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 bakery market
Extensive research carried out by the analysts at Technavio has shown that the global bakery market is expected to witness steady growth and will post a moderate CAGR of more than 6% over the forecast period. The increasing popularity of functional ingredients-based bakery products is one of the primary factors driving this market’s growth. Special dietary needs, such as gluten-free products have led to the augmented adoption of functional ingredients to enhance the products and make them healthier. For instance, in the recent years, several bakery products in Canada contain rice flour and chia flour instead of wheat flour. Also, numerous products have been launched over the past couple of years, most of which are kosher or organic. Moreover, the rising popularity of organic bakery products will contribute to this market’s growth in the coming years.
One of the recent trends spurring this market’s growth is the introduction of trans-fat-free products in the market. By offering trans-fat-free products, vendors are targeting health-conscious consumers. Moreover, an increasing number of nutrition-conscious people have considerably reduced their salt intake and are always on the lookout for functional ingredients in their food. For example, in India, Kamani Oil Industries offers a range of specialty oil and fats for use in bakery products. Its trans-fat-free range covers PuffLite, K-Lite, and CakeLite.
Competitive landscape and key vendors
The global bakery market is subject to rapidly changing consumer preferences and demands. It is also significantly affected consumer tastes, regional, economic conditions, and demographic trends. The market is highly fragmented
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
Global outlook of the dried processed food market
Technavio’s market research analyst predicts the global dried processed food market to grow at a CAGR of more than 6% during the forecast period. Dried processed food products like pasta and noodles are staple foods in several countries across the globe. Hectic lifestyles of consumers and the need for leisure has propelled the use of such convenient food products like dried ready meals, dried pasta and noodles, and several other dried processed food products that require minimal time for preparation. These dried foods have various nutritional properties, unique flavor and taste, and convenience which make them a principal diet among people. Owing to the growing consumer interests, food manufacturers worldwide are focusing on using natural food additives with a broad range of functions, high effectiveness, and low toxicity in these dried food products. For instance, Kraft Foods has announced that by 2016, its boxed noodles products would be colored with natural ingredients such as paprika, annatto, and turmeric.
Consumers are opting for gluten-free diets owing to several health concerns which has prompted them to adopt healthier options such as regular dried food products. Gluten causes the intestinal cells to die prematurely due to its inflammatory effect, which allows bacterial proteins and other toxic compounds to get in the blood stream, leading to autoimmune attacks on the body. This has pushed several manufacturers to add gluten-free dried
Overview of the fast casual restaurants market in the US
Technavio’s market research analyst predicts the fast casual restaurants market in the US to grow at a CAGR of more than 10% during the forecast period. Owing to the growing health-consciousness among consumers, the fast casual restaurants in the US are introducing healthy meals in their food menus. They are coming up with nutritious options and unique, high-quality, and better-for-you food ingredients to help customers in reducing their total calorie intake. Some fast casual restaurants such as Pie Five Pizza, Chipotle Mexican Grill, and Smashburger are offering fresh salads in their menu, containing fresh vegetables. Also, the demand for fast casual restaurants serving gluten-free food is increasing from the growing awareness about celiac disease. PizzaRev, Panera Bread, and Biaggi's Ristorante Italiano are some of the fast casual restaurants that offer gluten-free food in their menu. Such strategies help these restaurants to increase their customer base, besides strengthening their loyalty.
As per this market research analysis, vendors in the market are coming up with several innovations in packaging for home delivery and takeaway food. They are offering biodegradable packaging, compostable packaging, and customized packaging of food products. Corrugated packaging is the most recent development in the market among restaurant market players as well as customers as its thermal properties keep food hot. Corrugated packaging also protects from spills and releases, and has made it a preferred packaging type among fast casual pizza chains. Market players like Chipotle Mexican Grill and Panera Bread are also using sustainable packaging materials and have
Overview of the global soy milk and cream market
As per Technavio’s market research analysis, the global soy milk and cream market is predicted to grow at a CAGR of around 15% during the forecast period. Soy has various health benefits associated with it and the growing awareness about its well-being among consumers is helping the market for several soy products grow. Soy contains all nine essential amino acids in the ideal ratio for human health and wellness. Soy protein isolates have less cholesterol than animal proteins. Soy also contains phytosterols, which help prevent cholesterol absorption and helps in reducing the risk of heart failure. It also helps increase bone density and is a good source of vitamins such as B6 and B12. Soy is also the main source of minerals such as zinc and iron and contains isoflavones that reduce the risk of breast cancer in women. Moreover, soy products such as soy milk and cream act as a perfect substitute for a high-fat diet and dairy milk. The growing health consciousness among people about soy will increase the sales of soy milk and cream during the forecast period.
APAC is the largest revenue-generating region in the soy milk and cream market and is anticipated to occupy around 44% of the overall market revenue during the forecast period. Much of the region’s growth is driven by the rising number of health-conscious individuals, growing vegan population, and increasing disposable income among consumers. The market is also witnessing a huge demand for lactose-free products such as non-dairy milk and cream from developing countries such as China, India, and Indonesia. The high demand for lactose-free products along with the number of people with lactose indolence is the major cause for the significant need for soy milk and cream in APAC.
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.