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Plant-based Food Market
Plant-based Food Market by Type (Dairy Alternatives, Plant-based Meat, Meals, Confectionery, Beverages, Egg Alternatives, Seafood), Source (Soy, Wheat, Pea, Rice), Distribution Channel (B2B, B2C [Convenience Store, Online Retail]) - Global Forecast to 2031
Report ID:MRFB - 104412 Pages: 315 Mar-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 48 HoursThe Plant-based Food Market was valued at $44.4 billion in 2023. This market is expected to reach $113.1 billion by 2031, from an estimated $50.1 billion in 2024, at a CAGR of 12.3% during the forecast period 2024-2031.
Plant-based Food Market Size & Forecast
This market's growth is driven by the increasing intolerance for animal-derived protein amongst consumers, the growing vegetarian population, the rising number of venture investments in plant-based food companies, innovation in food technology, and the growing focus on animal welfare and sustainability. In addition, the increasing number of research & development and new product launches by plant and protein alternative manufacturers and emerging economies, such as Asia-Pacific, Latin America, and the Middle East & Africa, are expected to create lucrative opportunities for players operating in this market.
However, factors such as the comparatively higher price range of meat substitutes, significant preference for animal-based products, and consumer preference for soy and gluten-free products are expected to hinder the growth of this market to a notable extent.
Plant-based Food Market: Competitive Analysis
The report includes a competitive analysis based on an extensive assessment of the key growth strategies adopted by leading market players in the past three to four years and the benchmarking of key players' product offerings by type. The key players profiled in the plant-based food market are Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), Danone S.A. (France), Garden Protein International, Inc. (Canada), Amy's Kitchen Inc. (U.S.), Plamil Foods Ltd. (U.K.), The Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Sanitarium Health and Wellbeing Company (Australia), Daiya Foods Inc. (Canada), Earth's Own Food Company Inc. (Canada), Lightlife Foods, Inc. (U.S.), Taifun –Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), Nutrisoy Pty Ltd. (Australia), Nestlé S.A. (Switzerland), Unilever PLC (U.K.), Sophie’s Kitchen (U.S.), and Eat Just, Inc. (U.S.).
Focus on New Product Launches by Plant-Based Food Manufacturers Supporting Market Growth
Plant-based products are trending and have marked serious growth in vegan product development. Across the food value chain, companies are looking to generate growth through innovation and product development in plant-based products, both within their legacy brands and by creating new product offerings. Some plant-based product developments in the global market are as follows:
- In March 2024, Gosh! Food Limited (U.K.), a plant-based food brand, launched street food and glaze & grill BBQ kits.
- In March 2024, Califia Farms, LLC (U.S.) launched plant-based creamers in three flavors: lavender, brown sugar, and vanilla.
- In December 2023, Konscious Foods (Canada) launched frozen plant-based sushi, poke bowls, and onigiri in 4,500 retailers across North America.
- In September 2022, The Better Food Foundation (U.S.) launched its canned vegan meat in the US, along with other products such as cold cuts, patties, and meatballs.
- In October 2021, Nestlé S.A. (Switzerland) launched Garden Gourmet vEGGie, a plant-based alternative to eggs, and Garden Gourmet Vrimp, a plant-based alternative to shrimp.
- In July 2021, Beyond Meat (U.S.) launched Beyond Meatballs in the Netherlands and Switzerland. These meatballs are available at 450 Albert Heijn stores throughout the Netherlands and purchased through the online supermarket Picnic. In Switzerland, Beyond Meatballs are found across 120 COOP stores.
- In April 2020, Daiya Foods (Canada) launched veggie crust pizzas or plant-based frozen pizzas with a vegetable-blend crust of cauliflower, sweet potato, and spinach. As a part of this development, the company introduced cutting-board cheese shreds, gluten-free thin-crust pizzas, veggie crust pizzas, and burritos in the market.
Likewise, many food innovators are exploring new formulations to impact the existing protein supply chain, showcasing the opportunity for vendors in the global plant-based food market.
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Venture Investments in Plant-based Food Companies Accelerating the Expansion of Plant-based Food Market
In recent years, the plant-based foods industry has witnessed an influx of investments aimed at capitalizing on the veganism trend and the surging demand for sustainable foods. Alongside the growing risk profile of livestock production, well-established meat and dairy players are increasingly under attack by animal welfare groups. Protein diversification has the potential to transform a food company’s core business and value proposition.
The growing trend of millennials adopting flexitarian and meat-free diets signals a change in purchasing habits that significantly shift from earlier generations. However, the plant-based movement is bigger than any one generation. Everyone, from celebrities to athletes to entire companies, including Google, and countries as big as China, are supporting the movement to eat more plant-based foods. The key players across the food value chain, from producers to retailers, are already investing in these opportunities.
Some companies are hedging against or preparing for the decline of demand for animal products by investing in other companies producing alternatives. The market has received investments and funding from several high-profile individuals, financial investors, and companies in the past few years. According to the Good Food Institute, in 2022, the alternative proteins industry received USD 2.9 billion in disclosed investments. In the same year, plant-based meat, egg, and dairy companies received USD 1.9 billion in investments, a significant increase over USD 693 million raised in 2019. Plant-based meat, seafood, egg, and dairy companies have raised USD 6.3 billion in investments since 2010.
Some of these investments are as follows:
- In January 2023, No Meat Factory, a Canadian plant-based meat manufacturer, secured USD 42 million in Series B funding. The funding round was led by Tengelmann Growth Partners and Emil Capital Partners.
- In July 2022, Meati (U.S.), a plant-based meat manufacturer, raised USD 150 million in Series C funding to increase its output.
- In July 2021, NotCo (Chile), a plant-based meat and dairy substitute manufacturer, raised USD 235 million in a Series D funding round. With roots in both Latin America and North America, NotCo had raised USD 370 million in total as of 2022.
- As of January 2021, Sweden-based milk alternative business Sproud (founded in 2018) had received GBP 4.8 million (USD 6.5 million) in funding from venture capital investor VGC partners from London. The company produces a range of plant-based milks using split yellow peas.
- In March 2020, Impossible Foods Inc. (U.S.) raised USD 1.3 billion in venture capital from noteworthy investors, including Bill Gates.
- In February 2020, Alpha Foods (U.S.), a vegetarian prepared food manufacturer, raised USD 28 million in financing for its portfolio of vegetarian burritos, tamales, nuggets, pizzas, burgers, patties, and sausages.
Thus, growing venture capital investments in plant-based product companies are expected to drive the global plant-based food market.
Key Findings in the Global Plant-based Food Market Study:
In 2024, the Dairy Alternatives Segment is Expected to Account for the Largest Share of the Plant-based Food Market
Based on type, the plant-based food market is segmented into dairy alternatives, meat substitutes, plant-based meals, plant-based baked goods, plant-based confectionery, plant-based beverages, egg substitutes, fish and seafood alternatives, and other plant-based foods. In 2024, the dairy alternatives segment is expected to account for the largest share of the plant-based food market. The large market share of this segment is attributed to factors such as the increasing number of lactose intolerant people, the growing ethical concerns amongst consumers about animal abuse in modern dairy farming practices, and the nutritional benefits offered by plant-based dairy products.
However, the egg substitute segment is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the increasing consumer demand for egg alternatives, the rising number of investments and food innovations in egg alternatives, the increasing number of new product launches, and the low cholesterol levels provided by egg substitutes.
Pea Segment is Projected to Witness Significant Growth in the Market During 2024–2031
Based on source, the plant-based food market is segmented into soy, almond, wheat, pea, rice protein, and other sources. In 2024, the soy segment is expected to account for the largest share of the plant-based food market. The large market share of this segment is attributed to factors such as the easy and wide availability of raw materials, lower cost compared to other sources, significant demand from meat alternatives manufacturers, higher consumer acceptance level, and its wide range of applications in numerous food & beverage sectors, including meat, dairy alternative, and bakery.
