Global Plant Based Food Market Report By Product Type (Dairy Alternatives, Meat Substitute), By Source (Soy Protein, Almond Protein, Wheat Protein, Pea Protein, Rice Protein), By Distribution Channel (Business to Business, Business to Customers) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2020-2027

ID:VMR11213898
December 2020
Report Formats:

Plant Based Food Market Overview
The key drivers impacting the plant-based food market is the growing awareness about vegan food options leads to the growing demand for plant-based food globally. For instance, according to the food revolution network in the U.S., there was a 600% increase in people identifying as vegans in the U.S in the last three years. Similarly, in the UK, people who identify as vegans have raised by 350%. In addition to this, with the growing incidence of obesity, hypertension, cardiovascular diseases, people are particular about eating healthy. According to the health data organization, there are around 2.1 billion people (that is 30% of the world’s population) who were, are either overweight or obese globally in 2015. According to the International Diabetic Federation (IDF), there were approximately 463 million adults (20-79 years) who were living with diabetes in the year 2019 and are expected to reach 700 million by 2045.

The global plant-based food market size was valued at USD 16.9 billion in 2019 and is estimated to reach USD 34 billion by 2026 with a prominent CAGR of 10.5% during the forecast period of 2019-2026.

Moreover, the high prevalence of incidents caused by the intolerance for animal protein across the globe is anticipated to increase the plant-based food market demand under the forecast period. According to the National Institute of Allergy and Infectious Diseases, around 90% of these food allergies are caused by eggs, milk, fish, red meat, soy, and nuts. 

The high changing consumer perceptions towards vegetarian diets as well as its potential benefits in regulating cholesterol and insulin levels is a key determinant adding growth to the market. Also, the current trend of eating vegan pasta and vegan chocolates globally is considered as the key factor that is positively impacting the market. However, the high cost and fluctuating prices may hamper the global plant-based food industry in the long run. Also, the significant preference for animal-based products is likely to restrict the market growth. The current industry trends show the growing focus towards recycling and reuse of plant-based food and high prospects for electrification in transport in the coming decade are creating new market opportunities for the key players.

The plant-based food market is vast, with a large number of local and global players. The key leaders follow various strategies to improve their market position, such as mergers, acquisitions, expansions, and improved quality products at the best prices to enhance their market share across the world. For instance, In May 2020, JUST Inc, a company that implements progressive science and technology to develop more sustainable and healthier food products, combined with Michael Foods, a Post Holdings subsidiary and one of the chief processors of value-added eggs worldwide, in order to provide the top-selling, plant-based JUST Egg to millions of consumers in the U.S.

Global Plant Based Food Market Share
Similarly, in April 2020, REFILE-Cargill also expanded its plant-based protein food for China following a successful trial of plant-based nuggets by Yum China Holdings Inc.’s KFC. The company also plans to offer more plant-based products to the foodservice sector. The report studies a few key players of the global plant-based food market in detail, covering the company profile, product list, and financial information. The dominating key players included in the report are Beyond Meat, Impossible Foods, Danone, Garden Protein International, Amy’s Kitchen, Follow Your Heart, The Hain Celestial, Sahmyook Foods, Sanitarium Health and Wellbeing, Axiom Foods, Daiya Foods, Earth's Own Food Company, Lightlife Foods, REFILE-Cargill., Taifun-Tofu GmbH, Atlantic Natural Foods, JUST Inc, and Nutrisoy Pty always been the initial targets of plant-based food companies and many others. 

In this market research report, the market is segmented by product, source, distribution channel, and region.

By Product Analysis
By product, the report is categorized into dairy alternatives, meat substitutes, plant-based eggs, confectionery, and others. The dairy alternative market is further segmented into Plant-Based Milk, Ice Cream, Creamer, Yogurt, Butter, Cheese, and Others. The meat substitute market is further segmented into Tofu, TVP, Tempeh, Seitan, Burger Patties, Sausages, Ground Meat, Meatballs, Nuggets, Crumbles and others. Tofu dominates the meat substitute market due to the growing demand of tofu as it is very rich in protein content. A dairy alternative dominates the product segment in 2019 with a maximum market share of xxx in terms of volume as well as revenue. It is expected to maintain its dominancy over the forecast period because of its growing adoption due to benefits offered by plant-based dairy products, and the rising number of lactose-intolerant people. Moreover, the rising awareness of ethical concerns about animal abuse in modern dairy farming practices is also driving the dairy alternative product segment. 

