The report is titled as ‘Plant Based Food Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the plant based food market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The plant based food market is expected to grow at a significant rate in the near future.
In terms of value, the plant-based food market is expected to cross US$ 75 Bn by 2028, at a CAGR of 12.4% during the forecast period of 2020 to 2028.
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Plant Based Food Introduction
Plant-based foods are usually categorized into vegetables, fruits, seeds, nuts, legumes, and grains; and their obtained processed complements including breakfast cereals, fermented and cooked legumes and vegetables, breads, pasta, and fruit juices, purées, and jams; and further their resulting constituents such as oleaginous seed–derived herbs, sugars, oils, and some spices.
Plant-based foods may be consumed crude and raw, but majority of the time, they go through refinement and processing to make it more edible, secure, and more palatable, in particular grain-based foods.
Plant Based Food Market Dynamics
Plant-based foods are as delicious as regular foods or animal-based food. Plant-based foods are in trend owing to the rapid adoption of vegetarian or vegan diets by the population associated with the rising moral concerns of people in reference to animal butchery which is primarily estimated to offer a major thrust to the growth of the global plant-based food market in the forthcoming years.
By the same token, the increasing health consciousness among the population is also playing a positive role in the growth of the global plant based food market. Also, with the brisk elevation in the count of severe diseases such as obesity, diabetes, hypertension, acute cardiovascular diseases, people are getting more and more careful and specific about their regular diets, which is further accelerating the demand of plant based foods across the global markets. Owing to which, the global plant based foods market is projected to rise substantially over the forecast period.
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Plant Based Food Market Segmentation
The plant based food market is segmented on the basis of product type, source, distribution channel, and region.
By Product Type
- Dairy Alternatives
- Plant-Based Milk
- Ice Cream
- Creamer
- Yogurt
- Butter
- Cheese
- Others
- Meat Substitute
- Tofu
- TVP
- Tempeh
- Seitan
- Burger Patties
- Sausages
- Ground Meat
- Meatballs
- Nuggets
- Crumbles
- Others
- Plant-based Eggs/Egg Substitute
- Confectionery
- Others
By Source
- Soy Protein
- Almond Protein
- Wheat Protein
- Pea Protein
- Rice Protein
By Distribution Channel
- Business to Business
- Business to Customers
- Modern Groceries
- Convenience Store
- Specialty Store
- Online Retail
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Plant Based Food Market Key Players
The key participating players of the global plant based food market include Beyond Meat Inc., Impossible Foods Inc., Danone SA, Garden Protein International, Inc., Amy’s Kitchen Inc., Follow Your Heart, The Hain Celestial Group, Inc., Sahmyook Foods, Sanitarium Health and Wellbeing Company, Axiom Foods, Daiya Foods Inc., Earth’s Own Food Company Inc., Lightlife Foods, Inc., Marlow Foods Ltd., Taifun –Tofu GmbH, Atlantic Natural Foods LLC, BIte Food Ltd, and Nutrisoy Pty Ltd. among others
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