Covina, Sept. 06, 2024 (GLOBE NEWSWIRE) -- It is projected that the global food and beverage sector would grow rapidly between 2024 and 2034 due to changing customer preferences and rising demand for convenient and health-conscious products. As customers grow more environmentally conscious and health conscious, market research shows a shift towards plant-based and functional meals. Furthermore, it is anticipated that technological developments in food distribution and processing would boost productivity and spur new product development. The industry's ability to adjust and adjust to shifting market conditions is shown in this growth trajectory.
The following are some of the major markets that have an impact on the industry completely:
Animal Free Dairy Products Market size was USD 26.77 billion in 2024 and is projected to grow at a CAGR of 11.0% from 2024 to 2034. Increased awareness about the environmental impact of traditional dairy farming and concerns about animal welfare are driving consumers towards plant-based and lab-grown dairy alternatives.
Seaweed Protein Market size was USD 733.1 million in 2024 and is anticipated to grow at a compound annual growth rate (CAGR) of 12.3% from 2024 to 2034. The growing consumer desire for plant-based and sustainable protein sources is the main driver of the seaweed protein industry.
Plant-based Milk Market size was USD 20.23 billion in 2024 globally and is anticipated to grow at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2034. Growing awareness about the health benefits of plant-based diets, coupled with concerns over the environmental impact of dairy farming, has driven demand for plant-based milk alternatives.
A2 Dairy Products Market size was USD 2.1 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 24.8% from 2024 to 2034. The target market is primarily being driven by consumers' increasing desire for A2 milk because of its alleged health benefits. Compared to traditional A1 milk, A2 milk—which exclusively contains A2 beta-casein protein—is said to be easier to digest and less likely to cause pain.
Feed Prebiotics Market size was USD 2.87 million in 2024 globally and is anticipated to rise at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2034. The aviation industry's growing focus on cutting carbon emissions and improving environmental sustainability is the primary driver of the commercial electric aircraft market.
North America Frozen Bakery Products Market size was USD 7.28 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2034. Globally, governments are enforcing more stringent environmental laws and providing incentives to promote the use of SAF.
U.S. Baby Food Market size was USD 23.59 billion in 2024 globally and is expected to grow at a compound annual growth rate (CAGR) 6.8% from 2024 to 2034. The growing trend towards outsourcing operational aspects, combined with the need for fleet flexibility, is driving the expansion of the target market.
Personalized Nutrition Market size was USD 19.6 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2024 to 2034. As military and aerospace operations become more complex and technology-driven, there is a growing need for real-time data monitoring and communication.
Spices and Seasonings Market size was USD 37.4 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2034. As global cuisines gain popularity and people increasingly seek unique flavours and health benefits from their food, the demand for spices and seasonings has surged.
Ethnic Food Market size was USD 42.9 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2034. This trend is fuelled by a growing respect for cultural diversity in dining as well as a demand for unusual flavours, ingredients and cooking methods. The target market expansion is further supported by the growing variety of ethnic foods offered in restaurants and grocery shops.
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