The global plant-based food ingredients market is projected to record a CAGR of 9.88% during the forecast period

Market Research Future has published a cooked research report on the Global plant-based food ingredients Market, 2022–2030. The global plant-based food ingredients market is projected to exhibit a CAGR of 9.88% during the forecast period of 2022 to 2030.

Market Highlights

The global plant-based food ingredients market is projected to be valued at 21,351.90 million by 2030, recording a CAGR of 9.88% during the forecast period. Few of the significant reasons for the growth of the global plant-based food ingredients market are the rising health consciousness among the consumers towards healthy eating habits. The growing prevalence of lactose intolerance among the population across the globe is leading to an increased demand for non-dairy products, This has increased the sales of plant-based milk and derivatives.

Market Research Future has recognized the following companies as the key players in the global plant-based food ingredients market: Ingredion Inc. (US), Archer-Daniels-Midland Company (US), DuPont de Nemours, Inc.  (US), Cargill Inc.  (US), Puris Proteins, LLC (US), BI Nutraceuticals, Inc. (US), Olam International (Singapore), SunOpta Inc.  (Canada), Döhler GmbH (Germany), and The Scoular Company (US).

Segmental Analysis

The global plant-based food ingredients market has been segmented based on source, category, application, and region.

By source, the market has been divided Soy, Pea, Rice, Almond, Cashew, Oats, Coconut and others. The soy segment accounted for the largest market share of 19.56% in 2020. The pea segment was valued at USD 1,464.2 million in 2020; it is projected to exhibit the highest CAGR of 10.43%.

In terms of the category, the Global Plant-Based Food Ingredients Market has been classified as conventional and organic. The conventional segment accounted for the larger market share of 73.55% in 2020. The organic segment was valued at USD 2,924.3 million in 2020; it is projected to exhibit the higher CAGR of 10.28%.

Based on application, the Global Plant-Based Food Ingredients Market has been segmented into Plant-based milk & derivatives, Bakery & Confectionery, Sweet & Savory Snacks, Meat Substitutes, RTE & RTC Meals and Others. The plant-based milk & derivatives segment accounted for the largest market share of 44.11% in 2020. The meat substitutes segment was valued at USD 1,786.5 million in 2020; it is projected to exhibit the highest CAGR of 10.27%..

Regional Analysis

On the basis of region, the Global Plant-Based Food Ingredients Market has been divided into North America, Europe, Asia-Pacific and Rest of the world. As per MRFR analysis, Europe constituted a dominant share of the plant-based food ingredients market in 2020. Europe accounted for the largest market share of 35.37% of the plant-based food ingredients market in 2020. The demand for plant-based food ingredients in the region is growing at an exponential rate. Increasing consumer preference towards organic and genetically modified (GM) free supply chains combined with an increasing number of flexitarians, vegetarian and vegan diets are anticipated to boost the demand for the plant-based food ingredients market in Europe. The North America market is expected to register 9.67% CAGR during the forecast period. The increasing demand for plant-based food ingredients products in the region is attributed mainly to the rise in demand for nutritional foods and healthy diets.  The concept of veganism and plant-based diet interest and enthusiasm is growing across North America. According to MRFR analysis, more than 9.5 million individuals in the US currently consume plant-based food products. Asia-Pacific is expected to be an attractive regional market for producers of plant-based food ingredients during the review period.  The region accounted for 24.20% of the plant-based food ingredients market in 2020 and is further projected to register the highest CAGR 10.14% during the forecast period, 2022–2030

Key Findings of the Study:

• The global plant-based food ingredients market is projected to register a growth rate of 9.88% from 2022 to 2030.


• The soy segment accounted for the largest market share of 19.56% in 2020 whereas the pea segment is projected to record a CAGR of 10.43% during the forecast period.


• The conventional segment accounted for the largest market share of 55% in 2020 and is expected to grow at a rate of 9.73% during the forecast period.


• The plant-based milk & derivatives segment accounted for the largest market share of 44.11% in 2020, whereas the meat substitutes segment is estimated to register the highest growth rate of 10.27% during the forecast period.