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Smart Food Scale Market

Segmentation by Type (Mechanical, and Electronic Food Scale); by Material (Stainless Steel, Glass, and Others); by Weight (Below 50 lb, 50 – 100 lb, 100 – 200 lb, and Above 200 lb); and by Distribution Channel (Online and Offline ) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3558 | Published On: Feb 07, 2023
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Global Smart Food Scale Market Regional Synopsis

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.

Final Consumtion

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The global smart food scale market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Smart Food Scale Market
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Major Macro-Economic Indicators Impacting the Market Growth
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Research Expenditure

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.


Market Segmentation

Our in-depth analysis of the global smart food scale market includes the following segments:

By Type

  • Mechanical Food Scale
  • Electronic Food Scale

By Material

  • Stainless Steel
  • Glass
  • Others

By Weight

  • Below 50 lb
  • 50 – 100 lb
  • 100 – 200 lb
  • Above 200 lb

By Distribution Channel

  • Online
    • E-commerce Websites
    • Company-Owned Websites
  • Offline
    • Specialty Stores
    • Hypermarkets/Supermarkets
    • Others

Growth Drivers

  • Growing Desire of People to Lead a Healthier Lifestyle
  • Rising Adoption of Technological Advancements to Synchronize Smart Food Scales with Apps

Challenges

  • Less Awareness about the Usage of Smart Food Scales in Lower Economic Regions


Research Expenditure
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Top Featured Companies Dominating the Market

    • Smart Diet Scale, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Ozeri
    • OXO International, Ltd.
    • Etekcity Corporation
    • ReFleX Wireless Inc.
    • Canny Industrial Ltd.
    • Lifetime Brands, Inc.
    • Tanita Corporation
    • E. G. Kantawalla Private Limited
    • METTLER TOLEDO

In The News

  • February 2021- Amazon introduced a new program called Build It, which gives consumer a glimpse about the products the company is developing. One of the concepts that the organization announced to work on, via this platform, is a Smart Nutrition Scale that will offer hands-free, and instant access to nutritional information for a wide range of ingredients. It can also be paired with an Echo Show to view dietary data at a glance.


Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the smart food scale market?

Ans: 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.

2) What would be the CAGR of smart food scale market over the forecast period?

Ans: The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the smart food scale market growth?

Ans: Less awareness about the usage of smart food scales in lower economic regions is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of smart food scale market in future?

Ans: 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.

5) Who are the major players dominating the smart food scale market?

Ans: The major players in the market are Smart Diet Scale, Inc., Ozeri, OXO International, Ltd., Etekcity Corporation, ReFleX Wireless Inc., and others.

6) How are the company profiles selected?

Ans: 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.

7) What are the segments in the smart food scale market?

Ans: The market is segmented by type, material, weight, distribution channel, and by region.

8) Which segment captures the largest market size in the material segment in the smart food scale market?

Ans: 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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