Global Plant based Food Market Size Analysis, 2019-2028

REPORT ID: BR733Domain: Food & BeveragesPublished Date: August 2019
Pages: 300+Format: PDF

Global Plant Based Food Market Size is estimated to be valued over 12.9 billion in 2019 and will register a CAGR of above 10.3% to create high revenue opportunity during the forecast period 2019-2028. The industry is expected to create 2.4X higher sales revenue in 2028 than in 2019.

The food space is experiencing a major shift in recent years with processed and mass produced foods enriched with artificial ingredients, hormones, antibiotics and largely devoid of real nutrition are rapidly losing their appeal. Consumers are inclining towards plant-based protein over animal-based protein since consumers prefer green natural ingredients. As of 2019, the industry is still relatively in early stage and thereby offers immense growth prospective for engaged industry players. Key players are primarily focusing on taste innovation as product strategy and merger acquisition as go-to-market strategy. In last few years, there were series of mergers acquisition in the segment. For instance, in 2018, Unilever acquired The Vegetarian Butcher. Another major company, Danone acquired plant based dairy alternative company Alpro in 2017. As per the independent estimates, Danone accounted for 16% of global plant based food market share in 2018.

Global Plant Based Food Market Drivers and Challenges

Pant based food market revenue is expected to be driven by various factors. Some key macroeconomic factors expected to boost the sales and growth of the product are increased per capita income, changing lifestyle with rising consumer awareness and rise in GDP among developing economies along with rapid product innovation.

Moreover, the wave of health consciousness that is spreading over the developing countries is another factor of that increases global plant-based protein market in terms of revenue, so much so that nearly 60% of millennials consume plant-based meat.

Increasing demand for natural and organic products has further boosted the overall plant based food market in the world. These foods are deemed to be environmentally safe as it leads to lesser carbon credits compared to meat based counterpart. Making consumers shift from the acquired and traditional taste of dairy product in addition to change in the perception and substitute sources of protein such as animal based protein and synthetic protein create restrains to global plant-based protein market to grow.

Global Plant Based Food Market Analysis, By Product

On the basis of product type, the plant based food market size is segmented into plant based milk, plant based dairy, plant based meat, plant based meals, tofu and tempeh,  plant based condiments, plant based eggs and others. Among these, plant based milk and plant based dairy market are expected to account for over 69% of overall global shares in 2019. Much of the demand is expected to generate from U.S. In 2019, milk alternative registered fastest growth compared to that in 2018. Sales of almond milk has gained considerable share due to wide scale popularity among consumers. Almond milk is expected to register 9.5% CAGR between 2018 and 2028.

Meat alternatives are the another key segment for industry players. In last ten years, many new startups has emerged in the segment citing increasing vegan population. Beyond Meat is one such startup that has successfully expanded its business reach in North America. As of 2019, the company has over 400 employees. The company focuses on taste innovation and new-to-market products in order to gain substantial consumers. For instance, the company uses 22 different ingredients in order to match the texture and taste of meat burger. Founded in 2009, consistent innovation has helped company to reach valuation worth over US$ 1 billion.

Global Plant Based Food Market Analysis, By Application

On the basis of application, plant based food market revenue is analyzed across food and beverage industry, feed industry, pharmaceutical industry and others. Food and beverage segment contributes highest revenue in the global plant-base protein market among all the application segments. The main revenue generating segments are non-dairy beverages (refrigerated and shelf stable), cheese alternatives, meat alternatives (frozen and refrigerated), and tofu products.

Global Plant Based Food Market Size and Forecast: Regional Analysis

Globally, North America plant based foods market dominated the global sales. The region generated US$ 4.3 billion sales revenue for plant based food players. US is the largest market in the region and to facilitate the trade, it has set up The Plant Based Foods Association which represents nearly 75 of the nation’s leading plant-based food companies. Favorable business scenario and growing consumer awareness towards meat based alternatives is expected to heighten the total sales.

Western Europe stands next to Western Europe with 378 basis point difference. Majority of the sales was derived from Germany and United Kingdom owing to higher per capita income and growing awareness related to green diets. This has led consumers to shift from meat based diets to plant based diets. There exists huge addressable market in Western Europe, however, only a fraction of the total potential is capitalized by the industry players. This is because plant based foods are generally marketed as premium products, which has limited the sales demand in few Western Europe countries witnessing slowdown in economy.

