The Upcycled food products Market Size is valued at USD 56.81 Bn in 2023 and is predicted to reach USD 93.24 Bn by the year 2031 at a 6.53% CAGR during the forecast period for 2024-2031.
The non-profit Upcycled Food Association defined "upcycled food" as made from ingredients that would not have been consumed by humans, produced using verified supply chains and having a positive environmental impact. Upcycled food products and ingredients increase the use of food that would otherwise be wasted, offering tangible benefits for society and the environment. As a relatively new food category, repurposed food presents a significant opportunity to reduce food waste by reintroducing high-value by-products, such as leftover fruit and vegetable peels, back into production streams. The upcycling movement in food also finds uses for soft, damaged, or deformed fruits and vegetables, as well as edible stems, leaves, and residual pulp from juices. Companies like Barnana, which creates snacks from bananas, have embraced the zero-waste food trend.
The first and only third-party certification scheme for products and ingredients used in recycled food manufacturing in the world is called Upcycled Certified. Since its launch in May 2021, this certification has helped avoid 1.6 billion pounds of food waste through 324 certified products and ingredients. Researchers anticipate that, given current growth trends, this number will rise to at least 5 billion pounds annually in the coming years. Additionally, in 2022, efforts were made to expand influence, reach, and capacity by building on existing connections and forming new ones. Initiatives such as the Food Waste Funder Circle working with REFED, Anthesis Group developing innovative upcycled food concepts in Ontario, and Market Partners expanding consumer uptake of upcycled foods aim to spark innovation and transform the entire food system.
Competitive Landscape
Some of the Major Key Players in the Upcycled Food Products Market are
- Abokichi
- Agricycle Global
- ÄIO
- Alice & Ambre Inc
- Bake Me Healthy
- Barnana
- Blue Circle Foods
- Blue Stripes LLC.
- Cascara Foods
- Crust
- Diana's Bananas, LLC
- Green Bowl,
- I Am Grounded,
- Lost & Found Distillery Inc
- Matriark Foods
- Misfit Foods
- Oisix
- Outcast Foods
- Planetarians
- Pluck
- Pulp Pantry
- ReGrained
- Riff Cold Brewed
- RISE Products
- Rootly
- SUPERFRAU
- The Spare Food Co
- Toast Ale
- US Foods
- Other Prominent Players
Market Segmentation:
The Upcycled Food Products Market is segmented based on the by type, by source, by distribution channel. Based on the type, the market is segmented into food and beverages, personal care products, household products, and pet food. Based on the source, the market is segmented into food waste, agricultural by-products, brewery, and distillery waste. The by distribution channel segment is segmented into online, and offline.
The Food And Beverages Segment Is Expected To Have The Highest Growth Rate During The Forecast Period
Based on the type, the segment is categorized into food and beverages, personal care products, household products, and pet food. Among these, the food and beverages segment are expected to have the highest growth rate during the forecast period. The Food and Beverages segment includes a wide variety of products, from snacks and beverages to ingredients and ready-to-eat meals. This diversity allows for numerous upcycling opportunities to drive the market. There is growing regulatory support and incentives for reducing food waste and promoting sustainable practices, which encourages companies to adopt upcycling practices.
The Food Waste Segment Dominate the Market
Based on the source, the segment is divided into food waste, agricultural by-products, brewery, and distillery waste. Among these, the food waste segment dominates the market. Increasing consumer demand for sustainable and eco-friendly products drives the market. Consumers are more inclined to purchase products that contribute to waste reduction and environmental sustainability. The food waste segment offers numerous opportunities for innovation in product development. Companies can create unique and nutritious products by repurposing food waste and attracting health-conscious and environmentally aware consumers.
North America Have the Largest Market Share During Forecast Period
There is a high consumer awareness and demand for sustainable and eco-friendly products in North America. Consumers are increasingly seeking out products that reduce food waste and have a positive environmental impact. North America, particularly the United States and Canada, is a hub for innovation in the food industry. Many companies are investing in and developing upcycled food products, supported by advanced research and development capabilities.
Recent Developments:
- In Dec 2023, The Spare Food Co., An organization that uses upcycling to combat food waste has introduced Spare Starter, a flexible plant-based ingredient blend with a variety of uses. In recipes like burgers and meatballs, Spare Starter can partially replace animal protein, supporting the growing trend of plant-forward diets.
- In February 2023 - Planetarians received USD 6 million in funding during its Seed II round to support the large-scale manufacturing of its inventive vegan meat blocks, which are made with two recycled materials—oil cakes and brewer's yeast—for the food service sector. With the money, the business will build a pilot plant that can produce large amounts of vegan blocks per year, indicating the start of a full-fledged commercial production phase.
Upcycled Food Products Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 56.81 Bn |
|
Revenue Forecast In 2031 |
USD 93.24 Bn |
|
Growth Rate CAGR |
CAGR of 6.53% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, By Source, By Distributional Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
|
Competitive Landscape |
Blue Stripes LLC., Outcast Foods, Abokichi, Alice & Ambre Inc, Diana's Bananas, LLC, Superfrau, The Spare Food Co, Lost & Found Distillery Inc, Riff Cold Brewed, ReGrained, Toast Ale, RISE Products, Misfit Foods, US Foods, Agricycle Global, Pulp Pantry, SUPERFRAU, Blue Circle Foods, Riff, Barnana, Planetarians, ÄIO, Bake Me Healthy, Cascara Foods, Crust, Green Bowl, I Am Grounded, Matriark Foods, Oisix, Pluck, Rootly, RISE Products, Lost & Found Distillery Inc. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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