What Has Been the Growth of the Synthetic Food Market So Far?
The synthetic food market has seen considerable growth due to a variety of factors.
•The size of the synthetic food market has seen significant growth in the past few years. The market, which was valued at $17.57 billion in 2024, is projected to hit $18.71 billion by 2025, showcasing a compound annual growth rate (CAGR) of 6.4%.
The major contributing factors to this growth in the historic period include population expansion, increased urbanization, shifts in dietary practices, enhanced health awareness, and the globalization of food supply chains.
What Are the Future Growth Projections for the Synthetic Food Market?
The synthetic food market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated robust expansion is on the horizon for the synthetic food market over the next several years, with the market projected to soar to $23.54 billion by 2029, reflecting a compound annual growth rate (CAGR) of 5.9%.
This prospective growth throughout the forecast period is mainly attributable to factors such as a burgeoning population, heightened demand for sustainable food solutions, escalating consciousness about personalized nutrition, proliferation of alternative protein sources, as well as governmental efforts endorsing synthetic food. Noteworthy trends expected during this forecast duration encompass the emergence of plant-based and lab-orchestrated alternatives, the accentuation of personalized nutrition patterns, emphasis on sustainability in food manufacturing, surging application of precision fermentation, and an uptick in the acceptance of 3D-printed food.
Which Factors Are Boosting Growth In The Synthetic Food Market?
The uptick in demand for alternate sources of protein is anticipated to fuel the expansion of the synthetic food market. Alternate protein sources are derived from plants, animals, or cells produced through fermentation. The heightened need for protein has led to accelerated innovations by the food sector, making waves in areas like alternate proteins, including lab-grown meat, plant-based meat, single-cell proteins from yeast or algae, and edible insects. Thus, alternate protein sources, along with synthetic food, form an integral part of the broader movement towards crafting sustainable and nutritious diets. For instance, in August 2022, as per the National Research Council Canada, a research institution run by the Canadian government, the demand for alternate proteins, including plant-based proteins, in Canada was projected to rise by 14% per year by 2024, and by 2054, the total protein demand is expected to double to 943.5 million metric tons. Hence, the rising demand for alternate protein sources is fueling the growth of the synthetic food market.
What Key Areas Define The Segmentation Of The Global Synthetic Food Market?
The synthetic food market covered in this report is segmented –
1) By Product: Synthetic Color, Enzymes, Hydrocolloids, Antioxidants, Flavor And Fragrances, Fats And Oils
2) By Distribution: Super markets, Conventional Stores, Online
3) By Application: Beverages, Dairy And Frozen Products, Bakery And Confectionery, Meat, Poultry And Seafood, Processed Food, Convenience Food And Beverages, Sauces And Dressings
Subsegments:
1) By Synthetic Color: Artificial Colorants, Natural Colorants
2) By Enzymes: Amylases, Proteases, Lipases, Cellulases, Other Enzymes
3) By Hydrocolloids: Gums, Gelatin, Pectins, Carrageenan
4) By Antioxidants: Synthetic Antioxidants, Other Antioxidants
5) By Flavor And Fragrances: Synthetic Flavors, Synthetic Fragrances
6) By Fats And Oils: Synthetic Fats, Margarine And Shortening
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How Are Emerging Trends Reshaping The Dynamics Of The Synthetic Food Market?
Major players in the synthetic food market are endeavoring to invest heavily in the sector to transform and escalate production methods, augment the food products' nutritional aspect, cater to the increasing necessity for sustainable and alternative protein resources, minimize environmental footprint, and address food security issues. Significant investments are being made in seed funding by notable investors from the biotech and foodtech industries with an intention to bring paradigm shifts in the alternative meat division with their creative solutions. For example, Cultimate Foods, a firm headquartered in Berlin and involved in the manufacturing of food products, collected a sum of USD 2.48 million (€2.3 million) in seed funding in April 2024. The aim is to amplify its production capacities and broaden its working boundaries within the substitute meat sector. The startup stresses the fact that the use of its technology not only enhances taste but also assists in reducing dependence on heavy-duty animal farming and mitigating the impact of climate change by decreasing CO2 emissions.
Who Are the Key Players in the Synthetic Food Market?
Major companies operating in the synthetic food market include:
• BASF SE
• Archer Daniels Midland Company
• Royal DSM N.V
• Symrise AG
• Döhler Group SE.
• Chr. Hansen A/S
• Beyond Meat
• Naturex S.A.
• Believer Meats
• Impossible Foods
• Flavorchem Corporation
• UPSIDE Foods Inc.
• Mosa Meat
• Aarkay Food Products Ltd.
• Meatable
• Aleph Farms Ltd.
• Motif FoodWorks Inc.
• GOOD Meat
• SuperMeat
• IntegriCulture Inc.
• Fiorio Colori S.R.L
• Multus Biotechnology Ltd.
• BioBetter Ltd.
• Frutarom Industries Ltd.
What Is The Most Dominant Region In The Synthetic Food Market?
North America was the largest region in the synthetic food market in 2024. The regions covered in the synthetic food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