Global Plant Based Food Market Size and Forecast: Competition Landscape

Some of the key global plant based food market companies are Archer Daniels Midland Company, Cargill, Incorporated, E. I. du Pont de Nemours and Company, Fonterra Co-Operative Group, Kerry Group plc, Beyond Meat, Sun Brothers, LLC., Vega, Danone S.A., AMCO Proteins, Hilmar Cheese Company, Inc., and Omega Protein Corporation. Just this year, Healthcare firm Otsuka Pharmaceutical has signed a definitive agreement to purchase a 100% stake in Canadian plant-based foods manufacturer Daiya Foods for C$405m which is a clear indication of steady growth of the plant-based foods because of consumers shift away from animal products towards plant-based options and a complete change in market scenario.

A whole new food ecosystem is growing, fuelled by startups that are responding to consumer demand by offering more plant-based options but are also accelerating this shift towards healthy food habits. Vegan meals, dairy free yogurts, plant meats are the future market leaders of the food and beverage industry.

Research Scope:

By Product Type:

  • Plant based Milk Products
  • Plant based Dairy Products
  • Plant based Meat Products
  • Plant based Meals
  • Tofu and Tempeh
  • Plant based Condiments
  • Plant based Eggs
  • Others

By Application:

  • Food and Beverage Processing Industry
  • Pharmaceutical Industry
  • Feed Industry
  • Others

What Will You Discover in the Report?

  • An in-depth analysis of the Plant based Foods market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
  • How the Plant based Foods market revenue is expected to grow throughout the forecast period.
  • How geopolitical policies and technological changes will affect the Plant based Foods market in near future
  • Which current and upcoming technologies will shape up the Plant based Foods market?
  • Where the stakeholders should invest to generate higher profit margins
  • How consumers (end-users) will reflect to the Plant based Foods industry during the forecast period
  • Who are the Plant based Foods industry leaders and what are the key initiatives taken by them for long term growth?
  • Industry exclusive use cases

Who will benefit from the Report?

  • Plant based Foods Manufacturer
  • Plant based Foods Raw Material Supplier
  • Plant based Foods Solution Providers
  • Consultants and Analysts
  • Researchers

Analyst access with Bekryl Market Analysts

Purchasing of global Plant based Foods market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.

Plant Based Food Industry Scope (TOC)

