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Deciphering Recent Research in Nutrition and Food Sciences
Todd Runestad
Global nutrition supplement sales have risen considerably in the last two decades. As a result, new businesses have been able to join the market with items that claim to solve problems related to youth, wellbeing, and need. The worldwide market for nutrition and food supplements has remained constant at USD 116 billion since 2016, according to a report released by Nutrition business Journal. After two years, it had reached a total value of roughly USD 128 billion.
Current breakthroughs and research in nutrition and food sciences are expected to develop and offer a slew of new and intriguing ideas and opportunities in the burgeoning food science industry. Despite a wide range of research and development contributions, the market value of Nutrition and Food Science is predicted to rise. People began to transition to natural goods from natural sources as a consequence of increased public awareness combined with the increased use of medications and Nutraceuticals supplements, resulting in a market value boom.
As a consequence of modern and current lives, everyone’s need for nutritional supplements is expanding. A considerable improvement in the ageing population, as well as an increase in individual understanding of their own health and well-being, is credited with the quick rise of nutrition items. Finally, the increasing usage of the internet in both developed and developing nations increased the self-medication trends, and there is a worldwide move toward healthier food and beverages. Nutrition’s market value is expected to grow at a 7.5% CAGR between 2018 and 2023. The market capitalization is now about USD 9.7 billion and is predicted to rise to USD 26 billion in the near future.
From 2018 to 2023, the market for food traceability technology could increase at a compound annual growth rate of 8.1 percent, reaching $ 17 billion by 2012 from $10.8 billion in 2017.
The dairy industry is expected to grow and expand at a moderate rate, with a CAGR of 4.1 percent from 2012 to 2019, reaching $92.4 billion in 2023.