Functional Non-Meat Ingredients Market

Functional Non-Meat Ingredients Market - An Overview

The global functional non-meat ingredients market is expected to witness strong growth during the forecast period between 2021 and 2031.

For several years, functional non-meat ingredients are obtained from animal and plant sources, but in the last few years, these products have been produced synthetically, as well.

Functional non-meat ingredients have witnessed increased demand from meat processing industry. Few key reasons behind the surge in demand are improving meat quality, increasing need to improve appearance, and growing demand for meat binding.

Functional non-meat ingredients are rich in polyunsaturated fatty acids and protein content and as a result, have witnessed high demand from health-conscious population.

Functional Non-Meat Ingredients Market - Trends and Opportunities

Increasing consumer demand for processed food products is the key growth driver for global functional non-meat ingredients market.

Also, rising health-conscious population in leading economies globally is expected to positively impact demand for functional non-meat ingredients and help create revenue-generating opportunities for prominent players, in the coming years.

In addition to this, growing awareness to consume nutritional food products could help increase product demand in the coming years and help augment the growth in functional non-meat ingredients market.

Other factors such as rapid urbanization, especially in developing countries and rising disposable income could also contribute to growth in overall functional non-meat ingredients market, in the years ahead.

Extenders ingredients segment is expected to emerge as largest revenue contributor to overall market in future. Increasing consumer demand for products rich in protein content is expected to fuel the demand for extenders, which contain increased amounts of protein, in future.

Beef product segment is projected to emerge as largest contributor, in terms of revenue, in the coming years. A key reason behind the increase in product demand could be the increasing disposable income among families, especially in developing economies.

Functional Non-Meat Ingredients Market - Competitive Landscape

The competitive landscape in global functional non-meat ingredients market is fragmented due to presence of several prominent players. Many of these players are expected to account for a large share in overall market, in the years ahead.

Launch of new products could help leading functional non-meat ingredients market players gain a competitive edge over other players and help create revenue-generating opportunities for these players.

Essential Protein Solutions, in June 2020, launched new functional hybrid product which comprises functional pork and pea protein content.

R&D undertakings could be key, revenue-generating growth strategy for well-established market players, in the years ahead.

Other strategies such as collaboration with smaller players could help prominent functional non-meat ingredients market players in expanding their market presence and increasing their revenue shares.

Some of the leading players in global market include Kerry Group PLC, Du Pont, Wenda Ingredients, General Mills, and Redbrook Ingredient Services Limited.

Functional Non-Meat Ingredients Market - Regional Assessment

The global functional non-meat ingredients market is classified into four regions, namely, North America, Asia Pacific, Europe, and rest of the world.

North America is expected to emerge as dominant region in global functional non-meat ingredients market because of rising consumption of processed meat in countries such as the U.S. and Canada.

Europe is anticipated to witness substantial growth in global market in the coming years owing to rising consumer demand for nutritious food products at affordable costs in countries such as UK and Germany.

Asia Pacific is projected to witness strong growth in overall market in future because of rapid urbanization witnessed in countries such as India, contributing significantly to market growth in the region.

The rest of the world is expected to witness moderate growth in global functional non-meat ingredients market, in the coming years.