Plant Based Food Market

Plant based Food Market by Type (Dairy Alternatives, Plant-based Meat, Meals, Confectionery, Beverages, Egg Substitutes, Seafood), Source (Soy, Wheat, Pea, Rice), Distribution Channel (B2B, B2C [Convenience Store, Online Retail])—Global Forecast to 2029

Report ID: MRFB - 104412
Pages: 314
May-2022
Formats*: PDF
Category: Food and Beverages
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COVID-19

This report provides pre & post COVID-19 market estimates.

The Plant Based Food Market is expected to grow at a CAGR of 12.4% from 2022–2029 to reach $95.52 billion by 2029. The growth of this market is driven by factors such as the increasing intolerance for animal protein amongst consumers, the growing vegan population, and the rising number of venture investments in plant-based food companies. In addition, the increasing number of research & development and new product launches by plant and protein alternative manufacturers and emerging economies, such as Asia-pacific, Latin America, and the Middle East & Africa, are expected to create lucrative opportunities for players operating in this market.

However, factors such as the comparatively higher price range of meat substitutes, significant preference for animal-based products, and consumer preference for soy and gluten-free products are expected to hinder the growth of this market to a notable extent.

Plant-Based Protein Supplements Market

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Impact of COVID-19 on Plant-based Food Market

The COVID-19 pandemic also led to some best practice models for the plant-based food industry. The COVID-19 epidemic has highlighted the connection between public health and animal meat consumption, which has resulted in consumers switching to a plant-based diet. From a manufacturing and distributing point of view, this industry has faced unprecedented demand from manufacturers as well as consumers, particularly for products such as meat analogues and plant-based milk; hence, numerous companies in the plant-based food space have already started changing their strategies to meet the increased demand from consumers. The detailed impacts on each of these industry segments are as follows:

Impact on the Dairy Alternative Industry

In recent years, the dairy alternative industry has witnessed a significant increase in sales. The shortage of traditional dairy options in grocery stores presented a unique opportunity to accelerate the adoption of alternative dairy products in North America and Europe. The COVID-19 pandemic increased the sales of alternative dairy products. According to the Good Food Institute, Plant Based Foods Association, IRI, and Nielsen data, in April 2020, in the U.S., retail sales of oat milk grew 476.7% in the week ending March 14, while dairy milk sales grew 32.4% compared to the previous year. The upsurge in sales was mainly attributed to the increase in oat milk and nutritional plant-based butter sales.

Impact on the Meat Substitutes Industry

This COVID-19 pandemic severely impacted the traditional meat processing industry, leading to the closure of numerous slaughterhouses due to disruptions in supply chains. For instance, the meat supply in the U.S. was severely affected by the outbreak of the COVID-19 pandemic, as major meat plants closed down when the factory workers tested positive for COVID-19 infection. Meat plants that were responsible for 10% of all beef production in the U.S. and 25% of all pork production closed in April 2020, resulting in disrupted meat supply chains and shortages. In 2020, this meat supply shortage led to an increase in consumer demand for plant-based products in the U.S., with meat substitute sales increasing by 200% in the country in the week ending 18th April, compared to the same week in the previous year. Thus, the global crisis, in other words, is turning into a big opportunity for the plant-based meat sector.

Consumer Preference for Soy and Gluten-free Products

"Free-from" is one of the fastest-growing trends in the food industry. Soy and gluten-free diets have quickly become the fastest-growing nutritional movement, gaining popularity due to their health and therapeutic benefits. The increase in soy and gluten-free food products is mainly attributed to a rise in food sensitivities, regional dietary preferences, an increase in the diagnosis of coeliac disease, and the idea of using food as medicine. For instance, many people have allergies and intolerance for soy protein resulting in eye irritation, stomach problems, and other symptoms, which in some cases require hospitalization. Furthermore, gluten-free diets are one of the most popular diet trends globally. The increasing demand for gluten-free products is mainly attributed to the increasing incidences of diseases, most notably chronic and non-communicable diseases that lead to disability. As a result, there has been an increase in the number of people avoiding food products containing or fortified with soy and wheat ingredients. Thus, rising consumer preference toward soy-free food products across the globe hinders the growth of the soy and wheat protein-based food market to a notable extent.

