Latest Regulatory Trends Impacting the Nutraceutical Excipients Market

The Report "Nutraceutical Excipients Market by Functionality (Binders, Fillers & Diluents, Coating Agents, and Flavoring Agents), End Product (Prebiotics, Probiotics, Proteins & Amino Acids, and Vitamins), Form (Dry and Liquid), and Region - Global Forecast to 2025", The global nutraceutical excipients market size is estimated to account for about USD 3.4 billion in 2020 and projected to reach a value of nearly USD 4.9 billion by 2025, growing at a CAGR of 7.3% from 2020 to 2025. The market for nutraceutical excipients market has been growing in accordance with the rise in demand and consumption for nutraceuticals, around the globe. The consumption of dietary supplements in the form of tablets and capsules has been witnessing an upsurge demand in recent times, owing to the growing awareness for health benefits offered by these products that helps to support the wellbeing of the consumers. The key driving factors of the nutraceutical excipients market include increasing consumer concerns regarding maintaining a balanced diet and growing consumer awareness about several diseases caused due to lack of intake of necessary nutrients as a result of imbalanced dietary lifestyles. Food fortification is one of the major trends, which is also fueling the nutraceutical excipients market in the functional food & beverage industry.

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By form, the dry segment is estimated to account for the largest share in the nutraceutical excipients market in 2020

The dry form of nutraceutical excipients accounted for a larger market share, as compared to the liquid form. The popularity of the dry form can be attributed to its cost-effectiveness and convenience in multiple applications. An increase in demand for dry beverage mixes with additional nutrients, including customized mixes and consumer preference for fortified beverages are fueling the growth of the dry segment in the nutraceutical excipients market.

By functionality, the binders segment is estimated to account for the largest share in the nutraceutical excipients market in 2020

Based on functionality, binders accounted for the largest market share in 2019, followed by the fillers & diluents functionality segment. Binders are increasingly being used by dietary supplement manufacturers since these excipients are formulated to act as an adhesive to “bind together” powders, granules, and other dry ingredients to impart the required mechanical strength. Binders can also help in adding volume to low-active dose tablets, resulting in producing effective tablets with appropriate actives by holding the ingredients together. In addition, some binders also act as fillers and diluents in an array of application products, namely magnesium stearate, which is widely used as food and supplement additive. Due to factors such as versatility and vital importance in gaining product efficiency, binders are gaining traction. They are witnessing a rise in consumption as an excipient in the nutraceutical industry.

The segment estimated to account for the largest share in the nutraceutical excipients market in 2020, by end-product is the probiotics segments.

Probiotics are yeast and good bacteria that are beneficial for consumers, as they enhance digestion and gut health, improve immunity, increase nutrient absorption, and lower the chances of food allergies. Probiotic products are offered in different forms, including yogurt and drinks, and supplement forms such as tablets and capsules. However, there are two main challenges to develop a probiotic formulation viable for commercial utilization. The first one is the quality of health attributes that the probiotic organisms can confer, and the second one is the stability of the formulation till the end of its shelf life. Companies are focusing on developing and offering probiotic blend products, which includes APIs (Active Pharmaceutical Ingredient), containing probiotic formulations by using different types of excipients. Among the excipients used in these blends for probiotics formulation, mannitol was found the most suitable, which helped in the enhancement of the shelf life of end-products.

North America is estimated to dominate the nutraceutical excipients market in 2020

North America accounted for the largest market share in 2019. The nutraceutical excipients market in North America is dominating, owing to the concentration of the global players such as DuPont (US), Kerry (Ireland), Cargill (US), and Ingredion (US). The market for nutraceutical excipients here is mature, and hence, the growth is moderate compared to other regions. Other factors contributing to the growth of nutraceutical excipients in North American region include the busy lifestyle of consumers, prevalence of chronic diseases due to hectic lifestyles, and an increase in awareness among consumers regarding the health benefits of nutritional foods, including food supplements, which has driven the demand for functional food products. In addition, the use of technological advancements and new product launches have made excipients available for a wide range of applications in the fortified food & beverage, dietary supplements, and nutraceuticals sectors, which is projected to drive the growth of the market in the region.

