The report is titled as ‘Plant Based Food Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the plant based food market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The plant based food market is expected to grow at a significant rate in the near future.
In terms of value, the plant-based food market is expected to cross US$ 75 Bn by 2028, at a CAGR of 12.4% during the forecast period of 2020 to 2028.
Plant Based Food Market Definition
Plant-based foods are usually categorized into vegetables, fruits, seeds, nuts, legumes, and grains; and their obtained processed complements including breakfast cereals, fermented and cooked legumes and vegetables, breads, pasta, and fruit juices, purées, and jams; and further their resulting constituents such as oleaginous seed–derived herbs, sugars, oils, and some spices.
Plant-based foods may be consumed crude and raw, but majority of the time, they go through refinement and processing to make it more edible, secure, and more palatable, in particular grain-based foods.
Plant Based Food Market Dynamics
Plant-based foods are as delicious as regular foods or animal-based food. Plant-based foods are in trend owing to the rapid adoption of vegetarian or vegan diets by the population associated with the rising moral concerns of people in reference to animal butchery which is primarily estimated to offer a major thrust to the growth of the global plant-based food market in the forthcoming years.
By the same token, the increasing health consciousness among the population is also playing a positive role in the growth of the global plant based food market. Also, with the brisk elevation in the count of severe diseases such as obesity, diabetes, hypertension, acute cardiovascular diseases, people are getting more and more careful and specific about their regular diets, which is further accelerating the demand of plant based foods across the global markets. Owing to which, the global plant based foods market is projected to rise substantially over the forecast period.
Plant Based Food Market Segmentation
The plant based food market is segmented on the basis of product type, source, distribution channel, and region.
By Product Type
Dairy Alternatives
Plant-Based Milk
Ice Cream
Creamer
Yogurt
Butter
Cheese
Others
Meat Substitute
Tofu
TVP
Tempeh
Seitan
Burger Patties
Sausages
Ground Meat
Meatballs
Nuggets
Crumbles
Others
Plant-based Eggs/Egg Substitute
Confectionery
Others
By Source
Soy Protein
Almond Protein
Wheat Protein
Pea Protein
Rice Protein
By Distribution Channel
Business to Business
Business to Customers
Modern Groceries
Convenience Store
Specialty Store
Online Retail
Others
By Region
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Plant Based Food Market Key Players
The key participating players of the global plant based food market include Beyond Meat Inc., Impossible Foods Inc., Danone SA, Garden Protein International, Inc., Amy’s Kitchen Inc., Follow Your Heart, The Hain Celestial Group, Inc., Sahmyook Foods, Sanitarium Health and Wellbeing Company, Axiom Foods, Daiya Foods Inc., Earth's Own Food Company Inc., Lightlife Foods, Inc., Marlow Foods Ltd., Taifun –Tofu GmbH, Atlantic Natural Foods LLC, BIte Food Ltd, and Nutrisoy Pty Ltd. among others
MMC Overview on Plant Based Food Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the Plant Based Food market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Reimbursement
