Non-Meat Ingredients market has been significantly growing with higher adoption of meat alternative products.
Significant consumer shift to vegan diet and products with high protein content, increased health awareness about the use of Non-Meat Ingredients, and innovation and development in Non-Meat Ingredients market are some of the major factors driving the growth of the market. The flavoring agent segment is expected to pace up with its adoption in wide range of application owing to enhance the flavor of the product. Further, other segments such as binders, fillers, flavoring agents, extenders, and preservatives is also expected to gain traction during the forecasted year.
Within the report, the market is segmented into source, ingredients, meat type, and geography. By source, the market is further segmented into soy, wheat, pea, and others. On the basis of ingredients, the market is segmented into binders, fillers, flavoring agents, extenders, preservatives, and others. By meat type, the market is categorized into pork, beef, poultry, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing consumer health awareness about healthy food option has empowered the growth of futuristic innovations.
Non-Meat Ingredients is type of plant-based protein which are used to replace the animal protein such as meta, egg, and others. Increased popularity of cereals and snacks which have high protein content and low fat has surged the use of Non-Meat Ingredients owing to its beneficial properties such as excellent binding characteristic, and others has surged its demand. Further, populations are becoming vegan or flexitarian which has posed a opportunity for the market growth. Strong consumer demand for more protein from their food and beverages is driving innovation in Non-Meat Ingredients products.
Rising adoption in various industries is one of the major factors accelerating the market growth.
The industries for Non-Meat Ingredients are food and beverages and animal feed. Within these industries, food and beverages industry is one such industry, wherein the use of Non-Meat Ingredients is increasing owing to increasing consumer preference for meat alternatives, rising awareness about health benefits associated with use of Non-Meat Ingredients, increasing vegan population and others. The animal feed industry has also witnessed an extensive use of Non-Meat Ingredients in feed products owing to increased demand for clean label and sustainable feed options.
Recent strategic developments in Non-Meat Ingredients market
The Non-Meat Ingredients market has undergone several significant developments, and a few of these have been mentioned below:
The Non-Meat ingredients market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Kerry Group, Associated British Foods plc, Ingredion, ADM, and Wiberg GmbH are among the prominent players operating in the market.
Target audience for the report:
Scope of the report:
In this report, the market has been segmented on the basis of: