Plant-based Ingredients: Market Outlook
Ingredients are certain type of mixtures that are added to the food products and beverages. There are many commercial products which contain secret ingredients for example, PepsiCo has a secret ingredient in order to develop the aerated beverages. There are ingredients which can be used in the pharmaceuticals and cosmetics.
There are stringent laws in which the packaged and prepared foods should display all the ingredients that are added to the product. There are various types of ingredients available such as artificial ingredients, flavoring, food additives, natural ingredients, preservatives, and others. Artificial ingredients are those which have certain artificial mixtures and chemical composition in it, while the natural ingredients are those which are obtained from natural sources such as plants.
Plant-based food and beverages are the growing trend in every region. It consists of natural ingredients which are sourced from the plants and plant parts such as flowers, stem, roots, and buds. These plants and plant parts are used in the food and beverage as the key ingredient for various health benefits.
Plant-based ingredients have been used by the consumers for a long time, but the evolution of various artificial ingredients impacted a slow growth in plant-based ingredients. After many years, the growing trend in every region is the incorporation of plant-based ingredients in the food products. The growing demand in the number of people from various regions have taken a great interest in their well-being and health. This trend is expected to create a great potential for the plant-based ingredients market, throughout the forecast period.
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Plant-based Ingredients and its Properties
The current trend in the year 2018 was the usage of plant-based ingredients in various food products and beverages, with a growing sales of the current products which has plant-based ingredients and is expected to have more product launches. In U.K., U.S., and Germany there are around 200 Mn flexitarion consumers present, who actually avoid animal-based once a week. There are various researches that which support that the consumers over the world consider plant-based ingredients as a positive dietary choice.
A decade ago, the concept of vegan was started in order to preserve the animal sources and for animal welfare. In early 2000, the concept of plant-based ingredients and additives were launched for the vegan community. These plant-based ingredients will help mimic the mouth feel, texture and appearance of the meat products. With the response of animal welfare, the more new ethical farming methods were implemented. The plant-based ingredients have various certifications such as gluten-free, kosher certified, vegan, and non-GMO.
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Global Plant-based Ingredients Market: Segmentation
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Global Plant-based Ingredients Market: Market Participants
Some of the market participants operating in the global plant-based ingredients market identified across the value chain include Axiom Foods, RFI Ingredients, Greenleaf Foods, Plant Based Foods, Cargill, Incorporated, Frutarom, Ingredion Incorporated, International Agriculture Group, Lessaffre Human Care, Naturex, Mazza Innovation, Indena, among the other plant-based ingredients manufacturers.
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Key Developments in the Plant-based Ingredients Market
In the year 2017, The Silicon Valley innovator collaborated with various food companies and food investors to bring its plant-based ingredients to market and has raised US$24.7 million in funding and received its first patent for the use of animal-free dairy proteins in food applications.
???????Opportunities for Participants in the Plant-based Ingredients Market
There are certain new innovations in the industry that will create various opportunities for the manufacturers of plant-based ingredients. The increasing number of health conscious consumers and vegan consumers in the world, will eventually create a high demand for plant-based ingredients. Creating a proper awareness among the consumers regarding plant-based ingredients will have a positive impact in the market.
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