Concerns for use of Plant Based Food
Advantages of Plant Based Food
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
1. Global Plant Based Food Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Plant Based Food Market Overview
2.1. Introduction
2.1.1. Market Definition
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Plant Based Food Market Snapshot
2.4. Global Plant Based Food Market Size And Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Plant Based Food Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Porter’s Five Forces Model
2.7. SWOT Analysis
3. Plant Based Food Assessment and Analysis
3.1. Plant Based Food Impact Analysis
3.2. Actions to encourage use of Plant Based Food
3.3. Plant Based Food Promotional Strategy Recommendation
3.4. Road Map Analysis
3.5. GAP Analysis
3.6. Potential Analysis
4. Covid-19 Impact on Plant Based Food Market
4.1. Impact Analysis of Covid-19 on the global Plant Based Food market
4.2. Effect On Value Chain
4.3. Business Impact W.R.T Revenue
4.4. Volatility In Price
4.5. Effect On The Overall Trade
4.6. Market Impact Analysis In 2020 (Quarter Wise)
5. Global Plant Based Food Market, By Product Type
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Product Type
5.1.2. BPS Analysis, By Product Type
5.2. Market Revenue (US$Mn) and Forecast, By Product Type
5.2.1. Dairy Alternatives
5.2.1.1. Plant-Based Milk
5.2.1.2. Ice Cream
5.2.1.3. Creamer
5.2.1.4. Yogurt
5.2.1.5. Butter
5.2.1.6. Cheese
5.2.1.7. Others
5.2.2. Meat Substitutes
5.2.2.1. Tofu
5.2.2.2. TVP
5.2.2.3. Tempeh
5.2.2.4. Seitan
5.2.2.5. Burger Patties
5.2.2.6. Sausages
5.2.2.7. Ground Meat
5.2.2.8. Meatballs
5.2.2.9. Nuggets
5.2.2.10. Crumbles
5.2.2.11. Others
5.2.3. Plant-based Eggs/Egg Substitute
5.2.4. Confectionery
5.2.5. Others
5.3. Global Plant Based Food Market Attractiveness Index, By Product Type
6. Global Plant Based Food Market, By Source
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Source
6.1.2. BPS Analysis, By Source
6.2. Market Revenue (US$Mn) and Forecast, By Source
6.2.1. Soy Protein
6.2.2. Almond Protein
6.2.3. Wheat Protein
6.2.4. Pea Protein
6.2.5. Rice Protein
6.3. Global Plant Based Food Market Attractiveness Index, By Source
7. Global Plant Based Food Market, By Distribution Channel
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Distribution Channel
7.1.2. BPS Analysis, By Distribution Channel
7.2. Market Revenue (US$Mn) and Forecast, By Distribution Channel
7.2.1. Business to Business
7.2.2. Business to Customers
7.2.2.1. Modern Groceries
7.2.2.2. Convenience Store
7.2.2.3. Specialty Store
7.2.2.4. Online Retail
7.2.2.5. Others
7.3. Global Plant Based Food Market Attractiveness Index, By Distribution Channel
8. Global Plant Based Food Market, By Region
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Region
8.1.2. BPS Analysis, By Region
8.2. Market Revenue (US$Mn) and Forecast, By Region
8.2.1. North America
8.2.2. Latin America
8.2.3. Europe
8.2.4. Asia Pacific
8.2.5. Middle East
8.2.6. Africa
8.3. Global Plant Based Food Market Attractiveness Index, By Region
9. North America Plant Based Food Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market Revenue (US$Mn) and Forecast, By Country
9.2.1. U.S. Plant Based Food Market
9.2.2. Canada Plant Based Food Market
9.3. North America Plant Based Food Market, By Product Type
9.3.1. Dairy Alternatives