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This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies in the nutraceutical excipients market. The key players in the nutraceutical excipients market include DuPont (US), BASF SE (Germany), Kerry Group PLC (Ireland), Ingredion Plc (US), Sensient Technologies (US), Associated British Foods (UK), Roquette Freres (France), Meggle Group Wasser (Germany), Cargill Inc (US), Ashland Global Holdings Inc (US), Seppic (France), Shin-Etsu Chemical Co Ltd (Japan), Fuji Chemical Industries Co Ltd (Japan), Pharmatrans Sanaq AG (Switzerland), Pioma Chemicals (India), Gattefosse (India), W.R.Grace & Co (US), Omya (Switzerland), Grain Processing Corp (US), and Gangwal Chemicals Pvt Ltd (India). The nutraceutical excipients market also consists of key start-up players, which include IMCD (Netherlands), Hilmar Ingredients (US), Innophos Holdings Inc (US), JRS Pharma (Germany), Biogrund GmbH (Germany), Pharma Line Intl Corp (South Korea), Jigs Chemical (India), Panchamrut Chemicals (India), Azelis Chemical Ltd (Europe), and Daicel Group (Japan).

Agricultural Adjuvants Market: Growth Opportunities and Recent Developments

The report "Agricultural Adjuvants Market by Function (Activator and Utility), Application (Herbicides, Insecticides, and Fungicides), Formulation (Suspension Concentrates and Emulsifiable Concentrates), Adoption Stage, Crop Type, and Region - Global Forecast 2026", is estimated to be valued at USD 3.1 billion in 2020 and is projected to reach a value of USD 4.4 billion by 2026, growing at a CAGR of 6.1% during the forecast period. Factors such as the rising demand for improved crop varieties is driving the growth of the agricultural adjuvants market.

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The agricultural adjuvants market includes major product manufacturers and service providers like ) Corteva (US), Evonik Industries (Germany), Nufarm (Australia), Croda International (UK), and Solvay (Belgium). These companies have their manufacturing and service facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. The companies in the global market have been affected, logistics and international demand wise. However, many businesses remained operational through the pandemic and were able to mitigate the risks to their businesses instantaneously.

The surfactants segment by activator adjuvants is estimated to be the most widely used function of the agricultural adjuvants market.

Surfactants have been mixed traditionally with pesticides, especially herbicides, to enhance the droplet retention characteristics of pesticides. The market for agricultural surfactants accounted for the largest share of the global agricultural adjuvants market. Also, amongst the products offered by the key players, products offered as non-ionic surfactants are of much higher preference for its compatibility with a broader range of pesticides. Due to these factors, the market is projected to witness significant growth.

The herbicides segment is estimated to witness the fastest growth in the agricultural adjuvants market, in terms of value from 2020 to 2026

Herbicides are used to kill or control unwanted plants. They have largely replaced mechanical methods of weed control in countries where intensive and highly mechanized agriculture is practiced. Adjuvants are the substances which are either added in a herbicide formulation or to the spray tank that helps in modifying the herbicidal activity or application characteristics, such as spray retention and droplet drying, increasing droplet coverage, increasing herbicide cuticle penetration, better mixing & handling, as well as cellular accumulation which reduces the leaching of herbicide through the soil profile, etc. The benefits associated with herbicides are the major factors contributing to the fastest growth of this market, globally.

The cereals & grains segment, by crop type, is estimated to account for the largest market share, by value, in 2020

Cereals & grains accounted for the largest consumption of herbicides in North America and Asia Pacific, owing to the high cultivation of corn and wheat in countries such as the US and China. Adjuvants are added to the commercial formulae of herbicides to improve their efficacy by increasing the adhesion properties of herbicides to the leaf surface, as well as aiding transport across the waxy cuticle membrane and into the plant. Adjuvants used in herbicide treatment solutions for cereals & grains aim to improve spray droplet retention and penetration of active ingredients into the plant foliage. Thus, the cereals and grains segment is estimated to be the most popular crop type in the agricultural adjuvants market.

