Smart Food Scale Market Trends

Growth Driver

• Rising rate of obesity: The World Health Organization reports that 13% of persons over the age of 18 are obese and 39% are overweight. An imbalance between energy expended and energy consumed is the primary cause. As a result, it is true that a large number of people do not eat a nutritious diet. Moreover, malnutrition can take different forms that have nothing to do with energy balance. For instance, not getting enough fiber, minerals, or vitamins are examples of micronutrient deficiencies. A lot of home chefs lack the awareness about nutrition in general or about their personal diets to make informed food choices for their family and themselves. Numerous techniques exist to assist individuals in increasing their awareness of nutrients; the majority of these techniques rely on some form of nutrient tracking. In consideration to this, the demand for smart food scale is predicted to rise in the upcoming years, thereby supporting market growth.  
• Rising adoption of connected devices and IoT: It is projected that by 2030, there will be over 30 billion Internet of Things (IoT) devices globally, nearly doubling from 15 billion in 2020. Additionally, it is anticipated that the growing trend of incorporating artificial intelligence (AI) into smart home devices for smart features will boost product demand. Additionally, the demand for connected smart home devices is being driven by the growing global penetration rate of smartphones and the internet. It is anticipated that the smart home sector would expand rapidly, reaching a projected value of US$230 billion by 2028. This increase in adoption of IoT and smart devices in daily lives, and smart home integration have substantially contributed to demand of smart food scales, majorly because users find connectivity and data sharing capabilities more appealing. As a result, global smart food scale market is anticipated to witness growth due to rising adoption of connected devices and IoT.
• Growing Interest in Quantified Self: The concept of “quantified self” for which individuals measure numerous aspects of daily lives, such as nutrition intake, diet balancing and others, has gained traction these days. This rising interest is further propelling the demand for smart food scales.

Challenges

• Dependency on Technology: Despite of a high adoption rate of smartphones and other smart devices, a number of people are yet not comfortable in using such devices due to lack of knowledge. The fact that smart food scales entirely depend on technology may hinder its demand growth as many people may not find it convenient to use technology they are equipped with, hence restraining the overall market growth.  
• Limited Awareness is Expected to Pose Limitation on the Market Growth in the Projected Period
• Perceived Unnecessary Complexity is Predicted to Hamper the Market Expansion in the Upcoming Period.