Key Findings in the Global Plant-based Food Market Study:

Dairy Alternatives Segment to Dominate the Plant-based Food Market in 2022

Based on type, the plant-based food market is segmented into dairy alternatives, meat substitutes, meals, baked goods, confectionery, RTD beverages, eggs substitutes, seafood substitutes, and others. In 2022, the dairy alternatives segment is expected to account for the largest share of the plant-based food market. The large market share of this segment is attributed to factors such as the increasing number of lactose intolerant people, the growing ethical concerns amongst consumers about animal abuse in modern dairy farming practices, and the nutritional benefits offered by plant-based dairy products. However, the seafood substitute segment is expected to grow at the fastest CAGR during the forecast period due to the increasing consumer demand for vegan seafood, the rising number of investments and food innovations in species-specific seafood alternatives, and the increasing number of new product launches.

Dairy Alternative Market

Based on type, the dairy alternatives market is segmented into milk, cheese, yogurt, butter, ice cream, creamer, and others. In 2022, the milk segment is expected to account for the largest share of the dairy alternatives market. The large market share of this segment is mainly attributed to the increasing number of people with animal milk allergies, calorie concerns amongst consumers to avoid obesity, and the increasing prevalence of hypercholesterolemia. However, the yogurt segment is expected to grow at the fastest CAGR during the forecast period. The demand for plant-based yogurt is increasing at a higher rate in developed countries due to the growing number of vegan and health-conscious consumers.

Meat Substitute Market

Based on type, the meat substitutes market is segmented into tofu, TVP, burger patties, tempeh, hot dogs and sausages, seitan, meatballs, ground meat, nuggets, crumbles, shreds, others. In 2022, the tofu segment is estimated to account for the largest market share due to its higher adoption, attributed to its lower cost, easy availability, and the availability of a wide variety of types and flavors. However, the hot dogs and sausages segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is attributed to increasing their popularity, new product launches of plant-based sausages, and their increasing availability in many restaurants.

Soy Segment to Dominate the Plant-based Food Market in 2022

Based on source, the plant-based food market is segmented into soy, almond, wheat, pea, rice protein, and others. In 2022, the soy segment is expected to account for the largest share of the plant-based food market. The large share of this segment is attributed to factors such as the easy and wide availability of raw materials, lower cost compared to other sources, significant demand from meat alternatives manufacturers, higher consumer acceptance level, and its wide range of applications in numerous food & beverage sectors, including meat, dairy alternative, and bakery. However, the pea segment is expected to grow at the fastest CAGR during the forecast period due to the increasing desire amongst consumers to find sustainable and good tasting alternatives to animal-based proteins and the rising number of investments from leading manufacturers to increase pea protein production. In addition, peas are allergen-free, gluten-free, and lactose-free, which further increases the demand for pea-based food.

Business to Customer Segment to Dominate the Plant-based Food Market in 2022

Based on distribution channel, the plant-based food market is segmented into business to business (B2B) and business to customers (B2C). In 2022, the B2C distribution channel segment is estimated to account for the largest share of the plant-based food market. The large share of this segment is attributed to factors such as the increased sales of plant-based food in well-established supermarkets and hypermarkets chains; consumers prefer shopping from brick-and-mortar grocers due to easy access and availability, and the increasing consumer expenses on vegan food products. This segment is also expected to grow at the fastest CAGR during the forecast period due to the rapidly growing online retail sector.

