Smart Food Market to Reach USD 940.98 Billion by 2028 | Rising Awareness Among Health-Conscious Consumers Regarding Benefits of a Healthy Lifestyle…
February 19th 2021 Posted at Healthy Lifestyle
Comments Off on Smart Food Market to Reach USD 940.98 Billion by 2028 | Rising Awareness Among Health-Conscious Consumers Regarding Benefits of a Healthy Lifestyle… |
Vancouver, British Columbia, Feb. 18, 2021 (GLOBE NEWSWIRE) -- The global smart food market is projected to reach a market size of USD 940.98 Billion at a steady CAGR of 10.0% in 2028, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to government support towards smart food initiatives and developments in the food industry to produce more food products with high nutritional value in an effort to reduce malnutrition among underprivileged sections in growing populations in developing countries. Issues such as malnutrition, climate change, and environmental degradation are factors resulting in a growing need to develop solutions related to food and natural resources, as well as nutrition.
Smart food products have been proving an ideal solution to combat some of these issues, and growing production and demand is driving growth of the smart food market, with the trend expected to continue during the forecast period. Micronutrient deficiencies among women and children in developing countries is another key factor driving need for adoption of smart food solutions. This is being backed by increasing investment by food processing companies in research and development for advancements in the food industry to develop and offer more nutrient rich food products with better shelf life. These factors are expected to continue to support market growth over the forecast period.
Lack of awareness regarding smart foods among the growing population is a key factor restraining growth of the smart food market currently, and the scenario is expected to change to some extent during the forecast period.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Smart Food Market to Reach USD 940.98 Billion by 2028 | Rising Awareness Among Health-Conscious Consumers Regarding Benefits of a Healthy Lifestyle...
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