However, the pea segment is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the increasing desire amongst consumers to find sustainable and good-tasting alternatives to animal-based proteins, the rising number of investments from leading manufacturers to increase pea protein production, and the growing adoption of pea protein in plant-based foods. In addition, peas are allergen-free, gluten-free, and lactose-free, which further increases the demand for pea-based food.
In 2024, the Business-to-Consumer Segment is Expected to Account for the Largest Share of the Plant-based Food Market
Based on distribution channel, the plant-based food market is segmented into business-to-business and business-to-consumer. In 2024, the B2C segment is expected to account for a larger share of the plant-based food market. This segment's large market share is attributed to factors such as the increased sales of plant-based food in well-established supermarkets and hypermarket chains, consumer preference for shopping from brick-and-mortar grocers due to easy access and availability, and the increasing consumer expenses on vegan food products.
Additionally, this segment is also expected to grow at the fastest CAGR during the forecast period due to the rapidly growing online retail sector. The rapid growth of this segment is mainly attributed to the faster accessibility, convenience, and cost-effectiveness offered by the online retail sector.
Asia-Pacific: The Dominating Regional Market
Based on geography, in 2024, Asia-Pacific is expected to account for the largest share of the plant-based food market. The leading position of Asia-Pacific in the plant-based food market is attributed to factors such as collaborations between international and domestic food companies, increasing protein-rich diet awareness, booming food & beverages industry, growing economy, rapid urbanization, and the large base of vegan and vegetarian population. Additionally, this country is expected to grow at the fastest CAGR during the forecast period due to increasing investment in the plant-based sector and the growing adoption of emerging technologies for product innovation.
Plant-based Food Market Report Summary:
|
Particular |
Details |
|
Page No. |
~315 |
|
Format |
|
|
Forecast Period |
2024–2031 |
|
Base Year |
2023 |
|
CAGR |
12.3% |
|
Market Size (Value) |
USD 113.1 Billion |
|
Segments Covered |
By Type
By Source
By Distribution Channel
|
|
Countries/Regions Covered |
North America (U.S., Canada), Europe (Germany, U.K., Spain, Italy, France, Netherlands, Belgium, Austria, Poland, Portugal, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Thailand, South Korea, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa |
|
Key Companies |
Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), Danone S.A. (France), Garden Protein International, Inc. (Canada), Amy's Kitchen Inc. (U.S.), Plamil Foods Ltd. (U.K.), The Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Sanitarium Health and Wellbeing Company (Australia), Daiya Foods Inc. (Canada), Earth's Own Food Company Inc. (Canada), Lightlife Foods, Inc. (U.S.), Taifun –Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), Nutrisoy Pty Ltd. (Australia), Nestlé S.A. (Switzerland), Unilever PLC (U.K.), Sophie’s Kitchen (U.S.), and Eat Just, Inc. (U.S.). |
Key questions answered in the report:
The plant-based food market is projected to reach $113.1 billion by 2031, at a CAGR of 12.3% during the forecast period.
The dairy alternatives segment is expected to account for the largest share of the plant-based food market in 2024.
The business-to-consumer segment is projected to record the highest CAGR during the forecast period of 2024–2031.
This market's growth is driven by the increasing intolerance for animal protein amongst consumers, the growing vegetarian population, the rising number of venture investments in plant-based food companies, innovation in food technology, and the growing focus on animal welfare and sustainability. In addition, the increasing number of research & development and new product launches by plant and protein alternative manufacturers and emerging economies, such as Asia-Pacific, Latin America, and the Middle East & Africa, are expected to create lucrative opportunities for players operating in this market.
Countries from Asia-Pacific and Latin America are projected to offer significant growth opportunities for vendors in this market.
The key players profiled in the plant-based food market study are Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), Danone S.A. (France), Garden Protein International, Inc. (Canada), Amy's Kitchen Inc. (U.S.), Plamil Foods Ltd. (U.K.), The Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Sanitarium Health and Wellbeing Company (Australia), Daiya Foods Inc. (Canada), Earth's Own Food Company Inc. (Canada), Lightlife Foods, Inc. (U.S.), Taifun –Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), Nutrisoy Pty Ltd. (Australia), Nestlé S.A. (Switzerland), Unilever PLC (U.K.), Sophie’s Kitchen (U.S.), and Eat Just, Inc. (U.S.).
