Synthetic Food Market
Synthetic Food Market Forecasts to 2030 - Global Analysis By Product Type (Synthetic Dairy, Synthetic Meat, Flavoring Agents, Proteins and Amino Acids, Synthetic Sweeteners, Food Colorants, Enzymes, and Other Product Types), Source, Distribution Channel, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $19.00 BN |
|
Projected Year Value (2030) |
US $31.88 BN |
|
CAGR (2024- 2030) |
9.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Synthetic Food Market is accounted for $19.00 billion in 2024 and is expected to reach $31.88 billion by 2030 growing at a CAGR of 9.0% during the forecast period. Food items that are produced artificially, frequently with the use of biotechnology, to replicate the flavour, consistency, and nutritional content of conventional foods are commonly referred to as synthetic foods. This includes foods made by fermentation or cellular agriculture, lab-grown meats, and plant-based substitutes. The goal of synthetic food is to address concerns about food security and animal welfare while lowering the environmental effect of traditional farming by offering ethical, resource-efficient, and sustainable substitutes for conventional food.
According to the Good Food Institute, plant-based food retail sales in the U.S. have increased by 1% to reach USD 8.1 billion in 2023.
Market Dynamics:
Driver:
Rising demand for sustainable food
Growing environmental consciousness and the demand for environmentally friendly food production practices are the main drivers of the growing demand for sustainable food. Customers are become increasingly aware of the environmental impact of the foods they choose. A sustainable alternative to conventional meat production is provided by synthetic foods, such as lab-grown meat and plant-based substitutes. These substitutes generate fewer greenhouse gases and use fewer resources, including land and water. Government programs and laws that encourage environmentally friendly behavior also contribute to the trend toward sustainable food procurement.
Restraint:
Competition with traditional foods
Traditional foods have established consumer trust, cultural value, and taste preferences, which make them fierce competitors in the synthetic food business. It is challenging for synthetic substitutes to become widely accepted as traditional foods are seen as healthier and more natural. Many consumers remain skeptical about the safety and nutritional benefits of synthetic foods, associating them with artificial additives. Synthetic foods can also be more expensive to produce, which makes them less accessible than conventional options. Further impeding the synthetic food market's capacity to compete with the established presence of conventional foods are regulatory obstacles and restricted supply.
Opportunity:
Increased demand for protein
Synthetic foods, such as lab-grown meat and plant-based protein alternatives, offer a promising solution to meet this demand. These alternatives provide a sustainable and scalable source of protein without the environmental impact of traditional meat production. Additionally, synthetic foods can be engineered to have enhanced nutritional profiles, catering to health-conscious consumers. The growing trend of fitness and health awareness further supports the demand for protein-rich synthetic foods. This presents a significant opportunity for the synthetic food market to expand.
Threat:
Lack of infrastructure
The lack of infrastructure necessary for large-scale production and distribution presents serious hurdles for the synthetic food sector. Establishing facilities for lab-grown meat and other artificial food items necessitates a large equipment and technological investment. Gaining the trust of customers also depends on upholding strict safety and quality control requirements. Entering the market for synthetic meals is made more difficult by the lack of established supply chains and distribution networks. Moreover, regulatory hurdles and the need for approval from food safety authorities can delay the commercialization process.
Covid-19 Impact
The Covid-19 pandemic has accelerated the adoption of synthetic foods as consumers seek safer and more sustainable food options. The disruption of traditional meat supply chains and concerns about zoonotic diseases have highlighted the need for alternative protein sources. The pandemic has also increased consumer awareness of the environmental impact of food production, driving demand for sustainable alternatives. However, the economic downturn has affected investment in synthetic food startups, posing a challenge to their growth.
The synthetic meat segment is expected to be the largest during the forecast period
The synthetic meat segment is expected to account for the largest market share during the forecast period, due to its potential to address environmental and ethical concerns associated with traditional meat production. Lab-grown meat offers a sustainable alternative that requires fewer resources and produces lower greenhouse gas emissions. Additionally, synthetic meat can be produced with enhanced nutritional profiles, catering to health-conscious consumers.
The beverages segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the beverages segment is predicted to witness the highest growth rate, due to the increasing demand for innovative and functional beverages. Synthetic ingredients, such as lab-grown coffee and tea, offer sustainable alternatives to traditional beverage production. Additionally, the growing trend of health and wellness is driving demand for beverages with enhanced nutritional benefits. Furthermore, the rise of ready-to-drink functional beverages is boosting the demand for synthetic ingredients.
Region with largest share:
During the forecast period, Asia Pacific region is expected to hold the largest market share, due to growing population and increasing disposable incomes. The region's large consumer base is driving demand for sustainable and protein-rich food alternatives. Additionally, government initiatives and investments in sustainable food production are supporting the growth of the synthetic food market in Asia Pacific. Moreover, the rising awareness of environmental issues and health benefits associated with synthetic foods is driving consumer adoption.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to the strong presence of synthetic food start-ups and research institutions. Increasing consumer awareness of environmental and health issues is boosting demand for synthetic food alternatives. Government support and favourable regulatory frameworks are also contributing to the market growth in North America. The rising trend of plant-based diets and alternative protein sources is further supporting the growth of the synthetic food market.
Key players in the market
Some of the key players profiled in the Synthetic Food Market include Beyond Meat, Aleph Farms, DSM, Tyson Foods, Mosa Meat, Memphis Meats, Future Meat Technologies, Impossible Foods, Perfect Day, New Culture, Remilk, Formo, Wildtype, Eat Just, SuperMeat, Finless Foods, Wild Earth, Geltor, Shiok Meats, and CellulaREvolution.
