Plant-Based Food Market: Industry Analysis and Forecast (2022-2029)

Plant-Based Food Market size was valued at US$ 37.49 Bn. in 2021 and the total revenue is expected to grow at 12.4 % through 2022 to 2029, reaching nearly US$ 95.52 Bn.

Plant-Based Food Market Overview:

Plants-Based food are on trend, now a days more and more people are adopting plant base food. Plant-based food consists of all fruits, vegetables, nuts, seeds, legumes, whole grains, herbs, and spices. But It doesn’t mean that it is only for vegetarians or vegans it also contains eggs and fish including red meat. Plant-Based Food Market To know about the Research Methodology :- Request Free Sample Report Market Scope The global Plant-based Food market is segmented by type (Dray alternative, meat alternative, Egg Substitutes, Condiments, other), by Source (Soy, Almond, Wheat, other), by Distribution Channel (Hypermarkets, Supermarkets, Online stores, Convenience stores), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). The report covers forecast revenue growth at the global, regional, and country level and provide analyses of industry trends and restrains in each segment Besides this, the report analyses factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., restraints, opportunities, drivers, and future trend. The report also provides an exhaustive PORTER, & PEST analysis for all five regions. Research Methodology The plant-based food market report collects data from primary and secondary research.Secondary data has been collected from the internal database, paid sources, annual reports of the Department of food and public distribution, news releases from the government, and price databases & many more sources. Several primary interviews have been conducted with market experts from both demand- and supply-sides across major countries in North Asia Pacific, America, Europe, and Middle East. The primary data has been collected through surveys, emails, and telephonic interviews. The bottom-up approach was used for the estimation and validation of the global market. These methods were applied extensively for the estimation of the sub-segments and market size. The report included key players Tyson Foods, Inc., Nestle SA, Keystone Natural Holdings, General Mills Inc, and Premier Foods PLC. These key players of the Plant-Based Food Market set Market Trends and create growth opportunities in the Market Forecast period.

Plant-Based Food Market Dynamics:

Vegan dietary habits across the globe are also driving the market growth An increase in the concern about the environment among the population is driving the growth of the vegan. The rearing and social standing of livestock such as pigs, hens, cows, and goats on farms contribute to the greenhouse effect. Greenhouse gases are released from the agriculture of livestock such as cows and the gases are released to block the atmospheric heat from escaping, which increases the overall temperature. The demand for animal meat requires the excess practice of animal farming. Thus, an increase in the number of consumers of vegan food, eliminates the demand for excessive animal farming, following a decrease in the emission of greenhouse gases in the Environment. Plant-Based Food Market Climate change driving the customer to switch to a plant-based diet Climate awareness is one-factor driving customers to switch to a more plant-based diet. A recent study by the Federation of American Societies for Experimental Biology found the production of plant-based meat alternatives to contribute 10x fewer greenhouse emissions than equivalent beef-based products. Indicates a drop in meat and dairy consumption, but increased demand for companies that validate a positive environmental impact whilst still offering the protein content that can be found in animal-based products. Also, there is technological advancement in plant-based alternatives, such as soy, nuts, and peas there are some companies, which is utilizing the product of dilating food & beverages, which offers to reduce the use of plastics Market Restraints Although plant-based meat products are healthy and have essential minerals, their consumption causes some ill effects, thus restraining the market growth. Anti-nutritional components present in soy could cause health issues, such as soy allergy. Gluten-intolerant people are prone to celiac disease caused by a reaction to gluten proteins found in wheat, barley, rye, and sometimes, oats. The inflammation and destruction of the small intestine's inner lining in celiac disease are caused by an allergic reaction to gluten in the diet.

