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Global Plant-Based Food Market – Industry Trends and Forecast to 2030

  • Food & Beverage
  • Upcoming Report
  • Sep 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Plant-Based Food Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 17963.65 Million
Diagram Market Size (Forecast Year) USD 112033.72 Million
Diagram CAGR %

Global Plant-Based Food Market, By Product Type (Non-Dairy Milk and Dairy Products, Bakery and Confectionery, Sweet and Savoury Snacks, RTE and RTC Meals, Others), Category (Organic, Conventional), Distribution Channel (Store-Based, Non Store Based) – Industry Trends and Forecast to 2030.

Plant-Based Food Market Analysis and Size

Veganism is an environmentally conscious, low-carbon lifestyle that is here to stay for a long time. The global market and its expansion are the best instances of this. The world has been looking for new and different foods to eat, and this has reflected in the growth of the global plant-based food market. We have always eaten plants and their products as food as humans. On the other hand, plant-based foods are a more refined version of plant products marketed for commercial use.

Data Bridge Market Research analyses that the global plant-based food market which was USD 17,963.65 million in 2022, is expected to reach USD 112,033.72 million by 2030, and is expected to undergo a CAGR of 25.7% during the forecast period 2023-2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Plant-Based Food Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Non-Dairy Milk and Dairy Products, Bakery and Confectionery, Sweet and Savoury Snacks, RTE and RTC Meals, and Others), Category (Organic and Conventional), Distribution Channel (Store-Based and Non Store Based)

Countries Covered

U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Bayer AG (Germany), Abbott (U.S.), DSM (Netherlands), DuPont. (U.S.), Amway (U.S.), The Nature's Bounty Co. (U.S.), GSK plc. (U.K.), Nestlé (Switzerland), RiceBran Technologies (U.S.), Mead Johnson & Company, LLC. (U.S.), Medifast, Inc. (U.S.), Premier Nutrition Corporation (U.S.), TOOTSI IMPEX Inc. (Canada), U.S. Spice Mills, Inc. (U.S.), Health Food Manufacturers' Association (U.K.), NOW Foods (U.S.), Glanbia PLC (Ireland), Herbalife International of America, Inc. (U.S.), and Bionova (India)

Market Opportunities

  • The extensive properties of plant based foods high-quality
  • The vast majority of the world's population will remain lactose intolerant
  • Sustainable living movement, which advocates for climate- and animal-safe foods

Market Definition

Plant-based food refers to a variety of food products made from natural plant ingredients. These products are typically made from fruits, vegetables, nuts, oils, whole grains, and legumes, with no animal-derived ingredients such as meat, milk, or eggs. Tofu, coconut and almond milk, tempeh, and seitan are examples of popular plant-based foods. A diet rich in vitamins B1, C, and E, folic acid, magnesium, and iron, as well as low in cholesterol and saturated fats, is recommended.

Global Plant-Based Food Market Dynamics

Drivers

     Rising prevalence of chronic lifestyle diseases and intolerance to animal protein

One of the key factors driving market growth is the rising prevalence of chronic lifestyle diseases and intolerance to animal protein. Furthermore, the widespread adoption of vegan eating habits around the world is propelling market growth. With rising consumer awareness of animal health and the prevention of cruelty to animals in the food industry, there is a shift in global preference for plant-based food products. As a result, the market has a more positive outlook.

  • Rise in Social Media Marketing

Furthermore, the development of novel products, such as plant-based milk, eggs, and meat, is stimulating growth. These products are high in essential nutrients and taste almost identical to their animal-derived counterparts. Other factors, such as extensive promotional activities by celebrities and athletes to encourage the consumption of vegetarian products in order to maintain a healthy lifestyle and the ease of product availability via proliferating online retail channels, are expected to drive the market even further.​​​​​​​

Opportunity

  • Rising number of lactose intolerance people

Lactose intolerance is one of the most recent opportunities for a global market. The vast majority of the world's population will remain lactose intolerant. This segment of the global population will always require a lactose-free alternative, which the plant-based food industry can provide. Another possibility is the sustainable living movement, which advocates for climate- and animal-safe foods. As people make more environmentally conscious choices to reduce their domestic carbon footprint, the global market is paying close attention to an excellent opportunity for plant-based food market.