Modern Groceries Segment to Dominate the B2C Plant-based Food Market in 2022

Based on type, the B2C distribution channel for the plant-based food market is segmented into modern groceries, convenience stores, specialty stores, online retail, and others. In 2022, the modern groceries segment is estimated to account for the largest share of the B2C plant-based food market. The large share of this segment is attributed to factors such as wider reach, greater shelf space, attractive discounts, and bundling strategies. However, the online retail segment is expected to grow at the fastest CAGR during the forecast period due to its faster accessibility and cost-effectiveness.

North America is Expected to Dominate the Plant-based Food Market in 2022

Based on geography, the plant-based food market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is estimated to account for the largest share of the plant-based food market. The leading position of North America in the plant-based food market is attributed to factors such as the high awareness regarding the importance of protein-rich diets, increased health consciousness amongst consumers, a well-established food sector, higher adoption of technological advancements in the food & beverage industry, and significant investments in the plant-based sector.

However, the Asia-Pacific plant-based food market is developing and expanding significantly. The market in Asia-Pacific is demonstrating signs of strong growth in the future. The high market growth in Asia-Pacific is attributed to the factors such as the growing adoption of emerging technologies for product innovation, collaborations between international and domestic food companies, increasing R&D investments by governments in the food sector, presence of a large number of key players in the market, and the rising number of vegan restaurants. The high market growth in the Asia-Pacific is further supported by factors such as the rapid growth in urbanization, the growing middle-class population and rising income level, and the growing awareness about the benefits of protein-rich diets.

China is set to drive the industry's growth, and the outbreak of the COVID-19 pandemic and other public health fears could serve as catalysts. Although the market is still small compared to Asia's giant meat supply chain, vegetarian alternatives to meat, dairy, and seafood have started gaining growing customers in the country.

Key Players

The plant-based food market is fragmented in nature, with several small and medium-sized companies and new players. These players have implemented various strategies to expand their product offerings and global footprints and augment their market shares over the past 4 to 5 years. The key strategies followed by most companies in the plant-based food market are new product launches, agreements, collaborations, partnerships, expansions, and acquisitions.

The key players operating in the global plant-based food market are Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), Danone SA (France), Garden Protein International, Inc. (Canada), Amy's Kitchen Inc. (U.S.), Plamil Foods Ltd. (U.K.), The Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Sanitarium Health and Wellbeing Company (Australia), Axiom Foods (U.S.), Daiya Foods Inc. (Canada), Earth's Own Food Company Inc. (Canada), Lightlife Foods, Inc. (U.S.), Marlow Foods Ltd. (U.K.), Taifun –Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), Nutrisoy Pty Ltd. (Australia), Nestlé S.A. (Switzerland), and Unilever PLC (U.K.).

Scope of the report

Plant-based Food Market, by Type

Dairy Alternatives
- Milk
- Cheese
- Yogurt
- Butter
- Ice Cream
- Creamer
- Others
Meat Substitutes
- TVP
- Burger Patties
- Tempeh
- Hot Dogs and Sausages
- Seitan
- Meatballs
- Ground Meat
- Nuggets
- Crumbles
- Shreds
- Others
Meals
Baked Goods
Confectionery
RTD Beverages
Egg Substitutes
Seafood Substitutes
Others

Plant-based Food Market, by Source

Soy
Almond
Wheat
Pea
Rice
Others

Plant-based Food Market, by Distribution Channel

Business to Business
Business to Customers
- Modern Groceries
- Convenience Store
- Specialty Store
- Online Retail
- Others

Plant-based Food Market, by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- Spain
- Italy
- France
- Netherlands
- Belgium
- Austria
- Poland
- Portugal
- Rest of Europe (RoE)
Asia-Pacific (APAC)
- China
- India
- Japan
- Australia
- Thailand
- South Korea
- Rest of Asia-Pacific (RoAPAC)
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
Middle East & Africa

Key Questions Answered in the Report-

What is the value of revenue generated from the sale of plant-based across the globe? At what rate is their demand expected to grow for the next 5–7 years?

