According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of Plant Based Ingredients are estimated to reach a value of USD 10.4 billion by 2032, surging at 12.2% CAGR through the decade.
There is a growing global demand for better foods as people’s understanding of their health grows. Despite supply chain disruptions, irrational purchasing, and storage issues, plant-based food enterprises are predicted to have a bright future. Recent years have seen an upsurge in innovation on the market for vegan ingredients. Many alternatives are being researched to replace elements that are based on meat. Algae, cellulose flours, and plant-based proteins are used as substitutes.
In the early stages of the pandemic, shoppers are spending less time in stores and supermarkets, but they are also stocking up on food and packaged goods that include food additives as a possible treatment.
Analyse the Potential of Plant-Based Ingredients: For information on the expanding $10.4 billion market, access the FMI sample report:
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Key Takeaways from Market Study
- North America is expected to have 38% Plant Based Ingredients market share.
- US holds 65 % Plant Based Ingredients market share in North American Market.
- Europe is expected to have 31 % Plant Based Ingredients market share.
- Germany holds 22 % Plant Based Ingredients market share in European Market.
- Asia is expected to have 20 % Plant Based Ingredients market share.
- China holds 32 % Plant Based Ingredients market share in Asian Market.
- Market players are experimenting with new ways on increasing production capacity and also doing research and innovation to create products. “ The growing focus on the consumption of plant based products in developed regions such as Europe and North America is likely to open lucrative opportunity for market players in the long run”, –says a lead analyst at Future Market Insights.
Competitive Landscape
Plant Based Ingredients have a strongly competitive global market. The agro-based enterprises which provide grains are the market’s main players
Some of the leading companies offering Snack Pellets are Ingredion Inc. (US), Archer-Daniels-Midland Company (US), DuPont de Nemours, Inc. (US), Cargill Inc. (US), Puris Proteins LLC (US),BI Nutraceuticals, Inc. (US), Olam International (Singapore), SunOpta Inc. (Canada), Dohler GmbH (Germany), The Scoular Company (US), Trader Joe’s, Simply Balanced, Sweet Earth Natural Foods, Lightlife are the major players in the market.
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Plant-Based Ingredients Market By Category
By Product Type, the Plant-Based Ingredients Market is Segmented as:
- Soy
- Wheat
- Pea
- Corn
- Canola
- Rice
- Potato
By End Use Application, the Plant-Based Ingredients Market is Segmented as:
- Meat Substitutes
- Infant Foods
- Bakery
- Confectionery
- Snacks
- Cosmetics
- Sports & Energy Nutrition
- Preservatives
- Animal Feed
By Sales Channel, the Plant-Based Ingredients Market is Segmented as:
- Convenience Store
- Specialty Stores
- Direct Sales
- Modern Trade
- Small Groceries
- Online Retail
- Other Sales Channels
By Region, the Plant-Based Ingredients Market is Segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle east and Africa
Want More Information? Inquire with Our Analysts About Trends and Market Segmentation for Plant-Based Ingredients:
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Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the Plant Based Ingredients presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Plant Based Ingredients Market By Type (Dairy substitutes, Staple food, Specialty food, Food additives, Nutrients & supplements), By Claim (Non-GMO, GMO, Organic), By Sales Channel (Direct Sales, Specialty Stores, Modern Trade, Convenience Store, Small Groceries, Online Retail, Other sales Channels), By Buyers Type (Food processors & Manufacturers, Household & Residential., Horeca)
By End-use Application (Food & beverages, Cosmetics & personal care, Nutraceuticals, Agricultural), & Region & Region for 2022 – 2032 and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, APEJ, and MEA).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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