New York, Oct. 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Non-Meat Ingredients Market Size, Share & Industry Trends Analysis Report By Ingredient, By Meat Type, By Product Type, By Regional Outlook and Forecast, 2022-2028” – https://www.reportlinker.com/p06352750/?utm_source=GNW
Non-meat components are classified into those added to improve the functionality and performance of the muscle proteins as well as those added to help in the retention of water and alter the texture. Non-meat components are derived from plants and animals, are synthetically produced, and are intended to extend the shelf life of food products they are combined with.
Non-Meat Ingredients are sourced from animals and plants and synthesized in laboratories. Non-meat additives decrease the cost of creating processed meat products. A rise in the per capita consumption of processed meat and meat products has led to an increase in the demand for Non-meat Ingredients. The increasing population, growing consumption of meat-based products, and the relevance of additives in the production of meat products have led to a boom in the Non-Meat Ingredients Industry.
The convenience and simplicity of preparation given by meat products that are processed with non-meat substances have contributed to their rising appeal. To meet the ever-increasing demands for processed beef products, processing businesses are implementing a variety of production-boosting strategies. The utilization of non-meat ingredients throughout meat preparation is one such way.
COVID-19 Impact Analysis
The COVID-19 pandemic has impacted the global supply chain. The non-meat ingredients market has been significantly impacted by the scarcity of raw materials as well as the reduction of the labor force. Countries around the world have imposed limitations on the movement of people and products, resulting in reduced delivery, an increased number of bottlenecks, and other logistical challenges that hinder the expansion of the non-meat ingredients market. However, changes brought by the outbreak of the coronavirus in the Non-Meat Ingredients supply chain and alterations in consumer behavior requires businesses to be more forward and forward-thinking in order to remain competitive.
Market Growth Factors
Rising Health Consciousness and Increasing Technological Advancements in the Industry
The market is likely to be driven by the expanding population and rising demand for convenience foods. Increased consumer knowledge of the health advantages connected with meat eating and nutritional requirements has contributed to the expansion of this sector. Greater penetration of fast-food outlets, health concerns, expanding health and rising health awareness, shifting lifestyle & food habits have all contributed to the expansion of the non-meat ingredients industry.
Rapidly Increasing Consumption of Meat All Over the World
The eating patterns of people all over the world are rapidly shifting and consumers are focusing on their convenience. Due to this, the demand for packaged food as well as meat products is increasing. In addition, according to the Department of Agriculture, Fisheries, and Forestry, in the twenty years leading up to 2018, developing nations accounted for almost 85% of the increase in meat consumption across the world.
Market Restraining Factors
Environmental Drawbacks of Meat Consumption Diminishing the Demand
Meat consumption is responsible for the emission of greenhouse gases such as nitrous oxide, CO2, and methane. As a result of such gases, the climate and environment is undergoing a substantial transformation, leading to global warming. There are various ways that livestock production adds to these greenhouse gases. Massive volumes of CO2 are released into the atmosphere as a result of the degradation of forest ecosystems. As they digest food, animals, like cows and sheep, produce a lot of methane.
Based on Ingredient, the Non-Meat Ingredients Market is segmented into Binders, Fillers, Extenders, Flavoring Agents, Coloring Agents, Preservatives, Salts, and Texturing Agents. In 2021, the segment fillers garnered a significant revenue share from the non-meat ingredients market. Fillers are prevalent in processed meats and are employed to enhance the volume and decrease the price of meat products. The addition of meat to meat fillers is a popular technique in developing countries since it helps to reduce manufacturing costs in keeping with their economic stability.
Meet Type Outlook
On the basis of Meat Type, the Non-Meat Ingredients Market is segregated into Beef, Pork, Poultry, and Mutton. In 2021, the pork segment procured the biggest revenue share of the non-meat ingredients market. The significantly rising growth of the segment is majorly attributed to the increasing use of non-meat components in a variety of meat processing applications. Moreover, pork consumption is also linked with a number of health benefits.
Product Type Outlook
Based on Product Type, the Non-Meat Ingredients Market is classified into Fresh Processed Meat, Raw-Cooked Meat, Pre-Cooked Meat, Raw Fermented Sausages, Cured Meat, and Dried Meat. In 2021, the pre-cooked meat segment registered a substantial revenue share from the non-meat ingredients market. The growth of the segment is estimated to rise significantly in the coming years due to the increasing demand for ready-to-eat products, the changing positive taste preferences toward food products containing non-meat ingredients, and the declining prices of the products.
