Market Analysis - Journal of Food Nutrition and Health (2021) Volume 4, Issue 2

AGRI FOOD AQUA 2020

T. B. S. Rajput

Indian Agricultural Research Institute, India. Email id: Tbsraaj12@yahoo.com

Agriculture is the method of producing food, feed, fiber and many other desired products by the cultivation of certain plants and the raising of domesticated animals. Agriculture is that the science and art of cultivating plants and placental. Food technology could be a branch of food science that deals with the assembly processes that build foods. Food culture refers to the practices, attitudes, and beliefs as well as the networks and institutions surrounding the production, distribution, and consumption of food. Aquaculture, also known as aqua farming, is the farming of fish, crustaceans, molluscs, aquatic plants, algae, and other organisms. Aquaculture involves cultivating cultivating freshwater and saltwater populations controlled conditions, and can be contrasted with commercial fishing, which is the harvesting of wild fish.

Agriculture, food, and aquaculture are a significant source of national income for developing countries. The global food technology market expands drastically by 2022 the expected growth of food technology market is over $250.43 billion. The global market of probiotic ingredients and supplements has reached $23.1 billion in 2012, $27.1 billion in 2013 and it may reach $36.7 billion in 2018. The processed food industries are also valued at over $2 trillion dollars globally and consist of over 400,000 businesses. Aquaculture market was valued at USD 156.27 billion in 2015 and is anticipated to achieve USD 209.42 billion in 2021.This growth is attributed to a number of factors such as suitable weather conditions, availability of natural resources and labor at a cheap salary. Furthermore, North America and Europe are expected to have significant growth in the near future owing to advancing trends in aquaculture. The U.S. market for Food biological science and market ruined nearly $56.4 billionin 2014.This market is projected to approach $61.4 billion in 2015 and $69.4 billion by 2020, registering a compound annual growth rate (CAGR) of 2.5% through 2021. Worldwide aquaculture and Fisheries market values at $160.98 billion in 2017 and is expected to grow $224.2 billion by 2022 growing at a CAGR of 5.15 percent during the forecast period. An annual growth rate for the worldwide aquaculture industry of 4.46 percent for the 5year period between 2018 and 2022. In 2018, the report predicts a CAGR of 3.72; a CAGR of 4.12 percent in 2019; 4.50 percent in 2020; 4.83 percent in 2021; and 5.15 percent in 2022.

The global market valued at $ 207.5 billion in 2014. It is projected to reach $ 250.5 billion by 2020, at a CAGR of 3.2% from 2015 to 2020. Asia-Pacific dominated the global market with a share of around 36.7%.The global nutrition supplements market size was valued at USD 133.1 billion in 2016 and is expected to accelerate at a CAGR of 9.6% from 2016 to 2024. This impact is due to the rising awareness towards weight management among working professionals because of extensive brand campaigns by nutritional product manufacturers. Agriculture can facilitate economic conditions, hike earnings and improve food security for 80% of the world's poor, who work mainly in farming. With modern agricultural techniques, the market is increasing using improved seeds, chemicals, and fertilizers.

The modern world has substituted home-cooked food with processed food, resulting in the growth of the processed food industry. The global food processing equipment market is driven by the increasing consumer demand for processed food, focus on food safety and safety of workers, growing need to increase productivity, increasing the focus of food manufacturers to cut down manufacturing cost, and government support to push food processing sector. Total food consumption is forecast to increase by a CAGR of 3 percent during the five years to 2016, due to the growing U.S. population. Food consumption in the U.S. is expected to reach $968 billion by 2016. Canned food value sales are forecast to grow by a CAGR of 3.6 percent to 2016, driven by increasing consumer demands for convenience. There is high demand for frozen food products, particularly from supermarkets and restaurant chains. The frozen food market is forecast to grow at an average annual rate of 1.5 percent, reaching $96.4 billion in 2016. The organic food market is forecast to grow by a 9.7 percent CAGR between 2011 and 2016. The market is forecast to reach $46.5 billion by 2016, which is an increase of > 50 percent since 2010. The growth of the dairy market is forecast to slow, with a CAGR of 3.6 percent between 2011 and 2016, reaching $89.3 billion in 2013. The dynamic yogurt sector in the United States is expected to continue to grow, due to the on-going trend towards healthier options. The grocery retail market is expected to grow by a CAGR of 3.5 percent to 2016.The foodservice sales are expected to grow by a 3.2 percent CAGR to 2015, reaching $562.5 billion. The highest growth is forecast in foodservice establishments in travel locations (i.e. motorway service / rail stations).

Agriculture tries to search out an honest balance between the necessity for food production and therefore the preservation of the ecological system inside the surroundings. In addition to manufacturing food, there are several overall goals associated with sustainable agriculture, including conserving water, reducing the use of fertilizers and pesticides, and promoting biodiversity in crops grown and the ecosystem. Sustainable agriculture conjointly focuses on maintaining economic stability of farms and serving to farmers improve their techniques and quality of life. Aquacultures conjointly defend variety by reducing the fishing activities on wild stock in their ecosystems. The Aquaculture Congress 2019 aims at taking a step to educate consumers about the future prospects of aquaculture and fishing and risk management, provide solutions to the challenges by discussing innovative approaches, experiences, research outcomes, services, and products related to the concerned issues.

Dr. T.B.S Rajput will be taking privilege of felicitating organising committee member. With the support of organizing committee, ME Conferences is organizing the upcoming event “3rd International Conference on Agri Food and Aqua” scheduled for August 10-11, 2020 at Dubai, UAE.

Eliza Russell

Program Manager | Agri Food and Aqua 2020

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