In terms of value, the plant-based food market is expected to grow at a CAGR of 12.4% from 2022–2029 to reach USD 95.52 billion by 2029.

Which type segment is projected to create more traction in the plant-based food market?

The seafood substitutes segment is expected to offer more traction in the plant-based food market. This segment is expected to grow at the highest CAGR during the forecast period of 2022–2029. The high growth rate of this segment is driven by the increasing consumer demand for vegan seafood, the rising number of investments and food innovations in species-specific seafood alternatives, and the increasing number of new product launches.

What are the key factors supporting the growth of this market? What are the major opportunities for existing market players and new entrants in the global plant-based food market?

The growth of this market is driven by factors such as the increasing intolerance for animal protein amongst consumers, the growing vegan population, and the rising number of venture investments in plant-based food companies. In addition, the increasing number of research & development and new product launches by plant and protein alternative manufacturers and emerging economies, such as Asia-pacific, Latin America, and the Middle East & Africa, are expected to create lucrative opportunities for existing players and new entrants in this market

Which are the high-growth countries/regions in the market?

Asia-Pacific is expected to witness significant growth during the forecast period. The high market growth is attributed to factors such as the growing adoption of emerging technologies for product innovation, collaborations between international and domestic food companies, increasing R&D investments by governments in the food sector, presence of a large number of key players in the market, and the rising number of vegan restaurants.

Who are the major players operating in the global plant-based food market?

The key players operating in the global plant-based food market are Beyond Meat Inc. (U.S.), Impossible Foods Inc. (U.S.), Danone SA (France), Garden Protein International, Inc. (Canada), Amy's Kitchen Inc. (U.S.), Follow Your Heart (U.S.), The Hain Celestial Group, Inc. (U.S.), Sahmyook Foods (South Korea), Sanitarium Health and Wellbeing Company (Australia), Axiom Foods (U.S.), Daiya Foods Inc. (Canada), Earth's Own Food Company Inc. (Canada), Lightlife Foods, Inc. (U.S.), Marlow Foods Ltd. (U.K.), Taifun –Tofu GmbH (Germany), Atlantic Natural Foods LLC (U.S.), VBIte Food Ltd (U.K.), Nutrisoy Pty Ltd. (Australia), Nestlé S.A. (Switzerland), and Unilever PLC (U.K.).

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1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up Approach
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study

3. Executive Summary
3.1. Introduction
3.2. Market Dynamics
3.3. Segment Analysis
3.3.1. Type Analysis
3.3.1.1. Dairy Alternatives Market, by Type
3.3.1.2. Meat Substitutes Market, by Type
3.3.2. Source Analysis
3.3.3. Distribution Channel Analysis
3.3.3.1. B2C Distribution Channel Market, by Type
3.3.4. Regional-Level Analysis

4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Increasing Incidences of Intolerance for Animal Protein
4.2.2. Growing Preference for Plant-Based Food Products
4.2.3. Increasing Vegan and Vegetarian Population
4.2.4. Venture Investments in Plant-Based Food Companies
4.2.5. Innovation in Food Technology
4.3. Restraints
4.3.1. Expensive Nature of Plant-Based Products
4.3.2. Significant Preference for Animal-Based Products
4.3.3. Consumer Preference for Soy and Gluten-Free Products
4.4. Opportunities
4.4.1. Product Launches by Plant-Based Food and Alternative Protein Manufacturers
4.4.2. Emerging Economies
4.5. Trends
4.5.1. Rising Industry Concentration with Growth in Mergers and Acquisitions in the Plant-Based Food Space

5. Covid-19 Impact On the Plant-Based Food Market

6. Investment and Funding Scenario in the Plant-Based Food Market
6.1. Introduction
6.2. Investments/Funding Scenario (April 2022)

