Plant-Based Food Market by Type (Plant-based Dairy Products, Plant-based Milk Products, Plant-based Meat Products, Plant-based Eggs, and Plant-based Condiments), Application (Food & Beverage Processing Industry and Feed Industry) - Global Analysis & Forecast 2019-2030
Report ID : 122 | Published Date : May 2020 | Pages : 220 | Region : Global | Report Code : FB-3
Plant-Based Food Market Overview and Introduction
Global Plant-Based Food market is estimated to be over US$ 12.9 Billion in 2019. It is anticipated to grow at a CAGR of 10.3% from 2019 to 2030.
Plant-Based Food contains foods derived entirely from plants including vegetables, grains, nuts, seeds, legumes, and fruits, eggs, milk, cheese, and yogurt. It contains few or no animal products. Plant-based foods are free from cholesterol & saturated fats and typically high in fiber, which is particularly appealing to a healthier lifestyle.
The global plant-based food market is driven by increasing awareness about health consciousness among people; rising incidence of obesity, diabetics, & hypertension; increasing incidences of chronic diseases, ultimately resulting in people becoming particular about their eating habits. Besides lifestyle-related diseases, the increasing count of people suffering from food allergies will also drive market growth. Moreover, the increased demand for organic & natural products is further boosting the plant-based food market. Plant-based food products are high in nutritional value and safe to consume; however, the high cost of such products may restrain market growth.
Plant-Based Food Market By Type, By Application & By Product
The global plant-based food market is segmented by product, by type, by application, and by region. Based on the product type, the plant-based food market is segmented into plant-based dairy products, plant-based milk products, plant-based meat products, plant-based egg products, plant-based condiments, and others. The plant-based milk & dairy segment holds a lion’s share of the global plant-based food market. Based on the application, the market can be segmented into the food & beverage processing industry, feed industry, and others. The food & beverage segment contributes to the highest revenue share in the global plant-based protein market.
Plant-Based Food Market By Regions
The global plant-based food market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America and Europe will dominate the global plant-based food market during the forecast period and are expected to grow at the highest rates. The US, Mexico, Canada, the UK, Germany, and France will witness populations switching the vegan diet. However, Asia Pacific is anticipated to grow at the fastest rate with growth focused on developing countries like India and China.
Plant-Based Food Market Prominent Players
Some prominent players in the global Plant-Based Food Market include Danone, Beyond Meat, Archer Daniels Midland Company, Cargill Incorporated, Fonterra Co-operative Group, SunOpta, Kellogg NA Co., CSC BRANDS, L.P. (Campbell Soup Company), and Kerry Group plc. AMCO Proteins, among others.