Product Code: r6290
“Plant-Based Food Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on plant-based food market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for plant-based food ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The plant-based food market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Type: Diary Alternatives; Meat Alternatives; Egg Substitutes And Condiments; Other Types
- 2) By Source: Soy; Almond; Wheat; Pea; Rice; Other Sources
- 3) By Distribution Channel: Supermarkets And Hypermarkets; Convenience Stores; Online Stores; Other Distribution Channels
- Companies Mentioned: Amy's Kitchen Inc; Atlantic Natural Foods LLC; Beyond Meat Inc; Danone SA; Garden Protein International Inc
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the plant-based food market are Amy's Kitchen Inc, Atlantic Natural Foods LLC, Beyond Meat Inc, Danone SA, Garden Protein International Inc, Impossible Foods Inc, Lightlife Foods Inc, Nestle S A, Tyson Foods Inc, Vbite Food Ltd, Plamil Foods Ltd, The Hain Celestial Group Inc, Sahmyook Foods, Sanitarium Health and Wellbeing Company, Axiom Foods Inc, Daiya Foods Inc, Earth's Own Food Company Inc, Keystone Natural Holdings, General Mills Inc, and Premier Foods PLC.
The global plant-based food market is expected to grow from $44.56 billion in 2022 to $50.47 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The plant-based food market is expected to reach $82.12 billion in 2027 at a CAGR of 12.9%.
The plant-based food market consists of sales of tofu, bread, plant-based protein powder, cheese, and mock meat. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Plant-based food refers to a food item, product, or meat that is completely made from 100% plant ingredients and that is completely free from all animal products. Plant-based food is used for nutritional purposes and as potential sources in traditional medicines.
North America was the largest region in the plant-based food market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of plant-based food include dairy alternatives, meat alternatives, egg substitutes, condiments and others. Meat substitutes are synthetic food items that try to be similar to meat by emphasizing common characteristics and relationships. They are produced using various sources including soy, almond, wheat, pea, rice, and others, that are distributed through various channels such as supermarkets and hypermarkets convenience stores online stores and others.
Growing preference for plant-based food products is expected to propel the growth of the plant-based food market going forward. Plant-based food products refer to a product that is completely made from 100% plant ingredients and that is completely free from all animal products. They contain no animal products or animal-derived ingredients and include only vegetables, fruits, and grains. Increasing preference for plant-based food products is increasing because of their health benefits, ethical issues, and environmental concerns. People preferring plant-based food products will help to propel the market growth. For instance, in 2021, according to The Good Food Institute, a US-based nonprofit organization promoting plant- and cell-based products, the US retail market for plant-based foods increased from $6.9 billion in 2020 to $7.4 billion by 7.2% in 2021, and further, the sales grew by 6% compared to 2020. Therefore, the growing preference for plant-based food products is driving the growth of the plant-based food market.
Product Innovation is a key trend gaining popularity in the plant-based food market. Major companies operating in the plant-based food market are focused on developing innovative products such as clean-label products, vegan cheeses, egg substitutes, and other products to strengthen their position. For instance, in July 2022, Century Pacific Food, Inc., a Philippines-based food and beverage company, launched an innovative plant-based alternative 'unMEAT Fish-free Tuna'. It is 100% fish-free and plant-based ingredients that use non-GMO ingredients. The product is uniquely designed with low fat with zero content of mercury and trans-fat. The company developed the product with taste, texture, and appearance the same as tune but with zero-fish.
In January 2022, PlantPlus Food LLC, a Canada-based provider of a range of finished plant-based food products, acquired Sol Cuisine Inc for $125.4 million. The acquisition of Sol Cuisine by PlantPlus Foods broadens the company's portfolio to include plant-forward and meat-analog products in appetizers, entrees, and meat-analog components to better suit the demands and lifestyle choices of consumers across several categories. Sol Cuisine Inc is a Canada-based producer of consumer-preferred plant-based protein foods.
The countries covered in the Plant-Based Food market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
1. Executive Summary
2. Plant-Based Food Market Characteristics
3. Plant-Based Food Market Trends And Strategies
4. Plant-Based Food Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Plant-Based Food Market
- 4.2. Ukraine-Russia War Impact On Plant-Based Food Market
- 4.3. Impact Of High Inflation On Plant-Based Food Market
5. Plant-Based Food Market Size And Growth
- 5.1. Global Plant-Based Food Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Plant-Based Food Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Plant-Based Food Market Segmentation
- 6.1. Global Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Dairy Alternatives
- Meat Alternatives
- Egg Substitutes And Condiments
- Other Types
- 6.2. Global Plant-Based Food Market, Segmentation By Source, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Soy
- Almond
- Wheat
- Pea
- Rice
- Other Sources
- 6.3. Global Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Supermarkets And Hypermarkets
- Convenience Stores
- Online Stores
- Other Distribution Channels
7. Plant-Based Food Market Regional And Country Analysis
- 7.1. Global Plant-Based Food Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Plant-Based Food Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Plant-Based Food Market
- 8.1. Asia-Pacific Plant-Based Food Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Plant-Based Food Market
- 9.1. China Plant-Based Food Market Overview
- 9.2. China Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Plant-Based Food Market
- 10.1. India Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Plant-Based Food Market
- 11.1. Japan Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Plant-Based Food Market
- 12.1. Australia Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Plant-Based Food Market
- 13.1. Indonesia Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Plant-Based Food Market
- 14.1. South Korea Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Plant-Based Food Market
- 15.1. Western Europe Plant-Based Food Market Overview
- 15.2. Western Europe Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Plant-Based Food Market
- 16.1. UK Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Plant-Based Food Market
- 17.1. Germany Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Plant-Based Food Market
- 18.1. France Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Plant-Based Food Market
- 19.1. Eastern Europe Plant-Based Food Market Overview
- 19.2. Eastern Europe Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Plant-Based Food Market
- 20.1. Russia Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Plant-Based Food Market
- 21.1. North America Plant-Based Food Market Overview
- 21.2. North America Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Plant-Based Food Market
- 22.1. USA Plant-Based Food Market Overview
- 22.2. USA Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Plant-Based Food Market
- 23.1. South America Plant-Based Food Market Overview
- 23.2. South America Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Plant-Based Food Market
- 24.1. Brazil Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Plant-Based Food Market
- 25.1. Middle East Plant-Based Food Market Overview
- 25.2. Middle East Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Plant-Based Food Market
- 26.1. Africa Plant-Based Food Market Overview
- 26.2. Africa Plant-Based Food Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Plant-Based Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Plant-Based Food Market Competitive Landscape And Company Profiles
- 27.1. Plant-Based Food Market Competitive Landscape
- 27.2. Plant-Based Food Market Company Profiles
- 27.2.1. Amy's Kitchen Inc
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Atlantic Natural Foods LLC
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Beyond Meat Inc
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Danone SA
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Garden Protein International Inc
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Plant-Based Food Market
29. Plant-Based Food Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer