Global Plant-Based Ingredient Market Surges with Asia-Pacific at Forefront, Forecast to Hit USD 1.84 Trillion by 2028 | DataM Intelligence

Leander, Texas - The Global Plant-Based Ingredient Market reached approximately USD 1,157.92 billion in 2024 and is expected to reach about USD 1,840.50 billion by 2028, growing at a CAGR of around 10.99% during the forecast period from 2024 to 2031.

This robust growth is driven by rising health consciousness among consumers, increased awareness of the environmental and nutritional benefits of plant-based ingredients, and innovations in product formulations that improve ingredient functionality and appeal.

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United States: Key Industry Developments
✅ November 2025: Tetra Pak launched sunflower protein as a new plant-based ingredient designed for functional beverages, offering up to 50% protein content with a neutral flavor profile, providing flexibility for food and beverage producers to enhance nutrition and texture.

✅ November 2025: Solar Foods partnered with Pothos to develop gas-fermented Solein protein powders, set to enter the U.S. market as a novel, sustainable source of plant-based protein.

✅ April 2025: Vivazen introduced functional plant-based supplements enriched with botanical extracts, targeting health-conscious consumers seeking natural ingredient options.

Asia Pacific / Japan: Key Industry Developments
✅ October 2025: Kao Corporation launched an eco-friendly menstrual pad collection using recycled and biodegradable materials, reflecting Japan's push towards sustainable consumer products.

✅ September 2025: Unicharm Corporation expanded its product range with gender-neutral feminine hygiene products, supporting inclusivity and evolving consumer needs.

✅ August 2025: The Japanese government increased subsidies for local manufacturers focusing on sustainable feminine hygiene product innovations, encouraging eco-conscious production methods.

Key Merges and Acquisitions (2025):
✅ JBS-owned Vivera acquired The Vegetarian Butcher from Unilever to strengthen its plant-based portfolio and expand market presence globally.

✅ Century Pacific completed acquisition of Loma Linda from Atlantic Natural Foods, enhancing its offerings in plant-based protein and ready-to-eat meals.

✅ Danone acquired Kate Farms, increasing its footprint in specialized plant-based nutritional products for healthcare and consumer markets.

✅ Valio took over Raisio's plant protein business, reinforcing its position in the European plant protein ingredient supply chain.

✅ Allplants, a plant-based ready meal brand, had its assets and recipe intellectual property split in two deals-one with Ella Mills' Plants business and another with recipe kit startup Grubby-after entering administration.

✅ Louisville Vegan Jerky Company was acquired by Louisville Brands, targeting expansion in plant-based snack offerings.

Market Segmentation Analysis:
-By Type: Cereals, Legumes, Nuts, Tubers, Seeds, and New Sources
The plant-based ingredient market includes diverse cereals such as oat, rice, corn/maize, wheat, rye, barley, sorghum, millet, pseudo cereals like buckwheat, quinoa, and amaranth. Legumes/pulses/oil seeds include soya, pea, fava, bean, lupin, lentil, chickpea, peanuts, while nuts cover almond, cashew, macadamia, hazelnut, and walnut. Tubers mainly include potato and sweet potato. Seeds include coconut, flax, sunflower, hemp, and emerging sources like mushrooms, mycelia, duckweed, algae, air protein, spirulina, chia, basil, and seaweed. Among these, cereals and legumes combined dominate the type segmentation due to their widespread use and availability, with cereals broadly leading the share.

-By Application: Food and Beverages, Nutraceuticals, Pharmaceuticals, Personal Care, Others
The food and beverages segment commands about 50% market share as of 2025, driven by growing consumer demand for plant-based meat alternatives, dairy substitutes, functional drinks, and protein bars. Nutraceuticals follow with roughly 38% share, fueled by health-conscious consumers seeking plant-derived supplements and functional ingredients. Pharmaceuticals and personal care applications, while growing, contribute smaller shares but are expanding due to increased interest in natural, sustainable ingredients.

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Growth Drivers:
-Rising health consciousness driving demand for plant-derived nutrients that help prevent chronic diseases and support immune function.

-Growing vegan, flexitarian, and lactose-intolerant populations fueling demand -for plant-based alternatives.

-Increasing environmental awareness leading consumers to choose sustainable ingredients with lower carbon footprints versus animal-derived ones.

-Advancements in biotechnology, fermentation, and precision extraction improving ingredient functionality and cost-effectiveness.

-Expanding applications in functional foods, beverages, alternative proteins, and dietary supplements targeting specific health needs.

-Supportive government initiatives and favorable regulations fostering innovation, market accessibility, and functional food development.

Regional Insights:
-Asia-Pacific: The Asia-Pacific region is the fastest-growing market for plant-based ingredients, with a projected CAGR of 12.63% from 2026 to 2033. This growth is driven by increasing health awareness, urbanization, evolving dietary preferences, and a growing vegan and flexitarian population in countries like China and India.

-North America: North America is another major market for plant-based ingredients. Some reports cite North America as having the largest market share in 2024, with figures such as 38% and 40%. This is attributed to strong consumer awareness of healthy and sustainable diets, a high vegan population, and the presence of major industry players.

-Europe: Europe holds a significant market share, with estimates ranging from 30% in 2024 to 31% in 2023. Its growth is supported by stringent regulations, a focus on sustainable food systems, and increasing consumer interest in plant-based diets.

-Latin America: The Latin American region is an emerging market for plant-based ingredients, experiencing rising demand due to growing health consciousness, increasing flexitarian diets, and expanding retail and food service industries.

-Middle East & Africa: This region represents a smaller but growing segment of the market. Its expansion is influenced by increasing health awareness and evolving dietary trends

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Key Players:
ADM | Cargill Inc. | Bunge Limited | Roquette | Glanbia PLC | Ingredion Incorporated | Tate & Lyle PLC | International Flavors & Fragrances Inc. | Kerry Group | Kemin Industries

Key Highlights (Top 5 Key Players) for Plant-Based Ingredient Market:
-Roquette reported a turnover of approximately EUR 4.5 billion (around USD 4.9 billion) in 2024, establishing itself as a global market leader in plant-based ingredients for food, nutrition, and healthcare markets.

-ADM (Archer Daniels Midland Company) generated significant revenue in the plant-based ingredient sector, driven by its global operations in agricultural processing and specialty food ingredients.

-Cargill Inc. recorded robust revenues from its plant-based ingredients division, supported by its diversified portfolio in agricultural products and food ingredients.

-Bunge Limited's revenue from plant-based ingredient operations contributed significantly to its overall food and agriculture enterprise income.

-Glanbia PLC reported notable revenue from nutrition and plant-based protein products, including powders, dairy alternatives, and functional nutrition components.

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