  1. Report Structure
  2. Executive Summary
  3. Research Methodology
  4. Plant Based Food Market
    • Market Outlook and Forecast
    • Growth Forecast Analysis Scenario
    • Meat Market Overview
    • Addressable Market for Plant based Food Industry
    • Out of Pocket Spending Analysis, (By Selected Countries)
    • Value Chain Analysis
  5. Global Plant Based Food Market Overview
    • Global Plant Based Food Market Size, 2018-2028
    • Growth Analysis, 2019-2028 (%)
    • Key Industry Players
    • Key Vendors and Suppliers
    • Revenue Analysis:
      • Plant based Food Vs. Animal based Foods Market
        • Analysis by Products
      • Supply Chain Gap Analysis
  1. Plant Based Food Market Dynamics
    • Market Drivers
      • Demand Side Drivers
      • Supply Side Drivers
      • Macroeconomic Drivers
    • Market Challenges
    • Industry Trends
    • Market Opportunities
    • Marketed Details
    • Porters Analysis
    • PESTLE Analysis
    • Market Investment Proposition
    • Key Developments
    • Merger Acquisition – Impact Analysis
    • New Entrants Competitive Scenario
    • Production Scenario
  2. Plant Based Food Market, By Product
    • Introduction and Key Trends
    • Market Share Analysis, 2019 and 2028, (%)
    • Plant Based Milk
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Plant Based Dairy Products
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Plant Based Meat Products
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Plant Based Meals
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Tofu and Tempeh
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Plant Based Condiments
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Plant Based Eggs
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Others
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
  1. Plant Based Food Market, By Application
    • Introduction and Key Trends
    • Market Share Analysis, 2019 and 2028, (%)
    • Food and Beverage Industry
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Feed Industry
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Pharmaceutical Industry
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
    • Others
      • Market Value Forecast, 2018-2028, (US$ Million)
      • Y-o-Y Growth Analysis, 2019-2028, (%)
      • Incremental Revenue Opportunity, 2019-2028
  1. North America Plant Based Food Market Size and Share Analysis, 2018-2028
    • Introduction
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Product
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Application
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Country
      • United States
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • United States Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Canada
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Canada Plant Based Food Market Analysis, Across Segments (By Product, By Application)
  1. Western Europe Plant Based Food Market Size and Share Analysis, 2018-2028
    • Introduction
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Product
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Application
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Country
      • Germany
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Germany Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • United Kingdom
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • United Kingdom Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • France
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • France Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Italy
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Italy Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • BENELUX
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • BENELUX Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • NORDIC
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • NORDIC Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Rest of Western Europe
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Rest of Western Europe Plant Based Food Market Analysis, Across Segments (By Product, By Application)
  1. Central and Eastern Europe (CEE) Plant Based Food Market Size and Share Analysis, 2018-2028
    • Introduction
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Product
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Application
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Country
      • Russia
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Russia Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Poland
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Poland Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Ukraine
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Ukraine Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Rest of CEE
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Rest of CEE Plant Based Food Market Analysis, Across Segments (By Product, By Application)
  1. Asia Pacific Plant Based Food Market Size and Share Analysis, 2018-2028
    • Introduction
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Product
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Application
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Country
      • China
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • China Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • India
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • India Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Japan
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Japan Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • ASEAN
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • ASEAN Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Australia and New Zealand (ANZ)
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • ANZ Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • South Korea
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • South Korea Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Rest of Asia Pacific
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Rest of Asia Pacific Plant Based Food Market Analysis, Across Segments (By Product, By Application)
  1. Latin America Plant Based Food Market Size and Share Analysis, 2018-2028
    • Introduction
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Product
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Application
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Country
      • Brazil
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Brazil Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Mexico
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Mexico Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Argentina
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Argentina Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Rest of Latin America
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Rest of Latin America Plant Based Food Market Analysis, Across Segments (By Product, By Application)
  1. Middle East Plant Based Food Market Size and Share Analysis, 2018-2028
    • Introduction
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Product
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Application
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Country
      • GCC
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • GCC Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Rest of Middle East
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Rest of Middle East Plant Based Food Market Analysis, Across Segments (By Product, By Application)
  1. Africa Plant Based Food Market Size and Share Analysis, 2018-2028
    • Introduction
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Product
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Application
    • Market Value (US$ Million) Forecast and Y-o-Y Growth (%), By Country
      • South Africa
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • South Africa Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • Central Africa
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • Central Africa East Plant Based Food Market Analysis, Across Segments (By Product, By Application)
      • North Africa
        • Market Size (US$ Million) Forecast and Y-o-Y Growth (%), 2018-2028
        • North Africa Plant Based Food Market Analysis, Across Segments (By Product, By Application)
  1. Company Landscape: Plant Based Food Industry
    • Competition Dashboard
    • Company Market Positioning, 2018
    • Key Industry Players Across Regions
    • Distribution Channel Matrix
    • Company Profiles
      • Archer Daniels Midland Company
        • Company Overview
        • Regional Presence Assessment
        • Key Offerings
        • Key Developments
        • Business Strategy
          • Product Level Strategy
          • Go-to-Market Level Strategy
          • Regional Level Strategy
        • SWOT Analysis
      • Cargill, Incorporated
      • I. du Pont de Nemours and Company
      • Fonterra Co-Operative Group
      • Kerry Group plc
      • Beyond Meat
      • Sun Brothers, LLC.
      • Vega
      • Danone S.A.
      • AMCO Proteins
      • Hilmar Cheese Company, Inc.
      • Omega Protein Corporation

(*Key Pointers mentioned is covered across all other companies)

Purchase
   

HOW WE ARE DIFFERENT

Bekryl widget

 

Growth Partnership

We work together with our clients to present strategic market research solutions that not only helps in understanding the net opportunity but also industry macroeconomic trends shaping the market. We extend our services to all types of industries ranging from inspiring startups to industry giants.

Tailored Solutions

We provide strategic solutions that help client meet their business needs. Our market research and consulting services includes wide range of organizations ranging from industries to educational and research institutes. Our well-equipped analytical team help client to explore digital platform for maximizing profits.

Industry Partnership

Bekryl Analysts track over 800 media channels and over 9000 market players to get the most blistering information on latest happening. It helps Bekryl to contribute consulting solutions that is proven and effective for clients.

CONNECT WITH US

Purchase