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Global Plant-Based Food Market to Grow at 12.29% During 2022-2027, Propelled by the Development of Innovative Products

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
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Plant-Based Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global plant-based food market is expected to exhibit a CAGR of 12.29% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Plant-based food refers to various food products derived from natural plant-sourced ingredients. These products are usually manufactured using fruits, vegetables, nuts, oils, whole grains and legumes and do not contain any animal-sourced ingredients, such as meat, milk or eggs. Some of the commonly used plant-based food products include tofu, coconut and almond milk, tempeh and seitan. A balanced diet with these products is a rich source of vitamins B1, C and E, folic acid, magnesium and iron and contains minimal cholesterol and saturated fats. With regular consumption, they may also aid in minimizing the risks of heart and metabolic disorders, diabetes, obesity, high blood pressure and certain types of cancers.

 

 
 

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Global Plant-Based Food Market Trends:

The increasing prevalence of chronic lifestyle diseases and intolerance for animal protein represents one of the key factors driving the growth of the market. Furthermore, the widespread adoption of vegan dietary habits across the globe is also driving the market growth. With the rising consciousness among consumers regarding animal health and the prevention of cruelty against animals in the food industry, there is a shift in the preference for plant-based food products across the globe. This, in turn, is creating a positive outlook for the market. Additionally, the development of innovative products, such as plant-based milk, eggs and meat, is acting as another growth-inducing factor. These products are rich in essential nutrients and are nearly identical in taste to their animal-sourced counterparts. Other factors, including extensive promotional activities by celebrities and athletes to encourage the consumption of vegetarian products to maintain a healthy lifestyle and the easy product availability through proliferating online retail channels, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global plant-based food market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, source and distribution channel.

Breakup by Type:

 

 
 

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  • Dairy Alternatives
  • Meat Alternatives
  • Egg Substitutes and Condiments
  • Others
     

Breakup by Source:

  • Soy
  • Almond
  • Wheat
  • Others
     

Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Online Stores
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amy's Kitchen Inc., Atlantic Natural Foods LLC, Beyond Meat Inc., Danone SA, Garden Protein International Inc., Impossible Foods Inc., Lightlife Foods, Inc. (Maple Leaf Foods Inc.), Nestle S.A., Tyson Foods Inc. and Vbite Food Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Source, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amy's Kitchen Inc., Atlantic Natural Foods LLC, Beyond Meat Inc., Danone SA, Garden Protein International Inc., Impossible Foods Inc., Lightlife Foods, Inc. (Maple Leaf Foods Inc.), Nestle S.A., Tyson Foods Inc. and Vbite Food Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology
    2.1   Objectives of the Study
    2.2   Stakeholders
    2.3   Data Sources
        2.3.1   Primary Sources
        2.3.2   Secondary Sources
    2.4   Market Estimation
        2.4.1   Bottom-Up Approach
        2.4.2   Top-Down Approach
    2.5   Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1   Overview
    4.2   Key Industry Trends
5   Global Plant-Based Food Market
    5.1   Market Overview
    5.2   Market Performance
    5.3   Impact of COVID-19
    5.4   Market Forecast
6   Market Breakup by Type
    6.1   Dairy Alternatives
        6.1.1   Market Trends
        6.1.2   Market Forecast
    6.2   Meat Alternatives
        6.2.1   Market Trends
        6.2.2   Market Forecast
    6.3   Egg Substitutes and Condiments
        6.3.1   Market Trends
        6.3.2   Market Forecast
    6.4   Others
        6.4.1   Market Trends
        6.4.2   Market Forecast
7   Market Breakup by Source
    7.1   Soy
        7.1.1   Market Trends
        7.1.2   Market Forecast
    7.2   Almond
        7.2.1   Market Trends
        7.2.2   Market Forecast
    7.3   Wheat
        7.3.1   Market Trends
        7.3.2   Market Forecast
    7.4   Others
        7.4.1   Market Trends
        7.4.2   Market Forecast
8   Market Breakup by Distribution Channel
    8.1   Supermarkets and Hypermarkets
        8.1.1   Market Trends
        8.1.2   Market Forecast
    8.2   Convenience Stores
        8.2.1   Market Trends
        8.2.2   Market Forecast
    8.3   Online Stores
        8.3.1   Market Trends
        8.3.2   Market Forecast
    8.4   Others
        8.4.1   Market Trends
        8.4.2   Market Forecast
9   Market Breakup by Region
    9.1   North America
        9.1.1   United States
                 9.1.1.1   Market Trends
                 9.1.1.2   Market Forecast
        9.1.2   Canada
                9.1.2.1   Market Trends
                9.1.2.2   Market Forecast
    9.2   Asia-Pacific
        9.2.1   China
                 9.2.1.1   Market Trends
                 9.2.1.2   Market Forecast
        9.2.2   Japan
                 9.2.2.1   Market Trends
                 9.2.2.2   Market Forecast
        9.2.3   India
                 9.2.3.1   Market Trends
                 9.2.3.2   Market Forecast
        9.2.4   South Korea
                 9.2.4.1   Market Trends
                 9.2.4.2   Market Forecast
        9.2.5   Australia
                 9.2.5.1   Market Trends
                 9.2.5.2   Market Forecast
        9.2.6   Indonesia
                 9.2.6.1   Market Trends
                 9.2.6.2   Market Forecast
        9.2.7   Others
                 9.2.7.1   Market Trends
                 9.2.7.2   Market Forecast
    9.3   Europe
        9.3.1   Germany
                 9.3.1.1   Market Trends
                 9.3.1.2   Market Forecast
        9.3.2   France
                 9.3.2.1   Market Trends
                 9.3.2.2   Market Forecast
        9.3.3   United Kingdom
                 9.3.3.1   Market Trends
                 9.3.3.2   Market Forecast
        9.3.4   Italy
                 9.3.4.1   Market Trends
                 9.3.4.2   Market Forecast
        9.3.5   Spain
                 9.3.5.1   Market Trends
                 9.3.5.2   Market Forecast
        9.3.6   Russia
                 9.3.6.1   Market Trends
                 9.3.6.2   Market Forecast
        9.3.7   Others
                 9.3.7.1   Market Trends
                 9.3.7.2   Market Forecast
    9.4   Latin America
        9.4.1   Brazil
                 9.4.1.1   Market Trends
                 9.4.1.2   Market Forecast
        9.4.2   Mexico
                 9.4.2.1   Market Trends
                 9.4.2.2   Market Forecast
        9.4.3   Others
                 9.4.3.1   Market Trends
                 9.4.3.2   Market Forecast
    9.5   Middle East and Africa
        9.5.1   Market Trends
        9.5.2   Market Breakup by Country
        9.5.3   Market Forecast
10  SWOT Analysis
    10.1   Overview
    10.2   Strengths
    10.3   Weaknesses
    10.4   Opportunities
    10.5   Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis
    12.1   Overview
    12.2   Bargaining Power of Buyers
    12.3   Bargaining Power of Suppliers
    12.4   Degree of Competition
    12.5   Threat of New Entrants
    12.6   Threat of Substitutes
13  Price Analysis
14  Competitive Landscape
    14.1   Market Structure
    14.2   Key Players
    14.3   Profiles of Key Players
        14.3.1   Amy's Kitchen Inc. 
             14.3.1.1   Company Overview
             14.3.1.2   Product Portfolio
        14.3.2   Atlantic Natural Foods LLC
             14.3.2.1   Company Overview
             14.3.2.2   Product Portfolio
        14.3.3   Beyond Meat Inc. 
             14.3.3.1   Company Overview
             14.3.3.2   Product Portfolio
             14.3.3.3   Financials
        14.3.4   Danone SA
             14.3.4.1   Company Overview
             14.3.4.2   Product Portfolio
             14.3.4.3   Financials
             14.3.4.4   SWOT Analysis
        14.3.5   Garden Protein International Inc.
             14.3.5.1   Company Overview
             14.3.5.2   Product Portfolio
        14.3.6   Impossible Foods Inc. 
             14.3.6.1   Company Overview
             14.3.6.2   Product Portfolio
        14.3.7   Lightlife Foods Inc. (Maple Leaf Foods Inc.)
             14.3.7.1   Company Overview
             14.3.7.2   Product Portfolio
        14.3.8   Nestle S.A.
             14.3.8.1   Company Overview
             14.3.8.2   Product Portfolio
             14.3.8.3   Financials
             14.3.8.4   SWOT Analysis
        14.3.9   Tyson Foods Inc.
             14.3.9.1   Company Overview
             14.3.9.2   Product Portfolio
             14.3.9.3   Financials
             14.3.9.4   SWOT Analysis
        14.3.10   Vbite Food Ltd.
             14.3.10.1   Company Overview
             14.3.10.2   Product Portfolio

