Plant-Based Ingredient Market Analysis, Size, Share, Trends and Industry Report 2023-2030

Report Overview 

The Global Plant-Based Ingredient Market is expected to grow at a CAGR 0f 10.99% during the forecast period (2023-2030). 

Plant-based ingredients refer to components isolated from plants, excluding any animal-derived elements. Plant-based food encompasses finished products that utilize ingredients sourced from plants, including vegetables, whole grains, legumes, nuts, fruits, seeds, tubers, and seaweed. The global plant-based ingredient market is anticipated to experience growth, driven in part by the increasing incidence of lifestyle-related diseases. 

The prevalence of lifestyle diseases such as high blood pressure, diabetes, and obesity is on the rise, attributed to changing lifestyle patterns and hectic schedules. In response to these health concerns, consumers are increasingly adopting precautionary measures to mitigate the impact of lifestyle diseases. As a result, there is a growing demand for plant-based ingredients, given their association with healthier dietary choices. This trend is expected to contribute to the expansion of the global plant-based ingredient market in the projected years. 

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Plant-Based Ingredient Market Trends 

The market for plant-based ingredients is expected to witness significant growth due to the increasing inclination towards plant-based food and the associated health benefits of vegan food. A rising awareness among consumers regarding the health advantages linked to the consumption of plant-based foods is a key driver for this growth. Plant-based ingredients contain essential minerals such as plant protein, fibers, and minerals, meeting the body's requirements for protein, minerals, and fiber. 

People are increasingly turning to plant-based ingredients for their well-being, driven by heightened health awareness, a growing focus on preventive care, and an increased interest in dietary choices. The incorporation of plant-based ingredients into the diet offers various health benefits, including improved kidney function and a reduced risk of type 2 diabetes. 

Whole plant-based diets, characterized by low levels of saturated fats, no dietary cholesterol, and ample fiber, contribute to heart health. Additionally, the use of plant-based ingredients in food production offers several other health benefits, such as enhanced athletic performance, a lower risk of certain cancers, improved gut health, reduced arthritis pain, and the maintenance of low levels of 'bad' cholesterol. 

The anticipated growth in the plant-based ingredient market is further fueled by factors like rapid urbanization, increasing health awareness, lifestyle changes, and rising per capita income. As consumers seek healthier dietary choices, the market is poised for significant expansion during the forecast period. 

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Market Segmentation 

By Type 

• Cereals 
• Pseudo Cereals 
• Legumes/Pulses/Oil Seeds 
• Nuts 
• Tubers 
• Seeds 
• New Sources 
• Others 

By Application 

• Food 
• Beverages 
• Nutraceuticals 
• Pharmaceuticals 
• Personal Care 
• Others 

Market Key Players 

Major players are Cargill Inc, Bunge Limited, Roquette, Glanbia PLC, Ingredion Incorporated, Tate & Lyle PLC, International Flavors & Fragrances Inc, ADM, Kerry Group and Kemin Industries 

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