The global malt ingredients market report (henceforth, referred to as the market studied) offers key insights into the latest developments. It analyzes the recent trends, drivers, and challenges affecting the market. Opportuni ties pertaining to the market have also been taken into consideration. The market has been segmented by source, application, and geography. By source, the market can be segmented into barley, wheat, and other sources. By application, the market can be segmented into alcoholic beverages, non- alcoholic beverages, food, pharmaceutical, and animal feed. By geography, the market covers major countries in the region North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report also gives insights on the barley and wheat production and its impact on the demand and prices of malt ingredients.

股市充满不确定性，如何从不确定中受益是我们每一位投资者需 要思考的问题，食品饮料行业大公司多、商业模式好、格局稳定，增长 确定性和可持续性强。在增长愈发不确定的市场有望持续受益。2019 年对食品饮料板块投资者而言又是丰收的一年，也是我们反思最多的一 年。我们首次提出了使用 2 套思维模型来解释股票的超预期，创造性的 提出并解释消费升级、降级与消费跳级并存的现象，明确指出系统的反 脆弱性具有较强的价值。站在当下，如何看待估值水平趋于合理的行业 龙头？如何挖掘成长股的机会？如何寻求具备改善预期的标的？本篇 策略报告带您理解我们的思维方式并掘金 2020 年食品饮料投资机会。

The global olives market has grown rapidly in recent years, majorly driven by a shift in the consumption pattern toward inclusion of olive oil in regular diet and influences for the usage of table olives from Mediterranean cuisine in the non-European countries. On contrary, the consumption has remained stable in the European Union, with the per capita consumption in Spain, Italy, Greece, and Portugal projected to grow steadily to 9.5 kgs by 2030, as reported by the European Commission.  In terms of production, erratic rainfall and cold waves, followed by olive fly infests have escalated the problems for olive growers in the major producing regions, while an alternate bearing cycle has been simultaneously witnessed in Italy. However, an increase in the global demand for olives is set to drive the overall olive production with the emerging producers, such as China and India, participating in the run with support from the respective governments and associations.

The global macadamia market is growing at a faster pace with the growing importance of healthy eating and consumers are more frequently choosing nuts as a healthy snack option and incorporating them into their daily diets. In addition, organic macadamia is also gaining popularity with increasing demand coming majorly from the European countries. The wide application of processed macadamia in different industrial segments, such as the food and beverage industry, and cosmetics and personal care industry, is also augmenting the growth of these nuts in the global market. Australia, Hawaii in the United States, and South Africa are the largest macadamia production regions in the world. Few other growing regions include Latin America and Asia-Pacific.

The natural flavor segment of the market studied was valued USD 5,274.6 million in 2018 and is projected to reach USD 7,490.6 million by 2024, registering a CAGR of 6.08% during the forecast period, 2019-2024.  The increasing concerns regarding side effects of the artificial flavor and stringent governmental laws against excessive natural flavor due to numerous health benefits and eco- friendly properties of natural ingredients flavor are projected to boost the natural flavor market over the forecast period. Natural fruit and vegetable extracts will remain the largest natural flavoring agents in the forecast period. Furthermore, increasing demand for foods with exotic or ethnic flavors is driving the demand for natural flavor blends. Growing consumer demand for food products with “clean” labels, as well as products that are free from additives, such as artificial flavors is also boosting the demand for natural flavor across the world.

The push for healthy living is the primary factor poised to drive the demand for health ingredients, like blueberries. Consumers today, prefer nutritional food to enhance overall health and wellbeing. Blueberries are also known for preventing cancer, as they contain vitamin C and vitamin A. Moreover, the various phytonutrients in blueberries function as powerful antioxidants that may help protect cells against damage from disease-linked free radicals. Thus, food and beverage manufacturers are increasingly incorporating healthy ingredients, like blueberry, in the form of powder, pieces in on-the-go snacks. However, increasing demand for snacks made using real fruits and vegetables is on the rise. Thus products, like blueberry fruit-based snacks, are gaining popularity among consumers across the world.

Consumers are increasingly demanding ready-to-eat and ready-to-cook meat products with better taste and quality. The increase in consumer awareness and acceptance, regarding the convenience of meat products, is an important factor driving the growth of the market studied. The US production of pork hit considerable margins in recent years. Additionally, in the United States, the US Department of Agriculture estimates the pork production to increase by 1.4% in 2019, as compared to that in 2018. This, in turn, is expected to allow manufacturers to produce more products, like bacon, due to the abundance of raw materials, such as pork. The pork industry witnessed increased demand for pork belly, especially from foodservice outlets.

Coding and marking have remained an integral part of the product/commodity supply chain for years now. The overall technology itself has a crucial role to play in our daily lives, be it from the perspective of businesses, industries, or even mere consumers. The coding and marking process in simple terms involves the imprinting of information and data on products and its packaging to enable an efficient track & trace process throughout the supply/distribution chain. This packaging could either be a primary or secondary form of packaging, depending on the product material to be coded. Similarly, the information or the data to be printed can vary as per product category. For instance, the coding and marking of a food item such as fruit cakes can have information such as best before dates and bar codes for tracking it, while in case of chemical fertilizer, the information related to the chemical may be highlighted more expansively.