The ingredients market for plant based food & beverages is projected to exhibit exponential growth by 2027 owing to soaring demand for functional food across the globe.

A plant based diet has been shown to provide a wide range of health benefits, including diabetes prevention, lower risk of cardiovascular diseases, and better weight management. Rapid shift in consumer preference towards a vegan lifestyle has augmented industry adoption in recent years.

The ingredients market for plant based food & beverages has been bifurcated based on application, product, and region. In terms of product, the market has further been divided into food texturants, probiotics, fibers, proteins & amino acids, enzymes, phytochemicals & plant extracts, minerals, prebiotics, vitamins, specialty carbohydrates, and fatty acids.

Under probiotics, the ingredients market for plant based food & beverages has been categorized into Bacillus, Lactobacilli, Streptococcus, Bifidobacterium, and others. The Lactobacilli segment is projected to grow at a CAGR of around 20.0% over the assessment period. The Bifidobacterium segment is slated to progress at about 19.0% CAGR through the review timeline. The Streptococcus segment is estimated to expand at over 22.0% CAGR through the forecast period.

The ingredients market for plant based food & beverages from the Bacillus segment is expected to attain a valuation of almost USD 2.5 million by the end of 2027. Meanwhile, the others segment, which includes Enterococcus, Saccharomyces boulardii, and Pediococcus, is anticipated to reach a valuation of over USD 900,000 by 2027.

Under proteins & amino acids, the ingredients market for plant based food & beverages has been categorized into tryptophan, proteins, threonine, L-glutamate, methionine, lysine, and others. The lysine segment is speculated to be worth over USD 6.5 million in revenue by the end of 2027. The methionine segment is anticipated to reach a valuation of approximately USD 12.5 million by 2027. The threonine segment is foreseen to register more than 24.0% gains through the study timeframe.

The ingredients market for plant based food & beverages from the tryptophan segment is set to progress at a CAGR of nearly 24.5% over the stipulated period. The others segment, which includes valine, leucine, alanine, aspartic acid, and arginine, is likely to amass gains of over 17.5% through the projected timeline.

In 2020, the phytochemicals & plant extracts product segment held a market share of almost 0.3% and is poised to witness steady growth over the review period. Surging demand for natural food products is estimated to boost segmental growth in coming time period. Under phytochemicals & plant extracts, the market has been segregated into phytosterols, carotenoids, flavonoids, and others.

The carotenoids segment is projected to register growth at approximately 21.5% CAGR through the analysis timeframe. The ingredients market for plant based food & beverages from the flavonoids segment is estimated to be valued at about USD 3.5 million by 2027. The phytosterols segment is speculated to garner a valuation of more than USD 6.5 million by the end of 2027. The others segment, which includes phenolic acids, polyphenolic amides, reservatrol, curcumin, and lignans, is likely to reach nearly USD 2.5 million valuation by 2027.

Under prebiotics, the market has been segmented into GOS, FOS, MOS, inulin, and others. The MOS segment is anticipated to surpass USD 8.0 million in revenue by the end of 2027. The GOS segment is slated to record a valuation of nearly USD 9.5 million by 2027. The others segment, which includes chicory fructans, xylo-oligosaccharides (XOS), and oligosaccharides, is foreseen to grow at above 19.3% CAGR over the stipulated timeframe.

Under fatty acids, the ingredients market for plant based food & beverages has been divided into omega 3, omega 6, omega 7, and omega 9. The omega 7 segment is set to achieve a sizable revenue of around USD 610 million by 2027.

The vitamins product segment size is projected to reach about USD 22.5 million in revenue by 2027 due to rising prevalence of vitamin deficiency across developed and developing countries. Under vitamins, the ingredients market for plant based food & beverages has been classified into vitamin C, vitamin A, vitamin B12, vitamin D, vitamin B7, vitamin K, vitamin B6, vitamin E, vitamin B5, vitamin B, vitamin B3, and vitamin B2.

The vitamin D segment is expected to exceed USD 6.5 million in revenue by the end of 2027. The vitamin K segment is foreseen to be worth around USD 1.5 million by 2027. The vitamin E segment is speculated to develop at a CAGR of approximately 23.5% over the study period. In 2020, the vitamin B2 segment held nearly 5% market share and is anticipated to witness optimistic growth over 2021-2027. Mounting demand for natural food products is likely to bolster segmental growth.