By Source Analysis
By source, the report is categorized into soy protein, wheat protein, almond protein, pea protein, and rice protein. The Pea protein segment dominates the source segment in 2019 with a maximum market share. It is due to the growing consumer’s desire to find good tasting and sustainable animal-based protein alternatives, and its nutritional qualities as well as its allergen-free, gluten-free, and lactose-free properties. Moreover, growing investments from major manufacturers such as Ingredion Inc. (U.S.) and  Roquette Frères Le Romain (France) in this space are also supporting the growing demand for pea protein sourced plant-based products across the globe.

By Distribution Channel Analysis
By distribution channel, the report is categorized into Business to Business, Business to Customers. Business to Customers (B2C) dominates the distribution channel segment in 2019 with a maximum market share. It is due to the growing number of supermarkets and hypermarkets and augmented overall product sales from these outlets are encouraging its demand. Moreover, growing consumer expenditure on vegan products and their preference for shopping from brick-and-mortar grocers due to easy availability and access is driving the Business to Customers (B2C) market globally. 

By Region Analysis
In the regional outlook of the global plant-based food market, Europe dominates with the highest market share of 33.99% in 2019. Europe region is the significant region globally driving the market share over a forecast period. The rapidly growing adoption of vegan meat alternatives such as soy sausages, wheat burger patties, pea fillets, lentil strips, and oat nuggets, is the primary growth factor contributing at a regional level. Moreover, the increasing awareness towards harmful effects of white & red meat consumption and other health issues such as difficulty in digesting high saturated fat concentration, and bacterial infections caused by seafood borne bacterial infections driving the market in the UK, Germany, Italy, and France. The APAC market is anticipated to record considerable growth during the forecast period due to the presence of the key players, raising awareness about the benefits of protein diet in daily nutrition in the region.

Market Segmentation covered in the Report:
By Product Type
  • Dairy Alternatives
    • Plant-Based Milk
    • Ice Cream
    • Creamer
    • Yogurt
    • Butter
    • Cheese
    • Others
  • Meat Substitute
    • Tofu
    • TVP
    • Tempeh
    • Seitan
    • Burger Patties
    • Sausages
    • Ground Meat
    • Meatballs
    • Nuggets
    • Crumbles
    • Others
    • Plant-based Eggs/Egg Substitute
    • Confectionery
    • Others
By Source
  • Soy Protein
  • Almond Protein
  • Wheat Protein
  • Pea Protein
  • Rice Protein
By Distribution Channel
  • Business to Business
  • Business to Customers
    • Modern Groceries
    • Convenience Store
    • Specialty Store
    • Online Retail
    • Others
By Region
• North America              
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

METHODOLOGY
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources,  Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
 
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.

TABLE OF CONTENTS
 
1 . PREFACE
       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
 
2 . EXECUTIVE SUMMARY
       2.1. Highlights of Market
       2.2. Global Market Snapshot
 
3 . PLANT BASED FOOD – INDUSTRY ANALYSIS
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Product Type
           3.7.2 By Source
           3.7.3 By Distribution Channel
           3.7.4 By Region
 
4 . VALUE CHAIN ANALYSIS
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
 
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis
 
6 . GLOBAL PLANT BASED FOOD MARKET ANALYSIS BY PRODUCT TYPE
       6.1 Overview by Product Type
       6.2 Historical and Forecast Data
       6.3 Analysis by Product Type
       6.4 Dairy Alternatives Market by Regions
       6.6 Meat Substitute Market by Regions
 
7 . GLOBAL PLANT BASED FOOD MARKET ANALYSIS BY SOURCE
       7.1 Overview by Source
       7.2 Historical and Forecast Data
       7.3 Analysis by Source
       7.4 Soy Protein Market by Regions
       7.5 Almond Protein Market by Regions
       7.6 Wheat Protein Market by Regions
       7.7 Pea Protein Market by Regions
       7.8 Rice Protein Market by Regions
 
8 . GLOBAL PLANT BASED FOOD MARKET ANALYSIS BY DISTRIBUTION CHANNEL
       8.1 Overview by Distribution Channel
       8.2 Historical and Forecast Data
       8.3 Analysis by Distribution Channel
       8.4 Business to Business Market by Regions
       8.5 Business to Customers Market by Regions
 
