Press release
Non-Meat Ingredients Market Estimated to Reach $37.1 Billion by 2025
Non-Meat Ingredients Market
Full Report Link @ https://www.industryarc.com/Research/Non-Meat-Ingredients-Market-Research-504899
Non-Meat Ingredients Market Segment Analysis - By Ingredient
The global Non-Meat Ingredients Market based on ingredient type has Binders, Extenders, Fillers, Flavoring Agents, Coloring Agents, Preservatives, Salt, and Texturing Agents. The Extenders and Filler segments register for the highest market share in 2019 and is set to continue for the forecast period 2020-2025 as they help in decreasing the cost of the meat products. The preservative segment is set to be the fastest growing with a CAGR of 4.10% during the forecast period 2020-2025. This is owing to the increased usage of preservatives to store the processed meat. The ingredients which are derived from natural sources like animals and plants are boosting the market growth in the ingredient segment.
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Non-Meat Ingredients Market Segment Analysis - By Meat Type
The Meat Type segment of Non-Meat Ingredients Market has Beef, Pork Poultry, Mutton and Other Meat. The Beef segment registers for the highest market share in 2019 and is set to continue for the forecast period 2020-2025 owing to an increase in the consumption of beef globally. The global increase in the production of meat like poultry and pork and increased usage of non - meat ingredients in this meat type is driving the growth of the market during the forecast period 2020-2025.
Non-Meat Ingredients Market Segment Analysis - By Geography
The global Non-Meat Ingredients Market by geography had the dominant share in North America, in terms of revenue in 2019. North America holds the largest market share of 37.7% in 2019. This is owing to the increase in the consumption of processed meat. The market in Asia-Pacific is estimated to increase owing to the increased population and fast-paced urbanization. Increased demand for the flavorful, colorful, nutritious, and affordable food by the consumers, increased living standards, and increased consumption of frozen meat are fueling the growth of non-meat ingredient market during the forecast period 2020-2025.
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Non-Meat Ingredients Market Drivers
Increased demand of processed meat
The major factor that is driving the demand of the non-meat ingredient market is the rise in increase in demand for the processed meat. The Increase in food processing and meat industries in developing countries are also fueling market growth. The increase in usage of snacks is boosting the meat snacks which are flavored by non - meat ingredients, as these snacks are the best alternative for regular snacks like biscuits and potato fries.
Non-Meat Ingredients Market Challenges
Strict regulation by government
The strict regulation and limitation on the chemicals or ingredients used in the non-meat ingredients and quality standards are challenging the companies to produce non-meat ingredients that are safe and healthy for the consumers.
Non-Meat Ingredients Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Non-Meat Ingredients Market. Key companies of this market are Kerry Group Plc, Du Pont, Campus SRL, Associated British Foods Plc, Wiberg GmbH, Aliseia SRL, Redbrook Ingredient Services Limited, General Mills, Wenda Ingredients, Advanced Food Systems, Inc., and others.
Acquisitions/Product Launches:
In January 2016, General Mills, Inc. has acquired EPIC Provisions, a meat snacks company based in Austin, Texas. This acquisition supports the General Mills company to grow as highly authentic brand of new snacking category.
In June 2020, Essentia Protein solution, a U.S. based company has introduced ExcelPro™ Plus PP 50, a new functional hybrid into its range of ingredients. It consists of functional pork and pea protein.
Key Takeaways
Geographically, North America’s Non-Meat Ingredients Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high consumption of processed meat.
Increased health concern by consumers are driving the market for the plant-based and animal-based non - meat ingredients.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Non-Meat Ingredients Market report.
Non-meat ingredients provide enhanced properties to the meat and manufacturers are using advanced technologies to provide multi- functional ingredients which is driving the market growth.
Related Reports :
A. Savory Ingredients Market
https://www.industryarc.com/Report/7470/savory-ingredients-market.html
B. Flavored Syrups Market
https://www.industryarc.com/Research/Flavored-Syrups-Market-Research-504435
For more Food and Beverage Market related reports @ https://www.industryarc.com/Domain/6/food-beverages-market-research.html
Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
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