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Asia Pacific is projected to grow at the highest CAGR% during the forecast period

The market for agricultural adjuvants in the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2026, owing to the increasing investments by key players in countries such as China, India, and Thailand, and also the rising adoption of adjuvant technology by the crop growers for insecticide applications. Due to these factors, the market in the Asia Pacific region is projected to record the highest growth from 2020 to 2026.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the agricultural adjuvants market. It includes the profiles of leading companies such as this market include Miller Chemical and Fertilizer, LLC (US), Precision Laboratories (US), CHS Inc (US), WinField United (US), Kalo Inc. (US), Nouryon (Netherlands), Corteva (US), Evonik Industries (Germany), Nufarm (Australia), Croda International (UK), Solvay (Belgium), BASF (Germany), Huntsman Corporation (US), Clariant (US), Helena Agri-Enterprises (US), Stepan Company (US), Wilbur-Ellis Company (US), Brandt (US), Plant Health Technologies (US), Innvictis Crop Care (US), Interagro (UK), Lamberti S.P.A (US), Drexel Chemical Company (US), GarrCo Products Inc. (US), and Loveland Products Inc. (US).

Biofertilizers Market Projected to Garner Significant Revenues by 2026

The report "Biofertilizers Market by Form (Liquid, Carrier-Based), Mode of Application (Soil Treatment, Seed Treatment), Type (Nitrogen-fixing, Phosphate solubilizing & Mobilizing, Potash Solubilizing & Mobilizing), Crop Type, and Region - Global Forecast to 2026", The global biofertilizers market size is estimated to be valued at USD 2.6 billion in 2021 and is expected to reach a value of USD 4.5 billion by 2026, growing at a CAGR of 11.9% in terms of value during the forecast period. Factors such as growth in consumer preference for organic food products, adoption of soil fertility management practices, serious concerns regarding the control of nitrate emissions and eutrophication in the aquatic environment, and government promotions for the use of organic fertilizers are some of the factors driving the growth of the biofertilizers market.

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Liquid, by form, is estimated to hold the largest market share during the forecast period

The market for biofertilizers, by form, has been segmented into liquid biofertilizers and carrier-based biofertilizers. Liquid biofertilizers account for the largest market during the forecast period owing to the large pool of products available in the market. Liquid biofertilizer technology is considered an alternative solution to the conventional form of carrier-based biofertilizers. Liquid biofertilizers are specially formulated and contain not only the desired microorganisms and their nutrients, but also substances that can support the stability of the storage conditions of resting spores and cysts for longer shelf-life. Liquid fertilizers have better tolerance limits for adverse conditions. The quality control protocols for liquid biofertilizers are easy and expeditious compared to carrier-based biofertilizers.

Pulses & oilseeds, by crop type, is projected to grow at the second-highest CAGR in the biofertilizers market during the forecast period

The pulses & oilseeds segment is projected to grow at the second-fastest rate during the forecast period. Oilseeds such as soybean are also used as animal feed in the form of cakes as well as in the production of biodiesel and other renewable chemicals. Inoculation with Rhizobium is often recommended to augment nitrogen supply from the soil, particularly where the crop has been introduced recently or has not been grown for several years, or where the native Rhizobium population is inadequate and/or ineffective. Pigeon pea is another important perennial legume crop, which often requires a significant amount of soil nutrients for proper growth. These requirements are easily fulfilled with the assistance of biofertilizers at an affordable price, thus increasing the demand for biofertilizers.

