North America Plant-based Food & Beverage Market Forecast 2023-2032

KEY FINDINGS

The North America plant-based food & beverage market growth is anticipated to progress at a CAGR of 10.61% during the forecast period, 2023-2032. Food allergies due to animal-based product consumption are common among the American population. In addition, a large part of the population has food & beverage-related illnesses like lactose intolerance and celiac disease.

MARKET INSIGHTS

The United States and Canada are assessed for the North America plant-based food & beverage market growth evaluation. In Canada, the supply landscape for alternative protein has transitioned rapidly. Also, there has been a rising demand for plant-based meat & dairy alternatives due to the shifting consumer patterns toward veganism and vegetarianism. Whereas the younger generation is increasingly preferring nutritional, sustainable, and natural food products. Accordingly, most companies are manufacturing plant-based food products and incorporating them into food & health products. For instance, Maple Leaf Foods invested $310 million in its plant-based meat facility in April 2019 to increase production capacity.

Furthermore, the Canadian population is following a diet that either eliminates meat or limits its intake. This is set to raise the demand for plant-based meat and dairy products. For instance, edamame, quinoa, tempeh, and tofu have gained relevance in the shopping basket of consumers. Similarly, meatless poultry and burgers are the most popular plant-based meat alternatives, followed by meatless bacon, slices, deli, and hot dogs. Such factors propel the Canada plant-based food & beverage market demands.

COMPETITIVE INSIGHTS

Some of the eminent firms in the market are Beyond Meat Inc, Conagra Brands, Blue Diamond Growers, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments