Overview of the oat-based snacks market
According to the market research analysts at Technavio, the global oat-based snacks market is anticipated to witness steady growth and will post a CAGR of close to 4% during the forecast period. The augmented demand for gluten-free products is one of the significant factors driving this market’s growth. Gluten is form of protein, which is pre-dominantly found in cereals like barley, wheat, and rye that are used in making bread and bakery products. Gluten gives pliability to the dough and helps to keep the form. However, it may cause inflammation in the small intestine and result in celiac diseases, where it becomes difficult for the body to absorb the nutrients and makes the body weak. This has led to many people increasingly opting for organic and gluten-free food products. Therefore, the majority of manufacturers these days are focussing more on gluten-free products to capture the market share by meeting consumer taste and preferences. For example, General Mills announced its plan to produce gluten-free Cheerios (a cereal brand) by removing the traces of rye, wheat, and barley that generally come into contact during the transportation of oat.
In terms of geography, Europe was the highest revenue contributor in the global oat-based snacks market during 2016 and will continue to lead the market in the coming years. The proliferation of this market in Europe is attributed to factors such as hectic lifestyles and on-the-go consumption, as well as the growing popularity of oat-based bars, biscuits, and snacks. Moreover, an increasing number of individuals in the region are opting for healthy eating. An aging population and increasing focus on leading a healthy lifestyle has become very vital to the
Overview of the global non-GMO foods market
The global non-GMO (genetically modified organism) foods market is anticipated to grow rapidly and post a CAGR of more than 16% during the forecast period. The increasing number of new product launches by the players will drive the growth prospects for the global non-GMO foods market until the end of 2021. One of the major factors responsible for the growing number of new product launches in the market is the increasing demand for non-GMO food products among consumers. For instance, it is estimated that there are about 2,000 new non-GMO product launches in the US every year, which is expected to increase in the coming years. Moreover, a large number of vendors are increasingly focusing on providing a new approach to healthy breakfast eating to their consumers with blended whole grains, sprouts, and nuts and seeds.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors prompting the farmers to switch to non-GMO food crops are the rising price of GMO grain products, decreasing demand for GMO food products among consumers, and increasing price of GMO seeds. Also, the increasing trend of banning the GMO food products across various countries in the region will surge the sales of non-GMO food products. For instance, in 2013, Peru banned genetically modified foods in the country.
Competitive landscape and key vendors
The global non-GMO foods market is highly diversified
Outlook of the global virgin coconut oil market
Technavio’s market research analyst predicts the global virgin coconut oil market to grow steadily at a CAGR of around 10% by 2021. One of the key factors influencing growth is the increasing investments in the global virgin coconut oil market. This influx of investments has supported the players in the market to increase their production capabilities, to cater to the exponentially increasing demand from the consumers. Moreover, government policies in favor of industry players have further boosted the growth opportunities for the vendors in terms of market shares. For instance, the Sri Lankan government has announced that it will be allocating budgets for its Kapruka Ayojana loan scheme to provide loans and subsidies to the coconut manufacturers to improve their production. In India, a new facility is being constructed at Indian Council of Agricultural Research-Central Coastal Agricultural Research Institute (ICAR-CCARI), Goa, to extract virgin coconut oil.
In terms of geography, APAC accounted for the maximum market share in 2016 and will continue to dominate the market for the next few years. APAC is the largest producer of virgin coconut oil, and most of the oil produced in the region is mainly exported to other geographic regions. With the growing demand across the globe, the players are finding it difficult to bridge the gap between the consumers and the product. Various governments in the region are extending technological support to the players to improve their production capabilities. For instance, the Coconut Development Board under the Ministry of Agriculture in Kerala, India is giving considerable technological guidance to the players to increase production.
Competitive landscape and key vendors
The virgin coconut oil market is highly fragmented because of the
Market overview of industrial dryers for agricultural products
Technavio’s market research analyst predicts the global industrial dryers market for agricultural products to grow steadily at a CAGR of above 2% by 2021. The growing packaged food industry, expanding phytopharmaceutical products market, and the increasing focus on the branding of dried products have been the key factors responsible for the growth of this industry. Dehydration is considered to be one of the best methods of preservation, especially for excess produced or seasonal agricultural products consumed locally or exported to other countries. This rise in export of food products can be attributed to the international cuisines penetrating households globally, herbs and spices have found new markets across different regions as packaged seasonal herbs, local spices, and functional tea. Also, the growing health and wellness industry and health-conscious consumers who prefer dried fruits will be crucial in propelling the growth of this market during the forecast period.
