Plant-Based-Meat Market Definition And Segments

Plant-based meat is meat that is prepared from plants and is similar to conventional meat in appearance and taste. The plant-based meat is produced using ingredients such as wheat gluten, lentils, yuba, tofu, soybeans, and a variety of nuts. The main product types of plant-based meat are burger patties, sausages, strips, nuggets, meatballs, and other product types. Sausage is a meat product made of finely chopped and seasoned meat that can be fresh, smoked, or pickled and which is then usually stuffed into a casing. The various sources of plant-based meat are soy, wheat, pea, and other product types. The plant-based meat products are distributed through grocery stores, food and beverage specialty stores, convenience stores, restaurants, and online stores. The plant-based-meat market covered in this report is segmented – 1) By Product Type: Burger Patties, Sausages, Strips, Nuggets, Meatballs, Other Product Types 2) By Source: Soy, Wheat, Pea, Other Sources 3) By Distribution Channel: Grocery Stores, Food & Drinks Specialty Stores, Convenience Stores, Restaurants, Online Stores The plant-based-meat market size has grown rapidly in recent years. It will grow from $8.5 billion in 2023 to $9.94 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to growth plant-based ingredients, changing dietary preferences, health and environmental consciousness, retail expansion and availability, global culinary influences. The plant-based-meat market size is expected to see rapid growth in the next few years. It will grow to $17.23 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to rising concerns about animal welfare, culinary integration in restaurants, government initiatives and regulations, climate change mitigation efforts, expansion of product portfolio. Major trends in the forecast period include technological advancements in production, technological advancements in plant-based alternatives, expansion of product offerings beyond burgers, collaborations and partnerships with foodservice chains, focus on health and nutrition.

Growing Consumer Awareness Of Vegetarian Diets Drives Demand For Plant-Based Meat

Increasing consumer awareness associated with the benefits of vegetarian diets is projected to contribute to the growth of the plant-based meat market. The vegetarian diet offers various benefits, such as low insulin levels, a decreased rate of heart disease, and improved kidney functions. According to the International Food Information Council survey in August 2021, a US-based non-profit organization for a non-profit organization for food, beverages, and agriculture, Over the past year, the majority of Americans have eaten plant-based meat substitutes, with 2 in 5 doing so on a daily or weekly basis, which Top motives for choosing plant-based substitutes are their healthfulness and availability as a source of high-quality protein. Moreover, rising consumer awareness of animal rights through global welfare organizations such as animal aid unlimited (AAU) and people for the ethical treatment of animals (PETA) is to boost the demand for plant-based meat products, which in turn, is predicted to uptake the revenues of plant-based meat market over the forecast period.

Increasing Food And Beverage Industry Drives Growth In The Plant-Based Meat Market

The growth of the food and beverage service industry is expected to propel the growth of the plant-based meat market going forward. The food and beverage service industry encompasses a wide range of businesses and establishments, such as restaurants, involved in preparing, serving, and delivering food and drinks to consumers. Plant-based meat products are increasingly being used in the food and beverage industry as a popular alternative to traditional animal-based meat. It mimics the taste, texture, and appearance of meat while being entirely derived from plant sources. For instance, in August 2023, according to an article by USA Today, a US-based news broadcasting company, the U.S. restaurant industry made $898 billion in sales in 2022, which is an extra $166.5 billion from 2021 sales. Therefore, the growth of the food and beverage service industry is driving the growth of the plant-based meat market. Major companies operating in the plant-based-meat market report are Abbots Laboratories Inc., Kraft Heinz Company Inc., Maple Leaf Foods Inc., Morningstar Farms Inc., Amy’s Kitchen Inc., Beyond Meat Inc., Impossible Foods Inc., Quorn Foods Inc., Greenleaf Foods LLC, Don Lee Farms Inc., The Vegetarian Butcher LLC., Sweet Earth Inc., LightLife Foods Inc., Atlantic Natural Foods Inc., Gardein Inc., Ojah BV, Tofurky Inc., The Very Good Food Company Inc., Next Level Burger LLC., Gold&Green Foods Ltd., Gold&Green Foods Ltd Oy, Hungry Planet Inc., Monks Meats Inc., No Evil Foods Inc., Ocean Hugger Foods Inc., Sophie's Kitchen Inc., Yves Veggie Cuisine Inc., VBites Inc., Dr. Praeger’s Inc., Good Catch Foods Inc.

