A recent analysis by Fact.MR, a supplier of market research and competitive information, projects that the global market for upcycled ingredients will reach US$ 275.3 million by 2022. After attaining a CAGR of 5.6% between 2017 and 2021, the market is anticipated to grow at a strong CAGR of 6.4% between 2022 and 2032.
Food waste’s detrimental effects on the environment have increased public awareness about its management, which has made it easier for producers of Upcycled Ingredients Market. Market companies are working to introduce innovation by producing high-value ingredients like collagen proteins and calcium carbonate from animal-based waste like eggshells.
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To support market growth, the Upcycled Food Association came into existence for the certification of upcycled ingredients, which has enhanced its safety and popularity among the population. Initially, the use of upcycled ingredients was limited to the food and beverage industry. However, surging demand for organic and safe products in the cosmetics and personal care industry has also amplified interest in upcycled ingredients.
Rules regarding the labeling on upcycled products – upcycled product manufacturers should reveal which ingredients are upcycled on the product label to avoid any misunderstanding and confusion among consumers – will increase awareness about upcycled ingredients and drive overall market growth.
Why is Demand for Upcycled Ingredients Increasing at a Rapid Pace?
“Urgent Need to Curb High Food Wastage across the World”
Rising social awareness regarding the negative impact of severe food wastage across the globe is drawing attention to upcycled ingredients among the global population.
According to the Food and Agriculture Organization (FAO), around 1.3 billion tonnes of food is wasted per year globally, with a valuation of US$ 2.6 trillion. This food waste demonstrates a harmful impact on the environment as it is accountable for 6% of global greenhouse gas emissions. Replicating the social involvement of these worrying environmental issues, consumers are progressively insisting on speeding up action regarding food product disposal, such as food upcycling. This factor is anticipated to upsurge the claim for upcycled products, which reinforces the demand for upcycled ingredients and food waste recycling machines.
Why is the Upcycled Ingredients Trend Big in the United States?
The U.S. is a prominent market in terms of the consumption of upcycled products. It is estimated to account for 68.7% market share in the North American region as well as 32.1% of the global market share by 2032.
Rising food production, as well as food wastage in North America, makes it a favorable region for upcycled ingredient manufacturers to come up with innovative solutions by using food wastage. Manufacturers’ majority along with certified upcycled ingredients in the region is likely to expand their usage over the coming years.
Key Segments Covered in the Upcycled Ingredients Industry Survey
- Upcycled Ingredients Market by Ingredient Type :
- Upcycled Starch
- Upcycled Proteins / Powder
- Upcycled Flour
- Upcycled Dietary Fiber
- Upcycled Ethanol
- Upcycled Oils
- Upcycled Vitamins
- Upcycled Electrolytes
- Upcycled Antioxidants
- Upcycled Minerals
- by Source :
- Plant-based
- Seeds
- Peels
- Flowers
- Fruits
- Grains
- Animal-based
- Egg Shells
- Animal Bones
- Others
- Plant-based
- by End Use :
- Food and Beverages
- Cosmetics and personal care
- Nutraceuticals
- Animal Feed and Pet Food
Winning Strategy
Key manufacturers of upcycled ingredients are focusing on acquiring raw materials that can be further utilized to make upcycled ingredients. Additionally, they are also focusing on getting certifications from the Upcycled Food Association to operate in the market.
Some manufacturers are also concentrating on expanding their customer base through mergers and partnerships for the better reach of their ingredients in the B2B channel.
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Key players in the Upcycled Ingredients Market
- Rise
- ReGrained
- Comet Bio
- Outcast
- Netzro
- Kaffe Bueno
- SunOpta
- Greentech
- American river AG
Key Takeaways from Upcycled Ingredients Market Study
- The global upcycled ingredients market is projected to expand at an impressive CAGR of 6.4% and be valued at US$ 512 million by 2032.
- Under the ingredient type segment, upcycled starch dominates the market with US$ 70.6 million valuation in 2022 and is estimated to register a CAGR of 6.6% through 2032.
- North America dominated the market with 48.7% share in 2021.
- Together, North America and Europe represent over 70% of the overall market share in 2022.
- Based on region, demand for upcycled ingredients is expected to increase at CAGRs of 5.7% and 6.9% in North America and Europe, respectively, over the forecast period.
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