Key Developments:
In Feb 2019, Chr. Hansen developed a novel sweet potato variety specifically designed for its usage as a food coloring agent. The product was the outcome of the Danish company's ten-year breeding program. The Hansen sweet potato was used as the basis for Chr. Hansen's FruitMax range of vivid red solutions. These solutions have been utilized in confectionery, water ice, bakery items, bakery decorations, fruit preparation, and fermented milk product.
Product Types Covered:
• Synthetic Dairy
• Synthetic Meat
• Flavoring Agents
• Proteins and Amino Acids
• Synthetic Sweeteners
• Food Colorants
• Enzymes
• Other Product Types
Sources Covered:
• Animal-Based
• Plant-Based
Distribution Channels Covered:
• Online Retail
• Specialty Stores
• Supermarkets/Hypermarkets
• Convenience Stores
Applications Covered:
• Beverages
• Bakery and Confectionery
• Dairy and Frozen Products
• Animal and Pet Food
• Savoury and Snacks
• Other Applications
End Users Covered:
• Health-Conscious Consumers
• Vegetarians/Vegans
• Children and Adolescents
• Adults and Elderly
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Synthetic Food Market, By Product Type
5.1 Introduction
5.2 Synthetic Dairy
5.3 Synthetic Meat
5.4 Flavoring Agents
5.5 Proteins and Amino Acids
5.6 Synthetic Sweeteners
5.7 Food Colorants
5.8 Enzymes
5.9 Other Product Types
6 Global Synthetic Food Market, By Source
6.1 Introduction
6.2 Animal-Based
6.3 Plant-Based
7 Global Synthetic Food Market, By Distribution Channel
7.1 Introduction
7.2 Online Retail
7.3 Specialty Stores
7.4 Supermarkets/Hypermarkets
7.5 Convenience Stores
8 Global Synthetic Food Market, By Application
8.1 Introduction
8.2 Beverages
8.3 Bakery and Confectionery
8.4 Dairy and Frozen Products
8.5 Animal and Pet Food
8.6 Savoury and Snacks
8.7 Other Applications
9 Global Synthetic Food Market, By End User
9.1 Introduction
9.2 Health-Conscious Consumers
9.3 Vegetarians/Vegans
9.4 Children and Adolescents
9.5 Adults and Elderly
9.6 Other End Users
10 Global Synthetic Food Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Beyond Meat
12.2 Aleph Farms
12.3 DSM
12.4 Tyson Foods
12.5 Mosa Meat
12.6 Memphis Meats
12.7 Future Meat Technologies
12.8 Impossible Foods
12.9 Perfect Day
12.10 New Culture
12.11 Remilk
12.12 Formo
12.13 Wildtype
12.14 Eat Just
12.15 SuperMeat
12.16 Finless Foods
12.17 Wild Earth
12.18 Geltor
12.19 Shiok Meats
12.20 CellulaREvolution
List of Tables
1 Global Synthetic Food Market Outlook, By Region (2022-2030) ($MN)
2 Global Synthetic Food Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Synthetic Food Market Outlook, By Synthetic Dairy (2022-2030) ($MN)
4 Global Synthetic Food Market Outlook, By Synthetic Meat (2022-2030) ($MN)
5 Global Synthetic Food Market Outlook, By Flavoring Agents (2022-2030) ($MN)
6 Global Synthetic Food Market Outlook, By Proteins and Amino Acids (2022-2030) ($MN)
7 Global Synthetic Food Market Outlook, By Synthetic Sweeteners (2022-2030) ($MN)
8 Global Synthetic Food Market Outlook, By Food Colorants (2022-2030) ($MN)
9 Global Synthetic Food Market Outlook, By Enzymes (2022-2030) ($MN)
10 Global Synthetic Food Market Outlook, By Other Product Types (2022-2030) ($MN)
11 Global Synthetic Food Market Outlook, By Source (2022-2030) ($MN)
12 Global Synthetic Food Market Outlook, By Animal-Based (2022-2030) ($MN)
13 Global Synthetic Food Market Outlook, By Plant-Based (2022-2030) ($MN)
14 Global Synthetic Food Market Outlook, By Distribution Channel (2022-2030) ($MN)
15 Global Synthetic Food Market Outlook, By Online Retail (2022-2030) ($MN)
16 Global Synthetic Food Market Outlook, By Specialty Stores (2022-2030) ($MN)
17 Global Synthetic Food Market Outlook, By Supermarkets/Hypermarkets (2022-2030) ($MN)
18 Global Synthetic Food Market Outlook, By Convenience Stores (2022-2030) ($MN)
19 Global Synthetic Food Market Outlook, By Application (2022-2030) ($MN)
20 Global Synthetic Food Market Outlook, By Beverages (2022-2030) ($MN)
21 Global Synthetic Food Market Outlook, By Bakery and Confectionery (2022-2030) ($MN)
22 Global Synthetic Food Market Outlook, By Dairy and Frozen Products (2022-2030) ($MN)
23 Global Synthetic Food Market Outlook, By Animal and Pet Food (2022-2030) ($MN)
24 Global Synthetic Food Market Outlook, By Savoury and Snacks (2022-2030) ($MN)
25 Global Synthetic Food Market Outlook, By Other Applications (2022-2030) ($MN)
26 Global Synthetic Food Market Outlook, By End User (2022-2030) ($MN)
27 Global Synthetic Food Market Outlook, By Health-Conscious Consumers (2022-2030) ($MN)
28 Global Synthetic Food Market Outlook, By Vegetarians/Vegans (2022-2030) ($MN)
29 Global Synthetic Food Market Outlook, By Children and Adolescents (2022-2030) ($MN)
30 Global Synthetic Food Market Outlook, By Adults and Elderly (2022-2030) ($MN)
31 Global Synthetic Food Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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