Nitrogen-fixing microbes, by type, is estimated to account for the largest market share during the forecast period

Nitrogen-fixing microbes account for the largest market size during the forecast period. Biological nitrogen fixation provides sustainable and environment-friendly agricultural production. The value of nitrogen-fixing biofertilizers in improving and enabling a higher yield of legumes and other crops can be realized through the application of biofertilizers. They are mainly used in legumes, pulses, black grams, groundnuts, and soybeans. Among all the microorganisms, rhizobium is majorly used due to its efficiency in nitrogen fixation as well as popularity. Rhizobium is a symbiotic, nitrogen-fixing bacterium, which integrates atmospheric nitrogen and fixes it in the root nodules of crops.

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North America is estimated to hold the largest market share during the forecast period

The imposition of bans on the usage of harmful chemicals and fertilizers in the agricultural industry by governments in North American countries has created a high growth potential for biofertilizers. In addition, the increasing acceptance of organic foods among consumers is projected to widen the scope of growth for leading players. The US dominated the biofertilizers market in North America in 2020. The FDA introduced stringent regulations pertaining to the quality standards of agricultural products, which is projected to encourage the use of biofertilizers in the US.

This report includes a study on the marketing strategies and the product portfolios of the major companies that operate in the biofertilizers market. The report has leading company profiles such as Novozymes A/S (Denmark), Vegalab SA (Switzerland), UPL Limited (India), Chr. Hansen Holding A/S (Denmark), Kiwa Bio-Tech (China), Lallemand Inc. (US), Rizobacter Argentina S.A. (Argentina), T. Stanes & Company Limited (India), IPL Biologicals Limited (India), Nutramax Laboratories Inc. (US), Symborg (Spain), Kan Biosys (India), Mapleton Agri Biotech Pty Ltd (Australia), Seipasa (Spain), AgriLife (India), Manidharma Biotech Pvt Ltd (India), Biomax Naturals (India), Jaipur Bio Fertilizers (India), Valent BioSciences (US), Aumgene Biosciences (India), Agrinos (US), Criyagen (India), LKB BioFertilizer (Malaysia), Varsha Bioscience and Technology India Pvt Ltd. (India), and Valagro (Italy).

Food Enzymes Market: Growth Opportunities and Recent Developments

The report "Food Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases), Source, Application (Food & Beverages), Formulation, and Region(North America, Europe, Asia Pacific, and South America) – Global Forecast to 2026", The food enzymes market is estimated to be valued at USD 2.2 billion in 2021 and is projected to reach USD 3.1 billion by 2026, recording a CAGR of 6.4%, in terms of value. The growing demand for diverse range of food products, clean label trend, and increase in disposable income are the factors that are projected to drive the growth of the food enzymes market globally.

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The microorganism segment is projected to witness significant growth during the forecast period.

Based on source, the food enzymes market is segmented into microorganism, plants, and animal. The microorganism segment is projected to witness the fastest growth during the forecast period, as enzymes obtained from microbial sources lead to low production costs and are stable than other sources. They can be produced through fermentation techniques in a cost-effective manner with less time and space requirement, and because of their high consistency, process modification and optimization are easily done.

The carbohydrases segment is projected to account for a major share in the food enzymes market during the forecast period

By type, the food enzymes market is segmented into carbohydrases, proteases, lipases, polymerases & nucleases, and other enzymes (such as catalases, laccases, oxidases, phosphatases, kinases, esterases, and pectinases). Carbohydrases are classified into amylases, cellulases, and other carbohydrases (such as pectinases, lactases, mannanases, and pullulanases). Amylase is used in the baking industry as the addition of amylase to the dough, enhances the fermentation rate which results in the reduction of the viscosity of dough, further improving the volume and texture of the product. Due to easy modification and optimization processes, there is a huge usage of amylase in the food & beverage industry.

The North American region dominated the food enzymes market with the largest share in 2020, whereas Asia Pacific is expected to witness the highest growth rate.

The food enzymes market in North America was dominant due to the increasing demand for enzymes in food applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the food & beverage industry one of the essential sectors in North America. However, the shift of food operations from developed regions, such as North America and Europe, to Asia Pacific, has further contributed to the growth of the food enzymes market in the Asia Pacific region.

