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Global Ingredients Market for Plant Based Food & Beverages size worth over USD 4.5 billion by 2027

  • Published Date: December 17, 2021

According to a new research report by Global Market Insights Inc., global Ingredients Market for Plant Based Food & Beverages size is set to surpass USD 4.5 billion by 2027 owing to high production of plant-based food & beverage and increasing consumption of dietary and health supplements. Additionally, significant demand for probiotic ingredients in bakery products coupled with increase in cases of lactose intolerance and milk allergies is predicted to provide growth opportunities to the market.
 

Growing preference for protein enrich food and beverages is anticipated to boost proteins & amino acids product demand

Proteins & amino acids product should show significant growth in the predicted period and reach at the value of USD 205 million by the end of 2027. Significant shift of consumers toward protein fortified food & beverage provides huge growth opportunities for ingredient market for plant based food & beverages. The rising prevalence of allergies, such as lactose intolerance in the North American and European countries, resulted in growing need for plant-based protein ingredients used for the commercial production of plant-based food and beverages.
 

Proteins such as plant-derived protein ingredients are lower in calories and fat as compared to animal-based proteins but higher in fiber and essential nutrients. Thus, consumers are preferring plant-based proteins over animal-based proteins to reduce calorie intake and boost the daily nutrient profile. This trend is predicted to bolster the plant-based proteins demand for the production of plant-based food & beverages.
 

Growing demand for natural ingredients will foster the need for food texturants form ingredients market for plant based food & beverages.

Food texturants product segment accounts for significant share in the global market in 2020 with a market size of USD 90 million. The significant shift of consumers toward healthy food habits has increased the consumption of plant-based food and beverages, thus propelling the use of food texturants. Increasing focus of food & beverage manufacturers on incorporating naturally sourced food texturants in the products owing to the spiking demand for clean label food products should accelerate the product requirement over the anticipated period.
 

Hydrocolloids segment is expected to reach over USD 90 million by 2027. Hydrocolloids as a thickening agent is extensively used in a wide range of food products including gravies, soups, sauces, toppings, and salad dressings. Stabilizers are essential ingredients used for commercial production of margarine, mayonnaise, and salad dressings. Thus, a wide range of hydrocolloids and stabilizers applications in food and beverages is accelerating the ingredient market for plant based food & beverages.
 

Rising demand for convenience food products should boost plant based ingredients demand from RTE & RTC meals application

RTE & RTC meals segment is predicted to show significant growth during the a anticipated period and is anticipated to reach over USD 795 million by the year 2027. Increasing urbanization, soaring household income coupled with rising number of employed women with children as well as single parent working have propel the need for convenience food product such as RTE & RTC meals.
 

The consumption of RTE & RTC meals is more in metro cities compared to the urban areas where a lot of working people do not get sufficient time to cook proper, healthy, and wholesome meals. Moreover, the increasing demand for frozen products and single serve products will further propel the ingredients market for plant based food & beverages growth during the anticipated time period.
 

Browse key industry insights spread across 795 pages 999 market data tables and 60 figures & charts from the report “ 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- 2027in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/ingredients-market-for-plant-based-food-beverages

 

Increasing willingness of consumers to pay higher prices for premium and nutritious products in North America should propel product demand

North America is anticipated to reach over USD 1 billion by 2027 driven by the high disposable incomes accompanied by the willingness of consumers to pay higher prices for premium and nutritious products. Also, increasing awareness about the adverse impacts of chemical ingredients and increasing cases of allergies caused due to consumption of synthetic ingredients will boost the natural ingredients. Moreover, increasing focus on personal health and wellbeing, especially after COVID-19 is increasing the consumption of nutritional food & beverages which is anticipated to accelerate the ingredient market share for plant based food & beverages over the forecast time period.
 

Players in the ingredients industry for plant based food & beverages are implementing multiple strategies such as acquisition, merger, partnerships, and expansion of product portfolio to sustain their position in the global market. The major players include Tate & Lyle, BASF SE, Cargill Incorporated, DSM NV, Roquette Freres, Kerry Group, Ingredion, and DuPont Nutrition & Biosciences which play a significant role in ingredients market for plant based food & beverages.
 

Authors: Kunal Ahuja, Sarita Bayas