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Ingredients Market for Plant
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Ingredients Market for Plant-based Food & Beverages Outlook
The ingredients market for plant-based food & beverages is estimated to secure a valuation of US$ 2.3 billion in 2023 and is estimated to rise to US$ 9.30 billion by 2033. The market is anticipated at a CAGR of 15% during the forecast period. Factors driving the Market: Growing chronic diseases such as cardiovascular disease, diabetes, and other infectious diseases are accelerating the demand for plant-based food & beverage ingredients. Increasing demand for health supplements to intake specific vitamins is increasing the adoption of plant-based food & beverage ingredients. Manufacturers develop all types of essential vitamin supplements for patients in the form of tables, capsules, and power are driving the market expansion. In the United States, around 50% of the adult population above 65 years consumes health supplements, which in turn drives market opportunities. Food & beverage manufacturers are focused on consumers' desire for a healthy meal. These manufacturers enhance nutrition content by adding flavors to plant-based food & beverage items. The growing adoption of pro-biotic ingredients in bakery-based products is flourishing the market growth. Rising consumer awareness, changing lifestyles, and disposable income are the factors boosting the demand for plant-based food & beverage ingredients. Growing vegan consumers, high-quality lifestyles, and omega-3 products are advancing the market size during the forecast period. Increasing milk allergies and lactose intolerance are shifting consumers' demand for plant-based food & beverage ingredients. Customize this ReportLet us know your requirement to get 100% FREE customization Customize Now Pitfalls in the Ingredients Market for Plant-based Food & Beverages The high cost of plant-based food & beverage ingredients and lack of availability may limit market growth. The availability of common standardized ingredients and strict regulation on Omega-3 nutrition products in the food & beverages sector may restrain market growth. In 2022, the Food Safety and Standards Association of India announced its new rule to decline the selling of low-quality vegan products. Growing Cardiovascular Disease Increase the Adoption of Plant-based Food & Beverage IngredientsThe rising fast-paced lifestyle, workaholic and busy schedules are shifting consumers' attention toward healthy food & beverages. The increasing prevalence of cardiovascular and other health-related diseases is surging the demand for plant-based food & beverage ingredients. Moreover, adopting functional food and Omega-3 fatty acids are influencing the ingredients market for plant-based food & beverages. These food & beverages help to reduce cholesterol and triglyceride levels, increasing the market opportunities. As per a report by American Heart Association, around 8,00,000 people suffer from heart attacks in the United States annually. All these factors are influencing the global market and reducing the number of chronic diseases. Adopting ready-to-drink beverages with high proteins with organic plant-based ingredients increases market opportunities during the forecast period. Adopting plant-based food & beverages also limit the chance of cancer, including cancer colon, diabetes and promotes weight loss. In addition, the patient's demand for plant-based food & beverage ingredients improve the lack of vitamins, protein, and essential fatty acids. These factors play a crucial role for disease patients and boost their healthy lifestyles. According to an article, vegan food & beverage ingredients consumers between the ages of 25 to 34 highly consume healthy vegan products. Attributes Details Market CAGR (2023 to 2033) 15% Market Valuation (2023) US$ 2.3 billion Market Valuation (2033) US$ 9.30 billion 
Nandini Roy Choudhury
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Find your sweet spots for generating winning opportunities in this market. Talk to Analyst Ingredients Market for Plant-based Food & Beverages, 2017 to 2022 Historical Sales, and Compared to 2023 to 2033 Future OutlookAccording to Future Market Insights, the Ingredients Market for Plant-based Food & Beverage is predicted at a healthy 15% CAGR during the forecast period. Historically, the market registered a CAGR of 14.1% between 2017 and 2022. The increasing number of vegans, ready-to-eat and ready-to-drink products are increasing consumers' awareness of healthy food & beverages in recent years. These consumers are fueling the demand for clean-label and highly standardized products, surging the market opportunities. Adopting antioxidant beverages and value-added items is enhancing the quality of drinks and expanding the market growth. Several