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This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHR. Hansen Holdings A/S(Denmark), Kerry Group (Ireland), Jiangsu Boli Bioproducts Co., Ltd. (China), Biocatalysts Ltd. (UK), Puratos Group (Belgium), Advanced Enzyme Technologies Ltd (India), Amano Enzyme Inc. (Japan), Enzyme Development Corporation (US), ENMEX, S.A. de C.V. (Mexico), Aumgene Biosciences (India), Creative Enzymes (US), SUNSON Industry Group Co., Ltd (China), AUM Enzymes (India), Xike Biotechnology Co. Ltd. (China), and Antozyme Biotech Pvt Ltd (India).

Factors Driving the Crop Protection Chemicals Market

The report "Crop Protection Chemicals Market by Type (Herbicides, Insecticides, Fungicides & Bactericides), Origin (Synthetic, Biopesticides), Form (Liquid, Solid), Mode of Application (Foliar, Seed Treatment, Soil Treatment), Crop Type and Region - Global Forecast to 2025" The global Crop protection chemicals size is estimated to be valued USD 63.7 billion in 2020 and is projected to reach a value of USD 74.1 billion by 2025, growing at a CAGR of 3.1% during the forecast period. The growth of this market is attributed to an increasing need for food security of the growing population.

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Herbicides, by type, are estimated to hold the largest market share during the forecast period.

Herbicides are widely used in weed control, which helps in enhancing crop productivity and quality of output. Herbicides help in reducing soil erosion and increase soil fertility and crop yield. They are used to control or kill unwanted plants and are often known as weed killers.

The liquid segment, by form, is estimated to hold the largest share in the Crop protection chemicals during the forecast period

Liquid forms of crop protection chemical products are preferred more by suppliers as well as end-users. Liquid forms offer a longer shelf-life with easy handling, transportation, and application. Also, they are cost-effective, eco-friendly, and sustainable. Companies are investing in the technological development of crop protection chemicals in liquid forms. The liquid forms of crop protection chemicals can either be water-based, oil-based, polymer-based, or their combinations. Typical liquid formulating lines consist of storage tanks or containers to hold active ingredients, inert materials, and a mixing tank for formulating the crop protection chemical products. Water-based formulations require inert ingredients such as stabilizers, stickers, surfactants, coloring agents, anti-freeze compounds, and additional nutrients. Examples of liquid forms are suspension concentrate, suspo-emulsions, and capsule suspension.

Synthetic, by source, is estimated to account for the largest market share during the forecast period

Synthetic crop protection chemicals are manufactured in laboratories and are mixtures of chemicals that intend to avert, kill, repel, or destroy any pests. Synthetic crop protection chemicals are perceived to be toxic and dangerous if proper chemicals are not used. However, since the past 60 years, various innovative synthetic crop protection chemicals have been developed which are less toxic and more effective on crops. Due to innovative product development by the leading crop protection chemical manufacturing companies such as BASF SE (Germany), various new and more pest-specific synthetic crop protection chemicals are being developed, which cause less damage to the environment.

Foliar spray, by mode of application, is estimated to account for the largest market share during the forecast period

The foliar spray mode of application is the most widely used for crop protection chemicals. It can be used for herbicides, insecticides, as well as fungicides. However, it is majorly used for spraying herbicides and insecticides due to labor shortage for removing unwanted weeds manually and also for destroying insect attacks on crops.

Foliar spray or foliar feeding is a technique of feeding plants by applying liquid crop protection chemicals directly to their leaves. Foliar spray is suitable for destroying large number of unwanted grasses, herbs, and shrubs.

Cereals & grains, by crop type, is estimated to account for the largest market share during the forecast period

The cereals & oilseeds segment accounted for the largest market share in terms of value; this is projected to grow at the highest CAGR during the forecast period. The demand for cereals & oilseeds is increasing significantly across the globe owing to the increasing demand for food.