Restraints

  • Variation in taste and flavor authenticity

Plant-based products do not have the same flavor as animal-based products. As a result, a portion of the world's population may oppose the consumption of plant-based foods. Furthermore, some people are allergic to plant-based proteins and nutrients. As a result, plant-based foods may not be a widely accepted food alternative.

This global plant-based food market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global plant-based food market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

  • In 2019, In response to rising demand for plant-based burgers, Grill'd, an Australian food chain focused on burger innovation, introduced the Beyond Burger
  • In April 2019, Linda McCartney Foods, a British food brand, introduced meat-free sausages made from pea protein. In the same month, Veggie Grill, a restaurant chain based in the United States that serves only plant-based foods, announced plans to open 50 new locations across the country

 Global Plant-Based Food Market Scope

The global plant-based food market is segmented on the basis of product type, category and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Non-Dairy Milk
  • Dairy Products
  • Bakery and Confectionery
  • Sweet and Savoury Snacks
  • RTE and RTC Meals
  • Others

Category

  • Organic
  • Conventional

Distribution Channel

  • Store based
  • Non store based

Global Plant-Based Food Market Regional Analysis/Insights

The global plant-based food market is analysed and market size insights and trends are provided by country, product type, category and distribution channel as referenced above.

The countries covered in the global plant-based food market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is thought to have the largest share of the global plant-based food market. North America's leading position in the plant-based food market can be attributed to factors such as consumer awareness of the importance of protein-rich diets, increased health consciousness, a well-established food sector, and higher adoption of technological advancements in the food and beverage industry.

The Asia-Pacific market is showing signs of strong future growth in the global plant-based food market. The high market growth in Asia-Pacific can be attributed to factors such as increased adoption of emerging technologies for product innovation, collaborations between international and domestic food companies, increased R&D investments by governments in the food sector, and the presence of a large number of key players in the market.  

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. 

Competitive Landscape and Global Plant-Based Food Market Share Analysis

The global plant-based food market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global plant-based food market.

Some of the major players operating in the global plant-based food market are:

  • Bayer AG (Germany)
  • Abbott (U.S.)
  • DSM (Netherlands)
  • DuPont. (U.S.)
  • Amway (U.S.)
  • The Nature's Bounty Co. (U.S.)
  • GSK plc. (U.K.)
  • Nestlé SA (Switzerland)
  • RiceBran Technologies (U.S.)
  • Mead Johnson & Company, LLC. (U.S.)
  • Medifast, Inc. (U.S.)
  • Premier Nutrition Corporation (U.S.)
  • TOOTSI IMPEX Inc. (Canada)
  • U.S. Spice Mills, Inc. (U.S.)
  • Health Food Manufacturers' Association (U.K.)
  • NOW Foods (U.S.)
  • Glanbia PLC (Ireland)
  • Herbalife International of America, Inc. (U.S.)
  • Bionova (India)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

Plant-Based Food Market will be worth USD 112,033.72 million by 2030.
Plant-Based Food Market growth rate is 25.7% during the forecast period.
Rising prevalence of chronic lifestyle diseases and intolerance to animal protein and Rise in Social Media Marketing are the growth drivers of the Plant-Based Food Market.
product type, category and distribution channel are the factors on which the Plant-Based Food Market research is based.
Linda McCartney Foods, a British food brand, introduced meat-free sausages made from pea protein. In the same month, Veggie Grill, a restaurant chain based in the United States that serves only plant-based foods, announced plans to open 50 new locations across the country are the latest developments in the Plant-Based Food Market.
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