By Kate Kehoe, Marketing Executive, FMCG Gurus With rising prices having become a major concern for consumers, the bakery industry…
The global clean-label ingredients market is projected to reach USD 80.69 billion by 2030, at a CAGR of 6.9% from 2023 to 2030, according to a study published by Meticulous Research. Growing consumer preferences for organic and natural ingredients, increasing focus on health and wellness, growing health concerns associated with artificial ingredients, growing consumer demand for clean label meat alternatives, and rise of E-commerce and online grocery shopping are some of the factors driving the growth of the clean label ingredients market.
Consumer consciousness regarding food waste grew to 72% in the past two years. It is one of the population’s main concerns, together with rising food prices, supply chain challenges and the pandemic, with an impact on their behavior.
Despite best intentions regarding sustainability and the environment, the purchasing decision about F&B brands to purchase is ultimately led by price, with fast-rising inflation and the worst cost of living crisis in a century, research finds.
Technavio anticipates a CAGR of 2.99% for the industrial bakery oven market worldwide by 2025, a growth of USD 267.98 m, a study shows. The research outlined a fragmented market, a trend expected to continue over the next three years.