Northbrook, IL 60062 -- (SBWire) -- 10/13/2023 --The non-meat ingredients market, valued at USD 36.6 billion in 2021, is projected to reach USD 46.7 billion by 2027, with a steady CAGR of 4.2% during the forecast period. The market's growth is driven by the use of functional non-meat ingredients, which play a crucial role in enhancing processed meat products, providing unique properties and effects. These ingredients, such as binders, extenders, fillers, coloring and flavoring agents, salts, and preservatives, contribute significantly to the quality and distinctiveness of processed meats.
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Meat processing plants have increasingly embraced the usage of these functional non-meat ingredients in their operations. With the rising demand for processed meat products, their adoption has become integral to ensure efficient production and maintain product quality. Moreover, these ingredients serve multiple roles, and even slight modifications in their quantities can significantly impact the characteristics of the end products.
However, the market faces challenges due to the growing vegetarian and vegan population, particularly in regions such as the US, Canada, the UK, and Australia. The increasing popularity of veganism has led to a shift in dietary preferences, presenting limitations for the non-meat ingredients market. Overcoming these challenges necessitates addressing cultural and socio-economic factors affecting the accessibility of plant-based food options.
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As of 2021, the Asia-Pacific region leads the non-meat ingredients market, accounting for 36.9% of the global market share. This dominance can be attributed to the region's extensive meat production and consumption of non-meat ingredients in various food applications, reflecting a high demand for these products.
Key market players, including Kerry Group, Dow, Associated British Foods plc, Wiberg GmbH, Essentia Protein Solutions, Advanced Food Systems, Ingredion, and ADM, continue to drive innovation and development in the non-meat ingredients sector, contributing to the market's growth and expansion.
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Non-Meat Ingredients Market Report: Growing to $46.7 Billion by 2027
Non-Meat Ingredients Market by Ingredient (Binders, Extenders, Fillers, Coloring & Flavoring Agents, Salts & Preservatives), Type (Beef, Pork, Mutton, Poultry), Product, source (plant, chemical, animal ) & Region - Forecast to 2027