7. Global Plant-Based Food Market, by Type
7.1. Introduction
7.2. Dairy Alternatives
7.2.1. Milk
7.2.2. Cheese
7.2.3. Yogurt
7.2.4. Butter
7.2.5. Ice Cream
7.2.6. Creamer
7.2.7. Other Dairy Alternatives
7.3. Meat Substitutes
7.3.1. Tofu
7.3.2. Textured Vegetable Protein (TVP)
7.3.3. Burger Patties
7.3.4. Tempeh
7.3.5. Hot Dogs & Sausages
7.3.6. Seitan
7.3.7. Meatballs
7.3.8. Ground Meat
7.3.9. Nuggets
7.3.10. Crumbles
7.3.11. Shreds
7.3.12. Other Meat Substitutes
7.4. Meals
7.5. Baked Goods
7.6. Confectionery
7.7. Rtd Beverages
7.8. Egg Substitutes
7.9. Seafood Substitutes
7.10. Others Plant-Based Food

8. Global Plant-Based Food Market, by Source
8.1. Introduction
8.2. Soy
8.3. Almond
8.4. Wheat
8.5. Pea
8.6. Rice
8.7. Other Sources

9. Global Plant-Based Food Market, by Distribution Channel
9.1. Introduction
9.2. Business -to-Business
9.3. Business-to-Consumer
9.3.1. Modern Groceries
9.3.2. Convenience Stores
9.3.3. Specialty Stores
9.3.4. Online Retail Stores
9.3.5. Other B2C Distribution Channels

10. Plant-Based Food Market, by Geography
10.1. Introduction
10.2. Asia-Pacific
10.2.1. China
10.2.2. India
10.2.3. Japan
10.2.4. Australia
10.2.5. Thailand
10.2.6. South Korea
10.2.7. Rest of Asia-Pacific (RoAPAC)
10.3. North America
10.3.1. U.S.
10.3.2. Canada
10.4. Europe
10.4.1. Germany
10.4.2. U.K.
10.4.3. Spain
10.4.4. Italy
10.4.5. France
10.4.6. Netherlands
10.4.7. Belgium
10.4.8. Austria
10.4.9. Poland
10.4.10. Portugal
10.4.11. Rest of Europe (RoE)
10.5. Latin America
10.5.1. Brazil
10.5.2. Mexico
10.5.3. Argentina
10.5.4. Rest of Latin America (RoLATAM)
10.6. Middle East & Africa

11. Competitive Landscape
11.1. Introduction
11.2. Key Growth Strategies
11.3. Competitive Benchmarking

12. Company Profiles
12.1. Beyond Meat Inc.
12.2. Impossible Foods Inc
12.3. Danone Sa
12.4. Garden Protein International, Inc. (Part of Conagra Brands, Inc., U.S.)
12.5. Amy's Kitchen Inc.
12.6. Plamil Foods Ltd.
12.7. The Hain Celestial Group, Inc.
12.8. Sahmyook Foods
12.9. Sanitarium Health and Wellbeing Company
12.10. Axiom Foods
12.11. Daiya Foods Inc. (Part of Otsuka Pharmaceutical Co., Ltd., Japan)
12.12. Earth's Own Food Company Inc.
12.13. Lightlife Foods, Inc. (Part of Maple Leaf Foods Inc., Canada)
12.14. Marlow Foods Ltd. (Part of Monde Nissin Corporation, Philippines)
12.15. Taifun –Tofu GmbH
12.16. Atlantic Natural Foods LLC (Part of Aft Holdings, Inc., U.S.)
12.17. Vbite Food Ltd
12.18. Nutrisoy Pty Ltd.
12.19. Nestlé S.A.
12.20. Unilever plc