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.2. Process of Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecast
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.3.3. Market Share Estimation Approach
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Segment Analysis
3.2.1. Plant-based Food Market, by Type
3.2.2. Plant-based Food Market, by Source
3.2.3. Plant-based Food Market, by Distribution Channel
3.3. Plant-based Food Market: by Region
3.4. Market Competitors
4. Market Insights
4.1. Overview
4.2. Drivers
4.2.1. Increasing Intolerance for Animal Protein Amongst Consumers
4.2.2. Growing Vegetarian Population
4.2.3. Rising Number of Venture Investments in Plant-based Food Companies
4.2.4. Innovation in Food Technology
4.2.5. Growing Focus on Animal Welfare and Sustainability
4.3. Restraints
4.3.1. Comparatively Higher Price Range of Meat Substitutes
4.3.2. Significant Preference for Animal-based Products
4.3.3. Consumer Preference for Soy and Gluten-Free Products
4.4. Opportunities
4.4.1. Product Launches by Plant-based Food and Alternative Protein Manufacturers
4.4.2. Emerging Economies
4.5. Trends
4.5.1. Rising Industry Concentration with Growth in Mergers and Acquisitions in the Plant-based Food Space
4.6. Porters Five Forces Analysis
4.6.1. Bargaining Power of Suppliers
4.6.2. Bargaining Power of Buyers
4.6.3. Threat of Substitutes
4.6.4. Threat of New Entrants
4.6.5. Degree of Competition
4.7. Value Chain Analysis
5. Global Plant-based Food Market Assessment—by Type
5.1. Overview
5.2. Dairy Alternatives
5.2.1. Milk
5.2.2. Cheese
5.2.3. Yogurt
5.2.4. Butter
5.2.5. Ice Cream
5.2.6. Creamer
5.2.7. Other Dairy Alternatives
5.3. Meat Substitutes
5.3.1. Tofu
5.3.2. Textured Vegetable Protein (TVP)
5.3.3. Burger Patties
5.3.4. Tempeh
5.3.5. Hot Dogs & Sausages
5.3.6. Seitan
5.3.7. Meatballs
5.3.8. Ground Meat
5.3.9. Nuggets
5.3.10. Crumbles
5.3.11. Shreds
5.3.12. Other Meat Substitutes
5.4. Plant-based Meals
5.5. Plant-based Baked Goods
5.6. Plant-based Confectionery
5.7. Plant-based Beverages
5.8. Egg Substitute
5.9. Fish and Seafood Alternatives
5.10. Others Plant-based Food
6. Global Plant-based Food Market Assessment—by Source
6.1. Overview
6.2. Soy
6.3. Almond
6.4. Wheat
6.5. Pea
6.6. Rice
6.7. Oat
6.8. Other Sources
7. Global Plant-based Food Market Assessment—by Distribution Channel
7.1. Overview
7.2. Business-to-Business
7.3. Business-to-Consumer
7.3.1. Modern Groceries
7.3.2. Convenience Stores
7.3.3. Specialty Stores
7.3.4. Online Retail Stores
7.3.5. Other B2C Distribution Channels
8. Plant-based Food Market Assessment—by Geography
8.1. Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Europe
8.3.1. Germany
8.3.2. U.K.
8.3.3. Spain
8.3.4. Italy
8.3.5. France
8.3.6. Netherlands
8.3.7. Belgium
8.3.8. Austria
8.3.9. Poland
8.3.10. Portugal
8.3.11. Netherlands
8.3.12. Rest of Europe
8.4. Asia-Pacific
8.4.1. China
8.4.2. Japan
8.4.3. India
8.4.4. Australia
8.4.5. Thailand
8.4.6. South Korea
8.4.7. Rest of Asia-Pacific
8.5. Latin America
8.5.1. Brazil
8.5.2. Mexico
8.5.3. Argentina
8.5.4. Rest of Latin America
8.6. Middle East & Africa
9. Competition Analysis
9.1. Overview
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Competitive Dashboard
9.4.1. Industry Leaders
9.4.2. Differentiators
9.4.3. Vanguards
9.4.4. Emerging Companies
9.5. Market Share/Ranking Analysis of Key Players
10. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
10.1. Beyond Meat Inc.
10.2. Impossible Foods Inc.
10.3. Danone S.A.
10.4. Garden Protein International, Inc.
10.5. Amy's Kitchen Inc.
10.6. Plamil Foods Ltd.
10.7. The Hain Celestial Group, Inc.
10.8. Sahmyook Foods
10.9. Sanitarium Health and Wellbeing Company
10.10. Daiya Foods Inc.
10.11. Earth's Own Food Company Inc.
10.12. Lightlife Foods, Inc.
10.13. Taifun –Tofu GmbH
10.14. Atlantic Natural Foods LLC
10.15. VBIte Food Ltd
10.16. Nutrisoy Pty Ltd.
10.17. Nestlé S.A.
10.18. Unilever PLC
10.19. Sophie’s Kitchen
10.20. Eat Just, Inc.
10.21. Other Companies
(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)
11. Appendix
11.1. Available Customization
11.2. Related Reports
List of Tables
Table 1 Price Comparison Between Meat and Meatless Items at Fast-Food Chains (2021)
Table 2 Global Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 3 Global Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 4 Plant-based Dairy Alternatives Market, by Country/Region, 2022–2031 (USD Million)
Table 5 Plant-based Milk Market, by Country/Region, 2022–2031 (USD Million)
Table 6 Plant-based Cheese Market, by Country/Region, 2022–2031 (USD Million)
Table 7 Plant-based Yogurts Market, by Country/Region, 2022–2031 (USD Million)
Table 8 Plant-based Butter Market, by Country/Region, 2022–2031 (USD Million)
Table 9 Plant-based Ice Cream Market, by Country/Region, 2022–2031 (USD Million)
Table 10 Plant-based Creamer Market, by Country/Region, 2022–2031 (USD Million)
Table 11 Other Plant-based Dairy Alternatives Market, by Country/Region, 2022–2031 (USD Million)
Table 12 Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 13 Plant-based Meat Substitutes Market, by Country/Region, 2022–2031 (USD Million)
Table 14 Plant-based Tofu Market, by Country/Region, 2022–2031 (USD Million)
Table 15 Plant-based TVP Market, by Country/Region, 2022–2031 (USD Million)
Table 16 Plant-based Burger Patties Market, by Country/Region, 2022–2031 (USD Million)
Table 17 Plant-based Tempeh Market, by Country/Region, 2022–2031 (USD Million)
Table 18 Plant-based Hot Dogs and Sausages Market, by Country/Region, 2022–2031 (USD Million)
Table 19 Plant-based Seitan Market, by Country/Region, 2022–2031 (USD Million)
