Global Plant-Based Foods Market Is Anticipated To Foresee A Significant Growth, North America To Witness The Highest Demand
The Plant-Based
Foods market stood at US$ 23,010.7 million in 2019
and is expected to grow at a CAGR of 14.87% during the forecast period 2021-26.
A more sustainable future requires taking action to ensure healthier food
practices in healthcare facilities. There is a growing movement towards
embedding climate-friendly practices in many sectors of society; the healthcare
sector has a unique opportunity to protect environmental and public health,
which can be achieved by implementing sustainable food practices in healthcare
facilities. Only an estimated 10% of plant protein sources are currently being
utilized. With the rise in demand for plant protein, along with the move
towards allergen-friendly ingredients, a greater variety of plant sources will
likely be used. Consumers are increasingly considering such factors as health,
sustainability, and social impact in making their food decisions.
Healthcare institutions are significant providers of
food services, offering staff and patients at least three meals a day. In 2017,
the American Medical Association adopted a resolution calling on hospitals to
provide more plant-based meals and remove processed meats to improve hospital
food environments. The most complete population nutritional guidelines are
those published by the WHO/FAO based on the best currently available scientific
evidence on the relationship of diet, nutrition, and physical activity to
chronic diseases with a global perspective. The WHO experts emphasize that
energy consumed each day should match energy expenditure to prevent weight
gain. The increasing year on year awareness regarding the “Veganuary” and the
fact that major multiple retailers have rapidly expanded their shelf space and
own label new product development for plant-based products underline the growth
in the sector.
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The plant-based foods are segmented into Plant-Based
Milk, Plant-Based Meat, Plant-Based Creamer, Plant-Based Cheese, Plant-Based
Yogurt, Plant-Based Butter, and Other Plant-Based Products based on the product
type. The dominance of the milk category is driven by the growth in dairy
alternative drinks such as soy, nut, coconut, and other plant-based milk and an
increasing number of lactose intolerance populations across the world.
Based on the application, the global plant-based
food market is segmented beverages, bakery and snacks, breakfast cereals,
infant nutrition, and other applications. Plant-based beverages and other dairy-alternative
beverages are gaining a significant consumer base, driven most recently by
people’s increased focus on health and sustainability as well as the fact that
there are simply more high-quality products available for people to explore and
enjoy.
The soy, almond, and pea are amongst the major
sources for the extraction of the plant-based food products. In 2019, soy
segment by source generated a revenue of US$ 9,540.4 million. Soy serves as a
lean source of high-quality complete protein which is lactose-free,
cholesterol-free, and vegetarian /vegan friendly. Since much research has been
conducted to better understand the health benefits to humans from the
consumption of soy, consumer interests have shifted over time.
For detailed analysis
on the regulations in Global Plant-Based Foods Market browse through: https://univdatos.com/report/global-market-insights-on-plant-based-foods-2019-2026
For a deep-dive analysis of the industry, the study
also includes regional and country-level analysis. The report comprises regions
including North America, Europe, Asia Pacific, and the Rest of World. The
American plant-based food market is currently booming, and investment in this
sector is rising steadily. For example, Greenleaf Foods recently announced a
US$ 310 million investment in a new production facility.
Some of the major players operating in the global
plant-based food market are Tofurky, Quorn foods Inc., Amy’s kitchen, Archer
Daniel’s Midland, Claudron Foods, Morning Star Farms, Sweet Earth Foods,
Impossible Foods, Maple Leaf food, and Beyond Burgers. These companies have
adopted numerous growth strategies including innovative product launches,
investment in R&D, partnership, mergers, etc. to sustain in the growing plant-based
food market. For instance, in 2019, The Vegetarian Butcher announced its first
deal with a major restaurant chain. Unilever then started supply 100%
plant-based patties for Burger King’s ‘Rebel Whopper’ to over 2,500 stores in
25 countries in EMEA.
Global Plant-Based Foods Market Segmentation
Market Insights, by
Product
Plant-Based Milk
Plant-Based Meat
Plant-Based Creamer
Plant-Based Cheese
Plant-Based Yogurt
Plant-Based Butter
Other Plant-Based Products
Market Insights, by
Application
Supplements and Nutritional Powders
Beverages
Bakery and Snacks
Breakfast Meals
Infant Nutrition
Other Plant-Based Foods Application
Market Insights, by Source
Almond
Soy
Pea
Other Sources
Market Insights, by Region
North America
United States
Canada
Mexico
Rest of NA
Europe
Germany
France
United Kingdom
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of APAC
Rest of World
Top Company Profiles
SWEET EARTH FOODS
Quorn Foods
Amy’s Kitchen, Inc
Archer Daniel’s Midland
Cauldron Foods
Morning Star Farms
Beyond Meat Company
Impossible Food, Ltd.
Maple Leaf Food
Tofurky
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Labels: Food, market research, Plant based food market, Plant-Based Meat