During 2016, APAC dominated the market and accounted for the majority of the total market share. The major contribution comes from China, Japan, and India, and are the key to the growth of the industrial dryer’s market for agricultural products. According to this market research, APAC has registered the strongest demand for industrial drying equipment for vegetables, fruits, nuts, herbs, spices, and phytopharmaceutical raw materials, in comparison to other regions. Moreover, favorable economic conditions and the increasing demand for organic vegetables and fruits will be the key factors in contributing to the growth of the market in this region during the forecast period.
Competitive landscape and key vendors
Markets in fast-growing countries such as China and India in APAC and Turkey in Eastern Europe present a considerable growth
Overview of the global industrial chocolate market
Technavio’s market research analyst predicts the global industrial chocolate market to grow at a moderate rate during the forecast period, registering a CAGR of more than 3%. Industrial chocolate is primarily used in-house by vertically integrated manufacturers or sold to third parties to create finished chocolate products. Food service providers, such as artisans, chefs, and food manufacturers who create end-consumer products such as bakery products, chocolate confectionery, ice cream, and beverages, are the primary consumers of industrial chocolate. One of the latest developments in this market is the growing demand for organic and sugar-free chocolates. Barry Callebaut, a popular manufacturer of organic chocolates, offers a large variety of flavors and textures and manufactures organic chocolates that are certified by organizations like ECOCERT and Certisys.
Vendors in the market are coming up with innovations in terms of chocolate manufacturing processes to open new revenue options, compete better with their counterparts, and to generate new business ventures and collaborations. For instance, Barry Callebaut recently introduced a wide range of products under the Choc37.9 name. These chocolates have greater thermotolerance and do not melt easily during warmer temperatures when compared to the conventional ones. The company has also announced its new procedure of milk chocolate production with only 25% fat.
Competitive landscape and key vendors
The global industrial chocolate market is highly concentrated, with the dominance of four major vendors including Barry Callebaut, Cargill, and CEMOI, and Blommer Chocolate. These vendors are making huge investments in capacity expansion and new factories to increase their market share. The
Overview of the global mushroom market
The global mushroom market is anticipated to grow at a steady rate and will post a CAGR of more than 8% during the forecast period. The increasing medicinal values associated with mushrooms will drive the growth prospects for the global mushroom market until the end of 2020. One of the major factors responsible for its growing preference among consumers is the presence of minerals such as antioxidants and selenium, which plays a vital role in liver enzyme function and aids in combating cancer by detoxifying cancer-triggering compounds in the body. In addition, it also reduces tumor growth in the body and prevents inflammation. Moreover, mushrooms contribute to cardiovascular health as it contains Vitamin C, fiber, and potassium. Also, since mushrooms that are high in potassium and low in sodium content, it reduces the chances of cardiovascular diseases and high blood pressure.
In terms of geography, Europe accounted for the maximum market share during 2015 and will continue to dominate the market for the next few years. One of the major factors responsible for the growing preference of mushrooms in this region is the growing supply of quality fresh and dried mushrooms at the best possible price. Moreover, the sales of dried and fresh mushrooms are expected to increase in the coming years because of its associated recipe sophistication and convenience. It has also been noted that European buyers demand niche and premium mushroom products since they have more purchasing power. Some of the major importers of mushrooms among developing countries include the Netherlands, Germany, France, and the UK. Finally, since supermarkets are considered as the most preferred channel for shopping among consumers, factors such as customer relation, display and presentation, and value for money, positively influence the buying decision of European buyers.
Food is a broad commodity that includes everything from canned, fresh, and frozen foods to pasta and cooking oils. Many manufacturers and suppliers of packaged food have expanded their distribution networks and modified their retail formats in order to meet changing consumer demands resulting from better standards of living and changes in eating habits across the globe.
Technavio’s consumer data and market analysis advances your knowledge of the industry and its competitive environment and provides strategic insights on food industry trends, food processing, frozen food, and snack food.