Table 20 Plant-based Meatballs Market, by Country/Region, 2022–2031 (USD Million)
Table 21 Plant-based Ground Meat Market, by Country/Region, 2022–2031 (USD Million)
Table 22 Plant-based Nuggets Market, by Country/Region, 2022–2031 (USD Million)
Table 23 Plant-based Crumbles Market, by Country/Region, 2022–2031 (USD Million)
Table 24 Plant-based Shreds Market, by Country/Region, 2022–2031 (USD Million)
Table 25 Other Plant-based Meat Substitutes Market, by Country/Region, 2022–2031 (USD Million)
Table 26 Plant-based Meals Market, by Country/Region, 2022–2031 (USD Million)
Table 27 Plant-based Baked Goods Market, by Country/Region, 2022–2031 (USD Million)
Table 28 Plant-based Confectionery Market, by Country/Region, 2022–2031 (USD Million)
Table 29 Plant-based Beverages Market, by Country/Region, 2022–2031 (USD Million)
Table 30 Plant-based Egg Substitutes Market, by Country/Region, 2022–2031 (USD Million)
Table 31 Plant-based Fish and Seafood Alternatives Market, by Country/Region, 2022–2031 (USD Million)
Table 32 Other Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 33 Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 34 Soy Derived Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 35 Almond-Derived Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 36 Wheat-Derived Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 37 Pea-Derived Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 38 Rice-Derived Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 39 Oat-Derived Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 40 Other Source-Derived Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 41 Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 42 B2B Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 43 B2C Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 44 B2C Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 45 Plant-based Food Market Size for Modern Groceries, by Country/Region, 2022–2031 (USD Million)
Table 46 Plant-based Food Market Size for Convenience Stores, by Country/Region, 2022–2031 (USD Million)
Table 47 Plant-based Food Market Size for Specialty Stores, by Country/Region, 2022–2031 (USD Million)
Table 48 Plant-based Food Market Size for Online Retail Stores, by Country/Region, 2022–2031 (USD Million)
Table 49 Plant-based Food Market Size for Other B2C Distribution Channels, by Country/Region, 2022–2031 (USD Million)
Table 50 Plant-based Food Market, by Country/Region, 2022–2031 (USD Million)
Table 51 North America: Plant-based Food Market, by Country, 2022–2031 (USD Million)
Table 52 North America: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 53 North America: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 54 North America: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 55 North America: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 56 North America: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 57 North America: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 58 U.S.: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 59 U.S.: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 60 U.S.: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 61 U.S.: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 62 U.S.: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 63 U.S.: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 64 Canada: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 65 Canada: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 66 Canada: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 67 Canada: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 68 Canada: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 69 Canada: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 70 Europe: Plant-based Food Market, by Country, 2022–2031 (USD Million)
Table 71 Europe: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 72 Europe: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 73 Europe: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 74 Europe: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 75 Europe: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 76 Europe: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 77 Germany: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 78 Germany: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 79 Germany: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 80 Germany: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 81 Germany: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 82 Germany: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 83 U.K.: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 84 U.K.: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 85 U.K.: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 86 U.K.: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 87 U.K.: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 88 U.K.: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 89 Spain: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 90 Spain: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 91 Spain: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 92 Spain: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 93 Spain: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 94 Spain: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 95 Italy: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 96 Italy: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 97 Italy: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 98 Italy: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 99 Italy: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 