9 . GLOBAL PLANT BASED FOOD MARKET ANALYSIS BY GEOGRAPHY
       9.1. Regional Outlook
       9.2. Introduction
       9.3. North America
           9.3.1. Overview, Historic and Forecast Data
           9.3.2. North America By Segment
           9.3.3. North America By Country
           9.3.4. United State
           9.3.5. Canada
           9.3.6. Mexico
       9.4. Europe
           9.4.1. Overview, Historic and Forecast Data
           9.4.2. Europe by Segment
           9.4.3. Europe by Country
           9.4.4. United Kingdom
           9.4.5. France
           9.4.6. Germany
           9.4.7. Italy
           9.4.8. Russia
           9.4.9. Rest Of Europe
       9.5. Asia Pacific
           9.5.1. Overview, Historic and Forecast Data
           9.5.2. Asia Pacific by Segment
           9.5.3. Asia Pacific by Country
           9.5.4. China
           9.5.5. India
           9.5.6. Japan
           9.5.7. South Korea
           9.5.8. Australia
           9.5.9. Rest Of Asia Pacific
       9.6. Latin America
           9.6.1. Overview, Historic and Forecast Data
           9.6.2. Latin America by Segment
           9.6.3. Latin America by Country
           9.6.4. Brazil
           9.6.5. Argentina
           9.6.6. Peru
           9.6.7. Chile
           9.6.8. Rest of Latin America
       9.7. Middle East & Africa
           9.7.1. Overview, Historic and Forecast Data
           9.7.2. Middle East & Africa by Segment
           9.7.3. Middle East & Africa by Country
           9.7.4. Saudi Arabia
           9.7.5. UAE
           9.7.6. Israel
           9.7.7. South Africa
           9.7.8. Rest Of Middle East And Africa
 
10 . COMPETITIVE LANDSCAPE OF THE PLANT BASED FOOD COMPANIES
       10.1. Plant Based Food Market Competition
       10.2. Partnership/Collaboration/Agreement
       10.3. Merger And Acquisitions
       10.4. New Product Launch
       10.5. Other Developments
 
11 . COMPANY PROFILES OF PLANT BASED FOOD INDUSTRY
       11.1. Company Share Analysis
       11.2. Market Concentration Rate
       11.3. Beyond Meat
           11.3.1. Company Overview
           11.3.2. Financials
           11.3.3. Products
           11.3.4. Recent Developments
       11.4. Impossible Foods
           11.4.1. Company Overview
           11.4.2. Financials
           11.4.3. Products
           11.4.4. Recent Developments
       11.5. Danone
           11.5.1. Company Overview
           11.5.2. Financials
           11.5.3. Products
           11.5.4. Recent Developments
       11.6. Garden Protein International
           11.6.1. Company Overview
           11.6.2. Financials
           11.6.3. Products
           11.6.4. Recent Developments
       11.7. Amy’s Kitchen
           11.7.1. Company Overview
           11.7.2. Financials
           11.7.3. Products
           11.7.4. Recent Developments
       11.8. Follow Your Heart
           11.8.1. Company Overview
           11.8.2. Financials
           11.8.3. Products
           11.8.4. Recent Developments
       11.9. The Hain Celestial
           11.9.1. Company Overview
           11.9.2. Financials
           11.9.3. Products
           11.9.4. Recent Developments
       11.10. Sahmyook Foods
           11.10.1. Company Overview
           11.10.2. Financials
           11.10.3. Products
           11.10.4. Recent Developments
       11.11. Sanitarium Health and Wellbeing
           11.11.1. Company Overview
           11.11.2. Financials
           11.11.3. Products
           11.11.4. Recent Developments
       11.12. Axiom Foods
           11.12.1. Company Overview
           11.12.2. Financials
           11.12.3. Products
           11.12.4. Recent Developments
       11.13. Daiya Foods
           11.13.1. Company Overview
           11.13.2. Financials
           11.13.3. Products
           11.13.4. Recent Developments
       11.14. Earth's Own Food Company
           11.14.1. Company Overview
           11.14.2. Financials
           11.14.3. Products
           11.14.4. Recent Developments
       11.15. Lightlife Foods
           11.15.1. Company Overview
           11.15.2. Financials
           11.15.3. Products
           11.15.4. Recent Developments
       11.16. REFILE-Cargill.
           11.16.1. Company Overview
           11.16.2. Financials
           11.16.3. Products
           11.16.4. Recent Developments
       11.17. Taifun-Tofu GmbH
           11.17.1. Company Overview
           11.17.2. Financials
           11.17.3. Products
           11.17.4. Recent Developments
       11.18. Atlantic Natural Foods
           11.18.1. Company Overview
           11.18.2. Financials
           11.18.3. Products
           11.18.4. Recent Developments
       11.19. JUST Inc
           11.19.1. Company Overview
           11.19.2. Financials
           11.19.3. Products
           11.19.4. Recent Developments
       11.20. Nutrisoy Pty
           11.20.1. Company Overview
           11.20.2. Financials
           11.20.3. Products
           11.20.4. Recent Developments
 
