Food & beverages

The fish sauce is a pungent condiment made using fermented fish and salt. The fermentation process takes place where the fishes are placed in a container with salt and are kept for several days and months to ferment. After this, the fermentation results in the light brown liquid. This fish sauce includes various nutrients and vitamins as it uses whole fish and is undiluted. Meanwhile, the chemically fermented fish sauce loses its nutritional value. Fish sauce is largely used as an ingredient in different cuisines to enhance the taste and is also consumed as a dip.

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To improve the flavor of the food, people are replacing soy sauce with fish sauce. Manufacturers are also making a fish sauce that leads to reduced sodium intake, thereby offering the healthy product. Moreover, shifting trend towards natural food products is also resulting in the growth of the customers opting for the quality product that has been made using the natural process of fermentation without adding any chemicals. Also, a fish sauce made using natural process last for a long time.

Baking Mixes includes the pre-mixed formulation of all the ingredients used to prepare various baked products. Some of the common ingredients used in the baking mixes are flour, baking soda, baking powder, salt, sugar, yeast, flavoring ingredients, and other ingredients depending on the type of baked product, for instance, leaving aside the common ingredients, additional baking mix ingredients for bread differ from the baking mix ingredients for cakes, muffins, etc. Most of the baking mixes are available in a powder form and require the addition of milk, water, cooking oil, eggs, etc.

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Dairy product manufacturers across the globe are innovating new varieties of cheese made at varied concentrations of natural ingredients and new flavors. Authentic cheese profiles are being introduced by these companies, who aim at capturing the rising demand for cheese concentrates in the global food and beverage landscape. Growing uptake for dairy derivatives in exotic culinary profiles across Europe and other parts of the world are also driving the global consumption of cheese concentrates. Serving the trend of healthy dietary lifestyles, cheese concentrates are being widely sought by consumers through low fat applications. In addition, the cost-effective production of cheese concentrates is increasing the market’s attractiveness. Prominent food product manufacturers are adopting cheese concentrates in the production of smooth flavored dairy-based products. From a nutritional standpoint, the balanced composition of ingredients in cheese concentrates is further extending their scope of application in the food industry.

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The global market for rice protein surpassed US$ 108 million in 2018, and it is expected to envisage nearly 7% y-o-y in 2019, according to a recent study published by Fact.MR. The study opines that the growth of the rice protein market is indicative of a growing consumer demographic looking for a meat-free and active lifestyle. Fact.MR attributes the recent upsurge in demand for rice protein to a palpable shift in consumer preference for non-allergenic and vegetable-derived substitutes for traditional animal-based proteins.

The study finds that the demand for rice protein is also being buoyed by the growing veganism trend. A sizeable section of consumers is developing a proclivity for plant-based and organic food products and this is triggering ingredient manufacturers to make a move to offer plant-based ingredients. Increasing health concerns with high prevalence of lifestyle diseases, such as obesity, will continue to boost adoption of rice protein in the food & beverage industry, opines Fact.MR.

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With increasing diseases associated with meat, for instance bird flu and swine flu, plant-derived proteins are gaining high traction owing to growing consumption by health conscious people worldwide. Increasing demand for vegetable proteins has directly spurred the consumption of their textured soy counterparts. Another factor pushing the sales of textured soy proteins includes growing preference for meat substitutes. Meat substitutes offer various health benefits by filing the nutritional gaps in regular diets.

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Mounting instances of appetite loss among the aging population has led them to spend more on fortified and functional food. Growing requirement for nutrition-rich food among health conscious consumers have led manufacturers to incorporate health benefiting ingredients such as vitamin premixes. Food manufacturers are utilizing various ingredients to enhance the appeal, flavor, and functionality of food products. Food premixes are witnessing a gradual surge in popularity worldwide, and according to a recent Fact.MR report, the global food premix market will register a steady 5.6% value CAGR during the period of forecast 2017 to 2026. Nearly 735,000 tons of food premix is estimated to sold globally by 2026-end.

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Mounting incidences of lifestyle diseases such as cardiovascular disorders across the globe. For instance, in United States about 610,000 individuals die due to heart disorders each year. Awareness regarding health issues and suitable precautionary measures have gained increased importance ever since. Scientists and medical experts have been researching upon various natural treatments and solutions to such chronic diseases. This pushed the research on avocado oil owing to the health benefits associated with its consumption.

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Avocado oil is used in various applications, such as in cosmetics, personal care and medicinal applications. It has gained high importance in medicinal applications owing to various advantages it provides, for instance it supports in reducing weight, enhances digestion, improves heart health, carries out detoxification, enhances skin glow, increased rate of wound healing and is a rich source of vitamin E. With this the consumption of avocado oil is expected to increase in the coming years.

Volume consumption of tilapia in the U.S., the largest tilapia importer, witnessed confined growth prospects with decline an excess of 10 KT estimated in 2017 over 2016, as per Fact.MR study. Declined consumption patterns mimic the broader trends in the production scenario as low prices pose challenges for companies to maintain high profitability.

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On the contrary, the second largest consumer - Russian Federation witnessed an increase in demand with a marginal volume consumption of 4 KT in the period of 2016-2017.  Report opines that the Russian Federation tilapia market is expected to report a steady demand for tilapia through 2022 while presenting emerging opportunities for Chinese suppliers in the future.

Domestic consumption predominates the tilapia market where the loss in exports is countervailed by persistently rising demand in the domestic markets of producing countries. As the domestic consumption holds sway, Fact.MR clearly estimates the preeminence of domestic market prices over export prices in the profiled exporting countries during the forecast period.

Fact.MR recently published a market research report, which forecasts that the Lactase Enzyme Market will envisage a healthy 4.4% volume CAGR during the period 2018-2028. The report projects the global demand for lactase enzymes for food & beverage applications to grow twice higher than that for its applications in dietary supplements through 2028. In addition, the report opines that the rise in demand for lactose-free food products, which also complies with shifting consumer preference for calorie- and sugar-reduced foods, will continue to prevail as a key growth influencer for the lactase enzyme market.

Demand for cooking oil in Asia Pacific continues to remain strong, however, transformations are underway. Rising disposable income has led to the emergence of a strong middle class, which is ramping up demand for refine and premium cooking oil. The impact of health and wellness trend is palpable in the cooking oil market in APAC, forcing players to diversify their product offerings. Cooking oil demand in APAC is likely to grow at nearly 5% y-o-y in 2018, resulting into volumes of over 86,000 tons.

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The dietary habits of consumers in APAC have witnessed significant transformation in the last decade or so. The impact of western dietary habits is palpable on the cooking oil demand in APAC, with many existing and new players launching low-fat products in the market. Although these gains have been prominently noticed by cooking oil manufacturers, average consumption of premium cooking oil products per consumer is still on the lower side.