Region-Wise, the Non-Meat Ingredients Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, Asia-Pacific held the largest revenue share of the non-meat ingredient market. The upsurge in the growth of the regional market is majorly owing to the increasing number of meat consumers throughout the region. As the influence of western culture in rising among regional people, their consumption of meat is also increasing.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Dow, Inc., Archer Daniels Midland Company and BASF SE are the forerunners in the Non-Meat Ingredients Market. Companies such as Kerry Group PLC, Koninklijke DSM NV and International Flavors & Fragrances, Inc. are some of the key innovators in Non-Meat Ingredients Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dow, Inc., Kerry Group PLC, Associated British Foods PLC, Ingredion, Incorporated, Archer Daniels Midland Company (ADM Animal Nutrition, Inc.), BASF SE, Koninklijke DSM NV, Foodchem International Corporation, International Flavors & Fragrances, Inc., Essentia Protein Solutions
Recent strategies in Non-Meat Ingredients Market
Acquisitions and Mergers:
May-2022: DSM formed a merger with Firmenichm, a private Swiss company in the fragrance and flavor business. With this merger, the companies aimed to drive innovation within the nutrition, beauty, and well-being sector while also creating new growth prospects.
Apr-2022: Kerry took over Natreon, a leader in branded Ayurvedic botanical ingredients. With this acquisition, the company aimed to strengthen its position across the market while also expanding its ProActive Health portfolio.
Feb-2022: IFF acquired Health Wright Products, a leading formulation and capsule manufacturer. With this acquisition, the company aims to leverage the formulation and finished format capabilities of HWP in order to innovate within the custom combination and formulation products via joint capabilities.
Feb-2022: ABFI completed its acquisition of Fytexia Group, an expert life science company. Under this acquisition, the company aimed to boost its expertise within scientifically supported active nutrients.
Feb-2022: Kerry acquired c-LEcta, a leader in biotechnology innovation. This acquisition aimed to boost Kerry’s enzyme engineering, fermentation, and bioprocess development capabilities. Moreover, this acquisition would also aid the company in accelerating c-LEcta’s growth potential.
Feb-2022: Kerry completed its acquisition of Enmex, an enzyme manufacturer. This acquisition aims to complement the existing enzyme portfolio of Kerry and allow it to offer enhanced nutrition with improved processes to promote sustainability.
Nov-2021: Royal DSM acquired Vestkorn Milling, a subsidiary of the Norwegian company. Through this acquisition, the company aimed to mark a milestone in its vision to develop a substitute protein business and offer synergy through the innovative CanolaPRO rapeseed protein isolate of DSM.
Sep-2021: Royal DSM took over First Choice Ingredients, a leader in dairy-based savory flavorings. Following this acquisition, the company aimed at expedite the growth of First Choice Ingredients via commercializing their products beyond the US among the global customer base of DSM.
Feb-2021: IFF formed a merger with DuPont Nutrition and Biosciences, a subsidiary of DuPont. Through this merger, IFF aimed to strengthen its position as a leader in the ingredients market.
Nov-2020: Ingredion acquired Verdient Foods, a sustainable plant-based protein food vendor. Through this acquisition, the company aimed to expedite net sales growth while also expanding its manufacturing capability and rising with its customers in order to fulfill the demand of consumers for plant-based foods.
Mar-2020: Kerry took over Pevesa Biotech, a non-allergenic and organic plant proteins company. Following this acquisition, the company aimed to strengthen its position within hydrolyzed plant proteins market for specialty nutrition.
Product Launches and Product Expansions:
Mar-2021: Ingredion rolled out the ULTRA-TEX 1311, modified potato starch. The new product can be employed across a range of conventional and substitute formulations in order to develop indulgent textures and enhance stability in contrast to the native potato starch. Furthermore, it can also substitute oil without compromising sensory appeal.
Apr-2021: The Archer-Daniels-Midland expanded its geographical footprint through the launch of a new plant-based innovation lab throughout its Singapore-based Biopolis research hub. Following this geographical expansion, the company aimed to accelerate the development of nutritious products in order to address the rising demand for food and beverage across the Asia-Pacific region.
Scope of the Study
Market Segments covered in the Report:
• Flavoring Agents
• Coloring Agents
• Texturing Agents
By Meat Type
• Mutton & Others
By Product Type
• Fresh Processed Meat
• Raw-Cooked Meat
• Pre-Cooked Meat
• Raw Fermented Sausages
• Cured Meat
• Dried Meat
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o South Africa
o Rest of LAMEA
• Dow, Inc.
• Kerry Group PLC
• Associated British Foods PLC
• Ingredion, Incorporated
• Archer Daniels Midland Company (ADM Animal Nutrition, Inc.)
• BASF SE
• Koninklijke DSM NV
• Foodchem International Corporation
• International Flavors & Fragrances, Inc.
• Essentia Protein Solutions
• Exhaustive coverage
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Read the full report: https://www.reportlinker.com/p06352750/?utm_source=GNW
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