List of Figures

Figure 1: Global: Plant-Based Food Market: Major Drivers and Challenges
Figure 2: Global: Plant-Based Food Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Plant-Based Food Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Plant-Based Food Market: Breakup by Type (in %), 2021
Figure 5: Global: Plant-Based Food Market: Breakup by Source (in %), 2021
Figure 6: Global: Plant-Based Food Market: Breakup by Distribution Channel (in %), 2021
Figure 7: Global: Plant-Based Food Market: Breakup by Region (in %), 2021
Figure 8: Global: Plant-Based Food (Dairy Alternatives) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Plant-Based Food (Dairy Alternatives) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Plant-Based Food (Meat Alternatives) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Plant-Based Food (Meat Alternatives) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Plant-Based Food (Egg Substitutes and Condiments) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Plant-Based Food (Egg Substitutes and Condiments) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Plant-Based Food (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Plant-Based Food (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Plant-Based Food (Soy) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Plant-Based Food (Soy) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Plant-Based Food (Almond) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Plant-Based Food (Almond) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Plant-Based Food (Wheat) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Plant-Based Food (Wheat) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Plant-Based Food (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Plant-Based Food (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Plant-Based Food (Supermarkets and Hypermarkets) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Plant-Based Food (Supermarkets and Hypermarkets) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Plant-Based Food (Convenience Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Plant-Based Food (Convenience Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Plant-Based Food (Online Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Plant-Based Food (Online Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Plant-Based Food (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Plant-Based Food (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: North America: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: United States: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: United States: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Canada: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Canada: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: North America: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Asia-Pacific: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: China: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: China: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Japan: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Japan: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: India: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: India: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: South Korea: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: South Korea: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Australia: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Australia: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Indonesia: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Indonesia: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Others: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Others: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Asia-Pacific: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Europe: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Germany: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Germany: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: France: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: France: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: United Kingdom: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: United Kingdom: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Italy: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Italy: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Spain: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Spain: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Russia: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Russia: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Others: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Others: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Europe: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Latin America: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Brazil: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Brazil: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Mexico: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Mexico: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Others: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Others: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Latin America: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Middle East and Africa: Plant-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Middle East and Africa: Plant-Based Food Market: Breakup by Country (in %), 2021
Figure 80: Middle East and Africa: Plant-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Global: Plant-Based Food Industry: SWOT Analysis
Figure 82: Global: Plant-Based Food Industry: Value Chain Analysis
Figure 83: Global: Plant-Based Food Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Plant-Based Food Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Plant-Based Food Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Plant-Based Food Market Forecast: Breakup by Source (in Million US$), 2022-2027
Table 4: Global: Plant-Based Food Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 5: Global: Plant-Based Food Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Plant-Based Food Market: Competitive Structure
Table 7: Global: Plant-Based Food Market: Key Players


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Key Questions Answered in This Report

We expect the global plant-based food market to exhibit a CAGR of 12.29% during 2022-2027.

The emerging trend of veganism, along with the increasing preference for plant-based foods by health-conscious consumers, owing to their low-calorie and high-protein content, is primarily driving the global plant-based food market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of plant-based food items. 

Based on the type, the global plant-based food market can be segmented into dairy alternatives, meat alternatives, egg substitutes and condiments, and others. Currently, dairy alternatives hold the majority of the total market share.

Based on the source, the global plant-based food market has been divided into soy, almond, wheat, and others. Among these, soy currently exhibits a clear dominance in the market.

Based on the distribution channel, the global plant-based food market can be bifurcated into supermarkets and hypermarkets, convenience stores, online stores, and others. Currently, supermarkets and hypermarkets account for the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.

Some of the major players in the global plant-based food market include Amy's Kitchen Inc., Atlantic Natural Foods LLC, Beyond Meat Inc., Danone SA, Garden Protein International Inc., Impossible Foods Inc., Lightlife Foods, Inc. (Maple Leaf Foods Inc.), Nestle S.A., Tyson Foods Inc., and Vbite Food Ltd.

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