Plant-Based Food Market: Product Launches Accelerate Across Meat and Dairy Categories

Plant-Based Food Market Report Overview

The primary goal of MMR's Plant-Based Food Market report is to assist organizations in making informed business decisions. This aids them in identifying areas that require improvement, recognizing those that are already performing effectively, and guiding new entrants as they navigate and establish themselves within the competitive landscape. The inclusion of the competitive landscape, complete with revenue figures for each player, equips clients with insights to formulate strategies aimed at enhancing their footprint within the Plant-Based Food industry.

Plant-Based Food Market size was valued at US$ 37.49 Bn. in 2021 and the total revenue is expected to grow at 12.4 % through 2022 to 2029, reaching nearly US$ 95.52 Bn.

Plant-Based Food Market Report Scope and Research Methodology

The primary goal of the Plant-Based Food market report is to offer a comprehensive analysis presented in an accessible language. The research encompasses key companies and critical factors within the Plant-Based Food market, evaluated across various metrics including volume, share, growth, and strategies. This research not only assists existing players in refining their business plans but also provides strategic insights for prospective entrants. MMR's research is a meticulous exploration of the Plant-Based Food market landscape, identifying the foremost global companies based on metrics such as volume, share, strategies, and growth. The report extends strategic guidance to both established industry participants and potential newcomers aiming to enter the Plant-Based Food market. At a global level, the report for the Plant-Based Food market provides a thorough breakdown of share distribution across regions, accompanied by a detailed analysis of demand growth factors specific to each region.

Trending Factors:

 To further enhance the efficiency of heat exchangers and manage the stress of increasing temperature gradients, several large manufacturers are investing in R&D to advance the technology for high-power Plant-Based Food. Moreover, recent research is concentrating on creating lightweight Plant-Based Food.

 Institutions are conducting research to lower the price of Plant-Based Food and boost their effectiveness. The demand for Plant-Based Food is anticipated to rise throughout the forecast period along with the increase in research and development activities.

 Low power Plant-Based Food (100 watt) are typically used for outdoor activities like trekking, mountaineering, camping, and as a backup source of electricity in houses during blackouts, mainly to charge electronics like tablets, phones, and lighting equipment.

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Plant-Based Food Market Regional Insights

The report provides a detailed analysis of Plant-Based Food market dynamics with market size and share in each region and country:

1. North America 
2. Asia Pacific
3. Europe
4. Middle East and Africa 
5. South America

Plant-Based Food Market Segmentation

by Type

• Dairy Substitute

• Meat Substitute

• Egg Substitute

• Seafood Substitute

• Others

Sorted by The market for plant-based foods is anticipated to be dominated by the dairy substitutes category. The market for dairy substitutes is divided into categories such as ice cream, yogurt, cheese, butter, milk, and others. The market for dairy substitutes is anticipated to be dominated by the milk category in 2021. There are several types of milk: hemp milk, soy milk, coconut milk, quinoa milk, cow's milk, and multigrain milk. In addition to being a common source of dietary calcium, dairy milk is a rich source of protein. These nutrients are present in a lot of other plant-based diets.

by Source

• Soybean

• Nuts

• Wheat

• Pea

• Others

According to Source type, the market for plant-based foods is anticipated to be dominated by the soy segment. In addition to offering significant health advantages, soy products can provide essential nutrition to plant-based diets like flexitarian, vegetarian, and vegan diets. Iron, calcium, potassium, fiber, and essential fats can all be found in them in significant amounts. Soy foods offer more than just a diverse range of nutrients; they also contain dietary components like flavones, which are present in very small amounts in other plant foods.

by distribution channel

• Food retail

• Food services

• E-commerce

The retail seal of plant-based food is twice as quick as the overall food seal when it comes to distribution channels. Retail seal plant-based food is expected to grow 6.2% in 2021 over a record-breaking year of growth in 2020, according to recent data from the Plant-Based Food Association and Good Food Institute. the increase in plant-based diets because of their benefits to global and individual health. By partnering with brands throughout the entire store, retailers and foodservice providers are meeting consumers where they are, creating more space, offering a wider selection, and making it simpler than ever to locate and buy plant-based foods. These initiatives have the potential to have far-reaching effects beyond the retail shelf. 

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Plant-Based Food Market Key Players

• Beyond Meat (US)

• Kellogg Company (US)

• Impossible Foods Inc. (US)

• Maple Leaf Foods (Canada)

• Unilever (UK)

• Conagra Foods (US)

• Tofurky (US)

• Gold&Green Foods Ltd (Finland)

• Sunfed (New Zealand)

• Monde Nissin (Philippines)

• Planterra Foods (US)

• FazendoFuturo (Brazil)

• Alpha Foods (US)

• Tomorrow Foods (Argentina)

• Before the Butcher (US)

• Good Dot (India)

• VBites Foods Ltd. (UK)

• No Evil Foods (US)

• Vezlay Foods (India)

• Let’s Plant Meat (Thailand)

Table of content for the Plant-Based Food Market includes: 

Part 01: Executive Summary

Part 02: Scope of the Plant-Based Food Market Report

Part 03: Global Plant-Based Food Market Landscape

Part 04: Global Plant-Based Food Market Sizing

Part 05: Global Plant-Based Food Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by different segment | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by Application, Technology, Type, End-User and Region 
• Competitive Landscape – Profiles of selected key players by region in a strategic perspective 
• Competitive landscape – Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis 
• PORTER’s analysis 
• Value chain and supply chain analysis 
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis 
• Recommendations 

Key questions answered in the Plant-Based Food Market are:

• What are the Plant-Based Food Market segments?
• Which Plant-Based Food market segment is expected to grow rapidly during the forecast period?
• What is the expected CAGR of the Plant-Based Food market during the forecast period?
• Who are the top players in the Plant-Based Food industry?
• What is the expected Plant-Based Food Market size by 2030?
• What was the Plant-Based Food Market size in 2023?
• Which region is expected to grow at a high CAGR during the forecast period?
• Which region held the largest Plant-Based Food market share in 2023? 

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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