Unleashing the Potential: Exploring the Soaring Growth of the Plant-Based Food & Beverage Ingredients Market to US$ 9.30 Billion by 2033, Revolutionizing Healthy Eating Globally

The ingredients market for plant-based food & beverages is predicted to capture a valuation of US$ 2.3 billion in 2023 and is projected to rise to US$ 9.30 billion by 2033. The market is estimated at a CAGR of 15% during the forecast period.

The demand for plant-based food & beverage ingredients is being fueled by rising disposable income and changing attitudes towards healthy eating. Additionally, the market is expanding due to customers' rising demand for organic food ingredients and health supplements. Additionally, producers are creating plant-based foods and beverages for consumers in order to maintain correct protein and vitamin levels, driving the market's expansion.

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A rising number of infectious, food poisoning and digestion problems are increasing the adoption of plant-based food & beverage ingredients. The food & beverage manufacturers develop vitamin supplements in the form of capsules, powder, and tablets, which in turn booming the sales of plant-based food & beverage ingredients. In the United States, around 50% of the population above 65 consumes health supplements for healthy living.

The growing demand for probiotic products for bakery products is flourishing the market opportunities. The rising popularity of vegan and Omega-3 products among consumers to enhance the quality of their lifestyle is further accelerating the demand for plant-based food & beverage ingredients. Food & beverage manufacturers of innovative plant-based food & beverages for lactose intolerance and milk allergy patients are surging the market opportunities.

High Cost of Plant-based Food & Beverages Decline the Market Growth

Plant-based food & beverages are high in nutrients such as protein and minerals. The consumption of daily plant-based food & beverages is a sign of a healthy lifestyle. Apart from it, a few factors limiting the market growth are as follows:

The limiting availability and high cost of plant-based ingredients are expected to decline in market growth.
Governments' stringent regulation on Omega-3 nutrition and the availability of low-quality plant-based ingredients may restrain market growth.
The Food Safety and Standards Association of India announced its new regulation to restrain the selling of low-quality plant-based products.

Takeaways:

The ingredientsmarket 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 ingredientsmarket 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

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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.

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

Obtain complete access to the comprehensive report featuring the most recent insights:

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https://www.futuremarketinsights.com/reports/healthy-takeout-market

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Unleashing the Potential: Exploring the Soaring Growth of the Plant-Based Food & Beverage Ingredients Market to US$ 9.30 Billion by 2033, Revolutionizing Healthy Eating Globally

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.