeping the time required to change the designs to a minimum. The aluminum can segment is leading the global market with major reven...

  The global wheat protein market size is expected to reach USD 9.28 billion by 2030, expanding at a CAGR of 4.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing consumer preference for meat-free diets globally, and increasing product applications in various end-use industries, are the major factors driving the market growth. Furthermore, increasing cases of lactose intolerance have increased the demand for whey protein. The demand for food products that promote better health, particularly those that are low in fat and cholesterol, high in protein, and useful for weight management, has increased owing to rising consumers' health awareness. The number of food products that contain plant-based protein has consequently increased significantly over the past few years. Furthermore, the increasing popularity of trends such as all-natural and clean-label products is anticipated to boost demand for wheat protein. Wheat protein is widely used in the food an...

  The global cheese powder market size is expected to reach USD 7.11 billion by 2030, growing at a CAGR of 6.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is driven by various trends that resonate with changing consumer preferences and industry innovations. As more consumers seek convenient food options, cheese powder has emerged as a versatile ingredient that can enhance flavor in a wide range of products, including snacks, sauces, and ready-to-eat meals. Moreover, the increasing demand for convenience foods, particularly among busy urban dwellers, has accelerated the use of cheese powder in food manufacturing, leading to a surge in its market demand. Besides, the popularity of cheese-flavored snacks, such as popcorn and chips, has further propelled the market, showcasing its appeal across diverse consumer segments. Health and wellness trends also play a pivotal role in shaping the market. Consumers increasingly opt for healthier alternati...

  In 2023, the global specialty food ingredients market was valued at USD 101.9 billion, with projections for growth at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2030. The market's expansion is driven by the rapid growth of key application industries such as food and beverages, pharmaceuticals, and personal care. Additionally, the increasing penetration of both organized retail and e-retail globally is significantly fueling the industry's growth. Specialty food ingredients play crucial roles in preserving, texturing, emulsifying, coloring, and enhancing the health benefits of processed foods. These ingredients range from micro-ingredients like vitamins, minerals, and enzymes to macro-ingredients, including specific proteins, fats, carbohydrates, and fibers. The rising demand for food products free from artificial additives and ingredients has led to a focus on clean-label ingredients, which emphasize natural and simple formulations. These ingredients not only en...