The global lactose-free dairy products market was valued at $14,653.5 million in 2023 and is expected to reach $29,158.8 million by 2033, growing at a CAGR of 7.12% in the forecasted period of 2023-2033.
The global high-pressure processing equipment market is estimated to reach $1,442.1 million by 2033 from $662.4 million in 2023, growing at a CAGR of 8.09% during the forecast period 2023-2033.
The cultured meat market, which is expected to be valued at $1,154.8 million in 2024, is anticipated to undergo substantial expansion, reaching an estimated $3,810.6 million by 2033.
The Middle East and Africa's UHT milk market is experiencing notable growth, driven by changing consumer lifestyles, urbanization, and the increasing demand for convenient and long-lasting dairy products.
The MEA nutraceuticals market is experiencing substantial growth due to various factors that reflect the evolving consumer preferences and a growing awareness of the importance of health and wellness.
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Government initiatives and regulations promoting organic farming and sustainable practices also play a role in propelling the organic baby food market forward.
The Europe mycelium market was valued at USD 698.8 Million in 2022 and is projected to exceed USD 1,142.0 Million by the end of 2028.
The global mycelium market was valued at $2.85 billion in 2022 and is expected to reach $4.76 billion by 2028, growing at a CAGR of 9.39% between 2023 and 2028.
The Asia-Pacific Polyunsaturated Fatty Acids (PUFAs) market was valued at $1.10 billion in 2020 and is projected to reach $1.98 billion in 2026, following a CAGR of 10.25% during the forecast period 2021-2026.
The global insect protein market was valued at $342.87 million in 2021, growing at a CAGR of 26.49% to $1,386.55 million by 2027.
Microbes such as bacteria, molds, and yeasts are utilized for the food, feed, food ingredients, and production of wine, beer, bakery, and dairy products. Microbes produced using solar energy and biomass are known as solar-powered microbes.
The global mycelium market accounted for $2.48 billion in 2020 and is anticipated to grow with a CAGR of 7.7% and reach $3.84 billion by 2026.
The global clean label ingredients market was valued at $19.77 billion in 2020, which is expected to grow with a CAGR of 8.65% and reach $32.08 billion by 2026.
The global nitro-infused beverages market is expected to reach $48.50 million by 2026, with a CAGR of 21.66% during the forecast period 2021-2026.
The global ethylene absorber market is expected to reach $56,594.1 million by 2031, with a CAGR of 21.89% during the forecast period 2020-2031.
The global fermented plant-based alternatives market is expected to reach $422.26 million by 2026, with a CAGR of 5.0% from 2021 to 2026.
Global Food Traceability Market to Reach $26.31 Billion by 2025.
Global Cultured Meat Market to Reach $94.5 Billion by 2030.
The global smart food and beverages label market is projected to reach $51.9 million by 2029.
Global Nanotechnology for Food Packaging Market Anticipated to Reach $29.40 Billion by 2025.
Global Food Safety Testing Systems & Services Market Anticipated to Reach $24.54 Billion by 2025.
Global Aseptic Food and Beverage Packaging Market Anticipated to Reach $39.78 Billion by 2025.
Global CBD-Infused Beverages Market Anticipated to Reach $1,018.3 Million by 2025.
Global Lactose-Free Dairy Products Market Anticipated to Reach $12.09 Billion by 2025.
The global smart kitchen appliances industry is projected to grow significantly in the coming years, reaching a substantial $8.20 billion in 2024 as compared to $2.40 billion generated in 2018, registering a CAGR of 23.08% from 2019 to 2024.
The UHT(ultra high temperature) milk industry analysis by BIS Research projects the market to grow at a significant CAGR of 4.57% during the forecast period from 2019 to 2024.
The global food cold chain market to grow at a significant CAGR of 13% during the forecast period from 2019 to 2024.
The global plant-based food and beverage alternatives market to grow at a significant CAGR of 13.82% during the forecast period from 2019 to 2024.
The fermented food and ingredient market is projected to grow from $512.19 billion in the year 2018 to $689.34 billion by 2023, growing at a CAGR of 6.12% from 2018 to 2023.
The PEF market was valued $167.9 thousand in 2017 and is expected to reach $129.3 million by 2025.
The 3D food printing market is projected to grow from $XX million in the year 2018 to $525.6 million by 2023, at a CAGR of XX% from 2018 to 2023.
The food safety testing systems & services market is expected to grow from $XX million in 2017 to $19,629.4 million by 2022 at a CAGR of XX% from 2017 to 2022. This growth can be attributed to the increasing outbreak of foodborne illness, advancements in the usage of the latest technology for the food safety testing, stringent regulations, and globalization of food supply.
