About Smart Food
Smart food is healthy and nutritious food that is produced in environmentally sustainable ways. It consists of scientifically formulated food products which are able to fulfil the requirements of nutritional intake. It includes nutritious powders, ready-to-drink products and others with a sufficient amount of macro and micro nutrients. For example, soylent drinks. These drinks are also known as meal replacements, and offer enough carbs, proteins, fibers, and other micronutrients to replace meals. Higher prevalence of chronic diseases creating awareness regarding healthy consumption hence consumers are more prone towards smart food over others. Regionally, Asia pacific regions is witnessing huge demand for smart food with higher population and ongoing infrastructural developments in FMCG market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 12.4% |
The demand for Smart Foods is increasing with each passing day. The businesses in this industry facing major competition at global scale with leading players of the market. Many international as well as regional service providers are also participants in the industry and directly compete with leaders. It has been identified that market leading players are investing heavily in growth strategies such ad technological development, resource utilization to enhance their market position. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Smart Food market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cargill Inc. (United States), Kerry Group ( Ireland), Nestlé S.A. (Switzerland), Arla Foods (Denmark), Archer Daniels Midland Company (United States), Aveka (United States), Balchem Corporation (United States), Tyson Foods.(United States), Mars (United States), Danone S.A. (France), GSK (United Kingdom), Firmenich (Switzerland), BASF (Germany), Kellogg's Company (United States), Barilla (Italy), The Coca Cola Company (United States), Soylent (United States) and ConAgra (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Royal FrieslandCampina N.V. (Netherland), Tate & Lyle (United States), Nisshin Seifun Group (Japan) and Fraîche Corp(United States).
Segmentation Overview
AMA Research has segmented the market of Global Smart Food market by Type (Functional Food, Encapsulated Food, Genetically Modified Food and Others) and Region.
On the basis of geography, the market of Smart Food has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel , the sub-segment i.e. Supermarket will boost the Smart Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Power will boost the Smart Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Augmenting Focus on Reducing Malnutrition and Higher Adoptions of Digitisations for Cost Effectiveness
Market Growth Drivers:
Growing Awareness regarding Healthy Food Consumption, Increasing Food & Beverage Industrial Infrastructure across the Globe and Changing Dietary Patterns & Life Style
Challenges:
Higher Technical Standards Requirements for the Production
Restraints:
Complex Regulatory Compliance
Opportunities:
Huge Government Investments in Developing Smart Tech Operations in Food Production and Growing R&D in Food Preservatives
Market Leaders and their expansionary development strategies
In September 2023, Zomato, the online food ordering and delivery platform, has entered into a collaboration with Battery Smart to provide battery-swapping access for its delivery partners through Battery Smart's expansive network. This alliance is organised towards boosting environment-friendly last-mile deliveries and promoting delivery partners to assemble the transition to EVs.
In October 2023, FUTURELIFE launched of an exciting new addition to its product line-up, FUTURELIFE® Smart Food™ Peanut Butter Flavour. The introduction of the Peanut Butter flavour variant in the 500g Smart Food™ range comes in a limited-edition promotional pack, adding an extra layer
Key Target Audience
Market Research & Consultancy Firm, Potential Investors, Government & Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.