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
 
 LIST OF TABLES
 

  •  Market Snapshot
  •  Drivers : Impact Analysis
  •  Restraints : Impact Analysis
  •  List of Raw Material
  •  List of Raw Material Manufactures
  •  List of Potential Buyers
  •  COVID-19 Impact Analysis by Production, Import, Export and Demand
  •  Pre V/S Post COVID-19
  •  Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  •  COVID-19: Micro and Macro Factor Analysis
  •  Analysis by Product Type (USD MN)
  •  Dairy Alternatives Market by Geography (USD MN)
  •  Meat Substitute Market by Geography (USD MN)
  •  Analysis Market by Source (USD MN)
  •  Soy Protein Market by Geography (USD MN)
  •  Almond Protein Market by Geography (USD MN)
  •  Wheat Protein Market by Geography (USD MN)
  •  Pea Protein Market by Geography (USD MN)
  •  Rice Protein Market by Geography (USD MN)
  •  Analysis by Distribution Channel (USD MN)
  •  Business to Business Market by Geography (USD MN)
  •  Business to Customers Market by Geography (USD MN)
  •  Global Plant Based Food Market by Geography (USD MN)
  •  North America Market Analysis (USD MN)
  •  United State Market Analysis (USD MN)
  •  Canada Market Analysis (USD MN)
  •  Mexico Market Analysis (USD MN)
  •  Europe Market Analysis (USD MN)
  •  Europe Market Estimate by Country (USD MN)
  •  United Kingdom Market Analysis (USD MN)
  •  France Market Analysis (USD MN)
  •  Germany Market Analysis (USD MN)
  •  Italy Market Analysis (USD MN)
  •  Russia Market Analysis (USD MN)
  •  Spain Market Analysis (USD MN)
  •  Rest of Europe Market Analysis (USD MN)
  •  Asia Pacific Market Analysis (USD MN)
  •  China Market Analysis (USD MN)
  •  Japan Market Analysis (USD MN)
  •  India Market Analysis (USD MN)
  •  South Korea Market Analysis (USD MN)
  •  Australia Market Analysis (USD MN)
  •  Rest of Asia Pacific Market Analysis (USD MN)
  •  Latin America Market Analysis (USD MN)
  •  Brazil Market Analysis (USD MN)
  •  Argentina Market Analysis (USD MN)
  •  Peru Market Analysis (USD MN)
  •  Chile Market Analysis (USD MN)
  •  Rest of Latin America Market Analysis (USD MN)
  •  Middle East & Africa Market Analysis (USD MN)
  •  Saudi Arabia Market Analysis (USD MN)
  •  UAE Market Analysis (USD MN)
  •  Israel Market Analysis (USD MN)
  •  South Africa Market Analysis (USD MN)
  •  Rest of Middle East and Africa Market Analysis (USD MN)
  •  Partnership/Collaboration/Agreement
  •  Mergers And Acquisiton
 
 LIST OF FIGURES
 
  •  Research Scope of Plant Based Food Report
  •  Market Research Process
  •  Market Research Methodology
  •  Global Plant Based Food Market Size, by Region (USD MN)
  •  Porters Five Forces Analysis
  •  Market Attractiveness Analysis by Product Type
  •  Market Attractiveness Analysis by Source
  •  Market Attractiveness Analysis by Distribution Channel
  •  Market Attractiveness Analysis by Region
  •  Value Chain Analysis
  •  Global Market Analysis by Product Type (USD MN)
  •  Dairy Alternatives Market by Geography (USD MN)
  •  Meat Substitute Market by Geography (USD MN)
  •  Global Market Analysis by Source (USD MN)
  •  Soy Protein Market by Geography (USD MN)
  •  Almond Protein Market by Geography (USD MN)
  •  Wheat Protein Market by Geography (USD MN)
  •  Pea Protein Market by Geography (USD MN)
  •  Rice Protein Market by Geography (USD MN)
  •  Global Market Analysis by Distribution Channel (USD MN)
  •  Business to Business Market by Geography (USD MN)
  •  Business to Customers Market by Geography (USD MN)
  •  Global Market by Revenue
  •  North America Market by Revenue
  •  Europe Market by Revenue
  •  Asia Pacific Market by Revenue
  •  Latin America Market by Revenue
  •  Middle East & Africa Market by Revenue
  •  Recent Development in Industry
  •  Company Market Share Analysis, 2020
 
 * Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

Objectives of Study

  • Define and measure the global market
  • Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
  • Analyze and identify major market trends along with the factors driving or inhibiting the market growth
  • Study the company profiles of the major market players with their market share
  • Analyze competitive developments

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