Market Analysis - Functional Food 2020
Conference Series LLC Ltd organizing the Functional Food 2020 conference to improve international market growth, attract global food companies and universities.
The analysis shows that the global food and agriculture product has been increased from 494.9 billion USD in 2018 to 729.5 billion USD in 2019. The top 10 current global food science research countries are China, United States, Brazil, Italy, Spain, South Korea, Germany, India, United Kingdom, Australia. After many years of analysis, the absolute number of undernourished people has increased from 784 million to 821 million.
The major factors that are fueling the market are rapid growth in food science and technology, individual’s interest in wellness through diet planning, increase in healthcare costs and increase in ageing population.
Developing countries have a higher prevalence of non-communicable diseases (NCDs), like cancer, diabetes, cardiovascular ailments, and lung disorders. Therefore, the demand for nutraceuticals is expected to rise in these nations. The gradually increasing healthcare expenditure will also augment the demand for nutraceuticals across emerging nations.
Top food science companies:
- Anheuser-Busch InBev
- The Coca-Cola Company
- Archer Daniels Midland company
- Kraft Heinz
- Mondelez International
Importance and scope
By expanding the global population is raising food needs turn focus onto global food safety. Nowadays food & Nutrition allow us to maximize the best usage of food resources and minimize wastage.
The scope of food science lies in the way that it has ability to give nourishment to our population through scientific preservations, killing avoidable misfortunes and making accessible progressively balanced and nutritious sustenance. High esteem food products from low grade material can be produced by inventive fitting preparing and bundling technologies and likewise from results and build up waste utilizing incorporated methodology. The role of food technologist does not stop at farm level but rather it proceeds till the reaped harvested crops and animal products are prepared, safeguarded and further changed into valuable and nutritious items, until it utilized by the customer.
According to recent world bank study, the food borne diseases in low and middle income countries charge atleast 100 billion USD a year, with this exceeding exceeding 500 million USD for 28 countries. The global food technology market is expected to grow 250.43 billion USD in 2022.