top companies are innovating products by increasing the adoption of advanced technologies, which in turn fuels market growth. Due to the COVID-19 waves, marketers faced considerable challenges in the global market. The manufacturers can only provide a small quantity of food & beverage ingredients due to a lack of raw materials. However, due to government rules & regulations, the global market shut down its business temporarily to maintain social distancing. Therefore, the distribution and supply chain need more raw materials. Consumers are more conscious about their health and there is growing demand for a better alternative source for a healthy lifestyle. Therefore, the companies focused on consumers' requirements for healthy diets, such as vegan and immunity booster supplements, are expected to surge the market growth. After the pandemic, the global market started growing, with consumers' popularity of vegan products increasing significantly. Short Term (2023 to 2026): Increasing demand for high-quality, rich vitamins and organic foods, increasing the adoption of plant-based food & beverage ingredients. Medium Term (2026 to 2029): Rising consumer preference, disposable income, and healthy lifestyle propel the market expansion. Long Term (2029 to 2033): Manufacturers are launching healthy product items in the food & beverages to attract fitness freak consumers driving market opportunities. The market is estimated to reach US$ 9.30 billion during the forecast period. Historically, the market stood at US$ 2.02 billion from 2017 to 2022. Comparative Analysis of Adjacent MarketsIngredients Market for Plant-based Food & Beverages: Attributes Ingredients Market for Plant-based Food & Beverages CAGR (2023 to 2033) 15% Value (2023) US$ 2.3 billion Value (2033) US$ 9.3 billion Trends Rising demand for a healthy lifestyle, vegan products, probiotics, and Omega-3 products. Opportunities Growing innovative products, advanced technology, and government initiatives. Vegan Market: Attributes Vegan Market CAGR (2023 to 2033) 10% Value (2023) US$ 29.51 billion Value (2033) US$ 76.54 billion Trends The rising population of vegetarians and concern about animal cruelty. Opportunities The rising chronic disease, fitness freak consumers and prominent players are driving the market opportunities. Frozen Food Market: Attributes Frozen Food Market CAGR (2023 to 2033) 3.2% Value (2023) US$ 166.5 billion Value (2033) US$ 228.15 billion Trends Increasing demand for ready-to-eat meals, less time-consuming and quick meals. Opportunities Rising technology, innovation of technology, and new product launches. 
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A unified Market Research Subscription Platform, built for today's disparate research needs. Sign-Up Probiotics Category Dominates the Product Type SegmentBased on product type, probiotics dominate the global market by securing a high share during the forecast period. There is an increasing demand for vegan food & beverages for maintaining and influencing the body's immune system. Increasing the adoption of probiotics keeps harmful bacteria away, which creates digestion problems. Consumers are more conscious about their health, which drives their attention toward plant-based products. Rising consumer problems related to lactose intolerance and improper digestion are increasing the demand for probiotics products. The popularity of vegan foods due to growing animal rights and environmental problems is increasing the adoption of probiotics products. Being a healthy substitute, consumers around the globe are boosting the demand for probiotics in recent times. Top Influencing Countries in the Global Market Growing Consumption of Plant-based Food & Beverages Ingredients Drives Asia Pacific MarketAsia Pacific is capturing a significant share of 14.5% of the global market during the forecast period. India and China are significantly growing the market due to increasing health awareness, disposable income, and demand for probiotics products. Growing innovative products, and advanced technologies, including microencapsulation, are driving the Asia Pacific ingredients market for plant-based food & beverages. Manufacturers are developing better, highly standardized vegan products that are advancing the Asia Pacific market size. Growing population, urbanization, and rising consumer preference to avoid meat and high-cholesterol meals are increasing the adoption of plant-based food & beverage ingredients. India is one of the prominent nations in producing vegan-based products due to the increasing vegan population. In India, around 30% of the population is entirely vegan, consequently driving market expansion. The key players are launching meat alternatives by launching plant-based meat and are influencing India's ingredients market for plant-based food & beverage. In Dec 2021, Evolved Food