The global smart food scale market is estimated to garner a notable amount of revenue by growing at a robust CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed largely to the growing desire of people to lead a healthier lifestyle. In 2019, the total number of consumers following clean eating witnessed an increase of 10 percent in the United States alone, whereas the consumer base of ketogenic diets increased by 6 percent that same year.
More and more people worldwide are taking up serious steps to improve their eating habits, one of which includes measuring amount of nutrients in the food prepared. This is expected to create a potential demand for the usage of smart food scales in the near future. Along with these, increasing consumer emphasis on body physique, well-being and better physical appearance is projected to offer rewarding business opportunities for the market on a global level. Rising adoption of technological advancements to synchronize smart food scales with intelligent apps is also assessed to open new avenues for market expansion.
The market is segmented by weight into below 50 lb, 50 – 100 lb, 100 – 200 lb, and above 200 lb, out of which, the below 50 lb segment is anticipated to hold the largest share in the global smart food scale market. Most of the digital nutrition scales available around the world are manufactured to measure weights of less than or up to 50 lb as those are usually sufficient in weighing ingredients accurately for food items.
Furthermore, on the basis of material, the stainless-steel segment is evaluated to occupy a significant market share owing to the high durability, superior tensile strength and corrosion resistance of steel. Apart from these, attractive appearance and low maintenance required by steel kitchen scales is also predicted to boost the growth of the market segment in the imminent time. In addition, based on type, the segment for electronic food scale is expected to account for the largest share over the forecast period ascribing to the surging integration of Bluetooth technologies in app-based smart food scales, which are gaining massive popularity since the recent years. CLICK TO DOWNLOAD SAMPLE REPORT
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global smart food scale market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is projected to grab the largest share during the forecast period, which can be credited to the high manufacturing base, and spiralling health concerns amongst the population, especially the elderly. Apart from these, significant adoption rate of smart technology is also anticipated to augment the sales of smart food scales in the region in the future. Moreover, the market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period owing to the growing consumer spending, and increasing number of gyms and yoga centers in China, India, Japan, South Korea and other Southeast Asian countries. In addition, rising trend of wellness and healthy eating among the people is also expected to drive the region’s market growth in the coming years. As per the data published by the World Bank, the consumption expenditure in Malaysia has grown up to 73.881 percent of GDP in 2020, up from 71.516 percent and 69.383 percent of GDP shares in the years 2019 and 2018 respectively.
The global smart food scale market is further classified on the basis of region as follows:
Our in-depth analysis of the global smart food scale market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are growing desire of people to lead a healthier lifestyle and rising adoption of technological advancements to synchronize smart food scales with apps.
The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022 – 2030.
Less awareness about the usage of smart food scales in lower economic regions is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the growing consumer spending, and increasing number of gyms and yoga centers in China, India, Japan, South Korea and other Southeast Asian countries.
The major players in the market are Smart Diet Scale, Inc., Ozeri, OXO International, Ltd., Etekcity Corporation, ReFleX Wireless Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, material, weight, distribution channel, and by region.
The stainless-steel segment is anticipated to hold largest market size and is estimated to grow at a noteworthy CAGR over the forecast period and display significant growth opportunities.
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