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Non-Meat Ingredients Market: Soaring on CAGR of 5.1% and 6.0% in Historic and Forecast Periods Respectively
Non-Meat Ingredients Market
What Is The Projected Market Size Of The Global Non-Meat Ingredients Market And Its Growth Rate?
• 2024 Market Size: $42.88 billion
• 2025 Market Size: $45.07 billion
• 2029 Market Size: $56.98 billion
The market expects a CAGR of 5.1% in the historic period and 6.0% over the forecast period. Factors such as cultural and ethnic influences, research and development in food industry, and environmental concerns have largely contributed towards the historic growth. The forecast period growth is expected to be driven by consumer awareness, retail trends, global plant-based diets expansion, clean label and natural food demand, and regulatory support.
What Is Driving The Growth In The Non-Meat Ingredients Market?
The rise in consumption of convenience food is expected to significantly spur the growth in the non-meat ingredients market. Convenience foods require lesser preparation time and include products like ready-to-eat food, packaged foods, and preserved foods. A rising preference for convenience food is expected to bolster the non-meat ingredients utilization which improves the flavor, color, and other functional and textural aspects of food. A report by PYMNTS indicates that 37% out of 2,400 US consumers preferred ready-to-eat meals as they were more affordable.
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Who Are the Key Players Driving Non-Meat Ingredients Market Growth?
• 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
What Are The Key Trends In The Non-Meat Ingredients Market?
• Rise in plant-based diets
• Demand for clean label products
• Health and wellness focus
• Sustainability and environmental concern
• Innovation in meat substitutes
• Regulatory changes and health guidelines
What Are The Segments Of The Global Non-Meat Ingredients Market?
• By Ingredient: Binders, Fillers, Extenders, Flavoring Agents, Coloring Agents, Preservatives, Salts, Texturing Agents
• By Product Type: Fresh Processed Meat, Raw-Cooked Meat, Pre-Cooked Meat, Raw Fermented Sausages, Cured Meat, Dried Meat
• By Source: Chemical substances, Plant origin, Animal origin
Which Region Leads The Non-Meat Ingredients Market?
North America dominated the non-meat ingredients market in 2024, while Asia-Pacific is projected to be the fastest-growing region. The other regions covered in the non-meat ingredients market report are Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Non-Meat Ingredients Market Global Market Report?
- Market Size Analysis: Analyze the Non-Meat Ingredients Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Non-Meat Ingredients Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Non-Meat Ingredients Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Non-Meat Ingredients Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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