Ingredients Market for Plant Based Food & Beverages Size By Product (Probiotics [Lactobacilli, Bifidobacterium, Streptococcus, Bacillus] Proteins & Amino Acids [Proteins, L-Glutamate, Lysine, Methionine, Threonine, Tryptophan] Phytochemicals & plant extracts [Carotenoids, Flavonoids, Phytosterols] Prebiotics [FOS, Inulin, GOS, MOS] Specialty carbohydrates, Fatty acids [Omega 3, Omega 6, Omega 7, Omega 9] Vitamin [Vitamin A, Vitamin D, Vitamin K, Vitamin E, Vitamin B1, Vitamin B2, Vitamin B3, Vitamin B5, Vitamin B6, Vitamin B7, Vitamin B12, Vitamin C] Minerals [Zinc, Magnesium, Calcium, Iron] Enzymes [Proteases, Lipases, Carbohydrases {Amylases, Xylanases, Cellulases, Pectinases, Lactases} Polymerases & Nucleases, Phytases, Catalyses] Fibers [Soluble and Insoluble] Food texturants[ Hydrocolloids, Emulsifiers, Stabilizers), By Application (Plant-based Milk & Derivatives, Bakery & Confectionery, Sweet & Savory Snacks, Plant-based juices, RTD Tea & Coffee, RTE & RTC Meals), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market 2021- 2027

Industry Overview

Global Ingredients Market for Plant Based Food & Beverages size was over USD 1.4 billion in 2020 and is estimated to grow at over 19.5% CAGR between 2020 and 2027 owing to a significant increase in the prevalence of chronic lifestyle-related diseases such as obesity, cardiac problems, and diabetes, which has increased consumer preference for healthy & nutritional food products.
 

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Increasing inclination of health-conscious consumers toward a vegan diet and growing veganism trend in the developed & developing countries, such as the U.S., Canada, Germany, France, the UK, Australia, China, and India is expected to drive the ingredients market for plant-based food & beverages growth over the forecast period. Growing consumer consciousness towards meat substitutes products coupled with rising demand for clean label products is escalating the business growth.
 

The growing desire for a healthy lifestyle has led to high demand for functional food & beverages and dietary supplements products, thus propelling the growth of ingredients market for plant based food and beverages. Surging demand for natural and plant-based ingredients as a substitute for chemical ingredients in the food & beverage industry is driving the product demand over the past few years.
 

Increasing demand for functional food is expected to drive the demand for fatty acids ingredients

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Fatty acids ingredients for plant-based food & beverages surpassed USD 1 billion in 2020 and is projected to show growth at a CAGR of over 19% in the forecasted period. Evolution in consumer lifestyles owing to the rising incomes and rapid urbanization has contributed to the increasing consumption of functional food across the globe. Thus, growing awareness pertaining to health lifestyle and nutrition-rich food has led to the robust growth in demand for fatty acids.
 

The omega 3 segment surpassed USD 510 million in 2020. Increasing use of omega 3 as a functional ingredient in the daily diet to support brain & heart health is expected to boost the product demand in plant-based food & beverages. Also, the growing consumer investments in preventive healthcare and wellbeing are projected to fuel the ingredients market for plant-based food & beverages revenue over the projected time period.
 

The omega 6 segment should grow with the CAGR of 19% in the forecast period. Various research studies suggest that omega 6 fatty acids play an important role in promoting immune health and regulating genes. The growing focus on research & development to find new health benefits of omega 6 is projected to drive the ingredients market over the forecast period. The demand for omega 9 ingredients is escalating owing to easy availability of ingredients that are rich sources of omega 9, such as olive, almond, cashew, avocado, peanut, and walnuts.
 

Rising consumption of fortified bread and breakfast cereals should fuel the demand for specialty carbohydrates

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The specialty carbohydrates segment in the ingredients market for plant based food & beverages was around USD 75 million in 2020 and is projected to show growth at over 20% of CAGR through 2027. Carbohydrates are essential as they supply the body with glucose, which is the primary fuel used for body functions. Consumers across the globe are seeking convenient food products such as bread and breakfast cereals products that are produced with added health-enhancing ingredients.
 

