Outlook of the global canned fruits market
Technavio’s market research analyst predicts the global canned fruits market to grow at a CAGR of around 4% until 2020. One of the main drivers for this market is the growing demand for packaged and convenience food. Factors such as the augmented demand for single-serving fruit containers and the rising preference for enhanced food nutrition and durability are anticipated to fuel the prospects for market growth during the predicted period. Also, the high shelf life of canned fruits, especially when compared to fresh fruits, is another significant factor that will impel growth in this market until 2020.
An important factor that drives growth in this market is the populace’s rising demand for organic canned fruits. Recently, it has been observed that people prefer organic canned fruits over non-organic fruits as they are processed and produced by natural techniques, which involves the use of green manure and crops that are biologically protected. Furthermore, factors like the populace’s increasing consciousness about the benefits of a balanced diet and nutrition are envisaged to fuel the prospects for market growth.
Geographical segmentation of the canned fruits market
- North America
In this segmentation analysis, Technavio’s market research analysts have estimated the European region to account for more than one-third of the total market share during the forecast period. Much of this growth can be attributed to the long lifespan of canned fruits, especially when compared to fresh fruits. The availability of a wide array of canned exotic tropical fruits is another factor that will impel market growth in this region during the estimated period.
Overview of the global extruded snacks market
Technavio’s market research analysts predict that the global extruded snacks market will grow at a CAGR of around 4% by 2020. Nowadays, the consumers are more attentive about their snacking habits and are increasingly adopting healthy snacking foods such as extruded snacks because of their metabolic benefits. Healthy snacking is also considered as a complement to weight-loss plans, and these snack foods provide the required vitamins and nutrients that a body needs. The nutritional contents of extruded snacks can be altered by modifying the digestion capability of protein and starch while the low GI and high bioactive containing extruded snacks can be customized to maintain balanced nutrition. The growing demand for healthy snacking and weight management will drive the global extruded snacks market during the forecast period.
APAC is expected to be the largest revenue-generating region in the global market and is likely to occupy more than 43% of the total market revenue by 2020. Consumers in APAC prioritize the convenience of buying and taste of snacks which has augmented the demand for extruded snacks in the region. Factors such as wide obtainability of various snacking options available at reasonable prices will boost the growth prospects for the market growth in this region during the forecast period.
Competitive landscape and key vendors
The market is highly fragmented because of the presence of numerous small and large vendors who compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion. The growth opportunities of these market players depend on the changing consumer spending pattern, regional, national, and local economic conditions, and demographic trends. Intense
Market outlook of the fish oil products market in the US
Technavio’s market research analyst predicts the fish oil products market in the US to grow at a CAGR of around 1% between 2016 and 2020. The primary factor driving the fish oil products market in the US is the health benefit associated with its consumption. Fish oils contain omega-3 fatty acids, EPA and DHA, which help treat a wide range of ailments including cardiac issues, cancer, diabetes, inflammation, immune disorders, ophthalmic conditions, and ulcers. It is also used to aid in weight loss and maintaining a healthy pregnancy.
The development of aquaculture in the US is another significant trend in this market. Apart from fish oil produced from whole fish, an increasing proportion of fish oil will be derived from trimmings as a by-product of fish processing over the next four years.
Segmentation by application of the fish oil products market in the US
- Direct human consumption
Aquaculture accounted for more than half of the market size in 2015. Marine aquaculture in the US contributes to seafood supply, supports commercial fisheries, restores habitat, and maintains economic activity in coastal communities in coastal states.
Competitive landscape and key vendors
The fish oil products market in the US is highly fragmented with the presence of numerous small, medium, and large vendors having a significant presence in the market. Vendors in the market compete on the basis of numerous factors such as price, quality, innovation, service, reputation, distribution, and promotion.
The top six vendors in the market are -
- Nordic Naturals
Market outlook of the global cheese market
Technavio’s research analyst predicts the global cheese market to grow at a CAGR of 4% in terms of revenue between 2016 and 2020. Cheese is a good source of protein, calcium, and phosphorus and is also beneficial in preventing tooth decay. In the early ages, cheese was a popular wartime and travel food due to its portability and long shelf life. An increase in the number of fast food restaurants, food joints, dining restaurants, and households is driving the growth of this market.