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South America is estimated to hold the largest market share during the forecast period

South America is an emerging agricultural powerhouse, growing at a rapid pace above the global growth average. Growth in this region is significantly contributed by the growth in Brazil and Argentina, which are the world’s most potent agricultural producers and are expected to grow well above the regional average. The economic growth in South America has been stimulated by democratization, economic reforms, and the foundation of the two trading blocs namely, Mercosur and the Andean Pact.

Regulatory framework in South America is quite weak as compared to North America and Europe. The South American Pesticide Action Network controls the regulatory issues in the region. The international trade system from the WTO for regional and bilateral trade deals also undermines national pesticide laws and threatens the ability of South American nations to prohibit dangerous chemicals from being used. This is especially observed in the case of WTOs demand for establishing certain common minimum standards for pesticides among countries. For instance, if a country wants to implement a stricter standard on pesticides as compared to the WTO, it could be recognized as a technical barrier to trade.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the Crop protection chemicals. It consists of the profiles of leading companies such BASF SE (Germany), The Dow Chemicals Company (US), Dupont (US), Sumitomo Chemical Co., Ltd (Japan), Syngenta AG (Switzerland), Bayer Cropscience AG (Germany), FMC Coropration (US), NufarmLimited (Australia), Adama Agricultural Solutions (Israel), Verdesian LIfescineces (US), Bioworks Inc. (US), Valent US (US), Arysta Lifescince Corporation (US), American Vanguard Corporation (US), Chr. Hansen (Denmark), Corteva Agrisciences (US), UPL Limited (India), Jiangsu Yangnong Chemical Group Co Ltd (China), Agrolac (Spain), Lianyungang Liben Crop Science Co. Ltd. (HongKong), Nanjing red sun co. ltd (China), Kumiai Chemicals (Japan), Wynca Chemicals (China), Lier Chemicals (China), Simpcam Oxon (Italy).

Dietary Supplements Market: Growth Opportunities and Recent Developments

The report "Dietary Supplements Market by Type (Vitamins, Minerals, Botanicals, Amino acids, Enzymes, Probiotics), Function (Additional, Medicinal, Sports Nutrition), Mode of Application (Capsules, Tablets, Liquid), Target Customer and Region - Global Forecast to 2026", According to MarketsandMarkets, the global dietary supplements market size is estimated to be valued at USD 136.2 billion in 2020 and projected to reach USD 204.7 billion by 2026, recording a CAGR of 7.0% during the forecast period.

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The demand for dietary supplements is increasing significantly owing to rising prevalence of chronic diseases and changing dietary habits of the consumers. Increasing consumer health awareness and rising disposable income across regions are factors that have encouraged people to shift to dietary supplements. The elderly population is focusing on adapting to nutritional supplements specifically tailored to their needs to maintain their good health and quality of life.

The adult segment, by target customer, is projected to witness significant growth during the forecast period.

The deficiency of certain vitamins in adults is one of the key factors that have led to the rise in the consumption of dietary supplements among adults. According to National Health and Nutrition Examination Survey, in 2016, nearly 150 million Americans consume dietary supplements, out of which, among adults, 44% of men and 55% of women are consumers. This is projected to drive the demand for dietary supplements among adults.

The North American region dominates the dietary supplements market with the largest share in 2020.

North America is projected to hold the largest share in the dietary supplements market. This dominance is driven by the prevalence of chronic diseases due to the hectic lifestyles and increasing awareness among consumers regarding the health benefits of the product. Also, the region has the highest prevalence of obesity. According to the CDC, in the US, the obesity prevalence was 39.8% and affected about 93.3 million adults between 2015 and 2016. Such factors are projected to contribute to the growth of dietary supplements market.

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This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, Amway (US), Herbalife Nutrition (US), ADM (US), Pfizer (US), Abbott Laboratories (US), Arkopharma Laboratories (France), Bayer (Germany), Glanbia (Ireland), Nature’s Sunshine Products (US), FANCL (Japan), Danisco (Denmark), Bionova Lifesciences (India), XanGo (US), Ekomir (Russia), American Health (US), Pure Encapsulations (US), UST Manufacturing (US), Capstone Nutrition (US), Anona GmBH (Germany), Plantafood Medical GmBH (Germany).