High Prices Of Plant-Based Meat Products Pose Challenges To Market Growth

The high prices of plant-based meat products in comparison with regular meat products is a major restraint on the growth of the plant-based meat market. The major players dealing in plant-based meat products are beyond burgers and impossible burger. At Whole Foods, an America-based multinational supermarket chain, the retail price of beyond burger is USD 12 a pound, whereas regular ground beef burger costs less than half i.e. USD 5 a pound. Thus, the differences in the prices of plant-based meat products and regular meat products are predicted to hinder the growth of the market over the upcoming years.

Innovation Flourishes As Companies Introduce Novel Plant-Based Meat Products

The increasing launch of new brands and products, such as those that are made from plant-based meat, is a major trend in the plant-based meat market. Plant-based meat products are food items that are designed to replicate the taste, texture, and appearance of traditional animal-derived meat products but are made entirely from plant-based ingredients. For instance, in July 2022, Tata Consumer Products, an India-based fast-moving consumer goods company, launched a new brand, Tata Simply Better, which offers a range of plant-based meat products in India. The company is expanding its product line into a new category, targeting consumers who are looking to incorporate more plant-based options into their diets.

Strategic Partnerships Fuel Growth In Plant-Based Meat Market

Major companies operating in the plant-based meat market are undergoing partnerships to unlock new categories and product lines. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in March 2022, Beyond Meat Inc., a US-based food company, partnered with PepsiCo Inc., a US-based food company. With this partnership, the companies aim to introduce Beyond Meat Jerky, marking their collaborative venture. The product, known as The Joint, is a plant-based jerky made with Beyond Meat's innovative protein technology. It aligns with both companies' commitment to sustainable and delicious plant-based food options, catering to the growing demand for meat alternatives in the market.

JBS SA Expands Into The Plant-Based Market With $410 Million Acquisition Of Vivera

In April 2021, Brazilian-based JBS SA, a meat processing company, announced that it would acquire Vivera, a European plant-based food company, for €341 million ($410 million). The deal includes three manufacturing facilities and a research and development center located in the Netherlands. This acquisition is an important step to strengthen JBS SA's global plant-based protein platform. For the same reason, Vivera will give JBS a stronghold in the plant-based sector, with technological knowledge and capacity for innovation. Vivera produces a range of plant-based meat replacement products, and these products are distributed to retailers in more than 25 countries across Europe. Asia-Pacific was the largest region in the plant-based meat market in 2023. Western Europe was the second-largest region in the global plant-based-meat market. The regions covered in the plant-based-meat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plant-based-meat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The plant-based meat market consists of sales of products in the form of a burger patty, crumbles, nuggets, sausages, and other plant-based meat products. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The plant-based meat research report is one of a series of new reports from The Business Research Company that provides plant-based meat statistics, including plant-based meat industry global market size, regional shares, competitors with plant-based meat share, detailed plant-based meat segments, market trends and opportunities, and any further data you may need to thrive in the plant-based meat industry. This plant-based meat research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Tea Pods Market Definition

The tea pod is a tea that is sealed inside filter paper and is brewed using specially designed pod brewers. The tea pods are available in various flavors such as Iemon zinger, mandarin orange spice, and snapple diet peached iced tea. The popular tea pods available in the market are K-Cups, gourmet tea pods, and paper tea pods. The main types of tea pods are soft tea pods and hard tea pods. A soft pod is a teabag that is sealed inside filter paper and has a round, flat shape, that is usually soft and pliable. The main distribution channels for tea pods are supermarkets and hypermarkets, independent retailers, convenience stores, and specialist retailers. The various tea types are green tea, black tea, herbal tea, and others.

Tea Pods Market Segmentation

The tea pods market covered in this report is segmented – 1) By Type: Soft Tea Pods, Hard Tea Pods 2) By Tea Type: Green Tea, Black Tea, Herbal Tea, Other Tea Types 3) By Channel: Supermarkets and Hypermarkets, Independent Retailers, Convenience Stores, Specialist Retailers

Vegan Food Market Definition

Vegan foods are foods that are produced without the use of animal ingredients or animal-derived ingredients. The main product substitute of vegan food are dairy alternative, meat substitute, other product substitutes. Dairy alternatives are products that are used as substitutes for dairy products, such as milk, cheese, and butter. The source are wheat, soy, oats, almond, other sources, that are distributed online and offline.