The smart food market is expected to grow from $325.26 billion in the year 2016, at a CAGR of 8.32% from 2017 to 2022.
The food safety testing market is expected to grow at a CAGR of 7.5% from 2016 to 2021. This growth is attributed to the rising outbreak of foodborne illness, advancements in using the latest technology for the food safety testing, stringent regulations, and globalization of food supply.
The isoflavones market is expected to grow from $11.58 billion in the year 2016 to $21.90 billion by 2021 at a CAGR of 13.7% from 2017 to 2021.
The fermented foods and ingredients market is expected to grow from $636.89 billion in the year 2016 to $888.76 by 2023, at a CAGR of 4.98% from 2017 to 2023.
The food traceability market is expected to grow from $11.63 billion in 2016 to $16.09 billion by 2022, at a CAGR of 5.56% from 2016 to 2022. This growth can be attributed to the rise in the food safety concerns within the food industry, which has led to an increase in the adoption of food traceability technologies across the globe.
The global food tech market is expected to grow at a CAGR of 5.8% through 2015 to 2022.
The global mycelium market accounted for $2.48 billion in 2020 and is anticipated to grow with a CAGR of 7.7% and reach $3.84 billion by 2026.
Global Cultured Meat Market to Reach $94.5 Billion by 2030.
Global Lactose-Free Dairy Products Market Anticipated to Reach $12.09 Billion by 2025.
The food safety testing systems & services market is expected to grow from $XX million in 2017 to $19,629.4 million by 2022 at a CAGR of XX% from 2017 to 2022. This growth can be attributed to the increasing outbreak of foodborne illness, advancements in the usage of the latest technology for the food safety testing, stringent regulations, and globalization of food supply.
The fermented foods and ingredients market is expected to grow from $636.89 billion in the year 2016 to $888.76 by 2023, at a CAGR of 4.98% from 2017 to 2023.
The food traceability market is expected to grow from $11.63 billion in 2016 to $16.09 billion by 2022, at a CAGR of 5.56% from 2016 to 2022. This growth can be attributed to the rise in the food safety concerns within the food industry, which has led to an increase in the adoption of food traceability technologies across the globe.
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FoodTech
FoodTech Market & Industry Overview
The food technology industry focuses on the application of technology and innovation in various aspects of the food and beverage sector. This includes areas such as food processing, packaging, preservation, safety, and distribution. The industry is driven by the increasing demand for sustainable, convenient, and nutritious food options, as well as emerging trends like plant-based alternatives and personalized nutrition. Key players in the industry include foodtech startups, food manufacturers, technology companies, and research institutions. The industry faces challenges such as regulatory compliance, consumer acceptance, and ensuring food safety. However, it also presents opportunities for increased efficiency, reduced food waste, enhanced nutrition, and improved supply chain management. Overall, the food technology industry is at the forefront of shaping the future of food production and consumption.
Food industry has understood the importance of integrating new technologies such as blockchain, nanotechnology & genetic engineering, IoT and 3D printing.
BIS Research explores the overall food industry by segregating it into two main segments. These are as shown in the figure below:
Innovative Food
In the innovative food market, companies are introducing a range of processed and inventive food and beverage options that prioritize health and sustainability. This includes products like cultured meat, plant-based alternatives, fermented food, lactose-free dairy, and UHT milk. BIS Research recognizes the importance of promoting a healthier diet and supports clients in their pursuit of sustainability goals.
Food Manufacturing & Supply Chain
Digitalization is playing a significant role in transforming the food manufacturing and supply chain market. Companies are embracing advanced technologies to improve efficiency, automation, and safety in food manufacturing processes. BIS Research specializes in providing comprehensive insights on the technological advancements impacting the food supply chain, empowering businesses to make informed decisions and optimize their operations.
Hundreds of businesses from this industry have trusted BIS Research’s insight reports to make those important decisions and grow in the market. From a geographical perspective, we are witnessing early adoption of deep technologies in the food market in the following countries: USA, Canada, Germany, Netherlands, Switzerland, U.K., France amongst many more.
Our customer base expands across several sections including small enterprises, medium-scale operations, Fortune 50 companies, as well as government organizations, venture capitalists and deemed universities.
The future of the food industry is expected to witness increased intervention of technologies in the entire food supply chain and rising demand of innovative food & beverages to fulfil the nutrition requirements. BIS Research is keeping a close watch on the latest food industry developments. In case you do not find a report of your choice in the list above, please feel free to contact us so that we can look at customizing one for you.
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