Synthetic Food Market size is predicted to cross USD 31 billion by 2032, according to a new research report by Global Market Insights Inc.
The report reveals that rapid urbanization, rising disposable incomes, and the high-value processing of agricultural products will drive the usage of synthetic biology foods, especially in emerging economies. The food processing sector in India, for example, has been growing steadily and is accounting for a sizable portion of the overall food market. In addition, the increasing number of health-conscious consumers is likely to augment the adoption of synthetic food additives in processed foods, since they can be formulated to reduce the level of fat and other unhealthy ingredients.
Strong focus on development of visually appealing food to spur the use of synthetic food colors
Synthetic food market share from the color product segment is slated to witness over 9% CAGR through 2032, driven by the high emphasis on developing engaging and visually appealing foods to address dietary needs and consumer preferences. Food & beverage manufacturers specifically utilize bold and bright colors to appeal to young consumers, subdued colors for healthier goods, and customizable colors to meet specific consumer demands. However, the shifting interest from artificial coloring to natural counterparts may limit the production of synthetic food colors.
Synthetic antioxidants to gain adoption in fats & oils due to increased shelf life & other benefits
In terms of application, the antioxidants segment will reach USD 1 billion by 2032, due to its capability to prevent oxidation, spoilage, and rancidity. Moreover, they can help extend the shelf life and increase the stability and quality of fats and oils. However, there has been a growing awareness about the health impacts of the continual consumption of synthetic antioxidants. The report reveals that these factors are likely to boost the consumption of alternatives including acerola, thereby hindering industry expansion to some extent.
Browse key industry insights spread across 300 pages with 1165 market data tables and 10 figures & charts from the report, “Synthetic Food Market Size By Product (Colour, Enzymes, Hydrocolloids, Flavour & Fragrances, Antioxidants, Emulsifiers, Fat replacers), By Application (Beverages, Dairy & Frozen Products, Bakery & Confectionery, Meat, Poultry & Seafood, Processed Food, Pet Food, & More), & Forecast, 2023-2032” in detail along with the table of contents:
Increasing efforts to limit animal cruelty will fuel synthetic meat consumption in North America
North American synthetic food market is projected to register a 7% CAGR between 2023 and 2032. The mounting number of consumers seeking substitutes for traditional animal-based products is one of the key growth drivers, the report claims. Multiple state officials have also been raising awareness regarding animal cruelty in the region. These factors will also accelerate the development of synthetic foods or meats as they can address concerns over animal welfare and environmental sustainability, reduce food insecurity, and cater to robust demand for protein.
Expansion of business footprint to emerge as key strategy for the industry growth
Some of the leading players in the synthetic food market include Symrise AG, Royal DSM N.V., Naturex S.A., Flavorchem Corporation, Sensient Technologies, Falcon Essential Oils, Fiorio Colori, FMC Corporation, Döhler Group, Chr. Hansen A/S, Biolandes SAS, BASF SE, Allied Biotech Corp., Archer Daniels Midland Company, and Aarkay. These companies are focusing on product developments, acquisitions, collaborations, and business expansions to increase their consumer base and solidify their presence in the market.