9.3.1.1. Plant-Based Milk
9.3.1.2. Ice Cream
9.3.1.3. Creamer
9.3.1.4. Yogurt
9.3.1.5. Butter
9.3.1.6. Cheese
9.3.1.7. Others
9.3.2. Meat Substitutes
9.3.2.1. Tofu
9.3.2.2. TVP
9.3.2.3. Tempeh
9.3.2.4. Seitan
9.3.2.5. Burger Patties
9.3.2.6. Sausages
9.3.2.7. Ground Meat
9.3.2.8. Meatballs
9.3.2.9. Nuggets
9.3.2.10. Crumbles
9.3.2.11. Others
9.3.3. Plant-based Eggs/Egg Substitute
9.3.4. Confectionery
9.3.5. Others
9.4. North America Plant Based Food Market, By Source
9.4.1. Soy Protein
9.4.2. Almond Protein
9.4.3. Wheat Protein
9.4.4. Pea Protein
9.4.5. Rice Protein
9.5. North America Plant Based Food Market, By Distribution Channel
9.5.1. Business to Business
9.5.2. Business to Customers
9.5.2.1. Modern Groceries
9.5.2.2. Convenience Store
9.5.2.3. Specialty Store
9.5.2.4. Online Retail
9.5.2.5. Others
9.6. North America Plant Based Food Market Attractiveness Index
9.6.1. By Country
9.6.2. By Product Type
9.6.3. By Source
9.6.4. By Distribution Channel
10. Latin America Plant Based Food Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. Brazil Plant Based Food Market
10.2.2. Mexico Plant Based Food Market
10.2.3. Rest Of Latin America Plant Based Food Market
10.3. Latin America Plant Based Food Market, By Product Type
10.3.1. Dairy Alternatives
10.3.1.1. Plant-Based Milk
10.3.1.2. Ice Cream
10.3.1.3. Creamer
10.3.1.4. Yogurt
10.3.1.5. Butter
10.3.1.6. Cheese
10.3.1.7. Others
10.3.2. Meat Substitutes
10.3.2.1. Tofu
10.3.2.2. TVP
10.3.2.3. Tempeh
10.3.2.4. Seitan
10.3.2.5. Burger Patties
10.3.2.6. Sausages
10.3.2.7. Ground Meat
10.3.2.8. Meatballs
10.3.2.9. Nuggets
10.3.2.10. Crumbles
10.3.2.11. Others
10.3.3. Plant-based Eggs/Egg Substitute
10.3.4. Confectionery
10.3.5. Others
10.4. Latin America Plant Based Food Market, By Source
10.4.1. Soy Protein
10.4.2. Almond Protein
10.4.3. Wheat Protein
10.4.4. Pea Protein
10.4.5. Rice Protein
10.5. Latin America Plant Based Food Market, By Distribution Channel
10.5.1. Business to Business
10.5.2. Business to Customers
10.5.2.1. Modern Groceries
10.5.2.2. Convenience Store
10.5.2.3. Specialty Store
10.5.2.4. Online Retail
10.5.2.5. Others
10.6. Latin America Plant Based Food Market Attractiveness Index
10.6.1. By Country
10.6.2. By Product Type
10.6.3. By Source
10.6.4. By Distribution Channel
11. Europe Plant Based Food Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. U.K. Plant Based Food Market
11.2.2. Germany Plant Based Food Market
11.2.3. Italy Plant Based Food Market
11.2.4. France Plant Based Food Market
11.2.5. Spain Plant Based Food Market
11.2.6. Russia Plant Based Food Market
11.2.7. Rest Of Europe Plant Based Food Market
11.3. Europe Plant Based Food Market, By Product Type
11.3.1. Dairy Alternatives
11.3.1.1. Plant-Based Milk
11.3.1.2. Ice Cream
11.3.1.3. Creamer
11.3.1.4. Yogurt
11.3.1.5. Butter
11.3.1.6. Cheese
11.3.1.7. Others
11.3.2. Meat Substitutes
11.3.2.1. Tofu
11.3.2.2. TVP
11.3.2.3. Tempeh
11.3.2.4. Seitan
11.3.2.5. Burger Patties
11.3.2.6. Sausages
11.3.2.7. Ground Meat
11.3.2.8. Meatballs
11.3.2.9. Nuggets
11.3.2.10. Crumbles
11.3.2.11. Others
11.3.3. Plant-based Eggs/Egg Substitute
11.3.4. Confectionery
11.3.5. Others
11.4. Europe Plant Based Food Market, By Source
11.4.1. Soy Protein
11.4.2. Almond Protein
11.4.3. Wheat Protein
11.4.4. Pea Protein
11.4.5. Rice Protein
11.5. Europe Plant Based Food Market, By Distribution Channel
11.5.1. Business to Business
11.5.2. Business to Customers
11.5.2.1. Modern Groceries
11.5.2.2. Convenience Store
11.5.2.3. Specialty Store
11.5.2.4. Online Retail
11.5.2.5. Others
11.6. Europe Plant Based Food Market Attractiveness Index
11.6.1. By Country
11.6.2. By Product Type
11.6.3. By Source
11.6.4. By Distribution Channel
12. Asia Pacific Plant Based Food Market Analysis and Forecast, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) Forecast, By Country
12.2.1. China Plant Based Food Market
12.2.2. India Plant Based Food Market
12.2.3. Japan Plant Based Food Market
12.2.4. Australia and New Zealand Plant Based Food Market
12.2.5. South Korea Plant Based Food Market
12.2.6. Rest of Asia Pacific Plant Based Food Market
12.3. Asia Pacific Plant Based Food Market, By Product Type
12.3.1. Dairy Alternatives
12.3.1.1. Plant-Based Milk
12.3.1.2. Ice Cream
12.3.1.3. Creamer
12.3.1.4. Yogurt
12.3.1.5. Butter
12.3.1.6. Cheese
12.3.1.7. Others
12.3.2. Meat Substitutes
12.3.2.1. Tofu
12.3.2.2. TVP
12.3.2.3. Tempeh
12.3.2.4. Seitan
12.3.2.5. Burger Patties
12.3.2.6. Sausages
12.3.2.7. Ground Meat
12.3.2.8. Meatballs
12.3.2.9. Nuggets
12.3.2.10. Crumbles
12.3.2.11. Others
12.3.3. Plant-based Eggs/Egg Substitute
12.3.4. Confectionery
12.3.5. Others
12.4. Asia Pacific Plant Based Food Market, By Source
12.4.1. Soy Protein
12.4.2. Almond Protein
12.4.3. Wheat Protein
12.4.4. Pea Protein
12.4.5. Rice Protein
12.5. Asia Pacific Plant Based Food Market, By Distribution Channel
12.5.1. Business to Business
12.5.2. Business to Customers
12.5.2.1. Modern Groceries
12.5.2.2. Convenience Store
12.5.2.3. Specialty Store
12.5.2.4. Online Retail
12.5.2.5. Others
12.6. Asia Pacific Plant Based Food Market Attractiveness Index
12.6.1. By Country
12.6.2. By Product Type
12.6.3. By Source
12.6.4. By Distribution Channel
13. Middle East Plant Based Food Market Analysis and Forecast, 2020–2028
13.1. Introduction
13.1.1. Annual Growth Rate Comparison, By Country
13.1.2. BPS Analysis, By Country
13.2. Market (US$Mn) Forecast, By Country
13.2.1. GCC Countries Plant Based Food Market
13.2.2. Israel Plant Based Food Market
13.2.3. Rest Of Middle East Plant Based Food Market
13.3. Middle East Plant Based Food Market, By Product Type
13.3.1. Dairy Alternatives
13.3.1.1. Plant-Based Milk
13.3.1.2. Ice Cream
13.3.1.3. Creamer
13.3.1.4. Yogurt
13.3.1.5. Butter
13.3.1.6. Cheese
13.3.1.7. Others
13.3.2. Meat Substitutes
13.3.2.1. Tofu
13.3.2.2. TVP
13.3.2.3. Tempeh
13.3.2.4. Seitan
13.3.2.5. Burger Patties
13.3.2.6. Sausages
13.3.2.7. Ground Meat
13.3.2.8. Meatballs
13.3.2.9. Nuggets
13.3.2.10. Crumbles
13.3.2.11. Others
13.3.3. Plant-based Eggs/Egg Substitute
13.3.4. Confectionery
13.3.5. Others
13.4. Middle East Plant Based Food Market, By Source
13.4.1. Soy Protein
13.4.2. Almond Protein
13.4.3. Wheat Protein
13.4.4. Pea Protein
13.4.5. Rice Protein
13.5. Middle East Plant Based Food Market, By Distribution Channel
13.5.1. Business to Business
13.5.2. Business to Customers
13.5.2.1. Modern Groceries
13.5.2.2. Convenience Store
13.5.2.3. Specialty Store
13.5.2.4. Online Retail
13.5.2.5. Others
13.6. Middle East Plant Based Food Market Attractiveness Index
13.6.1. By Country
13.6.2. By Product Type
13.6.3. By Source
13.6.4. By Distribution Channel
14. Africa Plant Based Food Market Analysis and Forecast, 2020–2028
14.1. Introduction
14.1.1. Annual Growth Rate Comparison, By Country
