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Plant-based Food Ingredients Market 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. Plant-based ingredients are made up of vegetables, fruits, seeds, plant roots, and other parts of plants. They are added in food for specific technical and/or functional purposes during processing, storage, or packaging. Food ingredients are majorly used in food coloring, preservation, emulsion, stabilizing, and other purposes. Drivers, restraints, and opportunitiesGrowth in flexitarian and vegan population, rise in efforts against animal slaughtering, and concerns about their welfare are majorly attributable propels demand for Plant-based food products, which boosts growth of the Plant-based food ingredients market. Furthermore, lactose intolerance and dairy allergic people are increasingly inclining toward Plant-based foods. As Plant-based food products provide proteins, vitamins, and carbohydrates like dairy product.
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Plant-based Food Ingredients Market Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/15375 Frontrunners in the industry
Archer-Daniels-Midland Company
Cargill Incorporated
DuPont de Nemours
Ingredion Incorporated
International Flavors & Fragrances
Kemin Industries
Kerry Group
Novozymes
Palsgaard A/S
Tate & Lyle
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Plant-based Food Ingredients Market 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. Emulsifiers are used to create and maintain emulsions that help reduce food waste and calories to replace fat. On the basis of application, the preservatives segment has highest share in the market. Food preservatives are gaining significant traction in the plant-based foods & beverages industry. This is majorly attributed to benefits associated with them such as increased shelf life, slow or prevent changes in color, flavor, or texture and delay rancidity. North America is the most established and mature market for Plant-based food, owing to rise in number of health-conscious customers in the region. Growth of the North America plant-based ingredients market is driven by increase in demand for Plant-based food products, owing to rise in concerns about animal welfare and lactose intolerance among people.
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Plant-based Food Ingredients Market 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 Plantbased food products through bakery, confectionary, and beverages. Purchase this Report (Price 6,169 USD for single user license): https://www.alliedmarketresearch.com/checkout-final/584da28ce8f6760a63cc850c854becb0 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.
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Plant-based Food Ingredients Market
Covid-19 scenario
The outbreak of Covid-19 led to the enforcement of lockdown in almost all the countries across the world. It caused significant hardship to several industrial verticals along with the Plant-based Food Ingredients Market. There were huge disruptions in the supply chain as well.
Nevertheless, the government bodies are now coming up with relaxations on the existing regulations to help different sectors get back on their feet yet again.
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Plant-based Food Ingredients Market About Allied Market Research: 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 services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI. 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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