The global Plant-based Foods Market size is expected to reach USD 17.75 Billion in 2030 and register a revenue CAGR of 15.4% during the forecast period, according to a latest report by Reports and Data. Increasing consumer inclination towards vegan foods and rapid implementation of advanced technologies and rising innovation in new plant-based meat sources are key factors expected to drive market revenue growth during the forecast period. Rising focus of food manufacturers on offering a wide range of plant-based meat products is expected to drive the market between 2022 and 2030. This vegetarian meat is offered in wide varieties such as plant-based pork, plant-based egg, plant-based fish, and many more. Rapid integration of advanced technologies in plant meat products such as membrane filtration technologies to improve the quality of plant-based meat is increasing the demand for vegetarian meat products.
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Top Companies Operating in the Global Plant-based Foods Market Report:
Impossible Foods, Inc., Maple Leaf Foods, Inc., The Vegetarian Butcher, Gardein Protein International, Kellogg NA, Co. (MorningStar Farms), Quorn Foods, Amy’s Kitchen, Inc., Turtle Island Foods (Tofurky), ITC, Gold & Green Foods, Ltd. Oy, and Vbites Foods, Ltd.
Some Key Highlights in the Report
- The sausages segment is expected to register a steady revenue growth rate over the forecast period. Rising demand for plant-based sausages due to massive changes in diet and food consumption among consumers is expected to boost the revenue growth of the segment. Rising demand for vegan meats which taste like real meat is another factor that has led to an increase in demand for plant-based sausages.
- Beef segment is expected to register a steady revenue growth rate over the forecast period. Rising consumption of plant-based beef burgers and sausages among consumers is expected to drive growth of the segment. Increasing consumption of healthy and sustainable vegetarian foods is another factor in increasing demand for plant-based beef foods.
- The market in Europe is expected to expand at a steady CAGR over the forecast period. Rising number of plant-based meat manufacturers in countries in Europe is boosting revenue growth of the Plant-based Foods Market. Robust presence of hotels and retail stores is driving the Europe Plant-based Foods Market revenue growth.
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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.
This report analyzes the Plant-based Foods Market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Plant-based Foods Market is provided to gain a deeper understanding of its growth and progress.
The global Plant-based Foods Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Outlook (Revenue, USD Billion; 2019-2030)
- Nuggets, Tenders & Cutlets
- Burgers
- Sausages
- Patties
- Grounds
- Others
Source Outlook (Revenue, USD Billion; 2019-2030)
- Pea
- Wheat
- Soy
- Others
Storage Outlook (Revenue, USD Billion; 2019-2030)
- Frozen Plant-based Meat
- Refrigerated Plant-based Meat
- Shelf-stable Plant-based Meat
Type Outlook (Revenue, USD Billion; 2019-2030)
- Pork
- Chicken
- Beef
- Fish
- Others
End-use Outlook (Revenue, USD Billion; 2019-2030)
- Hotel/Restaurant/Cafe
- Retail
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