Plant-Based Food Market Segment Analysis:

By Type, The dairy alternatives segment is expected to account for the largest share of the plant-based food market. The dairy alternatives market is segmented into milk, cheese, yogurt, butter, ice cream, creamer, and others. In 2021, the milk segment is expected to account for the largest share of the dairy alternatives market. Milk is categorised into soy milk, Quinoa milk, Coconut milk, Cow’s milk, Multigrain Milk, and Hemp Milk. Dairy milk is a rich source of protein and a very common source of dietary calcium. Many other plant-based foods contain these nutrients. By Source type, the soy segment is expected to account for the largest share of the plant-based food market. Soy foods can contribute valuable nutrition to plant-based diets, such as flexitarian, vegetarian and vegan, while also providing important health benefits. They can be important sources of protein, fiber, essential fats, and minerals including iron, calcium, and potassium. In addition to their rich nutrient profile, soy foods provide dietary components, such as flavones, which are found in negligible amounts in other plant foods. Plant-Based Food MarketSoybeans and soy foods may reduce the risk of a range of health problems, including cardiovascular disease, stroke, coronary heart disease (CHD), and some cancers as well as improve bone health. About four daily servings of soy foods in conjunction with a diet low in saturated fat and cholesterol can reduce our LDL (bad) cholesterol by around 3-4%. Plant-Based Food MarketBy Distribution channel, the retail seal of plant-based food is twice as fast as the overall food seal. As per recent data from the plant-based food association and good food institute, spins show retail seal plant-based based food continues to increase, growing 6.2% in 2021 over a record year of growth in 2020. The rise in plant-based based food due to positive impact on personal and planetary health. Retailers and foodservice providers are meeting consumers where they are by associating with brands across the entire store to expand space, increase the variety and make it easier than ever to find and purchase plant-based foods. The potential impact of these initiatives extends far beyond the store shelf: By taking consumer concerns to heart, the industry is actively embracing its role as a key driver of change that moves us closer to a secure and sustainable food system. Plant-Based Food Market

Plant-Based Food Market Regional Insights:

The plant-based food market is segmented into Asia-Pacific, Europe, North America, South America and Middle East & Africa. North America is estimated to account for the largest share of the plant-based food market. North America in the plant-based food market is attributed to factors such as the high awareness regarding the importance of protein-rich diets, increased health consciousness amongst consumers, a well-established food sector, higher adoption of technological advancements in the food & beverage industry, and significant investments in the plant-based sector. Asia –Pacific witnessed the second largest market share plant-basedfood market. The market in Asia-Pacific is a significant sign of strong growth in the future. The high market growth in Asia-Pacific is attributed to the factors such as the growing adoption of emerging technologies for product innovation, collaborations between international and domestic food companies, increasing R&D investments by governments in the food sector, presence of a large number of key players in the market, and the rising number of vegan restaurants. The high market growth in the Asia-Pacific is further supported by factors such as the rapid growth in urbanization, the growing middle-class population and rising income level, and the growing awareness about the benefits of protein-rich diets. China is set to drive the industry's growth, and the outbreak of the COVID-19 pandemic and other public health fears could serve as catalysts. Although the market is still small compared to Asia's giant meat supply chain, vegetarian alternatives to meat, dairy, and seafood have started gaining growing customers in the country. The objective of the report is to present a comprehensive analysis of the Plant-Based Food Marketto the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Plant-Based Food Market dynamics, structure by analyzing the market segments and project the Plant-Based Food Marketsize. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Plant-Based Food Market make the report investor’s guide.

Plant-Based Food & Beverage Market Scope: Inquire before buying

Plant-Based Food & Beverage Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 37.49 Bn.
Forecast Period 2022 to 2029 CAGR: 12.4% Market Size in 2029: US $ 95.52 Mn.
Segments Covered: by Type • Dairy Substitute • Meat Substitute • Egg Substitute • Seafood Substitute • Others
by Source • Soybean • Nuts • Wheat • Pea • Others
by distribution channel • Food retail • Food services • E-commerce

Plant-Based Food Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Plant-Based Food Market Key Players

