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Global Plant Based Food and Beverage Market Size, Analysis: By Type: Plant Based Dairy, Meat Substitutes, Plant Based Nutrition/Snack Bars, Plant Based Bakery Products, Plant Based Beverages, Others; By Source: Soy, Coconut, Wheat, Almond, Others; By Category; By Distribution Channel; Regional Analysis; Competitive Landscape; 2024-2032
Global Plant Based Food and Beverage Market Outlook
The global plant based food and beverage market size reached approximately USD 23.96 billion in 2023. The market is further projected to grow at a CAGR of 9.4% between 2024 and 2032, reaching a value of USD 54.23 billion by 2032.
Key Trends in the Market
Plant based food and beverages refer to products derived from plants including soy, coconut, wheat, almond, vegetables, nuts, legumes, seeds, and fruits, among others. Due to their environmentally sustainable nature, these products are gaining popularity in various regions across the globe.
- The increasing adoption of vegan diets due to rising health concerns and increasing incidences of allergies is supporting the plant based food and beverage market growth. The exclusion of animal-based products from diets decreases the consumption of trans and saturated fats, reducing the risk of hypertension, heart diseases, diabetes, and obesity, among others.
- The rising availability of plant based food and beverages across different distribution channels including supermarkets and hypermarkets, convenience stores, and online, among others in multiple flavours is providing lucrative growth opportunities to the market.
- The growing prevalence of lactose intolerance is bolstering the consumption of plant based beverages in various countries across the globe. The deficiency of enzyme lactase results in the development of this disorder.
Global Plant Based Food and Beverage Market Segmentation
On the basis of type, the market is divided into plant based dairy, meat substitutes, plant based nutrition/ snack bar, plant based bakery products, and plant based beverages, among others. Based on source, the market is classified into soy, coconut, wheat, and almond, among others.
On the basis of category, the market is bifurcated into organic and conventional. Based on distribution channel, the market is categorised into supermarkets and hypermarkets, convenience stores, and online, among others. On the basis of region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global plant based food and beverage market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Nestle S.A.
- Conagra Brands, Inc.
- Campbell Soup Company
- Danone S.A.
- Beyond Meat Inc.
- Hain Celestial Group Inc.
- Noumi Ltd.
- Blue Diamond Growers
- Tofutti Brands, Inc.
- Eden Foods, Inc.
- Others
Market Share by Category
As per the plant based food and beverage market analysis, organic plant based food and beverages are expected to witness significant growth in the coming years. The increasing availability of organic products across different distribution channels and growing awareness about the various negative health effects associated with the consumption of food products produced using pesticides is boosting the segment expansion. The increase in environmental concerns is further supporting the production of organic produce.
Market Share by Region
The Asia Pacific is anticipated to account for a significant plant based food and beverage market share over the forecast period. This growth can be attributed to the presence of deep-rooted vegetarianism in various Asian cultures and increasing awareness about the various advantages associated with the consumption of bland based products. The growing prevalence of lactose intolerance in the Asian population is propelling the requirement for plant based beverages in the region. The increasing celebrity influence and rising concerns about animal welfare are further boosting the plant based food and beverage market demand.
Competitive Landscape
Nestle S.A. is one of the leading food and beverage processing companies that was founded in 1866 and is headquartered in Vaud, Switzerland. The company’s product portfolio includes baby food, pet food, plant based food and beverages, and breakfast cereal, among others.
Conagra Brands, Inc., headquartered in Illinois, United States, is a food processing company that manufactures and sells products in food service establishments, supermarkets, and restaurants, among others under various brand names.
Campbell Soup Company is involved with the manufacture of canned soup and plant based food and beverages, among other products. The company was founded in 1869 and is headquartered in New Jersey, United States.
Other plant based food and beverage market key players include Danone S.A., Beyond Meat Inc., Hain Celestial Group Inc., Noumi Ltd., Blue Diamond Growers, Tofutti Brands, Inc., and Eden Foods, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Source |
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| Breakup by Category |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Plant Based Food and Beverage Market Analysis
8.1 Key Industry Highlights
8.2 Global Plant Based Food and Beverage Historical Market (2018-2023)
8.3 Global Plant Based Food and Beverage Market Forecast (2024-2032)
8.4 Global Plant Based Food and Beverage Market by Type
8.4.1 Plant Based Dairy
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Meat Substitutes
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Plant Based Nutrition/Snack Bars
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Plant Based Bakery Products
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Plant Based Beverages
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Plant Based Food and Beverage Market by Source
8.5.1 Soy
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Coconut
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Wheat
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Almond
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Plant Based Food and Beverage Market by Category
8.6.1 Organic
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Conventional
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Plant Based Food and Beverage Market by Distribution Channel
8.7.1 Supermarkets and Hypermarkets
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Convenience Stores
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Online
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Others
8.8 Global Plant Based Food and Beverage Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Plant Based Food and Beverage Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Plant Based Food and Beverage Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Plant Based Food and Beverage Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Plant Based Food and Beverage Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Plant Based Food and Beverage Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Nestle S.A.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Conagra Brands, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Campbell Soup Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Danone S.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Beyond Meat Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Hain Celestial Group Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Noumi Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Blue Diamond Growers
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Tofutti Brands, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Eden Foods, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Plant Based Food and Beverage Market: Key Industry Highlights, 2018 and 2032
2. Global Plant Based Food and Beverage Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Plant Based Food and Beverage Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Plant Based Food and Beverage Historical Market: Breakup by Source (USD Billion), 2018-2023
5. Global Plant Based Food and Beverage Market Forecast: Breakup by Source (USD Billion), 2024-2032
6. Global Plant Based Food and Beverage Historical Market: Breakup by Category (USD Billion), 2018-2023
7. Global Plant Based Food and Beverage Market Forecast: Breakup by Category (USD Billion), 2024-2032
8. Global Plant Based Food and Beverage Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
9. Global Plant Based Food and Beverage Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
10. Global Plant Based Food and Beverage Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Plant Based Food and Beverage Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Plant Based Food and Beverage Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Plant Based Food and Beverage Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Plant Based Food and Beverage Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 23.96 billion in 2023.
The market is projected to grow at a CAGR of 9.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 54.23 billion by 2032.
The major market drivers include increasing consumption of plant based beverages due to growing prevalence of lactose intolerance and rising concerns about animal welfare.
The key trends fuelling the growth of the market include increasing adoption of vegan diets and rising availability of plant based food and beverages across different distribution channels including supermarkets and hypermarkets, convenience stores, and online, among others in multiple flavours.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The distribution channels include supermarkets and hypermarkets, convenience stores, and online, among others.
The key players in the market are Nestle S.A., Conagra Brands, Inc., Campbell Soup Company, Danone S.A., Beyond Meat Inc., Hain Celestial Group Inc., Noumi Ltd., Blue Diamond Growers, Tofutti Brands, Inc., and Eden Foods, Inc., among others.
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