Ajinomoto to expand in North America through acquisition with More Than Gourmet
Published Date | 2019 September 4
Japanese food and ingredients company Ajinomoto is acquiring 50.1% of More Than Gourmet Holdings which will influence the global organic food market
Global: Ajinomoto, which specializes in the food and amino acids business, the U.S. B2B market for prepared takeout foods, foodservice and restaurants is worth $18.3 billion, or about 40% of the global market. The company estimated the growth rate between 2011 and 2025 at 3.2%. Through the expansion of its Integrated Food Solutions business, Ajinomoto offers high added value products adapted to local eating habits and food culture in the prepared take-out foods, foods ervice and restaurant markets.
Ajinomoto highlights that MTG’s liquid seasonings business, encompassing broths and sauces, is familiar with the trends and preferences of US consumers and has strong connections with processed food manufacturers and foodservice and restaurant companies.
According to BlueWeave Consulting, the global organic food market is expected to witness the momentous growth rates over the forecast period. Owing to changing food habits, mass catering, and globalization of the food supply. Furthermore, increasing demand for fresh and appropriate forms of food products among consumers is helping the market grow significantly. Technological advancements in supply chain and logistics have given pace to the market to expand globally. E-platforms gaining popularity among consumers due to its home delivery service and it also allows online orders. It also permits consumers to compare the prices and help them to choose the best as per the ratings are given by overall consumers. Online platforms offer consumers various other benefits such as gift vouchers, cash back's, free delivery, etc. Implementation of various regulations on food safety, particularly by governments of a developed country, hinders the growth of the global food market.
According to BlueWeave Consulting report titled “ U.S. Organic Food Market By Type(Dairy, Bakery Products, Fruits & Vegetables, Snacks, Meats/Fish &Poultry, Sauce & Condiment, Processed Food, Packaged Food And Other), By Distribution Channel (Online Channel, Offline Channel, Supermarkets And Departmental Stores); Size And Forecast By 2018- 2026”
U.S. organic food market is expected to grow at a CAGR of over 15% during 2018-2026 in terms of value. This growth is driven by several factors, including growing consumer awareness for health and well-being, coupled with stringent government regulation to maintain safety and quality standards in food. In the U.S., the Meat, Fish and Poultry segment is the largest Organic food type due to the consumer demand for Pasture-raised egg, which is more healthy and nutritious. Moreover, major producers of Meat and Poultry producers are offering their customers natural, grass-fed and hormone-free meats and poultry products.
Global Organic Food Market By Type (Dairy, Bakery Products, Fruits & Vegetables,Snacks, Meats/Fish & Poultry, Sauce & Condiment, Processed Food,Packaged Food And Other), By Distribution Channel (Online Channel, Offline Channel, Supermarkets And Departmental Stores) Size And Forecast By 2018- 2026.
Global Organic Food Market is expected to grow at a CAGR of over 15% during 2018-2026 in terms of value. This growth is driven by several factors such as the rise in consumer awareness towards health and food, increasing disposable income, major lifestyle changes among the younger crowd and emerging concerns for environmentalists, etc. Rising disposable incomes and increasing awareness of health and wellness aspects, consumers are opting for healthier alternatives, especially for children and in the post, the mid-age group would propel the product growth.