Global Upcycled Food Product Market Overview:
The Upcycled Food Product Market Size was estimated at 83.5 (USD Billion) in 2022. The Upcycled Food Product Market is expected to grow from 99.06 (USD Billion) in 2023 to 461.23 (USD Billion) by 2032. The Upcycled Food Product Market CAGR (growth rate) is expected to be around 18.64% during the forecast period (2024 - 2032).
Key Upcycled Food Product Market Trends Highlighted
Key market drivers for upcycled food products include growing consumer awareness of food waste and its environmental impact, increasing demand for sustainable and ethical food choices, and the development of innovative technologies that make upcycling more feasible.
Opportunities for exploration include developing new upcycled food products that appeal to a wider range of consumers, creating partnerships with food manufacturers and retailers to increase distribution, and investing in research and development to improve the nutritional value and taste of upcycled foods.
Recent trends in the upcycled food product market include the emergence of upcycled ingredients as a key component in new product development, the growing popularity of upcycled snacks and beverages, and the increasing adoption of upcycling by food service operators.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Upcycled Food Product Market Drivers
Growing Consumer Demand for Sustainable Food Products
Consumers are increasingly seeking out sustainable food products as they become more aware of the environmental and social impacts of their food choices.
This trend is driven by a number of factors, including the rise of social media, which has made it easier for consumers to learn about the environmental and social impacts of their food choices.
In addition, there is a growing body of research that shows that sustainable food products are often healthier and more nutritious than conventional food products.
As a result of these factors, consumers are increasingly demanding sustainable food products, and this demand is expected to continue to grow in the years to come.
The Global Upcycled Food Product Market is expected to benefit from this growing consumer demand for sustainable food products.
Government Regulations and Incentives
Government regulations and incentives are helping the Global Upcycled Food Product Market to grow as well.
The governments of many countries are now implementing regulations that oblige food companies to reduce their impact on the environment.
As a result, food companies are increasingly adopting upcycling and other environmentally friendly practices. Moreover, the governments provide incentives for food companies to invest in upcycling.
These incentives include tax deductions, grants, and low-interest loans. Therefore, the upcycling sector is growing due to the impact of government regulations and incentives.
It is expected that food companies will increasingly invest in upcycling as a result of these regulations and incentives and this will help the Global Upcycled Food Product Market to grow.
Technological Advancements
Additionally, technological advancements are facilitating the growth of the Global Upcycled Food Product Market. Through new technologies, the upcycling of food waste is becoming more feasible and cost-effective for food companies.
For instance, the new sorting technologies can help to separate food waste from other materials. Moreover, new processing technologies are making it possible to process food waste and manufacture new products.
In this way, food companies will be able to sell their upcycled products. As a result, the growth of the Global Upcycled Food Product Market will be encouraged.
Upcycled Food Product Market Segment Insights:
Upcycled Food Product Market Upcycled Food Type Insights
The Global Upcycled Food Product Market segmentation by Upcycled Food Type offers valuable insights into the diverse range of upcycled food products available in the market.
Among the key categories, Fruits and Vegetables hold a significant market share, driven by the increasing demand for healthy and sustainable food options.
In 2023, the Upcycled Fruits and Vegetables segment was valued at approximately USD 21.24 billion and is projected to reach USD 121.73 billion by 2032, exhibiting a robust CAGR of 20.4%.
This growth is attributed to the rising awareness of food waste and the adoption of upcycling practices to reduce environmental impact.
Dairy Products constitute another important segment within the Upcycled Food Product Market. The increasing demand for plant-based alternatives and the growing popularity of upcycled dairy products, such as yogurt made from surplus milk, are contributing to the segment's growth.
The Global Upcycled Dairy Products segment is estimated to reach USD 11.67 billion by 2024, showcasing a promising growth trajectory. Meat and Poultry upcycled products are gaining traction as consumers seek sustainable and ethical meat options.
Upcycled meat products, such as sausages made from surplus meat trimmings, offer an innovative solution to reduce food waste while meeting the growing demand for protein.
The Global Upcycled Meat and Poultry Products segment is anticipated to reach USD 9.04 billion by 2024, reflecting the increasing consumer preference for sustainable meat consumption. Seafood upcycled products are emerging as a niche segment within the Global Upcycled Food Product Market.
