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2 2 SNACKING NEWS February 2018 SNACKING NEWS Global Natural Food and Drinks Market Expected to Reach $191.973 Million by 2023 According to a new report published by Allied Market Research, titled "Natural Food & Drinks Market by Product and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2017- 2023," the global natural food & drinks market was valued at $79.137 billion in 2016, and is estimated to reach $191.973 billion by 2023, registering an annual growth rate of 13.7 percent from 2017 to 2023. Natural food & drinks refer to food products that are that are manufactured without the use of hormones, antibiotics, or artificial flavors. Stringent regulatory standards do not exist for natural food & drinks in most of the countries in the world. Thus, natural labels are normally used by manufacturers across the globe due to lack of adequate guidelines. Natural food & drinks are available at several stores that sell organic food products. In 2016, the supermarkets/hypermarkets seg- ment accounted for around two-fifths share of the global market. According to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market Research, "From freshness to health ingredients and eco-conscious busi- ness models, today's core consumer values increasingly center around offerings of the natural food and drinks mar- ket." The global natu- ral food & drinks market is driven by growing con- sumer preferences for foods with n o n - g e n e t i c a l l y modified ingredi- ents. Increasing demand for "clean label" products is due to increase in awareness and media coverage around GMOs. The "clean label" trend has also been recently pushed into the mainstream market by popular books, television shows, and celebrity endorse- ments. However, higher costs of natural food and drinks, as compared to conven- tional food products, are expected to ham- per the market growth. Among the key findings of the study are that in 2016, North America dominated the global market, constituting around two- fifths share of the global market. The U.S. was the leading consumer of natural food and drinks globally in 2016, and the Amer- ican market for these products is expected to grow at an annual growth rate of 13.4 percent. The natural food segment is esti- mated to grow at a rate of 13.9 percent from 2017 to 2023, with fruits and vegeta- bles accounting for one third of the share of the global market. Supermarkets' and "hypermarkets'" sales for natural foods and drinks are expected to grow at a rate of 13.3 percent. In 2016, North America dominated the global market. However, Asia-Pacific is expected to witness the highest growth rate from 2017 to 2023, owing to rise in con- sumer inclination towards wellness and rapid growth in the food & drinks industry in countries such as China, Japan, India and Australia. Europe was the second lead- ing region geographically, and is expected to grow at a CAGR of 13.1 percent from 2017 to 2023. The key companies profiled in the report include Archer Daniels Midland Company, Bunge Ltd., Earths Best, Amy's Kitchen, Nestle S.A., 365 Everyday Value, Organic Valley, ConAgra Foods, Dean Foods, and General Mills. n

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