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Global Plant Based Food and Beverage Market Report and Forecast 2024-2032
Market Report I 2024-03-25 I 155 Pages I EMR Inc.
Global Plant Based Food and Beverage Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the global plant based food and beverage market reached a value of USD 23.96 billion in 2023. Aided by a shift towards plant-based food products, the market is projected to further grow at a CAGR of 9.4% between 2024 and 2032 to reach a value of USD 54.23 billion by 2032.
The plant-based food and beverage sector is at the forefront of a dietary revolution, marked by a global shift towards sustainability, health consciousness, and ethical eating. As consumers increasingly opt for alternatives to animal-derived products, the industry is witnessing unprecedented growth.
The plant based food and beverage market growth is bolstered by the rising awareness of the environmental, health, and ethical implications of food choices. Projected to expand at an impressive Compound Annual Growth Rate (CAGR), the market's growth is fuelled by multifaceted factors.
The surge in veganism and flexitarian diets has propelled the demand for plant-based alternatives, extending beyond traditional products to include plant-based dairy, meats, and innovative food and beverage offerings. Technological advancements in food processing and flavour enhancement have also played a pivotal role, improving the taste, texture, and nutritional profile of plant-based products, making them appealing to a broader consumer base, thereby influencing the plant based food and beverage market outlook.
Moreover, the growing concern over food security and sustainability has encouraged consumers and businesses alike to embrace plant-based options as a means to reduce carbon footprints and promote ethical food production practices.
Key innovations include the development of plant-based proteins with enhanced amino acid profiles, the use of fermentation technology to replicate dairy and meat flavours, and the introduction of lab-grown or cultured meat alternatives. Additionally, the integration of superfoods and functional ingredients into plant-based products is expanding their appeal as health and wellness options.
As per the plant based food and beverage market analysis, the demand for transparent labelling, clean ingredients, and sustainable packaging offers avenues for brands to distinguish themselves. Furthermore, the untapped potential in global markets, particularly in regions with rising incomes and health awareness, presents expansive opportunities for growth and innovation.
The plant-based food and beverage industry represents a significant shift in global dietary patterns, offering a sustainable and ethical alternative to traditional animal-derived products. With a commitment to innovation, quality, and sustainability, the sector is well-positioned to continue its growth trajectory, contributing to healthier diets, reduced environmental impact, and a more ethical food system worldwide.
Market Segmentation
The market can be divided based on type, source, category, distribution channel, and region.
Market Breakup by Type
- Plant Based Dairy
- Meat Substitutes
- Plant Based Nutrition/Snack Bars
- Plant Based Bakery Products
- Plant Based Beverages
- Others
Market Breakup by Source
- Soy
- Coconut
- Wheat
- Almond
- Others
Market Breakup by Category
- Organic
- Conventional
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global plant-based food and beverage market. Some of the major players explored in the report by Expert Market Research are as follows:
- Nestle S.A.
- Conagra Brands, Inc.
- Campbell Soup Company
- Danone S.A.
- Beyond Meat Inc.
- Hain Celestial Group Inc.
- Noumi Ltd.
- Blue Diamond Growers
- Tofutti Brands, Inc.
- Eden Foods, Inc.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Plant Based Food and Beverage Market Analysis
8.1 Key Industry Highlights
8.2 Global Plant Based Food and Beverage Historical Market (2018-2023)
8.3 Global Plant Based Food and Beverage Market Forecast (2024-2032)
8.4 Global Plant Based Food and Beverage Market by Type
8.4.1 Plant Based Dairy
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Meat Substitutes
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Plant Based Nutrition/Snack Bars
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Plant Based Bakery Products
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Plant Based Beverages
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Plant Based Food and Beverage Market by Source
8.5.1 Soy
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Coconut
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Wheat
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Almond
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Plant Based Food and Beverage Market by Category
8.6.1 Organic
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Conventional
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Plant Based Food and Beverage Market by Distribution Channel
8.7.1 Supermarkets and Hypermarkets
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Convenience Stores
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Online
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Plant Based Food and Beverage Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Plant Based Food and Beverage Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Plant Based Food and Beverage Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Plant Based Food and Beverage Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Plant Based Food and Beverage Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Plant Based Food and Beverage Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Nestle S.A.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Conagra Brands, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Campbell Soup Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Danone S.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Beyond Meat Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Hain Celestial Group Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Noumi Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Blue Diamond Growers
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Tofutti Brands, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Eden Foods, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Plant Based Food and Beverage Market: Key Industry Highlights, 2018 and 2032
2. Global Plant Based Food and Beverage Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Plant Based Food and Beverage Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Plant Based Food and Beverage Historical Market: Breakup by Source (USD Billion), 2018-2023
5. Global Plant Based Food and Beverage Market Forecast: Breakup by Source (USD Billion), 2024-2032
6. Global Plant Based Food and Beverage Historical Market: Breakup by Category (USD Billion), 2018-2023
7. Global Plant Based Food and Beverage Market Forecast: Breakup by Category (USD Billion), 2024-2032
8. Global Plant Based Food and Beverage Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
9. Global Plant Based Food and Beverage Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
10. Global Plant Based Food and Beverage Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Plant Based Food and Beverage Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Plant Based Food and Beverage Market Structure
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