Upcycling surplus fish and seafood byproducts into value-added products, such as fish crackers made from fish bones, is gaining momentum due to its potential to reduce waste and promote sustainable seafood practices.
The Global Upcycled Seafood Products segment is expected to reach USD 4.36 billion by 2024, indicating the growing importance of sustainability in the seafood industry.
Baked Goods upcycled products utilize surplus or discarded ingredients from the baking process to create innovative and sustainable food items. Upcycled baked goods, such as bread made from spent grain, offer consumers an opportunity to reduce food waste while enjoying delicious and nutritious products.
The Global Upcycled Baked Goods segment is projected to reach USD 5.41 billion by 2024, demonstrating the growing consumer demand for sustainable baked goods.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Upcycled Food Product Market Form Insights
The Global Upcycled Food Product Market is segmented by form into fresh, frozen, canned, dried, and powdered. Among these, the fresh segment held the largest market share in 2023, accounting for over 35% of the global revenue.
The growth of this segment can be attributed to the increasing demand for fresh and minimally processed foods. The frozen segment is expected to witness the highest CAGR of 19.5% during the forecast period, owing to the growing popularity of frozen foods due to their convenience and longer shelf life.
Canned foods are also gaining popularity due to their extended shelf life and portability, and the segment is expected to grow at a CAGR of 18.4% over the coming years.
The dried and powdered segments are expected to grow at a steady pace, driven by the increasing demand for shelf-stable and portable food products.
Upcycled Food Product Market Application Insights
The application segment of the Global Upcycled Food Product Market offers valuable insights into the industry's dynamics. In 2023, the food ingredients segment held a dominant position in the market, accounting for approximately 45% of the overall revenue.
This dominance stems from the increasing demand for upcycled ingredients in various food products, including bakery, confectionery, and dairy.
The beverages segment is expected to witness significant growth in the coming years, owing to the rising popularity of upcycled fruit and vegetable juices, smoothies, and other beverages.
Additionally, the pet food segment is gaining traction due to the growing awareness of pet health and the demand for sustainable pet food options.
The cosmetics and pharmaceuticals segments are also anticipated to contribute to the market growth, driven by the increasing use of upcycled ingredients in natural and organic personal care products, as well as dietary supplements.
Upcycled Food Product Market Distribution Channel Insights
The Global Upcycled Food Product Market is segmented by distribution channel into online and offline channels. The offline channel is expected to hold a larger market share in 2023 due to the wide availability of upcycled food products in supermarkets, hypermarkets, convenience stores, and specialty stores.
However, the online channel is expected to witness significant growth over the forecast period due to the increasing popularity of e-commerce and the convenience of shopping for upcycled food products online.
In 2023, the online channel is expected to account for around 20% of the Global Upcycled Food Product Market revenue, and this share is expected to increase to over 30% by 2032.
The growth of the online channel is primarily attributed to the increasing penetration of smartphones and the internet, as well as the growing popularity of subscription-based meal kits and other online food delivery services.
Upcycled Food Product Market Regional Insights
The Global Upcycled Food Product Market was valued at USD 46.68 billion in 2023 and is projected to reach USD 126.21 billion by 2032, exhibiting a CAGR of 11.2% during the forecast period. Regionally, North America held the largest market share in 2023, accounting for 38.7% of the global market.
The region's dominance can be attributed to the growing awareness of food waste reduction, coupled with the presence of major upcycled food product manufacturers.
Europe is expected to witness significant growth over the forecast period, owing to the increasing adoption of sustainable food practices and the rising demand for convenient and healthy food options.
APAC is projected to emerge as a lucrative market, driven by the rising disposable income and the increasing awareness of upcycled food products.
South America and MEA are expected to experience moderate growth, owing to the growing population and the increasing urbanization.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Upcycled Food Product Market Key Players and Competitive Insights:
Major players in the Upcycled Food Product Market are continuously innovating and developing new products to meet the growing demand for sustainable and nutritious food options.
Leading Upcycled Food Product Market players are investing heavily in research and development to create innovative upcycled food products that are both delicious and affordable.