Vegan Food Market Segmentation

The vegan food market covered in this report is segmented – 1) By Product Substitute: Dairy Alternative, Meat Substitute, Other Product Substitutes 2) By Source: Wheat, Soy, Oats, Almond, Other Sources 3) By Distribution Channel: Online, Offline

Organic Meat Products Market Definition And Segments

Organic meat products are defined as food products that are slaughtered and used for human consumption by processing and preserving organic meat by smoking, salting, fermenting, or adding any chemicals. Organic animals are fed organic feed or a non-synthetic diet and are raised in an open environment protected from climatic extremities. The use of growth-promoting medicines and substances, antibiotics, and growth hormones is prohibited in animal husbandry. Organic meat is consumed in various food processing units, restaurants, eateries, animal compounds, and households. The main product types are beef, pork, mutton, poultry, and others. Beef is a type of meat from cattle and is exceptionally rich in high-quality protein, vitamins, and minerals. Organic meat products are available chilled, frozen, and canned/preserved. The organic meat products are distributed through super/hyper markets, online retailers, meat shops, health and natural food stores, and others. The organic meat products market covered in this report is segmented – 1) By Product Type: Beef, Pork, Mutton, Poultry, Other Product Types 2) By Type: Chilled, Frozen, Canned/Preserved 3) By Distribution Channel: Super/hyper market, Online Retailers, Meat Shop, Health and natural food stores, Other Distribution Channels The organic meat products market size has grown strongly in recent years. It will grow from $16.57 billion in 2023 to $17.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growth in health and wellness trends, ethical and sustainable practices, clean label movement, consumer concerns about conventional farming, increased availability and accessibility. The organic meat products market size is expected to see strong growth in the next few years. It will grow to $22.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to continued focus on health and nutrition, growing environmental awareness, regulatory support for organic farming, expansion of organic farming practices, and rise of plant-based alternatives. Major trends in the forecast period include health and wellness attributes, e-commerce and direct-to-consumer channels, regenerative agriculture practices, customization and specialty cuts, educational initiatives and consumer awareness.

Growing Consumer Preference For Organic Meat Products Drives Market Demand

The increasing inclination of consumers towards organic products is anticipated to boost the demand for the organic meat products market. This can be attributed to the growing health concerns among consumers and increasing awareness about the health benefits associated with the consumption of organic products. For instance, in June 2022, according to the current Organic Trade Association (OTA) Organic Industry Survey, customers will return to more stable, buy-as-you-need shopping patterns in 2021. Organic sales exceeded $63 billion between 2020 and 2021, with a $1.4 billion (2 %) year-on-year increase. Therefore, the demand for organic food has gained importance in recent years, and the rising demand for organic food is projected to drive the demand for organic meat products market over the forecast period.

Rising Consumption Of Meat Products

Increasing consumption of meat products is expected to propel the growth of the organic meat products market going forward. Meat products are products that can be used as human food and are created entirely or partially from the meat or other parts of an animal's carcass. Organic meat products have the potential to enhance meat consumption in a sustainable fashion by increasing the availability of food and potentially reducing world hunger. Additionally, the rising trend of protein consumption has favored the increased consumption of meat products. For Instance, in December 2021, according to a report published by the United States Department of Agriculture, a US-based organization for farming, forestry, rural economic development, and food, total per capita consumption of red meat and poultry was 224.1 pounds in 2020 and is projected to increase to 226.9 pounds by 2023. Furthermore, according to the Food and Agriculture Organization (FAO), an Italy-based organization dedicated to improving nutrition and food security, global meat consumption is expected to increase by 15% by 2031 due to population growth, and protein availability from poultry, pork, beef, and sheep meat is expected to increase by 16%, 17%, 8%, and 16%, respectively, by 2031. Therefore, the increasing consumption of meat products will drive the cultivated meat market. Major companies operating in the organic meat products market report are Verde Farms LLC, JBS S.A., Tyson Foods Inc., Eversfield Organic Foods Ltd., Pilgrim's Pride Corporation, Coolanowle Organics Limited, Aurelian Organic Meat Supplier Group Ltd., Danish Crown A.m.b.a., Leverandørselskabet Danish Crown A.m.b.a, Perdue Farms Inc., Foster Farms, Strauss Brands Inc., Well Hung Meat Company Ltd., Bell & Evans Inc., Niman Ranch Inc., Riverford Organic Farmers Ltd., Arcadian Company Limited, Applegate Farms LLC, DuBreton Farms Inc., Meyer Natural Foods Inc., White Oak Pastures Inc., Organic Valley, Joyce Farms, Blackwing Quality Meats LLC, OBE Organic Ltd., Neat Meat Company Inc., Blue Nest Beef LLC, Maple Hill Creamery LLC, Tendergrass Farms, Swellington Organic Farm Ltd., Nature's Rancher Inc., Thousand Hills Lifetime Grazed Beef LLC, Kadejan Food Group, Mary's Chicken, Gunthorp Farms