Plant-based Meat Market to Record Steady Growth by 2025

The report "Plant-based Meat Market by Source (Soy, Wheat, Pea, & Other Sources), Product (Burger Patties, Strips & Nuggets, Sausages, Meatballs, & Other Products), Type (Beef, Chicken, Pork, Fish, & Other Types), Process, and Region - Global Forecast to 2025", According to MarketsandMarkets, the global plant-based meat market size is estimated to be valued at USD 4.3 billion in 2020. It is projected to reach USD 8.3 billion by 2025, recording a CAGR of 14.0% in terms of value. Growing vegan and flexitarian populations across the world, rising awareness about the health benefits offered by plant-based meat over animal meat, and growth in government initiatives along with significant investments are driving the global plant-based meat market.

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The soy segment accounted for the largest share in the plant-based meat market

Based on sources, soy dominated the plant-based meat market. Soy serves as an alternative to meat sources such as pork, beef, and chicken, owing to its high protein content. Traditionally, the consumption of soy and soy products is associated with the Asian population. However, the consumption of soy foods has recently risen in Western countries, owing to the increase in the adoption of vegetarian diets. Soy-based foods are cholesterol-free against animal protein foods and serve as a source of fibers, vitamins, and other essential nutrients. Plant-based meat producers are increasingly incorporating soy to make products such as burgers, meatballs, and sausages.

The chicken segment accounted for a significant share in the plant-based meat market

Based on type, chicken accounted for the second-largest dominating segment in the plant-based meat market. Various strips, nuggets, and burgers contain chicken meat as their major ingredient. The products developed by many food companies thus offer plant-based chicken in various forms such as strips, nuggets, cutlets, and burger patties, which is leading to the rising demand for plant-based chicken meat.

The strips & nuggets segment is projected to grow at a significant growth rate in the plant-based meat market during the forecast period

By product, the plant-based meat market is segmented into burger patties, strips & nuggets, sausages, meatballs, and other products such as slices, fillets, cutlets, slides, fingers, and crumbles. They are a healthier alternative to meat and are environmentally more sustainable, which is why more food manufacturers are developing plant-based meat products. Several start-ups are going mainstream with the launch of plant-based burgers, nuggets, sausage, meatballs, and other products. Impossible Foods Inc. (US) and Beyond Meat (US) were among the key players to enter the plant-based meat market. These companies are backed by various types of investors, including leading players such as Tyson Foods (US).

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The North American region is also expected to grow at the highest CAGR during the forecasted period

North America is the fastest-growing region in the global plant-based meat market. For American consumers, meat is a very prominent part of their diets. However, as many researches highlighted the health risks related to the consumption of red meat, consumers are increasingly shifting toward plant-based diets as they are a healthier option as compared to animal meat. Furthermore, Consumers in the region are adopting a flexitarian lifestyle and are incorporating plant-based foods in their daily routine diets. Along with this, the trend of veganism is gaining momentum in the region, which is further contributing to the growth of the plant-based meat market. Governments are also investing heavily in the plant-based protein industry, as there is a rise of vegan and vegetarian eating.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Beyond Meat (US), Impossible Foods Inc. (US), Maple Leaf Foods (Canada), The Vegetarian Butcher (Netherlands), Gardein Protein International (Canada), Morningstar Farms (US), Quorn Foods (US), Amy’s Kitchen (US), Tofurky (US), Gold&Green Foods Ltd. (Finland), Sunfed (New Zealand), VBites Food Limited (UK), Alpha Foods (US), Planterra Foods (US), Before the Butcher (US), No Evil Foods (US), Like Meat (Germany), The Meatless Farm Co. (England), Hooray Foods (US), and Yves Veggie Cuisine (Canada).