The food safety testing market is projected to increase at a CAGR of 8.9 percent from 2017 to 2025, according to market intelligence company Transparency Market Research.
Food and beverage accounted as the largest end-use segment in 2016 and is estimated to generate revenue worth US$448.5 million by 2025.
The global food traceability market is expected to grow at a CAGR of 12.2 percent, according to Stratistics MRC.
The global low intensity sweeteners market is projected to grow at a CAGR of 5.8 percent between 2017 and 2025, according to Transparency Market Research.
Ralf Schäffer, executive director at Sollich, gives his opinion on which ingredients and consumer demands will continue to be popular this year.
No longer considered a niche segment, the global Islamic economy is estimated to be at US$1.9 trillion, according to Thomson Reuters. Halal food and beverages were worth US$1.2 trillion and is predicted to rise to US$1.9 trillion by 2021, representing a significant portion of Muslim consumer spending.
Growing at an annual rate of almost 24 percent since 2011, the functional drinks market in China was worth over US$9.1 billion in 2015 when compared to US$3.9 billion in 2011, according to a report by Research & Markets.
Global UHT milk market is predicted to grow with a compound annual growth rate of 14 percent, with Asia-Pacific witnessing the fastest growth at compound annual growth rate of 20.6 percent until 2020.
Value-conscious German consumers are still on the lookout for the best deals in bakery and cereals. To avoid price wars and encourage consumers to trade-up, manufacturers need to more effectively meet consumers’ desire to treat themselves.