14.1.2. BPS Analysis, By Country
14.2. Market (US$Mn) Forecast, By Country
14.2.1. South Africa Countries Plant Based Food Market
14.2.2. Egypt Plant Based Food Market
14.2.3. North Africa Plant Based Food Market
14.2.4. Rest of Africa Plant Based Food Market
14.3. Africa Plant Based Food Market, By Product Type
14.3.1. Dairy Alternatives
14.3.1.1. Plant-Based Milk
14.3.1.2. Ice Cream
14.3.1.3. Creamer
14.3.1.4. Yogurt
14.3.1.5. Butter
14.3.1.6. Cheese
14.3.1.7. Others
14.3.2. Meat Substitutes
14.3.2.1. Tofu
14.3.2.2. TVP
14.3.2.3. Tempeh
14.3.2.4. Seitan
14.3.2.5. Burger Patties
14.3.2.6. Sausages
14.3.2.7. Ground Meat
14.3.2.8. Meatballs
14.3.2.9. Nuggets
14.3.2.10. Crumbles
14.3.2.11. Others
14.3.3. Plant-based Eggs/Egg Substitute
14.3.4. Confectionery
14.3.5. Others
14.4. Africa Plant Based Food Market, By Source
14.4.1. Soy Protein
14.4.2. Almond Protein
14.4.3. Wheat Protein
14.4.4. Pea Protein
14.4.5. Rice Protein
14.5. Africa Plant Based Food Market, By Distribution Channel
14.5.1. Business to Business
14.5.2. Business to Customers
14.5.2.1. Modern Groceries
14.5.2.2. Convenience Store
14.5.2.3. Specialty Store
14.5.2.4. Online Retail
14.5.2.5. Others
14.6. Africa Plant Based Food Market Attractiveness Index
14.6.1. By Country
14.6.2. By Product Type
14.6.3. By Source
14.6.4. By Distribution Channel
15. Competitive Landscape
15.1. Company Profiles
15.1.1. Beyond Meat Inc.
15.1.1.1. Company Overview
15.1.1.2. Financial Overview
15.1.1.3. Key Developments
15.1.1.4. Strategies
15.1.1.5. Product Analysis
15.1.2. Impossible Foods Inc.
15.1.3. Danone SA
15.1.4. Garden Protein International, Inc.
15.1.5. Amy’s Kitchen Inc.
15.1.6. Follow Your Heart
15.1.7. The Hain Celestial Group, Inc.
15.1.8. Sahmyook Foods
15.1.9. Sanitarium Health and Wellbeing Company
15.1.10. Axiom Foods
15.1.11. Daiya Foods Inc.
15.1.12. Earth's Own Food Company Inc.
15.1.13. Lightlife Foods, Inc.
15.1.14. Marlow Foods Ltd.
15.1.15. Taifun –Tofu GmbH
15.1.16. Atlantic Natural Foods LLC
15.1.17. BIte Food Ltd.
15.1.18. Nutrisoy Pty Ltd.
16. Acronyms
Frequently Asked Questions
What is the projected market size & Compound Annual Growth Rate (CAGR) of the market?
In terms of value, the plant-based food market is expected to cross US$ 75 Bn by 2028, at a CAGR of 12.4% during the forecast period of 2020 to 2028
What are the key factors driving the growth of market?
The rapid adoption of vegetarian or vegan diets by the population associated with the rising moral concerns of people in reference to animal butchery which is primarily estimated to offer a major thrust to the growth of the global plant-based food market in the forthcoming years
What segments are covered in market report?
The plant based food market is segmented on the basis of product type, source, distribution channel, and region.
What are the key participating players in the market?
The key participating players of the global plant based food market include Beyond Meat Inc., Impossible Foods Inc., Danone SA, Garden Protein International, Inc., Amys Kitchen Inc., Follow Your Heart, The Hain Celestial Group, Inc., Sahmyook Foods, Sanitarium Health and Wellbeing Company, Axiom Foods, Daiya Foods Inc., Earths Own Food Company Inc., Lightlife Foods, Inc., Marlow Foods Ltd., Taifun –Tofu GmbH, Atlantic Natural Foods LLC, BIte Food Ltd, and Nutrisoy Pty Ltd. among others
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