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Global Plant-Based Food 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.

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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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Frozen Foods Market (2020 to 2026)— Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

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New Report Explored Global Plant Based Milk Market Demand Would Increase Rapidly by 2026 | COVID19 Impact Analysis | Key Players: Archer Daniels Midland, Nestle, WhiteWave Foods, Hain Celestial Group, Daiya Foods, etc. | InForGrowth

Plant Based Milk Market Research Report provides analysis of main manufactures and geographic regions. Plant Based Milk Market report includes definitions, classifications, applications, and industry chain structure, development trends, competitive landscape analysis, and key regions distributors analysis. The report also provides supply and demand Figures, revenue, revenue and shares.

Plant Based Milk Market report is to recognize, explain and forecast the global market based on various aspects such as explanation, application, organization size, distribution mode, and region. The Market report purposefully analyses every sub-segment regarding the individual growth trends, contribution to the total market, and the upcoming forecasts.

Report Coverage:

  • Plant Based Milk Market report provides a comprehensive analysis of the market with the help of up-to-date market opportunities, overview, outlook, challenges, trends, market dynamics, size and growth, competitive analysis, major competitor’s analysis.
  • Report recognizes the key drivers of growth and challenges of the key industry players. Also, evaluates the future impact of the propellants and limits on the market.
  • Uncovers potential demands in the Plant Based Milk
  • The market report provides in-depth analysis for changing competitive dynamics
  • Provides information on the historical and current market size and the future potential of the market.

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In the Plant Based Milk Market research report, the following points market opportunities, market risk, and market overview are enclosed along with an in-depth study of each point. Production of the Plant Based Milk is analyzed with respect to various regions, types, and applications. The sales, revenue, and price analysis by types and applications of market key players are also covered.

Plant Based Milk Market Segment considering Production, Revenue (Value), Price Trend by Legumes, Cereals, Nuts, Seeds, Other

Market Segment by Consumption Growth Rate and Market Share by Application: Supermarkets and Hypermarkets, Specialist Retailers, Online Retailers, Other

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Along with Plant Based Milk Market research analysis, buyer also gets valuable information about global Production and its market share, Revenue, Price and Gross Margin, Supply, Consumption, Export, Import volume and values for following Regions:

  • North America
  • Europe
  • China
  • Japan
  • Middle East & Africa
  • India
  • South America
  • Others

Plant Based Milk Market Covers following Major Key Players: Archer Daniels Midland, Nestle, WhiteWave Foods, Hain Celestial Group, Daiya Foods,

Industrial Analysis of Plant Based Milk Market:

Plant

Plant Based Milk Market highlights the following key factors:

  • A complete background analysis of the industry, which includes an assessment of the parental market.
  • Emerging trends by segments and regional markets.
  • Significant changes in market dynamics & market overview.
  • Plant Based Milk Market breakdown up to the second or third level.
  • Market shares and approaches of key players in the market.
  • Current and predictable size of the market from the perspective of both value and volume.
  • Reporting and estimation of recent industry developments.
  • References to companies for establishment their position in the Plant Based Milk

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Market Reports News

Global Plant Based Milk Market (Soy Milk, Almond Milk and Rice Milk) : Insights, Trends and Forecast (2020-2024)

The Global Plant Based Milk Market is expected to reach US$21.52 billion in 2024, growing at a CAGR of 10.18%, for the duration spanning 2020-2024. The factors such as, expansion of the beverage industry, growing obese populace, increasing diabetic population, rapid urbanization and increasing disposable income are expected to drive the market. However, the growth of the market would be challenged by concerns regarding beverage additives and lack of awareness among people about plant based beverages. A few notable trends include, increasing e-commerce retail sales, increasing rate of youth population and growing demand for Ready-to-Drink (RTD) tea and coffee.

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The plant based milk market is highly concentrated with soy and almond milk. Both the plant based milk are preferably used by a lot of customers, who face problems regarding lactose intolerance. In addition, almond milk and soy milk exhibit amazing health benefits, which is why they are becoming popular among people, particular fitness enthusiast. The increasing popularity and admiration are raising the market demand for plant based milk on a global scale.

The fastest growing regional market is Asia Pacific, due to the increased production as well as consumption of milk alternatives. China, being the largest sub regional market in Asia Pacific, accounted for the increased consumption of a wide variants of plant based milk. Availability of a range of flavors is also helping Asia Pacific market to increase its market volume at significant rates over the years. Further, North America has also accounted for a considerable share in the global plant based milk market, owing to the increased prevalence of lactose intolerance and vegan population.

Scope of the report:

The report provides a comprehensive analysis of the global plant based milk market.

The major regional markets (Asia Pacific, North America and Europe), further segmented into China, the U.S., and Canada have also been analyzed.

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

The competitive landscape of the market, along with the company profiles of leading players (the Coca-Cola Company, PepsiCo. Keurig Dr. Pepper, Hain Celestial, SunOpta and Blue Diamond) are also presented in detail.

Key Target Audience:

Plant based Milk Manufacturers

Raw Material Suppliers

End Users (Food & Beverage industry, Catering industry, Direct Users, etc.)