13. Appendix
13.1. Questionnaire
13.2. Available Customization

List of Tables

Table 1 Global Plant-Based Food Market: Impact Analysis of Market Drivers (2022–2029)
Table 2 Global Plant-Based Food Market: Impact Analysis of Market Restraints (2022–2029)
Table 3 Price Comparison Between Meat and Meatless Items at Fast-Food Chains (2021)
Table 4 Global Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 5 Global Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 6 Plant-Based Dairy Alternatives Market Size, by Country/Region, 2020–2029 (USD Million)
Table 7 Plant-Based Milk Market Size, by Country/Region, 2020–2029 (USD Million)
Table 8 Plant-Based Cheese Market Size, by Country/Region, 2020–2029 (USD Million)
Table 9 Plant-Based Yogurts Market Size, by Country/Region, 2020–2029 (USD Million)
Table 10 Plant-Based Butter Market Size, by Country/Region, 2020–2029 (USD Million)
Table 11 Plant-Based Ice Cream Market Size, by Country/Region, 2020–2029 (USD Million)
Table 12 Plant-Based Creamer Market Size, by Country/Region, 2020–2029 (USD Million)
Table 13 Other Plant-Based Dairy Alternatives Market Size, by Country/Region, 2020–2029 (USD Million)
Table 14 Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 15 Plant-Based Meat Substitutes Market Size, by Country/Region, 2020–2029 (USD Million)
Table 16 Plant-Based Tofu Market Size, by Country/Region, 2020–2029 (USD Million)
Table 17 Plant-Based TVP Market Size, by Country/Region, 2020–2029 (USD Million)
Table 18 Plant-Based Burger Patties Market Size, by Country/Region, 2020–2029 (USD Million)
Table 19 Plant-Based Tempeh Market Size, by Country/Region, 2020–2029 (USD Million)
Table 20 Plant-Based Hot Dogs and Sausages Market Size, by Country/Region, 2020–2029 (USD Million)
Table 21 Plant-Based Seitan Market Size, by Country/Region, 2020–2029 (USD Million)
Table 22 Plant-Based Meatballs Market Size, by Country/Region, 2020–2029 (USD Million)
Table 23 Plant-Based Ground Meat Market Size, by Country/Region, 2020–2029 (USD Million)
Table 24 Plant-Based Nuggets Market Size, by Country/Region, 2020–2029 (USD Million)
Table 25 Plant-Based Crumbles Market Size, by Country/Region, 2020–2029 (USD Million)
Table 26 Plant-Based Shreds Market Size, by Country/Region, 2020–2029 (USD Million)
Table 27 Other Plant-Based Meat Substitutes Market Size, by Country/Region, 2020–2029 (USD Million)
Table 28 Plant-Based Meals Market Size, by Country/Region, 2020–2029 (USD Million)
Table 29 Plant-Based Baked Goods Market Size, by Country/Region, 2020–2029 (USD Million)
Table 30 Plant-Based Confectionery Market Size, by Country/Region, 2020–2029 (USD Million)
Table 31 Plant-Based RTD Beverages Market Size, by Country/Region, 2020–2029 (USD Million)
Table 32 Plant-Based Egg Substitutes Market Size, by Country/Region, 2020–2029 (USD Million)
Table 33 Plant-Based Seafood Substitutes Market Size, by Country/Region, 2020–2029 (USD Million)
Table 34 Other Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 35 Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 36 Soy Derived Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 37 Almond-Derived Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 38 Wheat-Derived Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 39 Pea-Derived Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 40 Rice-Derived Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 41 Other Source-Derived Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 42 Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 43 B2B Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 44 B2C Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 45 B2C Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 46 Plant-Based Food Market Size for Modern Groceries, by Country/Region, 2020–2029 (USD Million)
Table 47 Plant-Based Food Market Size for Convenience Stores, by Country/Region, 2020–2029 (USD Million)
Table 48 Plant-Based Food Market Size for Specialty Stores, by Country/Region, 2020–2029 (USD Million)
Table 49 Plant-Based Food Market Size for Online Retail Stores, by Country/Region, 2020–2029 (USD Million)
Table 50 Plant-Based Food Market Size for other B2C Distribution Channels, by Country/Region, 2020–2029 (USD Million)
Table 51 Plant-Based Food Market Size, by Country/Region, 2020–2029 (USD Million)
Table 52 Asia-Pacific: Plant-Based Food Market Size, by Country, 2020–2029 (USD Million)
Table 53 Asia-Pacific: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 54 Asia-Pacific: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 55 Asia-Pacific: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 56 Asia-Pacific: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 57 Asia-Pacific: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 58 Asia-Pacific: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 59 China: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 60 China: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 61 China: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 62 China: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 63 China: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 64 China: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 65 India: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 66 India: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 67 India: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 68 India: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 69 India: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 70 India: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 71 Japan: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 72 Japan: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 73 Japan: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 74 Japan: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 75 Japan: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 76 Japan: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 77 Australia: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 78 Australia: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 79 Australia: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 80 Australia: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 81 Australia: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 82 Australia: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 83 Thailand: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 84 Thailand: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 85 Thailand: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 86 Thailand: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 87 Thailand: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 88 Thailand: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 89 South Korea: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 90 South Korea: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 91 South Korea: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 92 South Korea: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 93 South Korea: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 94 South Korea: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 95 Rest of Asia-Pacific: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 96 Rest of Asia-Pacific: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 97 Rest of Asia-Pacific: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 98 Rest of Asia-Pacific: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 99 Rest of Asia-Pacific: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 100 Rest of Asia-Pacific: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 101 North America: Plant-Based Food Market Size, by Country, 2020–2029 (USD Million)
