Plant-based ingredients market to hit $13 trillion by 2025
Global plant-based ingredients market demand is expected to hit US$13 trillion by 2025, according to a new research report by Global Market Insights, Inc.
Increasing demand for nutritional content and inclination towards non-meat diets may foster plant based ingredients market. Growing consumer consciousness on allergen-free and high-fibre food products has shifted tastes towards milk substitutes and dairy-free beverages to deliver necessary protein requirement may stimulate the market for plant-based ingredients.
A craving for corn
Corn-based ingredients market demand expects consumption at over 850 million tons for last year. Such ingredients are used in animal feed application owing to their rich protein content. Increasing animal health awareness among farmers and animal feed manufacturers may increase the demand for corn protein in animal feed as it aids in improving the livestock growth efficiency, thereby stimulating plant-based ingredients market demand.
Pea-based ingredients to shoot up
Pea based ingredients market demand may observe significant gains at over five per cent up to 2025. Growing demand for sports and dietary supplements pertaining to their high nutritional specifications as compared to other synthetic proteins may impact the product demand. These help effectively in muscle building & recovery and are ideal for those having a vegan lifestyle. Rising demand from fitness industry and various health centres has created a huge opportunity for pea proteins, which may stimulate the plant-based ingredients market growth.
Canola climbs on chemical-free trend
Canola oil has gained popularity owing to its easy availability and diverse applications in cosmetics, food and health industries. It helps increasing immunity as it contains less saturated fats and is very effective for heart health. Rising demand of chemical-free products has increased the usage of canola oil in cosmetic industry pertaining to its anti-aging properties. Growing demand for natural skincare products pertaining to rising health concerns regarding synthetic chemicals is likely to boost the plant-based ingredients market demand.
Rice-based gains in Germany
Germany’s rice plant-based ingredients market demand is likely to surpass U$190 billion up to 2025. Rapid growth of vegan products owing to the new innovations in the bakery & confectionary goods and beverages with applications in food & beverages, sports supplements and bakery & confectionery will stimulate the plant-based ingredients market. In addition, rising importance owing to product innovation and R&D activities in this sector may contribute towards the industry growth.
Potato-based boost in the US
US potato-based ingredients market demand from animal feed application may witness significant gains at over five per cent over the forecast period. Increasing awareness about animal health eating and rising demand for nutrient-rich feed for both consumers and animals may drive the overall market. Consumers are paying more attention towards label claims while purchasing food products, which has led to increasing natural ingredients product demand owing to their high protein level – thereby boosting plant-based ingredients market growth.
Sino soy on the rise
China soy-based ingredients market demand is expected to witness growth rate at over 6.5 per cent by the end of forecast period. High processed meat and dairy have increased the risk of developing diabetes and cancer, which has enhanced the demand of natural and less processed products diets. Changing public preference towards meat substitutes is likely to drive the plant-based ingredients market growth.