Market Analysis - (2019) Volume 16, Issue 6
Rosa Lelyana
Medical Doctor / Scientist, Diponegoro University, Indonesia, E-mail: rl3lyana@gmail.com
2nd Global Summit on Food Science, Nutrition and Technology which is to be held during August 24-25, 2020 at Prague, Czech Republic will definitely help to promote good health worldwide.
Nutrition is very important for human life. It improves the complete life range and also the quality of life. Nutrition is the key to live a healthy life. Food and Nutrition is a basic necessity of all the people of all the regions. Nutrition not only depends on what we eat but also on the type of food, history of manufacture, Agricultural practices and processing the food.
As organic chemistry and genetics advance every day, Nutrition has become mainly focused on Human metabolism. Nutrition has turned out to be increasingly cantered towards medical conditions and problems which can be prevented with a healthy diet. Nutrition also involves diseases and conditions that could be caused by dietary intake of poor foods.
Market Analysis:
Market of food and Nutrition supplements market has seen a phenomenal spike in manufacture and sales. This has empowered various new Industries to dive into the business sector with goods that guarantee to be the remedy for youth, wellbeing, and essentialness. As directed by the Nutritional journals, the nutritional supplement market worldwide is estimated to be $104 billion.
Sports nutrition consumers in Italy are becoming increasingly educated about the different types of products available and their aims. While, initially, consumers’ main concerns were to build up muscle and hence they opted for sports protein, they are now becoming increasingly aware of the efficacy of products positioned for energy increase, endurance, recovery and strength. In Italy foodservice market is likely to witness a CAGR of 1.24% during the forecast period (2019 - 2024).
The Global agricultural industry market is estimated to be about $8.7 trillion according to the Plunkett Research estimate. Global Food Export alone is estimated at around $1.47 trillion in 2017 according to the world trade organization. The cost of food varies in every region which makes it a bit difficult to learn about. It varies due to various factors which include location, Food manufacturing industries, food transportation, food storage and climate.
As per the demand, Fast food industry is also growing at an alarming rate. The fast food industry includes processing, development, branding and advertising.
As shown in the figure, the fast food industry is expected to grow at a CAGR of 5.5% from 2016 to 2024. It mostly is due to the changes in eating habits of most of the people.
Globally, Fast food generates around $550 billion dollars and it is assumed that around 2 million people work in the fast food industry. Due to poor diet habits and poor diet choices, most people suffer from nutritional deficiencies and disorders.
While Canada, Singapore and other European countries spend relatively less portion of their income on food equatorial countries like India, Pakistan and Africa spend relatively more portion of their income on food.
The retail grocery industry in the US alone makes around $650 billion in revenue in 2018 according to the U.S. Department of the census.
Contact:
Casper Grey
Food Summit 2020
foodsummit@europemeet.com
WhatsApp: +44 122 563 7058
2nd Global Summit on Food Science, Nutrition and Technology
August 24-25, 2020Prague, Czech Republic
