Processed Food Market size will reach US$ 6472.6 million from US$ 5412 million in 2020 registering a CAGR of 4.5 % during the forecast period 2020 – 2024.
Key Players for Global Processed Food market includes Nestle, Tyson Foods, JBS Foods, Mars, PepsiCo, Kraft Heinz, Mondelez International, WH Group, General Mills, Kellogg’s, Hormel Foods, Cargill, ConAgra, Saputo and Maple Leaf Foods and COFCO.
Nov 2020- Scientists have invented an artificial olfactory system that mimics the mammalian nose to assess the freshness of meat accurately. The 'electronic nose' comprises a 'barcode' that changes color over time in reaction to the gases produced by meat as it decays, and a barcode 'reader' in the form of a smartphone app powered by artificial intelligence.
A new study has found a correlation between processed food and ageing. A diet rich in ultra-processed foods is loaded with sugar, oil, starches and fats, which can make you age more quickly. Researchers have found that eating three or more servings of processed foods daily is linked with shorter telomeres, chromosome structure that marks your biological age. In contrast to this, a diet rich in whole foods, fruits and vegetables is linked with longer telomeres and lower risk of chronic illnesses. Highly processed foods are loaded with sugar, salt, fat and starch and thus can lead to premature ageing, say the study presented at the 2020 European and International Obesity Congress.
Oct 2020-Nestlé has committed to serve its employees with more climate-friendly foods through the Cool Food Pledge, a growing movement of workplaces, cities, hotels, hospitals and restaurants aiming to cut food-related greenhouse gas emissions by 25% by 2030.
With around 300 000 employees around the world, Nestlé serves an estimated 50 million meals a year at its sites. There is already an emphasis at the company on using local produce and increasing plant-based options. Nestlé will deliver reductions in food-related greenhouse gas emissions through diversifying menus, raising employee awareness about food choices and improving internal understanding of what ingredients to use in meals and snacks. The company will also work with suppliers and customers to encourage them to adopt such practices in their own operations.
October 15, 2020 – JACK IN THE BOX and RAISED & ROOTED are announcing the exclusive debut of the Jack’s Unchicken and Jack’s Spicy Unchicken sandwiches at select locations in Monterey and Salinas, Calif., and Reno, Nev. The sandwiches are the first-ever plant-based “unchicken” sandwiches introduced by a quick-service restaurant, and have the taste, crunch and texture to satisfy even the most dedicated sandwich connoisseur. Raised & Rooted is Tyson Foods’ brand of alternative protein products launched in 2019. Made from pea protein isolate and Jack in the Box’s traditional crispy breading, the Unchicken sandwiches deliver mouthwatering taste with a savory crunch and texture sure to rival the competition.
PepsiCo announced on Sept 2020 a new five-year, $20 million partnership with the U.S. Agency for International Development (USAID) under the Women's Global Development and Prosperity (W-GDP) Initiative, supporting the global food and beverage leader's efforts to empower women in agriculture and help build a more sustainable food system. The goal of the project is to drive inclusivity across the food and beverage industry by demonstrating that actively engaging women as critical drivers of PepsiCo's sustainable sourcing strategy leads to better business results.
Based on product type, global processed food market is segmented into Plant based (Fruits, Vegetables, Legumes, Extracted foods and others). Animal based (Milk, Poultry, Fleshy and Others). Based on application it includes baked foods, Baby food, Breakfast Cereal, Biscuits, Cheese, Chocolate confectionary, Ice creams and Instant Noodles. Geographically it has segmented into ASPAC, North America, Europe and Middle East & Africa. Processed food market is fast growing in Asia pacific region due to increase in population and increase in consumer buying power. The consumer spending in India on processed food is expected to grow to US$ 3.6 trillion by 2020. Also, it will increase the demand for nutritious processed food in these regions. North America is the largest market for processed food due to increased snacking trend in this region. Furthermore, busy lifestyle, packaging innovation and expanded lifestyle plays a major role in increasing demand of processed food.
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