The Non-Meat Ingredients by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Non-Meat Ingredients, 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.
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.
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The non-meat ingredients market covered in this report is segmented –
1) By Ingredient: Binders, Fillers, Extenders, Flavoring Agents, Coloring Agents, Preservatives, Salts, Texturing Agents
2) By Product Type: Fresh Processed Meat, Raw-Cooked Meat, Pre-Cooked Meat, Raw Fermented Sausages, Cured Meat, Dried Meat
3) By Source: Chemical substances, Plant origin, Animal origin
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.
The non-meat ingredients market report table of contents includes:
1. Executive Summary
2. Non-Meat Ingredients Market Characteristics
3. Non-Meat Ingredients Market Trends And Strategies
4. Non-Meat Ingredients Market – Macro Economic Scenario
5. Global Non-Meat Ingredients Market Size and Growth
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26. South America Non-Meat Ingredients Market
27. Brazil Non-Meat Ingredients Market
28. Middle East Non-Meat Ingredients Market
29. Africa Non-Meat Ingredients Market
30. Non-Meat Ingredients Market Competitive Landscape And Company Profiles
Top Major Players:
- Associated British Foods PLC
- BASF SE
- Kerry Group PLC
- The Dow Chemical Company
- Essentia Protein Solutions Holdings
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