Industrial Consultants

Investment Banks

Government Bodies & Regulating Authorities

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Table of Contents

1. Overview

1.1 Introduction

1.2 Common Types of Plant-Based Milk

1.3 Nutritional Comparison of Plant-Based Milk with Dairy Milk

1.4 Physiochemical Properties of Plant-Based Milk

1.5 Processing of Plant-Based Milk

2. Global Market Analysis

2.1 Global Plant-Based Milk Market by Value

2.2 Global Plant-Based Milk Market Forecast by Value

2.3 Global Plant-Based Milk Market by Product Type

2.3.1 Global Soy Milk Market by Value

2.3.2 Global Soy Milk Market Forecast by Value

2.3.3 Global Almond Milk Market by Value

2.3.4 Global Almond Milk Market Forecast by Value

2.3.5 Global Rice Milk Market by Value

2.3.6 Global Rice Milk Market Forecast by Value

2.4 Global Plant-Based Milk Market Value by Region

2.5 Global Plant-Based Milk Market by Volume

2.6 Global Plant-Based Milk Market Forecast by Volume

2.7 Global Plant-Based Milk Market Volume by Region

3. Regional Market Analysis

3.1 Asia Pacific

3.1.1 Asia-Pacific Plant-Based Milk Market by Value

3.1.2 Asia-Pacific Plant-Based Milk Market Forecast by Value

3.1.3 Asia-Pacific Plant-Based Milk Market Value by Regions

3.1.4 China Plant-Based Milk Market Forecast by Value

3.1.5 Asia-Pacific Plant-Based Milk Market by Volume

3.1.6 Asia-Pacific Plant-Based Milk Market Forecast by Volume

3.1.7 Asia-Pacific Plant-Based Milk Market Volume by Regions

3.1.8 China Plant-Based Milk Market Forecast by Volume

3.2 North America

3.2.1 North America Plant-Based Milk Market by Value

3.2.2 North America Plant-Based Milk Market Forecast by Value

3.2.3 North America Plant-Based Milk Market Value by Region

3.2.4 The U.S. Plant-Based Milk Market by Value

3.2.5 The U.S. Plant-Based Milk Market Forecast by Value

3.2.6 The U.S. Plant-Based Milk Market Value by Product Type

3.2.7 The U.S. Almond Milk Market by Value

3.2.8 The U.S. Almond Milk Market Forecast by Value

3.2.9 The U.S. Soy Milk Market by Value

3.2.10 The U.S. Soy Milk Market Forecast by Value

3.2.11 Canada Plant-Based Milk Market by Value

3.2.12 Canada Plant-Based Milk Market Forecast by Value

3.2.13 North America Plant-Based Milk Market by Volume

3.2.14 North America Plant-Based Milk Market Forecast by Volume

3.2.15 North America Plant-Based Milk Market Volume by Region

3.2.16 The U.S. Plant-Based Milk Market Forecast by Volume

3.3 Europe

3.3.1 Europe Plant-Based Milk Market by Value

3.3.2 Europe Plant-Based Milk Market Forecast by Value

3.3.3 Europe Plant-Based Milk Market by Volume

3.3.4 Europe Plant-Based Milk Market Forecast by Volume

3.4 ROW

3.4.1 ROW Plant-Based Milk Market by Value

3.4.2 ROW Plant-Based Milk Market Forecast by Value

3.4.3 ROW Plant-Based Milk Market by Volume

3.4.4 ROW Plant-Based Milk Market Forecast by Volume

4. Market Dynamics

4.1 Growth Drivers

4.1.1 Expansion of Beverage Industry

4.1.2 Growing Obese Populace

4.1.3 Increasing Diabetic Population

4.1.4 Rapid Urbanization

4.1.5 Increasing Disposable Income

4.1.6 Availability of Wide Range of Variants and Flavors

4.2 Key Trends and Developments

4.2.1 Increasing E-Commerce Retail Sales

4.2.2 Increasing Rate of youth population

4.2.3 Growing Demand for RTD (Ready to Drink) Tea and Coffee

4.2.4 Consumers are shifting towards Low Calorie Drinks

4.2.5 Increasing Product Innovations

4.3 Challenges

4.3.1 Concerns Regarding Beverage Additives

4.3.2 Lack of Awareness among People about Plant-Based Beverages

5. Competitive Landscape

5.1 Global Market

5.1.1 Key Players – Revenue Comparison

5.1.2 Key Players – Market Capitalization Comparison

6. Company Profiles

6.1 PepsiCo

6.1.1 Business Overview

6.1.2 Financial Overview

6.1.3 Business Strategies

6.2 The Coca-Cola Company

6.2.1 Business Overview

6.2.2 Financial Overview

6.2.3 Business Strategies

6.3 Keurig Dr. Pepper

6.3.1 Business Overview

6.3.2 Financial Overview

6.3.3 Business Strategies

6.4 Hain Celestial Group

6.4.1 Business Overview

6.4.2 Financial Overview

6.4.3 Business Strategies

6.5 SunOpta

6.5.1 Business Overview

6.5.2 Financial Overview

6.5.3 Business Strategies

6.6 Blue Diamond Growers

6.6.1 Business Overview

6.6.2 Financial Overview

6.6.3 Business Strategies

 

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