Plant-Based Food Market is expected to reach USD 112033.72 Million by 2030 and is expected to undergo a CAGR of 25.70%
Suyog Shinde
Assistant Manager / Team Lead Web Marketing at Data Bridge Market Research Private Ltd.
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?Plant-Based Food Market Size And Forecast by 2031
Data Bridge Market Research analyses that the Global Plant-Based Food Market which was USD 17963.65 Million in 2022 is expected to reach USD 112033.72 Million by 2030 and is expected to undergo a CAGR of 25.70% during the forecast period of 2022 to 2030. Plant-Based Food Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of? Size, Share, Scope, Demand, Growth, Value, Opportunities, Industry Statistics, Industry Trends, Industry Share, Revenue Analysis, Revenue Forecast, Future Scope, Challenges, Growth Drivers, leaders, graph, insights, Research Report, companies, overview, outlook?and factors that are playing a substantial role in the market.
Global Plant-Based Food Market Segmentation Analysis
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.
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?Which are the top companies operating in the Plant-Based Food Market?
The “Global Plant-Based Food Market ”study report will provide a valuable insight with an emphasis on the global market. The report profiles noticeable organizations working in the water purifier showcase and the triumphant methodologies received by them. It likewise reveals insights about the share held by each organization and their contribution to the Plant-Based Food Market extension. This Plant-Based Food Market report provides the information of the Top 10 Companies in Plant-Based Food Market in the market their business strategy, financial situation etc.
Segments
- Product Type: The plant-based food market is segmented by product type into dairy alternatives, meat substitutes, plant-based snacks, plant-based beverages, and others. With the increasing demand for dairy-free options, dairy alternatives like plant-based milk, cheese, and yogurt are expected to witness significant growth in the forecasted period. Meat substitutes, such as tofu, tempeh, and seitan, are also anticipated to gain traction due to the rising popularity of vegetarian and vegan diets. Plant-based snacks and beverages, including energy bars, nut milk, and plant-based juices, are likely to emerge as key segments within the market.
- Source: Based on the source of ingredients, the plant-based food market can be categorized into vegetables, fruits, grains, legumes, and others. Consumers are increasingly seeking products made from natural and sustainable sources, driving the demand for plant-based foods derived from a variety of sources. Vegetables and legumes are expected to dominate this segment, benefiting from their nutritional value and versatility in product formulations.
- Distribution Channel: The market is segmented by distribution channel into supermarkets/hypermarkets, specialty stores, online retail, and others. Supermarkets and hypermarkets remain the primary distribution channel for plant-based foods, offering a wide range of products to consumers in one convenient location. However, online retail is gaining momentum, providing consumers with easy access to a diverse selection of plant-based options and catering to the growing trend of e-commerce in the food industry.
Market Players
- Beyond Meat, Inc.: Beyond Meat has established itself as a leading player in the plant-based food market, offering a range of innovative meat substitutes made from plant-based ingredients. The company's products are widely available in retail outlets and foodservice establishments, catering to the demand for sustainable and cruelty-free alternatives to traditional animal-based proteins.
- Impossible Foods Inc.: Impossible Foods is known for its flagship product, the Impossible Burger, which has gained widespread popularity for its strikingBeyond Meat, Inc. and Impossible Foods Inc. are two significant players in the plant-based food market that have made a substantial impact on the industry with their innovative products and marketing strategies. Beyond Meat has differentiated itself by offering a diverse range of meat substitutes that closely mimic the taste and texture of traditional animal-based proteins. The company's success can be attributed to its focus on product development, strategic partnerships with retailers and foodservice providers, and effective marketing campaigns that promote the sustainability and health benefits of plant-based diets. Beyond Meat's strong brand presence and commitment to quality have helped position it as a frontrunner in the market, appealing to a broad spectrum of consumers looking to make dietary choices aligned with their values.
On the other hand, Impossible Foods Inc. has also made a significant mark with its flagship product, the Impossible Burger. The company has leveraged innovative technology to create plant-based meat alternatives that are virtually indistinguishable from conventional meat products, attracting consumers seeking sustainable and environmentally friendly options. Impossible Foods' emphasis on taste and culinary experience has resonated with customers and has led to partnerships with major fast-food chains and restaurants, expanding its reach and accessibility to a wider audience. By focusing on the sensory aspects of food, Impossible Foods has successfully captured a segment of the market that prioritizes flavor and texture in plant-based offerings, further fueling the growth of the plant-based food industry as a whole.
Both Beyond Meat and Impossible Foods have demonstrated the potential of plant-based foods to disrupt traditional food systems and meet the evolving demands of modern consumers. Their success has sparked increased competition in the market, leading to a wave of new product developments and investments in plant-based innovation. As awareness of the environmental and health benefits of plant-based diets continues to grow, companies like Beyond Meat and Impossible Foods are well-positioned to capitalize on shifting consumer preferences and drive further expansion of the plant-based food market. With their commitment to sustainability, flavor, and accessibility, these market players are poised to shape the future of food**Market Players**
- 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.) - Bionova (India)
Market Analysis
The plant-based food market continues to experience substantial growth driven by shifting consumer preferences towards healthier and more sustainable food choices. The segmentation of the market by product type into dairy alternatives, meat substitutes, plant-based snacks, and beverages highlights the diverse range of offerings that cater to the increasing demand for plant-based options. With the rise in awareness about the environmental impact of animal agriculture and the health benefits associated with plant-based diets, companies like Beyond Meat and Impossible Foods have paved the way for innovation and expansion within the industry.
The segmentation based on the source of ingredients further emphasizes the importance of natural and sustainable sourcing practices in
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Research Methodology of Data bridge Market Research:
Data Bridge Market Research typically follows a comprehensive research methodology for analyzing and reporting on market trends, including the Plant-Based Food Market. The research methodology generally involves the following steps:
1. Data Collection
2. Market Segmentation and Data Analysis
3. Market Estimation
4. Validation
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5. Report Compilation and Presentation
6. Ongoing Updates
This structured approach ensures that the research conducted by Data Bridge Market Research is thorough, accurate, and provides actionable insights for stakeholders in the Plant-Based Food Market.
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