Plant based Diet Market By Product Type (Plant based Dairy Products, Plant based Meat Products, Others), By Source (Legumes, Seeds and Nuts, Whole Grains, Fruits and Vegetables), By Distribution Channel (Supermarkets/hypermarkets, Convenience Stores, Spec

Plant based Diet Market By Product Type (Plant based Dairy Products, Plant based Meat Products, Others), By Source (Legumes, Seeds and Nuts, Whole Grains, Fruits and Vegetables), By Distribution Channel (Supermarkets/hypermarkets, Convenience Stores, Specialty Stores, Online Sales Channel): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global plant based diet market was valued at $44.9 billion in 2022, and is projected to reach $227.2 billion by 2032, growing at a CAGR of 17.7% from 2023 to 2032.

Meat, poultry, seafood, eggs, and dairy products are completely excluded from a rigorous plant-based diet. Some people include moderate amounts of animal products as part of a more flexible approach. Food that are whole and have undergone minimum processing are preferable. This refers to preference toward whole grains over refined grains, fresh produce over canned or processed produce, and whole nuts and seeds over oils or butter.

The plant based diet market is segmented on the basis of product type, source, distribution channel, and region. On the basis of product type, the market is divided into plant based dairy products, plant based meat products, and others. Further, plant based dairy products are segmented into plant based yogurt, plant based milk, and plant based frozen desserts. On the basis of source, the market is categorized into legumes, seeds and nuts, whole grains, and fruits and vegetables. On the basis of distribution channel, it is classified into supermarkets/hypermarkets, convenience stores, specialty stores, and online sales channel. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The COVID-19 pandemic had a mixed impact on the plant based diet market. The foodservice industry, which includes plant-based options, has been heavily impacted by restaurant closures and limits on dining. The drop in restaurant traffic had an impact on several plant-based food enterprises whose revenues were mostly through foodservice channels. On the other hand, there has been a rise in online takeout and delivery orders, which has given plant-based food suppliers more chances to connect with customers. On the other hand, cooking at home and recipe study increased as a result of more individuals choosing to stay indoors during lockdowns and quarantines. People now have the chance to test new plant-based recipes and ingredients, which will increase the consumption of plant-based food.

The future of the plant-based diet is being heavily determined by the preferences of younger generations like millennials and Generation Z. These groups of people prioritize ethical, environmental, and health concerns when making food decisions. The demand for plant-based solutions is projected to increase further when these generations take over as the primary consumer group. Governments all over the world are putting policies in place to encourage the adoption of plant-based diets and acknowledge their advantages. This includes public awareness efforts, nutritional recommendations, and laws that encourage the use of plant-based meals instead of meat. Such governmental backing has a big impact on consumer behavior and promotes the expansion of the market for plant-based diets.

There is no longer a geographic or cultural barrier to eating a plant-based diet. Vegetarian cuisines are increasingly being accepted and incorporated into various culinary traditions. The proliferation of plant-based diets across the globe will be aided by this cultural acceptability and integration. The development and investment in the plant-based food industry are being fueled by collaboration between food companies, startups, and well-established brands. Major firms in the food business are spending money on research, product development, and marketing in order to fulfill the rising demand as they realize the promise of plant-based diets.

The variety of plant-based food products is greatly increased, and innovative replacements for conventional animal-based ingredients are developed. This covers vegan meat, vegan dairy, vegan fish, vegan eggs, and other vegan items derived from animals. The appeal and variety of plant-based products is increased by businesses experimenting with new ingredients, flavors, and textures. Due to its perceived health benefits, people who are concerned about their weight are gravitating toward plant-based diets. There is a chance to create plant-based food products that address particular dietary requirements, such as gluten-free, low-sodium, low-sugar, or high-protein alternatives. Furthermore, supplying plant-based products with vital vitamins and nutrients draws in customers who are concerned about their health.

Many people are switching to flexitarian diets, in which they eat mostly plant-based food but occasionally consume products made from animal sources. There is a chance of developing products that are expressly aimed at this market, offering practical and enticing choices for people wishing to cut back on their meat intake without making the whole move to a vegetarian or vegan lifestyle. Significant prospects for plant-based solutions exist in the restaurant, café, and fast-food chains sectors of the foodservice industry. Plant-based food are made more accessible to a larger customer base by working with foodservice businesses to generate new plant-based menu items or by partnering with them on product development.

The major players operating in the global plant based diet market are Atlantic Natural Food LLC, Beyond Meat, Inc., Califia Farms, LLC, Conagra Brands, Inc, Danone S.A., Royal DSM N.V., Glanbia PLC, Harmless Harvest, Impossible Food Inc., Lightlife Food Inc (Maple Leaf Food Inc.), Nestle S.A., Noumi Ltd., SunOpta Inc., The Hain Celestial Group, Inc., and Tyson Food Inc.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the plant based diet market analysis from 2022 to 2032 to identify the prevailing plant based diet market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the plant based diet market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global plant based diet market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Product Type

Plant based Dairy Products
Sub-type
Plant based Yogurt
Plant based Milk
Plant based Frozen Desserts
Plant based Meat Products
Others

By Source

Seeds and Nuts
Whole Grains
Fruits and Vegetables
Legumes

By Distribution Channel

Supermarkets/hypermarkets
Convenience Stores
Specialty Stores
Online Sales Channel

By Region

North America
U.S.
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Russia
Netherlands
Poland
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Indonesia
Thailand
Malaysia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
South Africa
Saudi Arabia
United Arab Emirates
Rest of LAMEA
Key Market Players
Above Food Inc.
Beyond Meat, Inc.
Conagra Brands, Inc.
DANONE S.A.
DSM-Firmenich AG
Glanbia PLC
Maple Leaf Foods Inc.
Nestle S.A.
The Hain Celestial Group, Inc.
Tyson Foods, Inc.

Please Note: It will take 7-10 business days to complete the report upon order confirmation.