• Beyond Meat (US) • Kellogg Company (US) • Impossible Foods Inc. (US) • Maple Leaf Foods (Canada) • Unilever (UK) • Conagra Foods (US) • Tofurky (US) • Gold&Green Foods Ltd (Finland) • Sunfed (New Zealand) • Monde Nissin (Philippines) • Planterra Foods (US) • FazendoFuturo (Brazil) • Alpha Foods (US) • Tomorrow Foods (Argentina) • Before the Butcher (US) • Good Dot (India) • VBites Foods Ltd. (UK) • No Evil Foods (US) • Vezlay Foods (India) • Let’s Plant Meat (Thailand) Frequently Asked Questions: 1. What is the forecast period considered for the Plant-Based Food Market report? Ans. The forecast period for the Plant-Based Food Market is 2021-2029. 2. Which key factors are hindering the growth of the Plant-Based Food Market? Ans. Allergic reactions are hindering the growth of plant-based food market. 3. What is the compound annual growth rate (CAGR) of the Plant-Based Food Market for the forecast period? Ans. 12.4 % is the compound annual growth rate (CAGR) of the Plant-Based Food Market 4. What are the key factors driving the growth of the Plant-Based Food Market? Ans. Vegan dietary habits across the globe are also driving the market growth driving market growth. 5. Which are the worldwide major key players covered for the Plant-Based Food Market report? Ans. Nestle S.A.,Tyson Foods Inc,Vbite Food Ltd are the major key players for the plant-based food market report.
1. Global Plant-Based Food Market: Research Methodology 2. Global Plant-Based Food Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Plant-Based Food Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Plant-Based Food Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Plant-Based Food Market Segmentation 4.1 Global Plant-Based Food Market, by Type (2021-2029) • Dairy Substitute • Meat Substitute • Egg Substitute • Seafood Substitute • Others 4.2 Global Plant-Based Food Market, by Source (2021-2029) • Soybean • Nuts • Wheat • Pea • Others 4.3Global Plant-Based Food Market, by Distribution Channel (2021-2029) • Food retail • Food services • E-commerce 5. North America Plant-Based Food Market(2021-2029) 5.1 North America Plant-Based Food Market, by Type (2021-2029) • Dairy Substitute • Meat Substitute • Egg Substitute • Seafood Substitute • Others 5.2 North America Plant-Based Food Market, by Source (2021-2029) • Soybean • Nuts • Wheat • Pea • Others 5.3North AmericaPlant-Based Food Market, by Distribution Channel (2021-2029) • Food retail • Food services • E-commerce 5.4 North America Plant-Based Food Market, by Country (2021-2029) • United States • Canada • Mexico 6. EuropePlant-Based Food Market(2021-2029) 6.1. European Plant-Based Food Market, by Type (2021-2029) 6.2. European Plant-Based Food Market, by Source (2021-2029) 6.3. European Plant-Based Food Market, by Distribution Channel (2021-2029) 6.4. European Plant-Based Food Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Plant-Based Food Market(2021-2029) 7.1. Asia Pacific Plant-Based Food Market, by Type (2021-2029) 7.2. Asia Pacific Plant-Based Food Market, by Source (2021-2029) 7.3. Asia Pacific Plant-Based Food Market, by Distribution Channel (2021-2029) 7.4. Asia Pacific Plant-Based Food Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Plant-Based Food Market(2021-2029) 8.1 Middle East and Africa Plant-Based Food Market, by Type (2021-2029) 8.2. Middle East and Africa Plant-Based Food Market, by Source (2021-2029) 8.3. Middle East and Africa Plant-Based Food Market, by Distribution Channel (2021-2029) 8.4. Middle East and Africa Plant-Based Food Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Plant-Based Food Market(2021-2029) 9.1. South America Plant-Based Food Market, by Type (2021-2029) 9.2. South America Plant-Based Food Market, by Source (2021-2029) 9.3. South America Plant-Based Food Market, by Distribution Channel (2021-2029) 9.4South America Plant-Based Food Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Beyond Meat (US) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Kellogg Company (US) 10.3 Impossible Foods Inc. (US) 10.4 Maple Leaf Foods (Canada) 10.5 Unilever (UK) 10.6 Conagra Foods (US) 10.7 Tofurky (US) 10.8 Gold&Green Foods Ltd (Finland) 10.9 Sunfed (New Zealand) 10.10 Monde Nissin (Philippines) 10.11 Planterra Foods (US) 10.12 FazendoFuturo (Brazil) 10.13 Alpha Foods (US) 10.14 Tomorrow Foods (Argentina) 10.15 Before the Butcher (US) 10.16 Good Dot (India) 10.17 VBites Foods Ltd. (UK) 10.18 No Evil Foods (US) 10.19 Vezlay Foods (India) 10.20 Let’s Plant Meat (Thailand)

About This Report

Report ID 111733
Category Food & Beverages
Published Date Jul 2021
Updated Date Aug 2022
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