The Non-Meat Ingredients Market is being driven by Rising demand for plant-based products
The Non-Meat Ingredients Market is expected to grow at a CAGR of 4.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 11063.2 million. The non-meat ingredients market is experiencing substantial growth, with vendors introducing innovative solutions to enhance the quality and consumer appeal of plant-based alternatives. Notably, on September 28, 2023, Novozymes launched Vertera ProBite, a groundbreaking biosolution designed to improve the texture of plant-based meat products and streamline ingredient lists. Utilizing the enzyme MTGase, Vertera ProBite addresses common consumer concerns, providing a natural alternative to traditional texturizers. Approved as a processing aid, this innovation simplifies product formulations, increasing transparency and consumer trust. Additionally, on June 24, 2024, Loryma, a subsidiary of the Crespel and Deiters Group in Europe, introduced a wheat-based binder as a substitute for methylcellulose in vegan products, further expanding the range of options for manufacturers seeking to create high-quality, plant-based offerings.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Flavoring agents, Preservatives, Fillers, Coloring agents, Others) Application (Processed and cured meat products, Fresh meat products, Marinated and seasoned meat products, Ready-to-eat meat products, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Non-Meat Ingredients Market Research Report
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The Non-Meat Ingredients Market encompasses binders, plant-based alternatives, texturizing agents, flavoring agents, and preservatives used in processed meat substitutes and convenience foods. These ingredients offer time-saving solutions, improved texture, and flavor profile differentiation for vegetarian and vegan consumers. Brands strive for cost competitiveness while catering to consumer lifestyles with minimal preparation, marinated options, and ready-to-eat solutions. Processed products, fillers, extenders, and ground spices are essential components for quick meals, convenience foods, and premium products. Health consciousness and nutrition considerations influence market trends, with transparency in labeling and healthy habits becoming increasingly important. Fast food chains and meat consumption patterns also impact the market, with batter stability and slicing properties playing a crucial role in product development. Per-capita consumption and disposable income influence the demand for non-meat ingredients, with fresh meats and dry milk powder serving as key comparisons. Health concerns and meat substitutes continue to shape the market, with a focus on plant-based alternatives and extending the shelf life of processed products.
The global packaged foods and meats market encompasses businesses engaged in food processing to ensure food safety and increase product longevity. According to Technavio's market analysis, the size of this market is determined by the consolidated revenue of the participating vendors. Equipment manufacturers and producers of alcoholic and non-alcoholic beverages, including beverages with or without alcohol, are not included in this market. The market's expansion will be fueled by several factors, including the growing demand for food innovation, such as meat substitutes with unique textures, vegan food options, and future food solutions that cater to the trends of sustainable food, food science, healthy eating, and food sustainability. Minimally processed foods, like vegetables, are gaining popularity due to their nutritional benefits, which include an abundance of essential nutrients such as potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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