The Worldwide Plant-based Food Industry is Expected to Reach $95.5 Billion by 2029 - ResearchAndMarkets.com
Source: ResearchAndMarkets.com
June 22, 2022
DUBLIN--(BUSINESS WIRE)--The "Plant-based Food Market by Type, Source, Distribution Channel - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Global Plant-based Food Market is expected to reach $95.52 billion by 2029, growing at a CAGR of 12.4% during the forecast period of 2022 to 2029.
The growth of this market is driven by factors such as the increasing intolerance for animal protein amongst consumers, the growing vegan population, and the rising number of venture investments in plant-based food companies. 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.
Companies Mentioned
Beyond Meat Inc. (U.S.)
Impossible Foods Inc. (U.S.)
Danone SA (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)
Axiom Foods (U.S.)
Daiya Foods Inc. (Canada)
Earth's Own Food Company Inc. (Canada)
Lightlife Foods Inc. (U.S.)
Marlow Foods Ltd. (U.K.)
Taifun -Tofu GmbH (Germany)
Atlantic Natural Foods LLC (U.S.)
VBIte Food Ltd (U.K.)
Nutrisoy Pty Ltd. (Australia)
Nestle S.A. (Switzerland)
Unilever PLC (U.K.)
Key questions answered in the report-
What are the high-growth market segments in terms of type, source, distribution channel, and geography?
What is the historical market for plant-based food across the globe?
What are the market forecasts and estimates for the period of 2022-2029?
What are the major drivers, restraints, challenges, trends, and opportunities in the global plant-based food market?
Who are the major players in the plant-based food market, and what shares of the market do they hold?
How is the competitive landscape?
What are the recent developments in the global plant-based food market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global plant-based food market, and how do they compete with the other players?
Scope of the report
Plant-based Food Market, by Type
Dairy Alternatives
Milk
Cheese
Yogurt
Butter
Ice Cream
Creamer
Others
Meat Substitutes
TVP
Burger Patties
Tempeh
Hot Dogs and Sausages
Seitan
Meatballs
Ground Meat
Nuggets
Crumbles
Shreds
Others
Meals
Baked Goods
Confectionery
RTD Beverages
Egg Substitutes
Seafood Substitutes
Others
Plant-based Food Market, by Source
Soy
Almond
Wheat
Pea
Rice
Others
Plant-based Food Market, by Distribution Channel
Business to Business
Business to Customers
Modern Groceries
Convenience Store
Specialty Store
Online Retail
Others
Plant-based Food Market, by Geography
North America
U.S.
Canada
Europe
Germany
U.K.
Spain
Italy
France
Netherlands
Belgium
Austria
Poland
Portugal
Rest of Europe (RoE)
Asia-Pacific (APAC)
China
India
Japan
Australia
Thailand
South Korea
Rest of Asia-Pacific (RoAPAC)
Latin America
Brazil
Mexico
Argentina
Rest of Latin America (RoLATAM)
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/u738dn
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