Non-Meat Ingredients Market Size, Market Competitive Landscape, Business Growth, Share, And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Non-Meat Ingredients Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The non-meat ingredients market size has grown strongly in recent years. It will grow from $40.8 billion in 2023 to $42.88 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to rise in vegetarian and vegan diets, growing environmental concerns, expansion of meat substitutes market, research and development in food industry, cultural and ethnic influences..

The non-meat ingredients market size is expected to see strong growth in the next few years. It will grow to $53.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to consumer education and awarenes, retail and foodservice trends, global expansion of plant-based diets, regulatory support and guidelines, clean label and natural food demand.. Major trends in the forecast period include rise in plant-based diets, demand for clean label products, health and wellness focus, sustainability and environmental concerns, innovation in meat substitutes, regulatory changes and health guidelines..

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Market Drivers and Trends:

The rising consumption of convenience food is expected to propel the growth of the non-meat ingredients market. Convenience foods refer to processed food products that require less time to prepare prior to consumption. They include ready-to-eat food products, packaged foods, and preserved foods. Increasing preferences towards convenience foods are expected to increase the utilization of non-meat ingredients, as it improves the flavor and color of the meat product, in addition to other functional and textural aspects. For instance, in September 2023, according to the Connected Dining: Ready-to-Eat Meals Are Eating Restaurants' Lunch report published by PYMNTS, a US-based news and analysis company in payments, retail, fintech, financial services, and the digital economy, 37% of consumers aim to opt for consumption of ready-to-eat meals out of 2,400 US consumers. Due to the affordability of prepared meals. Therefore, an rising consumption of convenience food will drive the non-meat ingredients market.

Technological advancement is a key trend in the non-meat ingredients market. Advanced specialized food ingredients play an important role in the food value chain. These innovative ingredients ensure that the food remains safe, healthful, nutritious, and convenient. Major players operating in non-meat ingredients are focused on developing advancements in non-meat ingredients to strengthen their market position. For instance, in March 2023, Kerry Group plc, an Ireland-based public food company providing taste and nutrition innovation, presented SucculencePB, a revolutionary approach to plant-based meat substitutes that replicates the succulent, juicy flavor of meat that consumers around the world enjoy. Along with offering a significantly better nutritional profile and environmental impact, SucculencePB also addresses the issue of dry mouth in cooked plant-based meat substitutes, which is crucial. Customers will love the authentic, succulent, and meat-like sensation that is produced by this plant-based eating experience.

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Major Key Players of the Market:

Associated British Foods plc; BASF SE; Kerry Group plc; The Dow Chemical Company; Essentia Protein Solutions Holdings.; Advanced Food Systems Inc.; Wiberg GmbH; DuPont de Nemours Inc.; Archer-Daniels-Midland Company; Koninklijke Dsm N.V; Ingredion Incorporated; Campus SRL; Aliseia SRL; Redbrook Ingredient Services Limited; Wenda Ingredients; General Mills Inc.; Cargill Incorporated; Roquette Frères S.A.; Emsland Group; Axiom Foods Inc.; MGP Ingredients Inc.; Beneo GmbH; Global Bio-chem Technology Group Company Limited; Glanbia plc; Avebe U.A.; The Scoular Company; A&B Ingredients Inc.; Fiberstar Inc.; Cosucra Groupe Warcoing SA; Tereos S.A.; Agridient Inc.; Burcon NutraScience Corporation; AIDP Inc.; Nutriati Inc.; Amino GmbH; The Green Labs LLC; Sotexpro SAS; Gold Coast Ingredients; Hydrosol GmbH & Co. KG; Suedzucker AG; Nutra Food Ingredients LLC

Non-Meat Ingredients Market 2024 Key Insights:

• The non-meat ingredients market will grow to $53.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Non-Meat Ingredients Market Surges With The Rise In Ready-To-Eat Foods
• Technological Advancements Transform The Non-Meat Ingredients Market
• North America was the largest region in the non-meat ingredients market in 2023

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