Food

Global Plant-Based Food Ingredients Market Snapshot to 2030 – Focus on Improving Quality, Shelf Life and Lowering Production Costs Drives Growth – ResearchAndMarkets.com

Global Plant-Based Food Ingredients Market Snapshot to 2030 - Focus on Improving Quality, Shelf Life and Lowering Production Costs Drives Growth - ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Plant-Based Food Ingredients Market by Type, Application: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to from ResearchAndMarkets.com offer.

The Plant-Based Food Ingredients Market size was valued at USD 2,895.6 Million in 2020 and is projected to reach USD 12,341.4 Million by 2030, registering a CAGR of 15.3% from 2021 to 2030 .

Plant-based food ingredients are strictly extracted from plant sources, including fruits, vegetables, plant roots, and other plant parts. Food ingredients are food additives that are added to food to achieve the desired effect. The increase in cases of intolerance to food products of animal origin, the increase in the vegan population, the increase in the vegan population and the large investments in companies manufacturing plant-based products are a few Key factors driving the growth of the Plant-Based Food Ingredients Market. Vegan food, dairy and meat substitute manufacturing companies focus on research and development and product launch with clean labels and plant-based food labels, which further contributes to market growth over the forecast period.

Food industries are promoting their food products by labeling them vegan, due to the growth of veganism and the rise of the flexitarian diet. Growth in the food industry and dynamic changes in consumption patterns are driving the demand for plant-based food products, which in turn is driving the growth of the plant-based ingredients market during the period of forecast. Growing urbanization and awareness of the harmful effects of food products made with chemical added artificial ingredients are creating massive demand for ready-to-eat and functional plant-based beverages, packaged food products and frozen food products, as they indirectly contribute to the growth of the global plant-based food ingredients market.

The COVID-19 outbreak has impacted the plant-based food ingredients market widely and positively. This is attributed to the dynamic shift in dietary preference from conventional foods to organic and plant-based food products for overall health and immunity.

However, the lack of awareness of the health benefits of consuming plant-based foods and the drastically low supply of plant-based food ingredients and the high cost of plant-based food products have a major impact. on the growth of the global plant-based food ingredients market during the forecast. period.

The market is segmented on the basis of type, application and region. On the basis of type, the market is categorized into emulsifiers, texturizers, binding and stabilizing agents, probiotic cultures and ingredients, preservatives, enzymes, fibers, sweeteners, and others. Based on application, the market is segmented into bakery, confectionery, beverages, snack products, ready meals, nutrition and supplements, etc. By region, it is analyzed in North America (United States, Canada and Mexico), Europe (Germany, United Kingdom, France, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan , South Korea, Australia, and Rest of Asia-Pacific) and LAMEA (Brazil, South Africa, Saudi Arabia and Rest of LAMEA)

Key Benefits

  • The study provides an in-depth analysis of the global Plant-Based Food Ingredients market with current trends and future estimations to elucidate impending investment pockets in the market.

  • The report provides information on drivers, restraints and opportunities with impact analysis.

  • A quantitative analysis from 2020 to 2030 is provided to showcase the financial competence of the market.

  • Porter’s five industry forces model illustrates market competitiveness by analyzing various parameters such as the threat of new entrants, the threat of substitutes, the bargaining power of buyers, and the bargaining power of suppliers operating in the market .

  • The value chain analysis in the report provides a clear understanding of the roles of the stakeholders involved in the value chain.

  • Competitive intelligence highlights the business practices followed by leading market players across various regions.

Market dynamics

Drivers

  • Rising per capita income and middle class

  • Raising consumer awareness on healthy eating

  • Changes in lifestyle and eating habits

  • Consumer preference for healthier baked goods

  • Increase in demand for ready-to-eat foods

Detention

  • High price of Clean Label plant-based food products

  • Availability of healthier substitutes

Opportunities

  • Introduction of plant-based food and beverage products to the untapped market

  • Focus on improving quality, shelf life and reducing production costs

  • Increase in the trend of plant-based frozen baked goods

  • Increase in consumer demand for allergen-free foods

  • Purchasing power on the rise

  • Increase in the vegan population

Companies cited

  • Archer-Daniels-Midland Company

  • Cargill Inc.

  • DuPont de Nemours, Inc.

  • Ingredion Incorporated

  • International Flavors and Fragrances, Inc.

  • Kemin Industries

  • Kerry Group

  • Novozymes

  • Palsgaard A/S,

  • Tate & Lyle

For more information on this report, visit https://www.researchandmarkets.com/r/3nnbzg