Healthy food habits have become a fashion statement in today’s world where health related issues are cropping up in large numbers. The number of medical issues such as heart diseases, cancer, osteoporosis, diabetes, strokes, etc. has increased drastically and with it, the healthcare costs have skyrocketed. This has led to an increasing awareness among the masses about the importance of health and diet, and their close relation to each other. According to the data provided by the Centers for Disease Control and Prevention (CDC), as of 2012, about 117 million people had one or more chronic health conditions. Hence, the growing shift in consumer preferences toward the types of food and lifestyle.
Identifying this shifting trend in food habits and lifestyle of the masses, the companies in the food industry have introduced the fermented food segment in their existing product portfolios, along with fermented food ingredients which are used in the formation of other food products. The fermented food and ingredients market consists of a wide range of fermented foods such as bakery and confectionery products, dairy products, vegetable and other non-alcoholic beverages and ingredients such as amino acids, organic acids, industrial enzymes, vitamins, and others. Fermented foods have an extended shelf-life, with high amount of micro-nutrients and eliminate anti-nutrients.
The ever growing health concerns among the population have pushed the growth in the fermented food and ingredients market. The need for new food preservation techniques has increased with the changing dietary pattern on a global scale. This is further driving the growth of the market. However, there are several health risks associated with fermented foods, which can act as a restraining force in the growth of the market. Moreover, the restricted range of temperature and pH for operation, as well as a low penetration rate in the emerging economies are restraining the growth of the market.
The global fermented food and ingredients market is expected to grow at a CAGR of 4.98% from 2017 to 2023. Fermented bakery and confectionery products are dominating the market currently and are expected to grow exponentially by 2023. This segment of food products has been in the market for a longer period of time, and is preferred by the majority of consumers, especially in European countries such as Turkey, Switzerland, Germany and Ireland. This is followed by the dairy products segment, which is estimated to grow at the highest rate from 2017 to 2023.
Among different ingredient types, such as amino acids, organic acids, industrial enzymes, vitamins, and others, amino acids are expected to generate the maximum revenue by the end of 2023. It has been found that food products containing amino acids have a wide range of health benefits and this has pushed the growth of this segment. However, enzymes segment is expected to grow at the highest CAGR due to the growing adoption rate of different industrial enzymes in food globally such as bakery enzymes, dairy enzymes, brewing enzymes, oil and fat processing enzymes, among others.
BIS Research has conducted an extensive market research on ‘Global Fermented Food & Ingredients Market – Analysis and Forecast 2017-2023’. The market intelligence report aims to provide an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints and opportunities prevailing in the industry.
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