Nutritional Labelling Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2302
Global Nutritional Labelling Market size is expected to witness considerable growth owing to rising demand for nutritious ingredients in food and increasing consumer consciousness regarding healthy diet. Consumers disposable income is anticipated to rise significantly which will add to consumption of pre-packaged and healthy foods. Demand is further supplemented by the rising concern about ingredients and alimentary requirements in diet.
Increasing demand of processed food rich in healthy content will propel the nutritional labelling market growth. Food manufacturing and packaging industries are focused to offer products with appropriate information regarding their product. The information on food products plays an important part in food purchases and influences consumer buying decision.
Nutritional labelling market is segmented based on pre-packaged food and beverage products. Rising demand for refreshments as processed food will propel the industry size. Increasing concern regarding nutritious content in snacks, dairy products and bakery products anticipated to support industry growth.
Stringent government regulation regarding caloric and nutritional labelling for packaged foods will propel industry size over the projected timeframe. The objective is to restrict commercialization of food products particularly to children and prohibit misleading claims through advertisements.
North America led by U.S is expected to witness substantial growth over the forecast period. Government initiatives coupled with favourable regulatory outline will favour market development. Increasing consumer consciousness coupled with growing disposable income is anticipated to propel processed food demand. This will drive nutritional labelling market size in the region.
Europe dominated the overall industry owing to stringent government regulations in the region. EU labelling rules ensures that consumers make an informed choice while purchasing their foodstuffs. In addition, guidelines are applicable to all foodstuffs whereas foods for dietary uses including baby foods, foods for weight reduction, dietary foods for special medical purposes and sportspeople are under specific directives.
Asia Pacific is expected to witness significant growth owing to rising disposable income in India and China. Demand is further supported by increasing necessity of imported and exported products cataloguing. Rising consumption of packaged food and health supplements will further propel industry size. In addition, increasing health awareness among consumers regarding nutritional content in food, will drive the nutritional labelling market growth over the forecast period.
Nutritional labelling market is highly fragmented in nature owing to presence of considerable number of small and large-scale companies. Key players in the industry are Correct Food Systems, Ashbury, Intertek and Eurofins. Manufacturers are progressively capitalizing with changing consumer requirement for healthy food. For instance, six major food corporations Mars, Coca-Cola, Mondelez International, PepsiCo, Nestle, and Unilever form a partnership to develop a color-coded nutrition label on their products packages for the European region.
Food manufacturers are gradually implementing meaningful actions, along with other stakeholders to promote healthier diets and balanced lifestyles for consumers. In addition, mounting pressure from health organizations will support nutritional labelling market growth.
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