Food and Beverage
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
Overview of the global foodservices disposable market
The global foodservices disposable market is anticipated to grow at a steady rate and will post a CAGR of more than 6% during the forecast period. The growing market for food delivery and takeaway services will drive the growth prospects for the global foodservices disposable market until the end of 2021. It has been observed that with the growing penetration of Internet and the use of mobile applications and online portals, many people prefer ordering food items through online platforms. This drives the demand for food delivery and takeaway services and fuels the growth of the foodservices disposables market. Also, a number of QSRs, FCRs, cafes, and pizzerias use good quality paper containers, corrugated pizza boxes, multi-layered paper cups with straws, and wraps to parcel and deliver the food item to customer’s address. Some of the major factors responsible for the growing rate of delivery and takeaway food is the high purchasing power of consumers and increasing consumer expenditure in some of the strong emerging economies like China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. Furthermore, these takeaway outlets are focusing on expanding their consumer base in APAC by spending more on promotional activities to attract more customers.
The rising demand for UV-cured inks will drive the growth prospects for the global foodservices disposable market in the forthcoming years. It has been noted that a large number of food outlets are marketing their brand by using disposable materials such as paper and plastic cups, plates and trays, and containers with customized prints and designs, including the name and logo. Furthermore, UV-cured inks are used to print the
Overview of the global RTD infant milk market
Technavio’s market research analyst predicts the global ready-to-drink (RTD) infant milk market to grow steadily at a CAGR of above 3% by 2021. One of the key factors responsible for the growth of this market is the rise in breastfeeding alternatives for specified maternal conditions, convenience, and flexibility. The RTD infant milk works as an alternative to breast milk, having all the necessary ingredients such as DHA, lutein, and vitamin E that are found in breast milk. Also, the increase in the number of working women including mothers of new-born babies, dietary instructions, medical condition, and concerns of breastfeeding in public places have also contributed to the market growth of this market. The rising urbanization and the growth of the middle-class population have significantly encouraged consumers to adopt convenience-oriented lifestyles, which, in turn, is making baby food and infant formula a desirable option among working women.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. An increasing number of parents are significantly opting for no-additives and natural ingredients infant milk formula, which in turn, is augmenting the sale of organic baby food. The growth of the RTD infant milk market in North America is mainly driven by the growth of the markets in the US and Mexico. In the US, organic baby food sales have increased due to health concerns among parents about food safety
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
The food and beverage industry encompasses the entire range and distribution of fast-moving consumer goods (FMCG) products from suppliers and manufacturers. Technavio’s food and beverage domain provides actionable global market analyses and forecasts. It examines key drivers, challenges, and emerging trends that are influencing the market.
Through Technavio reports clients can garner strategic insights into real consumer attitudes and behaviors and identify key market opportunities for future growth and investment. Our expert research and analysis includes carefully compiled data, like market size, vendor analysis, and competitor information, for different markets in the food and beverage industry. Technavio analysts continuously monitor industry segments, including alcoholic beverages, non-alcoholic beverages, food, and food services.
Leading companies extensively covered in our report offerings include Coca-Cola, Diageo, Mondelez International, Nestlé, PepsiCo, and Unilever.