According to the report published by Allied Market Research, the global upcycled food products market garnered $53.7 billion in 2021, and is estimated to generate $97.0 billion by 2031, manifesting a CAGR of 6.2% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
|Market Size in 2021||$53.7 billion|
|Market Size in 2031||$97.0 billion|
|No. of Pages in Report||360|
|Segments covered||type, source, distribution channel, and region|
|Drivers||Surge in demand for sustainable and eco-friendly products|
|Opportunities||Increased popularity of vegan and plant-based diets
Increased government initiatives and expenditures in the development of food collecting waste, separation, and upcycling technology
|Restraints||Competition from traditional food goods|
- The global upcycled food products market has shown resilience during the outbreak of the COVID-19 pandemic, and many companies have adapted their operations to meet changing consumer needs and to ensure the safety of their workers.
- As the pandemic continues to evolve, it is anticipated that the upcycled food products market will continue to grow as more consumers become interested in sustainable and ethical food options.
The research provides detailed segmentation of the global upcycled food products market based on type, source, distribution channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the food and beverages segment held the highest share in 2021, accounting for more than half of the global upcycled food products market, and is expected to continue its leadership status during the forecast period. However, the household products segment is expected to register the highest CAGR of 6.9% from 2022 to 2031.
Based on source, the food waste segment accounted for the highest share in 2021, contributing to nearly half of the global upcycled food products market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the brewery and distillery waste segment is expected to manifest the highest CAGR of 6.7% from 2022 to 2031.
Based on distribution channel, the offline segment accounted for the highest share in 2021, holding nearly three-fifths of the global upcycled food products market, and is expected to continue its leadership status during the forecast period. However, the online segment is estimated to grow at the highest CAGR of 6.5% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global upcycled food products market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA region is expected to manifest the fastest CAGR of 7.3% during the forecast period. The research also analyzes regions including Europe and Asia-Pacific.
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Leading market players of the global upcycled food products market analyzed in the research include Diana’s Bananas, LLC., Outcast Foods, The Spare Food Co., Blue Stripes LLC., Superfrau, Lost & Found Distillery, Inc., Abokichi, Riff Cold Brewed, ReGrained, Alice & Ambre Inc.
The report provides a detailed analysis of these key players of the global upcycled food products market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Source From:- https://www.globenewswire.com/news-release/2023/03/29/2636871/0/en/Upcycled-Food-Products-Market-Size-to-Generate-97-0-Billion-by-2031-Allied-Market-Research.html
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