Table 102 North America: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 103 North America: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 104 North America: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 105 North America: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 106 North America: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 107 North America: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 108 U.S.: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 109 U.S.: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 110 U.S.: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 111 U.S.: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 112 U.S.: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 113 U.S.: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 114 Canada: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 115 Canada: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 116 Canada: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 117 Canada: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 118 Canada: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 119 Canada: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 120 Europe: Plant-Based Food Market Size, by Country, 2020–2029 (USD Million)
Table 121 Europe: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 122 Europe: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 123 Europe: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 124 Europe: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 125 Europe: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 126 Europe: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 127 Germany: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 128 Germany: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 129 Germany: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 130 Germany: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 131 Germany: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 132 Germany: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 133 U.K.: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 134 U.K.: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 135 U.K.: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 136 U.K.: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 137 U.K.: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 138 U.K.: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 139 Spain: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 140 Spain: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 141 Spain: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 142 Spain: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 143 Spain: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 144 Spain: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 145 Italy: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 146 Italy: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 147 Italy: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 148 Italy: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 149 Italy: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 150 Italy: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 151 France: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 152 France: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 153 France: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 154 France: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 155 France: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 156 France: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 157 Netherlands: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 158 Netherlands: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 159 Netherlands: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 160 Netherlands: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 161 Netherlands: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 162 Netherlands: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 163 Belgium: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 164 Belgium: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 165 Belgium: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 166 Belgium: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 167 Belgium: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 168 Belgium: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 169 Austria: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 170 Austria: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 171 Austria: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 172 Austria: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 173 Austria: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 174 Austria: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 175 Poland: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 176 Poland: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 177 Poland: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 178 Poland: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 179 Poland: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 180 Poland: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 181 Portugal: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 182 Portugal: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 183 Portugal: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 184 Portugal: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 185 Portugal: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 186 Portugal: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 187 Rest of Europe: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 188 Rest of Europe: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 189 Rest of Europe: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 190 Rest of Europe: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 191 Rest of Europe: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 192 Rest of Europe: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 193 Latin America: Plant-Based Food Market Size, by Country, 2020–2029 (USD Million)
Table 194 Latin America: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 195 Latin America: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 196 Latin America: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 197 Latin America: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 198 Latin America: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 199 Latin America: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 200 Brazil: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 201 Brazil: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 202 Brazil: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 203 Brazil: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 204 Brazil: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 205 Brazil: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 206 Mexico: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 207 Mexico: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 208 Mexico: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 209 Mexico: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 210 Mexico: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 211 Mexico: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 212 Argentina: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 213 Argentina: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 214 Argentina: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 215 Argentina: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 216 Argentina: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 217 Argentina: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 218 Rest of Latin America: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 219 Rest of Latin America: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 220 Rest of Latin America: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 221 Rest of Latin America: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 222 Rest of Latin America: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 223 Rest of Latin America: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 224 Middle East & Africa: Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 225 Middle East & Africa: Plant-Based Dairy Alternatives Market Size, by Type, 2020–2029 (USD Million)
Table 226 Middle East & Africa: Plant-Based Meat Substitutes Market Size, by Type, 2020–2029 (USD Million)
Table 227 Middle East & Africa: Plant-Based Food Market Size, by Source, 2020–2029 (USD Million)
Table 228 Middle East & Africa: Plant-Based Food Market Size, by Distribution Channel, 2020–2029 (USD Million)
Table 229 Middle East & Africa: Business-to-Consumer Plant-Based Food Market Size, by Type, 2020–2029 (USD Million)
Table 230 Total Number of Strategic Developments, by Company (2019–2022)

