Upcycled Ingredients Market Size Worth US$ 512 Million at CAGR of ~6.4% by 2032

The global upcycled ingredients market is estimated to be valued at US$ 275.3 million in 2022 after having registered Y-o-Y growth of 5.9%. Worldwide consumption of upcycled ingredients is projected to increase at a healthy CAGR of 6.4% over the 2022-2032 period, with the U.S. accounting for more than 60% increase in its market share.

Food wastage is a serious issue around the world and has a strong negative environmental impact just like gas emissions. Rising concerns regarding food waste management have led to opening the door for food waste upcycling. In upcycling, new value-added products are produced by converting waste material by using upcycled ingredients.

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Why is Demand for Upcycled Ingredients Increasing at a Rapid Pace?

"Urgent Need to Curb High Food Wastage across the World"
Rising social awareness regarding the negative impact of severe food wastage across the globe is drawing attention to upcycled ingredients among the global population.
According to the Food and Agriculture Organization (FAO), around 1.3 billion tonnes of food is wasted per year globally, with a valuation of US$ 2.6 trillion. This food waste demonstrates a harmful impact on the environment as it is accountable for 6% of global greenhouse gas emissions.

Replicating the social involvement of these worrying environmental issues, consumers are progressively insisting on speeding up action regarding food product disposal, such as food upcycling. This factor is anticipated to upsurge the claim for upcycled products, which reinforces the demand for upcycled ingredients and food waste recycling machines.

Competitive landscape:

Key manufacturers of upcycled ingredients are trying to fetch raw materials to bring innovative certified upcycled ingredients into the market. Many manufacturers collect raw materials from previous manufacturing processes to bring in upcycled ingredients.

As per regulations, upcycled ingredients can be supplied to the B2B sales channel, and therefore, manufacturers need to build their relations with other upcycled product manufacturers.

Also, some manufacturers are involved in inorganic growth tactics such as partnerships to acquire a larger consumer base and higher profit margins.

For instance :

• In March 2022, SunOpta, a key manufacturer of upcycled ingredients, received the Upcycled Ingredient Certified standard from the Upcycled Food Association for the product OatGold.

• In January 2022, ReGrained entered into a partnership with Purotos to offer an upcycled solution for the commercial baking industry.

Categorization of Upcycled Ingredients Industry Research:

• By Ingredient Type :
o Upcycled Starch
o Upcycled Proteins / Powder
o Upcycled Flour
o Upcycled Dietary Fiber
o Upcycled Ethanol
o Upcycled Oils
o Upcycled Vitamins
o Upcycled Electrolytes
o Upcycled Antioxidants
o Upcycled Minerals

• By End Use :
o Food and Beverages
o Cosmetics and personal care
o Nutraceuticals
o Animal Feed and Pet Food

• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & ASEAN
o Oceania
o MEA

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Questionnaire answered in the Market outlook Report of Upcycled Ingredients include:

• What is the key strategy deployed by large players to maximize Upcycled Ingredients Market growth?

• What are the main challenges faced by players in the Upcycled Ingredients market Demand?

• With the advent of technological advancement, how will the Upcycled Ingredients market landscape change over the forecast period?

• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Upcycled Ingredients market size?

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This release was published on openPR.