Challenges Of High Prices In The Organic Meat Products Market

The prices of organic meat products are comparatively higher than those of conventional meat products, and this factor is likely to hinder the growth of the market. The premium price reflects the higher prices involved in raising livestock in an organic system without the use of any synthetic chemicals, antibiotics, or growth hormones. The organic meat production process is expensive, takes more time, and is labor-intensive. Additionally, producers impose price premiums on the 'on-demand' products to gain an advantage. However, the price premium often decreases the affordability of organic food products, thus hindering the market's growth.

Innovation With New Organic Meat Products To Cater To Consumer Preferences

Major players operating in the organic meat products market are launching new innovative products to meet the consumer's requirements for taste preferences and healthy eating. For instance, in May 2022, Aldi Suisse, a Switzerland-based retail trade company, launched new organic brand "retour aux sources”. This dairy product is derived from antibiotic-free animal husbandry. It involves pasture and loose housing, as well as species-appropriate concentrate-free feeding with meadow and pasture food.

Innovation In Meat Extract Products

Major companies operating in the meat extract sector focused on products innovations to bring new methods and procedures for producing meat extract and increasing its applications. For instance, in June 2021, Essentia Protein Solutions, a US-based protein solutions company, developed C3307 Chicken Flavor, which is higher in protein, lower in carbohydrates, and has no added salt. This chicken flavor is ideal for low-sodium applications that demand a strong chicken flavor. C3307 allows developers to achieve lower salt constraints while still delivering tasty, full-bodied chicken flavors in their completed goods.

Preval Ag Expands Portioned Meats Portfolio With Acquisition Of J&G Foods

In December 2021, Preval AG, a Canada-based Agri food company, acquired the assets of J&G foods for an undisclosed amount. With the acquisition of J&G foods, Preval AG will increase its portioned meats protein product offerings and sell its products to retail and food service clients. J&G foods is a US-based provider of custom and organic meat. Asia-Pacific was the largest region in the organic meat products market in 2023. North America was the second-largest region in the global organic meat products market. The regions covered in the organic meat products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the organic meat products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The organic meat products market consists of sales of organic pork meat, organic mutton meat, organic beef meat, organic chicken meat, organic turkey meat, organic ducks meat, organic crustaceans meat, organic fish meat, and other organic meat. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The organic meat products market research report is one of a series of new reports from The Business Research Company that provides organic meat products market statistics, including organic meat products industry global market size, regional shares, competitors with organic meat products market share, detailed organic meat products market segments, market trends and opportunities, and any further data you may need to thrive in the organic meat products industry. This organic meat products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Organic Tea Market Definition

The organic tea market comprises sales of organic tea products. The market consists of revenue generated by establishments manufacturing organic tea products. Organic tea is a very popular beverage prepared using buds and boiled leaves obtained from Camellia Sinensis. It is free of herbicides, pesticides, and synthetic fertilisers and has antioxidant properties. The main types of organic tea are green tea, black tea, white tea, oolong tea, herbal tea, and others. Green tea is a type of tea that is made from unoxidized leaves and is one of the least processed types of tea. The various products are paper pouches, cans, cartons, tea bags, and others, and the forms of organic tea are dried leaves, liquid, powder, and others. The distribution channels are hypermarkets and supermarkets, convenience stores, online, specialty stores, and others.

