Plant-based Food Ingredients Market

Allied Market Research predicts a remarkable surge in the Plant-Based Food Ingredients Market.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATE, February 14, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Plant-based food ingredients Market by Type, Application: Global Opportunity Analysis and Industry Forecast, 2021-2030,”

The Plant-based food ingredients market size was valued at $2,895.6 million in 2020 and is estimated to reach $12,341.4 million by 2030, registering a CAGR of 15.3% from 2021 to 2030.

▶ 𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/A15006

The outbreak of the pandemic has positively affected the global Plant-based food ingredients market, owing to rise in concern about health and increased spending for high nutritional food.In addition, after COVID-19 outbreak, people are increasingly enquiring about ingredients used in food products and are dynamically changing their food preferences from animal based food products to Plant-based food products.

According to the plant-based food ingredients market analysis, the market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into emulsifiers, texturants, binding agents & stabilizers, cultures & probiotic ingredients, preservatives, enzymes, fibers, sweeteners, and others. On the basis of application, the market is segmented into, bakery, confectionery, beverages, snack products, ready meals, nutrition & supplements, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, 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).

On the basis of type, the emulsifiers segment was the highest contributor to the market, with $738.4 million in 2020, and is estimated to reach $2,305.0 million by 2030, at a CAGR of 11.8% during the forecast period.

▶ 𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 : https://www.alliedmarketresearch.com/request-for-customization/A15006

Rise in demand for processed food products including bakery products, owing to rise in disposable income and changing food habits and increase in applications of emulsifiers in Plant-based food products are expected to propel the plant-based food ingredients market growth during the forecast period. Furthermore, people are heavily consuming nutritional and functional food products with clean label and less chemical added products. In such product manufacturing, emulsifiers play various roles such as emulsification, dispersion, foaming, wetting, prevention of sticking, and prevention of gelatinization.

Thus, rise in demand for Plant-based food products including bakery, beverages, confectionary, nutrition, and supplements are expected to drive growth of the product market through the emulsifiers segment during the forecast period.

According to the plant-based food ingredients market trends, on the basis of application, the beverages segment has highest share in global Plant-based food ingredients market. Rise in number of lactose-intolerant and dairy-allergic consumers have accelerated demand for Plant-based beverages, especially dairy milk alternatives, which propels growth of the Plant-based ingredients market. Symptoms of lactose intolerance among individuals include abdominal pain, diarrhea, nausea, gut distension, flatulence, and constipation. Rise in number of these allergies promotes consumption of dairy milk alternatives as consumers are more aware of healthy eating habits. Furthermore, Plant-based food ingredients are gaining considerable traction in the sports, energy, and functional beverages market as people demand for Plant-based sports, energy, and functional beverages. Thus, above mentioned factors propels growth of the Plant-based ingredients market through beverages segment.

▶ 𝐁𝐔𝐘 𝐍𝐎𝐖 : https://www.alliedmarketresearch.com/checkout-final/4c1c01cc48cc15da36d0795ffa32f444

Region wise, Europe garnered a major share in the market in 2020, and is expected to maintain its dominance throughout the plant-based food ingredients market forecast period. The market for Plant-based food ingredients is expected to grow at a significant rate, owing to their increasing consumption of Plant-based food products through bakery, confectionary, and beverages. Germany is the largest Plant-based food ingredients market in Europe to increase in demand from millennials and considerable base of vegan population and surge in marketing activities. In addition, improved distribution channels also drive the growth of the product market in Europe.

Players operating in the global plant-based food ingredients industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Archer-Daniels-Midland Company, Cargill Incorporated, DuPont de Nemours, Inc., Ingredion Incorporated, International Flavors & Fragrances, Inc., Kemin Industries, Kerry Group, Novozymes, Palsgaard A/S and Tate & Lyle.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

The Plant-based food ingredients market size was valued at $2,895.6 million in 2020, and is estimated to reach $12,341.4 million by 2030, registering a CAGR of 15.3% from 2021 to 2030.

By type, the fibers segment is estimated to witness the significant growth, registering a CAGR of 21.2% during the forecast period.

In 2020, depending on application, the bakery segment was valued at $554.6 million, accounting for 19.2% of the global Plant-based food ingredients market share.

In 2020, the Germany was the most prominent market in Europe, and is projected to reach $623.9 million by 2030, growing at a CAGR of 10.1% during the forecast period.

▶ 𝐒𝐏𝐄𝐀𝐊 𝐖𝐈𝐓𝐇 𝐀𝐍𝐀𝐋𝐘𝐒𝐓 : https://www.alliedmarketresearch.com/connect-to-analyst/A15006

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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