The ingredients market for plant based food & beverages from the vitamin B5 segment is set to be valued at above USD 300,000 by the end of 2027. The vitamin B6 segment is estimated to amass a revenue worth USD 100,000 by 2027. The vitamin B7 segment is likely to expand at above 26.5% CAGR through the review timeframe. The vitamin C segment recorded a market share of 10% in 2020 and is primed to develop considerably over 2021-2027.

The minerals product segment is projected to register a revenue estimation of almost USD 4.0 million by 2027 owing to its important functional advantages that are essential to build strong teeth & bones, convert the food into energy, and control body fluids outside & inside cells. Under minerals, the market has been categorized into iron, zinc, calcium, magnesium, and others.

The magnesium segment is slated to register nearly USD 800,000 in revenue by 2027. The calcium segment is forecast to reach a valuation of more than USD 1.5 million by 2027. The iron segment is poised to progress at a growth rate of above 17.0% over the analysis period.

The enzymes product segment is anticipated to be valued at around USD 13.5 million by 2027 owing to the extensive use of enzymes as primary ingredients in the majority of food products to perform technological functions in the processing, manufacturing, treatment, and preparation of food items. Under enzymes, the market has been bifurcated into catalyses, proteases, phytases, lipases, polymerases & nucleases, carbohydrases, and others.

The lipases segment is registered a share of over 6.3% in the ingredients market for plant based food & beverages in 2020 and is likely to exhibit robust expansion through 2027. The carbohydrases segment is expected to reach about USD 7.5 million in value by 2027. Under carbohydrases, the market has been segregated into lactases, amylases, pectinases, xylanases, and cellulases. The xylanases segment is set to attain a revenue of above USD 1.2 million by 2027. The cellulases segment is speculated to garner around USD 1.8 million in value by 2027.

The polymerases & nucleases segment is calculated to be worth nearly USD 0.5 million by 2027. The phytases segment is expected to amass a valuation of about USD 1.5 million by the end of 2027. The catalyses segment is foreseen to develop at approximately 20.0% CAGR over the stipulated period.

The fibers product segment is projected to register a valuation of around USD 15.5 million by 2027 owing to growing consumer awareness regarding the benefits of following a healthy diet and the introduction of fiber-rich products in the market. Under fiber, the market has been segmented into soluble and insoluble. The soluble segment is slated to record a valuation of about USD 7.5 million by the end of the forecast period.

Under food texturants, the ingredients market for plant based food & beverages has been divided into stabilizers, hydrocolloids, emulsifiers, and others. The emulsifiers segment is anticipated to progress at a growth rate of nearly 22.0% over the assessment timeframe. Meanwhile, the others segment, which includes food thickeners and lecithin, is estimated to exceed a valuation of USD 150 million by the end of 2027.

With respect to application, the ingredients market for plant based food & beverages has been segregated into RTE & RTC meals, plant-based milk & derivatives, RTD tea & coffee, bakery & confectionery, plant-based juices, sweet & savory snacks, and others. The bakery & confectionery segment is expected to be valued at over USD 340 million by 2027 owing to rising demand for chocolates, breakfast cereals, sugar confectionery, cookies, breads, gums, and other products.

The ingredients market for plant based food & beverages from the plant-based juices segment is slated to reach an evaluation of nearly USD 100 million by 2027 owing to escalating demand for organic products on account of increasing health-consciousness among consumers. The RTD tea & coffee segment is poised to garner USD 110 million in revenue by 2027 due to increasing consumer awareness about the health hazards of carbonated drinks, which has prompted them to shift towards ready-to-drink tea & coffee.

The others application segment, which includes sauces & dressings, sports nutrition products, dietary supplements, and egg alternatives, is projected to expand at a CAGR of approximately 19.0% over the forecast period to amass a notable share in the ingredients market for plant based food & beverages by 2027. Eubiotics help balance the microflora present in the gastrointestinal tract of livestock, thereby improving growth performance, which is estimated to drive market adoption over 2021-2027.

On the regional front, the Latin America ingredients market for plant based food & beverages is likely to achieve an estimation worth USD 260 million by 2027 owing to high demand and production of functional food & beverage products. The Middle East and Africa eubiotics market is set to grow at above 19.5% CAGR over the forecast timeline due to mounting prevalence of lactose intolerance and emerging vegan trend across MEA.