Plant Based Ingredients Market Analysis

Plant Based Ingredients Market Analysis

The wheat product segment is poised to grow at 6.5% CAGR through 2032.

• The rapidly expanding number of health-conscious consumers is steering the preference for healthy, nutrition rich and whole grain diets. As per a recent study by American Journal of Clinical Nutrition (AJCN) published in November 2022, the whole grain intake in the U.S. increased 39.5% to 61.5%.
   
• The surging growing interest in high fibre biscuits and whole wheat bread driven by the rising health concerns will also contribute to the product demand.
   

With respect to application, the wheat-based ingredients market from the dietary supplements segment is expected to register over 5% CAGR till 2032.
 

• The surging risks associated with strokes, heart diseases, cancer and obesity is driving the consumption of wheat-based products as they ensure the maintenance and growth of body tissues. As per the WHO, over 1 billion people worldwide are obese, accounting for 340 million adolescents, 650 million adults, and 39 million children.
   
• Wheat and wheat-based ingredients, including wheat germ, bran, and whole wheat, are rich sources of essential nutrients and provide vitamins, minerals, fiber, and protein.
   
• The growing burden of celiac disease and gluten sensitivity will also push the adoption of wheat-based ingredients in dietary supplements.
   

Europe plant based ingredients market, comprising Germany, the U.K., France, Italy and Spain, is set to observe over 6.5% CAGR during the forecast period. The rising consumer awareness regarding health, environmental sustainability, and animal welfare is driving the preference for low-fat, multigrain and organic baked products, adding to the adoption of plant based items. With the growing number of flexitarian and vegan consumers, many restaurants and fast-food chains are incorporating plant-based options into their menus. As per the Agriculture and Horticulture Development Board (AHDB), nearly 16% of Britishers are flexitarians. The strong presence of regulatory frameworks for accommodating the increasing plant-based demand will also prove favorable for the regional product uptake.