Plant Based Food Market 2020-2025 Share, Size, Growth, Opportunity and Forecast IMARC Group

Press Release:

Global Plant-based Food Market to Witness Moderate Growth During 2021-2026, Propelled by the Development of Innovative Products

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Plant Based Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global plant-based food market grew at a CAGR of around 8% during 2014-2019. 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.

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. Looking forward, IMARC Group expects the global plant-based food market to continue its moderate growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global plant-based food market report, along with forecasts for growth at the global, regional and country-level from 2020-2025. Our report has categorized the market based on region, type, source and distribution channel.

Breakup by Type:

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:

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.

Key Questions Answered in This Report:

How has the global plant-based food market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global plant-based food market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the source?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global plant-based food market and who are the key players?
What is the degree of competition in the industry?