"Market Intelligence that Adds Flavour to Your Success"

Plant-based Meal Market Size, Share & Industry Analysis, By Product Type (Plant-based Dairy, Plant-based Meat, Plant-based Milk, Others), By Distribution Channel (Offline, Online) Others and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI102251 | Status : Ongoing

 

KEY MARKET INSIGHTS

The plant-based meal is defined as the food which is derived from various plant sources such as vegetables, fruits, seeds, nuts, beans, whole grains, tofu, and lentils. Plant-based food products are rich in protein, minerals, and vitamins, the demand of which is growing at a speedy pace. The plant-based meal market is projected to witness decent growth in the upcoming years due to their high nutritional values and environment-friendly nature. Realizing the growing acceptance of plant-based meals and food, various manufacturers are using clean-label and plant-based ingredients in the manufacturing of plant-based food products. However, the increasing cost of plant-based meals is expected to pose a threat to its growth, especially across the countries where the per capita income of consumers is low. According to the estimates of the Plant-Based Foods Association, the retail sales of plant-based food products increased by 31% in 2018 as compared to the previous year 2017.


The plant-based meal is one of the booming businesses across the globe as many manufacturers are replacing animal products such as seafood, eggs, dairy, and meat with meals made from plant sources. Growth in demand for healthy and convenience food products across the globe is one of the factors expected to drive the demand for plant-based meals worldwide. Many manufacturers such as Danone S.A., The Campbell Soup Company, Beyond Meats Inc., and others are launching new products to establish their prominence in the global market. In September 2019, Tesco plc. Launched plant-based ‘Pot Noodle’ that only requires the addition of hot water to cook.

Up Arrow

Key Market Driver -

Proliferating demand for plant-based and clean-label products is expected to drive the market growth.

Down Arrow

Key Market Restraint -

High cost of the plant-based food products can hinder the market growth.


The plant-based meal industry is growing across the world, due to the increasing number of consumers who are opting for vegan diet and switching from a conventional diet that include dairy and meat products. Increasing the occurrence of obesity, cardiovascular diseases, diabetes, hypertension and other lifestyle diseases are encouraging consumers to include plant-based food products in their regular diet as they are less processed and can offer significant health benefits. Furthermore, the emergence of market players such as Impossible Foods, Inc., The Vegetarian Butcher, and Sweet Earth Inc. and their active participation in the plant-based meal industry is predicted to enhance the market growth during the forecast period (2019-2026). However, the high cost of the plant-based meal is one of the factors restraining the market growth.

Key Players Covered:


The key players that are identified in the global plant-based meal market include SunOpta, Danone S.A., Beyond Meat, Impossible Foods Inc., The Kellogg Company, and The Hain Celestial Group, Inc., Unilever, The Campbell Soup Company, Archer Daniels Midland Company, Cargill, Incorporated, Eden Foods Inc., Kerry Group plc., and Sun Brothers, LLC.

The consumers are becoming more aware of the benefits of consuming plant-based meals, and as milk is a regular product in the kitchen shelves of consumers, the demand for plant-based milk is increasing at a rapid pace. The consumers are inclining towards plant-based milk and its by-products such as milkshakes and ice-creams, and others. The rising demand for convenience and ready-to-drink milk products in many regions is expected to increase the utilization of plant-based milk. The plant-based milk is also gaining massive popularity among the milk products manufacturers due to easy availability in the market. Among the distribution channels, the offline segment is dominating and is expected to maintain its dominance throughout the forecast period. However, the revenue contribution by online sales channels is expected to proliferate significantly in the upcoming years due to high convenience and “delivery at doorstep” characteristics associated with online sales.

Regional Analysis:


To gain extensive insights into the market, Request for Customization


The concern of animal welfare is rising among the consumers in various countries of North America, such as the US and Canada. North America is one of the regions expected to dominate the global plant-based meal market as a huge number of consumers based in the region are adopting vegan and plant-based diet. The plant-based meal market in Asia Pacific is projected to grow at a considerable pace during the forecast period, due to the growing health & wellness trend among Asian consumers. The dairy industry is rapidly growing in countries such as India and China, attributed to the increasing population within these countries, which indicates the high potential for the growth of plant-based milk in these economies.

Segmentation






















 ATTRIBUTE

 DETAILS

By Product Type



  • Plant-based Dairy

  • Plant-based Meat

  • Plant-based Milk

  • Others



By Distribution Channel



  • Offline

  • Online



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments



  • In September 2017, Nestle which is an US-based company entered into the plant-based food market by acquiring the Sweet Earth Inc. which is an US-based company.

  • In August 2019, Nestle launched plant-based mince which is a ground meat and an improved version of incredible burger in many European countries such as Germany, Norway, Austria, and Sweden.





  • Ongoing
  • 2023
  • 2019-2022
  • Pre Book
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Food & Beverages Clients
Nissin
Daesang
Ferrero
Fresenius
Owens
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X