Global Plant-Based Food market was valued over US$ 12.9 Billion in 2019. It is anticipated to grow at a CAGR of 10.6% from 2022 to 2030.
Plant-Based Food contains foods derived entirely from plants including vegetables, grains, nuts, seeds, legumes, and fruits, eggs, milk, cheese, and yogurt. It contains few or no animal products. Plant-based foods are free from cholesterol & saturated fats and typically high in fiber, which is particularly appealing to a healthier lifestyle.
The global plant-based food market is driven by increasing awareness about health consciousness among people; rising incidence of obesity, diabetics, & hypertension; increasing incidences of chronic diseases, ultimately resulting in people becoming particular about their eating habits. Besides lifestyle-related diseases, the increasing count of people suffering from food allergies will also drive market growth. Moreover, the increased demand for organic & natural products is further boosting the plant-based food market. Plant-based food products are high in nutritional value and safe to consume; however, the high cost of such products may restrain market growth.
The global plant-based food market is segmented by product, by type, by application, and by region. Based on the product type, the plant-based food market is segmented into plant-based dairy products, plant-based milk products, plant-based meat products, plant-based egg products, plant-based condiments, and others. The plant-based milk & dairy segment holds a lion’s share of the global plant-based food market. Based on the application, the market can be segmented into the food & beverage processing industry, feed industry, and others. The food & beverage segment contributes to the highest revenue share in the global plant-based protein market.
The global plant-based food market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America and Europe will dominate the global plant-based food market during the forecast period and are expected to grow at the highest rates. The US, Mexico, Canada, the UK, Germany, and France will witness populations switching the vegan diet. However, Asia Pacific is anticipated to grow at the fastest rate with growth focused on developing countries like India and China.
Some prominent players in the global Plant-Based Food Market include Danone, Beyond Meat, Archer Daniels Midland Company, Cargill Incorporated, Fonterra Co-operative Group, SunOpta, Kellogg NA Co., CSC BRANDS, L.P. (Campbell Soup Company), and Kerry Group plc. AMCO Proteins, among others.
At MDC Research, we offer research solutions to help businesses break the barriers of doubt or uncertainties when they plan to expand their growth. Our researchers compile data and information that help chief executive officers decide which growth opportunities in a market to pursue.
MDC Research is known for conducting well-researched reports, and the expertise of our researchers contributes to the outstanding quality of our reports. MDC Research enables businesses to make impactful decisions by blending innovation and analytical thinking. Our unique blend of these two skills assures you access to the most complete and up-to-date information about your industry.
MDC Research has a wealth of experience using the latest methodologies to develop reports for a wide range of clients in diverse markets. Our commitment to delivering high-quality research and creating innovative reports is one of the reasons why MDC Research is such a trusted name in the business world today.
Our Growth Mantra
The MDC Research growth formula provides a way for stakeholders and CXOs to measure the current state of the market.
MDC Research conducts in-deep analysis on growth opportunities, driving factors, and challenges in the market. The stakeholders and CXOs will be able to better handle the situation by knowing about the risks.
Current and Future Trends Analysis
Keeping up with the latest trends is a great way to bring in more customers. When it comes to trends, stakeholders see what's on the surface., Researchers at MDC continually monitor a given market to identify and track emerging trends. These reports are updated regularly so that stakeholders can take advantage of the latest trends and generate revenues.
In-depth Understanding of Industry
Industry analysis provides a company with an understanding of its position relative to other companies in the industry. This can help them identify opportunities and potential threats, so they can prepare for the present and future. MDC Research helps organizations to figure out what's happening in a given industry, including demand and supply statistics, degree of competition, state of competition with other emerging industries, future prospects considering technological changes, and external factors on the industry.
Focused Region/Country Assessment
Demographic analysis is a crucial component of any study on market growth. The MDC Research team assesses every region and country and examines the key points that have a large impact on the growth of a market.
The Impact of COVID-19 on Present and Future Market
MDC Research closely monitors the global outbreak of a new strain of the coronavirus (COVID-19), and it's impact on the total value chain. To provide optimum service to our stakeholders, MDC has assembled a team to evaluate developments, restructure information as needed, and ensure that the information is timely and pertinent.
Analyzing Government Policies / Initiatives / Regulations
Many sectors of the business world have long criticized government regulation as irrational hindrances to profits, economic efficiency, and job creation. The MDC research analysis of government policies, initiatives, and regulations helps stakeholders meet regulatory compliance and benefit from government initiatives in the respective industry.
Today's competitive benchmarking is an opportunity to analyze how a company's competitors are performing and to consider their strengths and weaknesses in relation to your own company's performance. MDC research professionals help our stakeholders to keep track of competitors, identify improvement areas, increase profits, design better go-to-market strategies.
Key Questions Answered in This Report: