The demand for baby food formula is significantly high in Asia, prominently owing to China’s repeal of its one-child policy and growing industrialization in South East Asian countries. In 2015, China scrapped its nearly four-decade long one-child policy due to concerns over aging population. This decision is expected to have substantial implications on food, beverages, and consumer goods. This rapid increase has created substantially high and rapidly increasing demand for infant nutrition products in the country. Apart from China, countries such as Indonesia and Vietnam have been witnessing considerably high demand due to a high and increasing young population and rapid industrialization. One important consequence of this is the large-scale induction of women into the workforce, which is resulting in the growing demand for baby food formula.
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North America will maintain its lead in the protein ingredients market with high demand from the food and beverages industry
The food and beverages industry in North America stays on a steady growth graph owing to the stability in the expenditure of the consumers in the U.S. and changes in the Food Safety Modernization Act (FSMA) can mean that America’s food safety laws will focus more on prevention of food contamination, rather than responding to claims of food adulteration. Increase in awareness on the role of food in health and well-being has made consumers in Canada and the U.S. more attentive towards the ingredients used by manufacturers.
The preference for healthy foods has made North American food and beverage companies develop new portfolios. Instead of spending resources and capital on developing these new portfolios in-house, food and beverages companies seem more interested in acquiring smaller companies that have a strong reputation in specialty foods. The trend towards acquisition of smaller companies at lower cost is likely to continue in the near future. The food and beverage industry in North America is also adapting to new modes of delivery. Amazon’s acquisition of Whole Foods is likely to set off a chain of mergers and collaborations. In the prevailing competitive scenario, the consumers are set to gain, as companies will fight it out to deliver their products within a quick timeframe.
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Protein Ingredients Market in Asia Pacific to Witness a Boost by Fortified Food Sales
Rapid growth in the demand for fortified food products will reportedly stimulate high growth of the protein ingredients market in Asia Pacific excluding Japan. APEJ is considered to be a highly lucrative region for manufacturers of functional foods and beverages. This growth is also attributed to strong presence of the world’s leading food producers, importers, and exporters. Opportunities galore as the region is also home to some of the world’s most populous countries. Satisfying the growing and evolving needs of such a large consumer base will entail new solutions. It is estimated that by 2050, the global population will touch approximately 10 billion, and a large percentage of this population will be based in APEJ. Policymakers are aware of the challenges and opportunities in APEJ’S food and beverage market, and there is a heightened pace of activity among players looking to enter or consolidate their position in the protein ingredients market as consumers in this region look forward to transforming their lifestyle, including diet and wellbeing.