The Upcycled Food Product Market is expected to witness significant development in the coming years, driven by the increasing consumer demand for sustainable and healthy food products.
The competitive landscape of the Upcycled Food Product Market is expected to remain highly competitive, with major players vying for market share through product innovation and strategic partnerships.
Apeel Sciences is a leading company in the Upcycled Food Product Market. The company has developed a unique plant-based coating that can extend the shelf life of fruits and vegetables by up to three times. Apeel Sciences' products are used by major retailers and foodservice companies around the world.
The company is committed to reducing food waste and promoting sustainable agriculture. Apeel Sciences is a key player in the Upcycled Food Product Market and is expected to continue to drive innovation in the industry.
In contrast, ReGrained is another major player in the Upcycled Food Product Market. The company upcycles spent brewer's grain, a byproduct of the beer-making process, into nutritious and sustainable food products.
ReGrained's products are used by food manufacturers, restaurants, and consumers around the world. The company is committed to reducing food waste and promoting a circular economy. ReGrained is a key player in the Upcycled Food Product Market and is expected to continue to drive innovation in the industry.
Key Companies in the Upcycled Food Product Market Include:
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Ugly Compa
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Pulp Pantry
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Future Farm
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ChopValue Foods
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MunchBetter
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Rise Products
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Renewal Mill
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Yoconut
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Apeel Sciences
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Neutral Foods
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Barnana Organic
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Sir Kensington's
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Too Good to Go
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Karma Foodse
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ReGrained
Upcycled Food Product Market Developments
The rising consumer awareness regarding sustainability and food waste reduction is driving market growth. Government initiatives and regulations promoting upcycled food products are further fueling market expansion.
Key industry players are investing in research and development to innovate new upcycled food products, catering to evolving consumer preferences.
Partnerships and collaborations among stakeholders are fostering market growth, with companies seeking to strengthen their supply chains and expand their product offerings.
The market is witnessing the emergence of new business models, such as subscription-based services and online marketplaces, providing consumers with convenient access to upcycled food products.
Upcycled Food Product Market Segmentation Insights
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Upcycled Food Product Market Distribution Channel Outlook
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Online
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Offline (Supermarkets, Hypermarkets, Convenience Stores, Specialty Stores)
| Report Attribute/Metric |
Details |
| Market Size 2022 |
83.5(USD Billion) |
| Market Size 2023 |
99.06(USD Billion) |
| Market Size 2032 |
461.23(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
18.64% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Ugly Compa, Pulp Pantry, Future Farm, ChopValue Foods, MunchBetter, Rise Products, Renewal Mill, Yoconut, Apeel Sciences, Neutral Foods, Barnana Organic, Sir Kensington's, Too Good to Go, Karma Foodse, ReGrained |
| Segments Covered |
Upcycled Food Type, Form, Application, Distribution Channel, Regional |
| Key Market Opportunities |
E-commerce expansion Sustainability focus Product innovation Rising consumer awareness Increased demand for healthy and ethical food options |
| Key Market Dynamics |
Rising consumer awareness Sustainability concerns Government initiatives Growing demand from millennials Increasing product innovation |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Upcycled Food Product Market reached a valuation of 99.06 billion USD in 2023.
The Global Upcycled Food Product Market is projected to grow at a CAGR of 18.64% from 2024 to 2032.
North America is expected to hold the largest market share in the Global Upcycled Food Product Market in 2032.
Upcycled food products find applications in various sectors, including food and beverage, animal feed, and cosmetics.
Key competitors in the Global Upcycled Food Product Market include companies such as ReGrained, Pulp Pantry, and Ugly Drinks.
The Global Upcycled Food Product Market is expected to reach a valuation of 461.23 billion USD by 2032.
The growth of the Global Upcycled Food Product Market is driven by factors such as increasing consumer awareness of sustainability and the need to reduce food waste.
Challenges faced by the Global Upcycled Food Product Market include ensuring consistent quality of upcycled ingredients and scaling up production to meet market demand.
Opportunities for growth in the Global Upcycled Food Product Market include expanding into new applications and developing innovative upcycled food products.
Key trends in the Global Upcycled Food Product Market include the increasing popularity of plant-based upcycled products and the adoption of upcycled ingredients by major food and beverage companies.