Rising prevalence of lactose intolerance to create demand for ingredients for plant based food & beverages from plant-based milk & derivatives application segment

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The plant-based milk & derivatives application segment in the ingredients market for plant based food and beverages was around USD 780 million in 2020 and is projected to show growth of 19.5% of CAGR from 2021 to 2027. Rising incidences of lactose intolerance among population is driving the demand for alternate dairy products such as plant based milk and derivatives such as almond milk, soy milk, and dairy-free creamers.
 

Increasing product innovation and constant focus of manufacturers on producing unique flavors with high nutritive value are boosting the market. Increasing investments along with rising start-ups in the plant-based milk are expected to propel the ingredients market for plant based food and beverages over the forecast period.
 

Rapid growth in dietary supplement industry in Asia Pacific should propel the growth of ingredients market for plant based food & beverages

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Asia Pacific ingredients market for plant based food & beverages crossed USD 605 million in 2020. A growing number of fitness centers, gyms, and health clubs in Asian countries, such as India and Australia, coupled with the rising awareness toward fitness among the youngsters is expected to increase the demand for dietary and sport nutrition supplements. These factors are projected to boost the demand for ingredients for plant based food and beverages.
 

Increasing acceptance of sports as a career in Asian countries is expected to increase the demand for protein rich food items in daily diet. This further provided a huge market opportunity for the ingredient market for plant based food & beverages in the Asia Pacific region.
 

Strategic mergers & acquisitions & partnership among industry participants and new product development to accelerate the market competitiveness

Global ingredients industry for plant based food & beverages is highly fragmented & competitive and is characterized by to the presence of several small, medium & large industry players operating worldwide. The key players in the market includes Cargill Incorporated, BASF SE, DuPont Nutrition & Biosciences, DSM NV, Ingredion, Kerry Group, Roquette Freres, and Tate & Lyle. The key market players in the market are implementing various strategies includes agreements & partnerships, mergers & acquisitions, expansion, and new product development in order to increase market share and to tap the growth opportunities in the market.
 

For instance, in November 2021, Archer Daniels Midland Company (ADM) acquired Deerland Probiotics & Enzymes which is a global provider of dietary supplements using prebiotic, probiotic,  and enzyme technology. The strategic acquisition aims to enhance the product portfolio of Archer Daniels Midland Company.
 

In October 2021, Tate & Lyle expanded its distribution partnership with Azelis in three new European countries including the Republic of North Macedonia, Bulgaria, and Greece. According to the partnership Azelis will be distributing Tate & Lyle’s ingredient products including CLARIA Clean Label Starches, Stevia sweeteners, and PROMITOR Soluble Fibres to customers in 17 countries.
 

Global ingredients market for plant based food & beverages report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons, and revenue in USD Million from 2021 to 2027 for the following segments:

By Product

• Probiotics
  • Lactobacilli
  • Bifidobacterium
  • Streptococcus
  • Bacillus
  • Others
• Proteins & amino acids
  • Proteins
  • L-Glutamate
  • Lysine
  • Methionine
  • Threonine
  • Tryptophan
  • Others
• Phytochemicals & plant extracts
  • Carotenoids
  • Flavonoids
  • Phytosterols
  • Others
• Prebiotics
  • FOS
  • Inulin
  • MOS
  • GOS
  • Others
• Specialty carbohydrates
• Fatty acids
  • Omega 3
  • Omega 6
  • Omega 7
  • Omega 9
• Vitamins
  • Vitamin A
  • Vitamin D
  • Vitamin K
  • Vitamin E
  • Vitamin B
  • Vitamin B2
  • Vitamin B3
  • Vitamin B5
  • Vitamin B6
  • Vitamin B7
  • Vitamin B12
  • Vitamin C
• Minerals
  • Zinc
  • Magnesium
  • Calcium
  • Iron
  • Others
• Enzymes
  • Proteases
  • Lipases
  • Carbohydrases
    • Amylases
    • Xylanases
    • Cellulases
    • Pectinases
    • Lactases
  • Polymerases & Nucleases
  • Phytases
  • Catalyses
  • Others
• Fibers
  • Soluble
  • Insoluble
• Food Texturants
  • Hydrocolloids
  • Emulsifiers
  • Stabilizers
  • Others

By Application

• Plant-Based Milk & Derivatives
• Bakery & Confectionery
• Sweet & Savory Snacks
• Plant-Based Juices
• RTD Tea & Coffee
• RTE & RTC Meals
• Others

By Region

• North America
  • U.S
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Spain
  • Poland
  • Netherland
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
  • Argentina
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • UAE
  • South Africa