The ingredients market for plant-based food & beverages is experiencing significant growth, with an estimated valuation of US$ 2.3 billion in 2023, projected to soar to US$ 9.3 billion by 2033. This remarkable growth, driven by a robust CAGR of 15%, is fueled by factors such as increasing health awareness, rising demand for vegan products, and the pursuit of healthier lifestyles among consumers globally.
The demand for plant-based food & beverage ingredients is being propelled by several key factors. Growing concerns over chronic diseases like cardiovascular disease and diabetes, coupled with an increasing preference for health supplements and fortified foods, are driving the adoption of plant-based ingredients. Additionally, rising consumer awareness, changing dietary preferences, and the surge in veganism are further fueling market demand.
Dive Into Knowledge Excellence See Our Report Sample For Invaluable Insights: https://www.futuremarketinsights.com/reports/sample/rep-gb-16658
Several factors are contributing to the rapid growth of the plant-based ingredients market. These include the rising adoption of functional foods, probiotics, and omega-3 products to promote better health. Moreover, the market is witnessing a shift towards clean-label and standardized products, driven by consumer preferences for healthier and more sustainable alternatives. Increasing allergies and intolerances to traditional dairy products are also driving the demand for plant-based alternatives.
Top Trends Shaping the Industry:
- Rising Demand for Healthier Alternatives: Increasing health awareness and concerns over chronic diseases are driving consumers towards plant-based ingredients.
- Focus on Veganism: The growing popularity of veganism is fueling demand for plant-based food & beverage ingredients.
- Innovation in Functional Foods: Manufacturers are innovating with functional ingredients such as probiotics and omega-3 products to meet consumer demand for healthier options.
- Clean-Label Products: Consumer preferences for clean-label and standardized products are driving manufacturers to focus on transparency and sustainability.
- Shift from Dairy: Allergies and intolerances to traditional dairy products are driving consumers towards plant-based alternatives.
Key Categories Driving Market Growth:
- Probiotics: Probiotics dominate the market, driven by increasing consumer awareness of gut health and digestive issues.
- Omega-3 Products: Rising demand for omega-3 fatty acids and their health benefits is driving growth in this category.
- Vegan Food & Beverages: The popularity of vegan products is contributing to the overall growth of the market, with consumers seeking plant-based alternatives for a variety of products.
Contact Us Now To Discuss Your Customization Options And Unlock The Full Potential Of Market Intelligence For Your Business Success: https://www.futuremarketinsights.com/customization-available/rep-gb-16658
Takeaways:
- The ingredients market for plant-based food & beverages is expected to have a valuation of US$ 9.30 billion by 2033.
- With a CAGR of 15%, the global market is increasing from 2023 to 2033.
- The United States ingredients market for plant-based food & beverages is anticipated to secure a maximum share through 2033.
- In the historical period, the market secured a CAGR of 14.1% between 2017 and 2022.
- In the historical period, the market captured US$ 2.02 billion between 2017 and 2022.
Who is Winning?
The essential players are contributing prominent roles in the global market through their innovative skills and ideas. These players upsurge the market by investing vast amounts in research & development activities. The market players are innovating better vegan-based products to boost the immune system and maintain proper nutrients for consumers. A few marketing tactics followed by the market players are acquisitions, mergers, partnerships, collaborations, and agreements.
Other Prominent Vendors in the Market:
- Nestle SA
- Conagra Brands Inc
- Danone S.A.
- Beyond Meat Inc
- Tofutti Brands Inc
- Kerry Group
- BASF SE
- Ingredients
- Beneo GmbH
- Ajinomoto
- Hansen
- Sugarlogix
- Sensus B.V.
- A & B Ingredients
- Tate & Lyle
- Foodchem International Corporation
- Dupont Nutrition & Biosciences
- Nutra Food Ingredients
- Stratum Nutrition
Recent Developments in the Market:
- In 2022, a beverage company- Gaia’s Farming Co., launched a milk alternative to drinks such as hemp and oats drinks to fulfill the vegan consumer’s requirements.
- In 2021, Conagra, a consumer packaged goods company launched a plant-based burger to expand its growth in Canada.
Purchase this Premium Research Report | Immediate Delivery Available: https://www.futuremarketinsights.com/checkout/16658
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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube