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Plant Based Ingredients Market Trends

Report ID: GMI3137
Published Date: Nov 2023
Report Format: PDF

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Plant Based Ingredients Market Trends

The increasing number of investments and acquisitions of plant-based startups by major food companies will prove favorable for the market demand. To cite an instance, in October 2023, leading vegan fried chicken firm VFC Foods purchased Clive’s Purely Plants, a U.K. plant-based pie, quiches, rolls, and nut roasts manufacturer to cater to consumers increasingly seeking varied plant-based options. The ongoing R&D efforts focused on creating innovative plant-based ingredients to mimic the taste and texture of traditional animal-based products will also add to the product uptake.

Authors: Kunal Ahuja, Sarita Bayas

Frequently Asked Questions (FAQ) :

The market size of plant based ingredients is expected to grow at 7.4% CAGR from 2023 to 2032, led by the growing consumer importance regarding weight management, cardiovascular health, and overall well-being.

The wheat product segment may expand at over 6.5% CAGR during 2023 to 2032, due to the rapidly expanding number of health-conscious consumers worldwide.

Europe market size is set to witness 6.5% CAGR during the forecast period, attributed to the higher preference for low-fat, multigrain and organic baked products in the region.

Some of the prominent plant based ingredient producers are Cargill, DuPont, Roquette, Dohler Group, Health Warrior, and Naturex.