100 Italy: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 101 France: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 102 France: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 103 France: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 104 France: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 105 France: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 106 France: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 107 Netherlands: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 108 Netherlands: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 109 Netherlands: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 110 Netherlands: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 111 Netherlands: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 112 Netherlands: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 113 Belgium: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 114 Belgium: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 115 Belgium: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 116 Belgium: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 117 Belgium: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 118 Belgium: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 119 Austria: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 120 Austria: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 121 Austria: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 122 Austria: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 123 Austria: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 124 Austria: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 125 Poland: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 126 Poland: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 127 Poland: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 128 Poland: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 129 Poland: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 130 Poland: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 131 Portugal: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 132 Portugal: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 133 Portugal: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 134 Portugal: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 135 Portugal: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 136 Portugal: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 137 Rest of Europe: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 138 Rest of Europe: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 139 Rest of Europe: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 140 Rest of Europe: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 141 Rest of Europe: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 142 Rest of Europe: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 143 Asia-Pacific: Plant-based Food Market, by Country, 2022–2031 (USD Million)
Table 144 Asia-Pacific: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 145 Asia-Pacific: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 146 Asia-Pacific: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 147 Asia-Pacific: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 148 Asia-Pacific: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 149 Asia-Pacific: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 150 China: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 151 China: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 152 China: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 153 China: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 154 China: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 155 China: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 156 India: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 157 India: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 158 India: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 159 India: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 160 India: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 161 India: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 162 Japan: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 163 Japan: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 164 Japan: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 165 Japan: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 166 Japan: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 167 Japan: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 168 Australia: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 169 Australia: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 170 Australia: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 171 Australia: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 172 Australia: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 173 Australia: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 174 Thailand: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 175 Thailand: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 176 Thailand: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 177 Thailand: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 178 Thailand: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 179 Thailand: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 180 South Korea: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 181 South Korea: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 182 South Korea: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 183 South Korea: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 184 South Korea: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 185 South Korea: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 186 Rest of Asia-Pacific: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 187 Rest of Asia-Pacific: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 188 Rest of Asia-Pacific: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 189 Rest of Asia-Pacific: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 190 Rest of Asia-Pacific: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 191 Rest of Asia-Pacific: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 192 Latin America: Plant-based Food Market, by Country, 2022–2031 (USD Million)