List of Figures

Figure 1 Market Ecosystem
Figure 2 Research Process
Figure 3 Key Secondary Sources
Figure 4 Primary Research Techniques
Figure 5 Key Executives Interviewed
Figure 6 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 7 Market Sizing and Growth Forecast Approach
Figure 8 Seafood Substitutes Segment To Witness Significant Market Growth During 2022–2029
Figure 9 Pea Segment To Witness Significant Market Growth During 2022–2029
Figure 10 The B2C Distribution Channel Segment To Witness Significant Market Growth During 2022–2029
Figure 11 Global Plant-Based Food Market Scenario, by Geography (2022)
Figure 12 Market Dynamics
Figure 13 A Lighthouse for the Future Food Consumption
Figure 14 Investments in the Global Alternative Products Industry (2019-2020)
Figure 15 Global Plant-Based Food Market Size, by Type, 2022–2029 (USD Million)
Figure 16 Global Dairy Alternatives Market Size, by Type, 2022–2029 (USD Million)
Figure 17 Global Plant-Based Meat Substitutes Market Size, by Type, 2022–2029 (USD Million)
Figure 18 Plant-Based Food Market Size, by Source, 2022–2029 (USD Million)
Figure 19 Plant-Based Food: Value Chain With Key Business Activities and Players Within
Figure 20 Plant-Based Food Market Size, by Distribution Channel, 2022–2029 (USD Million)
Figure 21 B2C Plant-Based Food Market Size, by Type, 2022–2029 (USD Million)
Figure 22 Plant-Based Food Market Size, by Region, 2022–2029 (USD Million)
Figure 23 Asia-Pacific: Plant-Based Food Market Snapshot
Figure 24 North America: Plant-Based Food Market Snapshot
Figure 25 Venture Capital Investments in Alternatives for Animal-Based Products in Europe (USD Million)
Figure 26 Europe: Plant-Based Food Market Snapshot
Figure 27 Latin America: Plant-Based Food Market Snapshot
Figure 28 Key Growth Strategies Adopted by Leading Players (2019-2022)
Figure 29 Global Plant-Based Food Market: Competitive Benchmarking, by Product Type
Figure 30 Beyond Meat Inc.: Financial Overview (2021)
Figure 31 Danone Sa: Financial Overview (2021)
Figure 32 Conagra Brands, Inc.: Financial Overview (2021)
Figure 33 The Hain Celestial Group, Inc.: Financial Overview (2021)
Figure 34 Nestlé S.A: Financial Overview (2021)
Figure 35 Unilever Plc: Financial Overview (2021)

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