Nutraceuticals Market Size Worth $578.23 Billion By 2025 | CAGR: 8.8%
Growing awareness regarding the consumption of healthy foods has resulted in increased demand for nutraceuticals in the U.S. The European market is driven by a steady innovation of high-performance natural ingredients used in nutraceuticals. Increasing adoption of e-commerce and growing consumer awareness through social media are further likely to augment the demand for nutraceuticals over the forecast period.
Future Business Opportunities in Nutraceutical Ingredients Market
The nutraceutical ingredients market is projected to grow from USD 152.0 billion in 2019 to USD 228.0 billion by 2025, recording a CAGR of 7% during the forecast period.
This is attributed to the growing demand for fortified food due to the increasing health consciousness among consumers, rising incidences of chronic diseases, and mandates on food fortification by government organizations.
How is the Food Robotics market rapidly moving towards sophisticated and sustainable technologies?
Asia-Pacific marks the presence of more than half of the food robotics companies in the world. The region is expected to witness increase in demand for food robotics as the new food safety and hygiene legislations are expected to come into force in this region. Asia-Pacific accounted for almost three-fifths share in the global food robotics market. This is attributed to increase in adoption of robots in food industry in countries such as China, Korea, and India. China accounted for approximately 20% share in the global market in 2016. The market is anticipated to augment due to rise in demand for automation in food & beverage sector in this region. Moreover, the surge in demand for ready-to-eat food products is also anticipated to augment the demand for food robotics.
The key players profiled in the report are:
-Mitsubishi Electric Corporation
-Rockwell Automation Incorporated
-Kawasaki Heavy Industries Ltd.
-Yaskawa Electric Corporation
-Seiko Epson Corporation
-Staubli International AG
-Universal Robotics A/S
KEY BENEFITS FOR STAKEHOLDERS-
- This report provides an extensive analysis of the current trends and emerging estimations in the global food robotics market.
- In-depth analysis of the industry is conducted through market estimations of key segments from 2017 to 2023.
- Competitive intelligence of leading manufacturers and distributors of food robotics helps understand the competitive scenario across geographies.
- Comprehensive analysis of factors that drive and restrain the growth of the market is provided in the report.
- Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The key players are profiled along with their strategies to determine the competitive outlook of the market.
Attractive Opportunities in the Food Safety Testing Market
The market for food safety testing is projected to grow from USD 17.0 billion in 2018 to USD 24.6 billion by 2023, at a CAGR of 7.7% during the forecast period. This is attributed to the growth in demand for convenience and packaged food products, an increase in outbreaks of chemical contamination in food processing industries, and the rise in consumer awareness about food safety.
However, the increase in global outbreaks of foodborne illnesses and globalization in food trade drive the demand for food safety testing services.
The European market accounted for the largest share in the food safety testing market. European countries have recorded many issues related to food safety over the past few years. As a result, stringent policies have been regulated to implement complete food safety for the public. In Europe, food safety policies have been emphasized by efforts from Control Laboratories (CLs), National Reference Laboratories (NRLs), and EU Reference Laboratories (EURLs). These authorities have played an important role in maintaining food standards and protecting consumer health by ensuring the quality of the food supply chain.