Table 193 Latin America: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 194 Latin America: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 195 Latin America: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 196 Latin America: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 197 Latin America: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 198 Latin America: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 199 Brazil: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 200 Brazil: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 201 Brazil: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 202 Brazil: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 203 Brazil: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 204 Brazil: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 205 Mexico: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 206 Mexico: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 207 Mexico: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 208 Mexico: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 209 Mexico: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 210 Mexico: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 211 Argentina: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 212 Argentina: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 213 Argentina: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 214 Argentina: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 215 Argentina: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 216 Argentina: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 217 Rest of Latin America: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 218 Rest of Latin America: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 219 Rest of Latin America: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 220 Rest of Latin America: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 221 Rest of Latin America: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 222 Rest of Latin America: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 223 Middle East & Africa: Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 224 Middle East & Africa: Plant-based Dairy Alternatives Market, by Type, 2022–2031 (USD Million)
Table 225 Middle East & Africa: Plant-based Meat Substitutes Market, by Type, 2022–2031 (USD Million)
Table 226 Middle East & Africa: Plant-based Food Market, by Source, 2022–2031 (USD Million)
Table 227 Middle East & Africa: Plant-based Food Market, by Distribution Channel, 2022–2031 (USD Million)
Table 228 Middle East & Africa: Business-to-Consumer Plant-based Food Market, by Type, 2022–2031 (USD Million)
Table 229 Total Number of Recent Developments, by Company (2021–2024)
List of Figures
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply Side & Demand Side)
Figure 6 Market Size Estimation
Figure 7 In 2024, the Dairy Alternatives Segment is Expected to Account for the Largest Share of the Plant-based Food Market
Figure 8 Pea Segment is Projected to Witness Significant Growth in the Market During 2024–2031
Figure 9 In 2024, the Business-to-Consumer Segment is Expected to Account for the Larger Share of the Plant-based Food Market
Figure 10 Asia-Pacific to be the Fastest-growing Regional Market
Figure 11 Factors Affecting Market Growth
Figure 12 A Lighthouse for Future Food Consumption
Figure 13 Investments in the Global Alternative Products Industry (2019-2020)
Figure 14 Global Plant-based Food Market: Porter's Five Forces Analysis
Figure 15 Global Plant-based Food Market Value Chain
Figure 16 Global Plant-based Food Market, by Type, 2024 Vs. 2031 (USD Million)
Figure 17 Global Plant-based Food Market, by Source, 2024 Vs. 2031 (USD Million)
Figure 18 Global Plant-based Food Market, by Distribution Channel, 2024 Vs. 2031 (USD Million)
Figure 19 Global Plant-based Food Market, by Region, 2024 Vs. 2031 (USD Million)
Figure 20 North America: Plant-based Food Market Snapshot (2024)
Figure 21 Europe: Plant-based Food Market Snapshot (2024)
Figure 22 Asia-Pacific: Plant-based Food Market Snapshot (2024)
Figure 23 Latin America: Plant-based Food Market Snapshot (2024)
Figure 24 Middle East & Africa: Plant-based Food Market Snapshot (2024)
Figure 25 Key Growth Strategies Adopted by Leading Players, 2021–2024
Figure 26 Plant-based Food Market: Competitive Benchmarking of Key Players, by Type
Figure 27 Global Plant-based Food Market Competitive Dashboard
Figure 28 Global Plant-based Food Market Share/Ranking, by Key Player, 2023 (%)
Figure 29 Beyond Meat Inc.: Financial Overview (2022)
Figure 30 Danone S.A.: Financial Overview (2023)
Figure 31 Conagra Brands, Inc.: Financial Overview (2022)
Figure 32 The Hain Celestial Group, Inc.: Financial Overview (2022)
Figure 33 Nestlé S.A.: Financial Overview (2023)
Figure 34 Unilever Plc: Financial Overview (2023)
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