Synthetic Food Global Market Report 2024 - By Demand, Size, Share, Industry Trends, Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Synthetic Food Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $22.06 billion In 2028 At A CAGR Of 5.9%.
The synthetic food market size has grown strongly in recent years. It will grow from $16.48 billion in 2023 to $17.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to population growth, increasing urbanization, changing dietary habits, rising health consciousness, globalization of food supply chains.

The synthetic food market size is expected to see strong growth in the next few years. It will grow to $22.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to growing population, increasing demand for sustainable food sources, rising awareness of personalized nutrition, expansion of alternative protein sources, government initiatives supporting synthetic food. Major trends in the forecast period include development of plant-based and lab-grown alternatives, personalized nutrition trends, focus on sustainability in food production, increased use of precision fermentation, rising popularity of 3d-printed food.

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Synthetic Food Market Major Segments
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

Key Driver - Rising Demand For Alternative Protein Sources Fuels Growth In The Synthetic Food Market
The growing demand for alternative protein sources is expected to propel the growth of the synthetic food market going forward. Alternative protein sources are made from plants, animals, or fermentation-produced cells. The increasing demand for protein has resulted in rapid innovations devised by the food industry in categories such as alternative proteins such as lab-grown meat, plant-based meat, single-cell proteins from yeast or algae, and edible insects. Therefore, alternative protein sources and synthetic food are part of the more significant trend toward developing sustainable and healthy diets. For instance, in August 2022, according to the National Research Council Canada, a Canada-based government research organization, the need for alternative proteins in Canada, including plant-based proteins, was anticipated to expand by 14% annually by 2024 and by 2054, the overall protein demand is expected to double to 943.5 million metric tons. Therefore, the growing demand for alternative protein sources is driving the growth of the synthetic food market.

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Prominent Trend - Product Innovations Drive Growth In The Synthetic Food Market
Product innovations are the key trend gaining popularity in the synthetic food market. Major companies operating in the synthetic food market are introducing innovative products with unique flavors to sustain their position in the market. For instance, in August 2021, Shiok Meats Pte. Ltd., a Singapore-based cellular aquaculture and cell-based meat company, launched the world's first-ever cell-based crab meat. Shiok Meats' cell-based meats produced crab cake, chili crab, lobster-flavored potato chips, and tom yum shrimp soup. Shiok Meats' crab and OmniMeat, a combination of cell-based and plant-based meat, were used to make the Crab Cake meal, and Shiok Meats' crab was used to make the Chili Crab entree.

Synthetic Food Market Players
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.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the synthetic food market in 2023. The regions covered in the synthetic food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Synthetic Food Market Report Structure
3. Synthetic Food Market Trends And Strategies
4. Synthetic Food Market - Macro Economic Scenario
5. Synthetic Food Market Size And Growth
…..
27. Synthetic Food Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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