announced its plant-based protein and meat alternatives to promote a healthy lifestyle with excess protein. The Popularity of Vegan Food Influences the United States MarketThe United States is securing a maximum share of the global market during the forecast period. The rising demand for vegan foods and the popularity of vegan drinks drive the United States market size. Consumers are shifting their unhealthy lifestyles by increasing the adoption of plant-based food & beverage ingredients in the United States. The rising demand for protein, low-fat, and vitamin-enriched products is fueling the demand for plant-based food & beverage ingredients. Moreover, innovations of plant-based meats, soya chunks, and dairy alternatives drive the United States ingredients market for plant-based food & beverages. The widespread dairy plant-based beverages such as pea, almond, rice, and hemp and oat milk further uplift the United States market. Growing Health-conscious Consumers Uplift the United Kingdom MarketThe United Kingdom is registering a relevant global share during the forecast period. Increasing demand for plant-based products and dietary supplements drives the United Kingdom market. The manufacturers are developing newly launched plant-based products that add value and bring good taste for health-conscious consumers. The rising heart-related issues and risk of stroke are increasing the adoption of plant-based food & beverage ingredients in the country. Furthermore, consumers' focus on the vegan diet and growing awareness of healthy plant-based food by various organizations fuel the United States' ingredients market for plant-based food & beverages. Competitive LandscapeThe market players are playing an essential role in the global market by capturing a maximum output by investing considerable amounts in research & development activities. These players are promoting vegan-based products for health by excluding low-quality lifestyles. The manufacturers are launching unique products through their market research and deep analysis. The marketers focus on providing organic and natural food & beverages based on plants. Further, they provide probiotic and non-dairy beverages to capture consumers' attention. These players adopt a few marketing methodologies such as mergers, acquisitions, collaborations, partnerships, mergers, and agreements. Other Prominent Players in the Market include Nestle SA Conagra Brands Inc Danone S.A. Beyond Meat Inc Tofutti Brands Inc Kerry Group BASF SE Ingredion Beneo GmbH Ajinomoto Chr. Hansen Sugarlogix Sensus B.V. A & B Ingredients Tate & Lyle Foodchem International Corporation Dupont Nutrition & Biosciences Nutra Food Ingredients Stratum NutritionRecent Developments in the Ingredients Market for Plant-based Food & Beverages are: In May 2022, Danone announced its new diary and plant-based products that desire parents' satisfaction to provide their children with a suitable plant-based diet. This plant-based completes the proper nutrients, flexitarian, and vitamin requirements among children. In January 2022, Gaia's Farming Co. announced its newly launched milk alternative beverages, including oats and hemp beverages, to satisfy vegan populations' requirements. In May 2021, Conagra introduced its plant-based burger to expand its portfolio in Canada. In 2020, according to a data report by Plant Based Foods Associations, the sales of vegan products surpassed nearly US$ 7 billion. Due to the increasing demand for sustainable products, manufacturers are innovating new product launches to meet consumers' desires. In September 2021, Food Corporation launched its e-commerce platform to provide plant-based products to its consumers. The company provides around 40 plant-based food items with superior, standardized, sustainable, and high nutrients. Scope of ReportAttribute Details Forecast Period 2023 to 2033 Historical Data Available for 2017 to 2022 Market Analysis US$ billion for Value Key Countries Covered United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Türkiye, Northern Africa, and South Africa Key Segments Covered Product Type RegionKey Companies Profiled Nestle SA Conagra Brands Inc Danone S.A. Beyond Meat Inc Tofutti Brands Inc Kerry Group BASF SE Ingredion Beneo GmbH Ajinomoto Chr. Hansen Sugarlogix Sensus B.V. A & B Ingredients Tate & Lyle Foodchem International Corporation Dupont Nutrition & Biosciences Nutra Food Ingredients Stratum NutritionReport Coverage Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives Customization & Pricing Available upon Request Market by Category By Product Type: Probiotics Phytochemicals Protein & Amino Acids Enzymes Fatty Acids Prebiotics Vitamin Specialty Carbohydrates Fibers Minerals By Region North America Latin America Europe South Asia & Pacific East Asia The Middle East & Africa |
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