Plant-Based Food Market Size, Demand, Trends and Global Research Report 2023-2028
IMARC Group has recently released a new research study titled "Plant-Based Food Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
How big is the plant-based food market?
The global plant-based food market is expected to exhibit a growth rate (CAGR) of 12.11% during 2023-2028.
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| Plant-Based Food Market Report 2023-2028 |
Market Outlook:
Plant-based food refers to food items prepared from natural, plant-sourced ingredients, which include nuts, vegetables, fruits, whole grains, seeds, legumes, and oils. They mostly comprise of meat alternatives, dairy alternatives, egg substitutes and condiments, and others. Plant-based food products contain various essential nutrients, such as vitamins B1, E, and C, folic acid, magnesium, and iron and aid in reducing the risk of several chronic disorders, including heart diseases, diabetes, metabolic disorders, obesity, cancer, high blood pressure, etc. They are low in calories which decreases blood cholesterol and improves protein consumption. Plant-based food variants are even ecologically sustainable as they help to reduce the high consumption of meat products. Consequently, they are in extensive demand among consumers across the globe.
Market Trends and Growth Drivers:
The growing lactose-intolerant population and the emerging trend of veganism are primarily driving the plant-based food market. In addition to this, the elevating prevalence of diabetes and obesity and the increasing demand for plant-based meat, owing to the rising awareness among individuals about animal cruelty, are also positively influencing the global market. Furthermore, the expanding availability of the products across numerous offline and online distribution channels is acting as another significant growth-inducing factor.
Apart from this, the inflating investments by key market players on promotional activities, which include celebrity endorsements and social media advertising, are further stimulating the market growth. Moreover, the launch of unique products, such as plant-based milk and eggs, which are similar in taste to animal-sourced food items, is expected to fuel the plant-based food market over the forecasted period.
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Competitive Landscape With Key Players:
The competitive landscape of the plant based food market has been studied in the report with the detailed profiles of the key players operating in the market.
List of Plant Based Food Key Companies Covered in this Market Report:
- 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.
Plant Based Food Market Segmentation:
The report has segmented the plant based food market on the basis of type, source, Distribution Channel and region.
Based on Type:
- Dairy Alternatives
- Meat Alternatives
- Egg Substitutes and Condiments
- Others
Based on Source:
- Soy
- Almond
- Wheat
- Others
Based on Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Geographical Analysis:
- 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
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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