A rising health-conscious population is likely to fuel the demand for low-fat cheese during the forecast period. Due to changing lifestyle and long working hours, consumers have less time for exercise. Therefore, to stay fit, they prefer food with less fat content. Moreover, due to an increase in obesity-related problems, most people are avoiding food with high-fat content. This has increased the demand for low-fat cheese. Low-fat cheese contains less amount of saturated fat, low sodium content, and low-density lipoprotein.
Segmentation by product and analysis of the global cheese market
- Natural cheese
- Processed cheese
Natural cheese has become an important ingredient in fast food like pizza and burgers and is used by restaurants and roadside eating joints. It forms an important part of many cuisines, especially in Europe. The popularity of natural and specialty cheese such as cottage cheese, cheddar cheese, and cream cheese is growing as consumers look for healthier products apart from the traditional varieties.
Segmentation by distribution channel and analysis of the global cheese market
- Hypermarkets and supermarkets
- Food specialists
- Convenience stores
Outlook of the dietary fiber market
Technavio’s market research analyst predicts the global dietary fiber market to grow at a CAGR of around 13% until 2020. One of the major drivers for this market is the immense health benefits associated with the consumption of dietary fibers. Recent studies have shown that people with high intake of fibers are less prone to diseases such as obesity, stroke, and hypertension. Consequently, people across the globe have become more concerned and cautious about their health and fitness and are paying more attention to the nutritional content of the food they consume. This change in the populace’s preferences will result in the augmented demand for fiber-based food products, which in turn will result in the growth of the dietary fiber market during the forecast period.
The growing demand for dietary fiber as a functional food is expected to have a positive impact on the market during the forecast period. Also, the launch of different dietary fiber-based products is another factor that will boost the prospects for market growth until 2020. Companies in the food and beverage industry are predominantly adopting new strategies that focus on dietary fibers as a way to market their products and brands. Also, factors such as the rising demand for bakery products is expected to fuel the global market for dietary fibers until 2020.
Segmentation by product and analysis of the dietary fiber market
- Soluble fiber
- Insoluble fiber
In this market research, analysts have estimated the insoluble fiber segment to account for more than 55% of the total market share during the forecast period. Factors like the growing number of people with obesity and the increasing incidence of several health problems, such as cholesterol and coronary heart disorder, will fuel the demand for insoluble dietary
Overview of the global cocoa market
Technavio’s market research analyst predicts that the global cocoa market will grow at a modest CAGR of over 3% by the end of 2020. One of the key drivers for market growth is the range of uses for cocoa powder. Since cocoa powder has a universal flavor, the market space will offer scope for multiple applications. Cocoa is an essential ingredient in products related to baking, dairy, and even beverages. After processing, cocoa powder can be used in syrups, toppings, confectionery, as a coloring agent, and even in beverages. The ability to process and utilize cocoa powder in multiple ways will lead to this market’s growth during the forecast period.
In this market research report, analysts have estimated factors like the rising demand for Fairtrade-certified cocoa products to bolster market growth until the end of 2020. Fairtrade cocoa is sourced from farms, which do not indulge in slavery or child labor. Vendors dealing in fairtrade cocoa levy a small premium on products and use these funds to improve the living standards of cocoa producing farmers. Growing awareness of fair trade practices and the rising demand for ethically cultivated and sourced cocoa products will have a positive impact on market growth during the forecast period.
Product-based segmentation and analysis of the cocoa market
- Cocoa butter
- Cocoa powder
- Cocoa liquor
The cocoa liquor segment was the largest in 2015 and is expected to grow at a CAGR of close to 3% during the next four years. Much of this segment’s growth can be attributed to its extensive use in a wide range of applications including confectionery, bakery, ice creams, and desserts. In addition, the rising demand for origin cocoa liquor will also lead to the growth of this market segment during the forecast
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.