Organic Tea Market Segmentation

The organic tea market covered in this report is segmented – 1) By Type: Green Tea, Black Tea, White Tea, Oolong Tea, Herbal Tea, Other Types 2) By Form: Dried Leaf, Liquid, Powder, Other Forms 3) By Product: Paper Pouches, Cans, Cartons, Tea Bags, Other Products 4) By Distribution Channel: Hypermarkets/Supermarkets, Convenience Stores, Online, Specialty Stores, Other Distribution Channels

Organic Coffee Market Definition

Organic coffee is defined as coffee that is produced without the use of synthetic fertilizers or chemicals. The main types of organic coffee are fair trade coffee, gourmet coffee, espresso coffee, and coffee pods. A Fair Trade-certified coffee is a coffee that has been audited throughout the supply chain to meet certain sustainability and labour standards. The origins of coffee are arabica and robusta. The various roasts are light, medium, and dark. The distribution channels of these products are supermarkets and hypermarkets, convenience stores, specialist retailers, and others, and the end-users are household and commercial.

Organic Coffee Market Segmentation

The organic coffee market covered in this report is segmented – 1) By Origin: Arabica, Robusta 2) By Roast: Light, Medium, Dark 3) By Type: Fair Trade Coffee, Gourmet Coffee, Espresso Coffee, Coffee Pods 4) By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Other Distribution Channels 5) By End-user: Household, Commercial

Coffee Pods Market Definition

The coffee pod is a biodegradable paper pouch with ground coffee sealed inside that is brewed using specially designed pod brewers. The coffee pods market covered in this report is segmented by product into soft coffee, hard coffee. Soft coffee has a mellow, well-rounded flavour with neither harshness nor acidity. It is also segmented by roast type into dark, medium, and light, and by caffeine content into regular, decaffeinated.

Coffee Pods Market Segmentation

The coffee pods market covered in this report is segmented – 1) By Product: Soft Coffee, Hard Coffee 2) By Roast Type: Dark, Medium, Light 3) By Caffeine Content: Regular, Decaffeinated

Functional Foods Market Definition And Segments

Functional foods are highly nutritious foods that are associated with many health benefits. The benefits include prevention of nutrition deficiencies, protection against diseases, improved cholesterol levels, lower blood pressure, and promotion of proper growth and development. The main product types are bakery and cereals, dairy products, meat, fish and eggs, soy products, fats and oils, and other product types. A dairy product is milk and any of the foods made from milk, including butter, cheese, ice cream, yogurt, and condensed and dried milk. The ingredients used for functional foods are carotenoids, dietary fibers, fatty acids, minerals, prebiotics, probiotics, vitamins, and other product types. The various applications of these food products are sports nutrition, weight management, immunity, digestive health, clinical nutrition, cardio health, and other product types. The functional foods market covered in this report is segmented – 1) By Product Type: Bakery & Cereals, Dairy Products, Meat, Fish & Eggs, Soy Products, Fats & Oils, Other Product Types 2) By Ingredients: Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins, Other Ingredients 3) By Application: Sports Nutrition, Weight Management, Immunity, Digestive Health, Clinical Nutrition, Cardio Health, Other Applications The functional foods market size has grown rapidly in recent years. It will grow from $251.66 billion in 2023 to $282.11 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increasing health awareness, aging population, preventive healthcare trend, scientific research and nutritional advancements, rising incidence of lifestyle diseases. The functional foods market size is expected to see rapid growth in the next few years. It will grow to $421.65 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to changing dietary patterns, personalized nutrition trends, expanding middle-class population, focus on gut health, clean label and natural ingredients. Major trends in the forecast period include advancements in food technology, rising consumer awareness of health and wellness, emphasis on gut health, innovation in ingredients and formulations, digitalization of nutrition and personalized diets.

Rising Disease Rates Drive Demand For Functional Foods: A Focus On Health And Prevention

The increasing number of diseases is shifting consumers' focus to healthy eating, which in turn is projected to boost the demand for functional foods. Functional food provides the human body with healthy nutrition, vitamins and minerals, and reduces the risk of diseases. According to the Centers for Disease Control and Prevention, heart disease is a leading cause of death in the USA, and about 6, 47, 000 Americans die from heart disease every year, which is one out of every four deaths. Therefore, the increasing number of cardiovascular and other diseases across the globe is anticipated to generate higher demand for a healthy diet, which in turn, is likely to propel the revenues of the functional food market over the forecast period.

Rising Demand For Nutrient-Rich Foods Fueling Growth In The Functional Foods Market

The rising demand for nutrient-rich foods is expected to propel the growth of the functional foods market going forward. Nutrient-rich foods refer to those that provide a high concentration of essential nutrients relative to their calorie content. Functional foods are preferable to nutrient-rich foods as they offer vital nutrients including vitamins, minerals, healthy fats, and fiber, which are crucial for preserving good health and lowering the risk of chronic diseases. For instance, in June 2022, according to the United States Department of Agriculture, a US-based government agency, the amount spent on domestic food and nutrition assistance programs run by the USDA in 2021 was at a record high of $182.5 billion, up 43% over the previous record high, adjusted for inflation, of $127.5 billion set in 2020. Therefore, the rising demand for nutrient-rich foods is driving the functional foods market. Major companies operating in the functional foods market report are Nestlé Alimentana SA, BASF SE, PepsiCo Inc., Unilever PLC, Abbott Laboratories, The Coca-Cola Company, GlaxoSmithKline Company, Mondelez International Inc., Danone SA, Kraft Foods Inc., General Mills Inc., Royal FrieslandCampina NV, Kellogg Company, Kirin Holdings Company Ltd., Dr PepperSnapple Group Inc., Red Bull GmbH, Ajinomoto Co. Inc., Meiji Holdings Company Ltd., Givaudan SA, Glanbia PLC, Barilla Holding SpA, Arla Foods UK PLC, Ocean Spray Cranberries Inc., Sanitarium Health and Wellbeing Company, Raisio Oyj, Lifeway Foods Inc., GFR Pharma Ltd., BNL Food Group Inc., Suiza Foods Corporation, Murray Goulburn Co-Operative Co. Limited

Price Constraints On Functional Food Market Growth: Impact Of Healthier Ingredients And Natural Components

The higher price of functional food products attributed to the inclusion of healthier or natural ingredients is limiting the growth of the functional food market. Functional foods are sold at higher prices and hold larger profit margins than conventional foods. Functional foods are priced 30 to 500% higher than comparable conventional foods. Thus, the higher prices of functional food are to act as a major restraint for the growth of the functional food market over the forthcoming years.

Recent Innovations And Market Expansion Strategies In The Functional Food Industry

Key players dealing in the functional food market are increasingly focusing on new product developments and company expansion to meet the rising demand from consumers. For instance, in January 2022, Fonterra Co-operative Group Limited, a New Zealand-based dairy company, Tillamook Country Creamery Association (TCAA), and Three Mile Canyon Farm, introduced Pro-Optima, an A-grade functional whey protein concentrate. Pro-Optima can be used in cultured products such as yogurt to enhance the textures and deliver multi-functional benefits.

Merit Functional Foods Launches Usda-Certified Organic Pea Protein Component

Major companies operating in the functional foods market are focusing on developing innovative products, such as new plant ingredients, to strengthen their position in the market. Plant ingredients refer to substances derived from plants that are used in various applications, such as food, cosmetics, pharmaceuticals, and more. For instance, in December 2022, Merit Functional Foods, a US-based manufacturer of high-purity proteins, launched the Organic Peazazz C 850, the first United States Department of Agriculture (USDA)-certified organic protein component. The new ingredient is planned to satisfy the rising demand for plant-based protein sources and provide a premium replacement for current protein sources. It is a highly pure pea protein with superb flavor and solubility. It can be used in a wide range of products, such as beverages, protein bars, and dairy substitutes.

Kerry Group Expands Health Ingredients Portfolio With $150 Million Acquisition Of Biosearch Life

In July 2021, Kerry Group, an Ireland-based food company, acquired Biosearch Life for a deal of $150 million. Through this acquisition, Kerry Group aims to expand its product portfolio of health ingredients such as probiotics and omega-3s. Biosearch Life is a Spain-based biotechnology company. Asia-Pacific was the largest region in the functional food market in 2023. Western Europe was the second-largest region in the global functional foods market. The regions covered in the functional foods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the functional foods market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The functional food market consists of sales of fatty acids, carotenoids, prebiotics & probiotics, vitamins, dietary fibers, minerals, and other functional foods. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The functional food research report is one of a series of new reports from The Business Research Company that provides functional food statistics, including functional food industry global market size, regional shares, competitors with functional food share, detailed functional food segments, market trends and opportunities, and any further data you may need to thrive in the functional food industry. This functional food research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.