Global Plant-based Food Market is Estimated to Reach Worth of US$ 10.9 Bn by 2022, Accelerating with a CAGR of 12.2% to Reach Revenue of US$ 34.5 Bn by year 2032-end | Future Market Insights, Inc.
NEWARK, Del., Nov. 9, 2022 /PRNewswire/ -- According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of Plant Based food are estimated to reach a value of USD 34.5 Bn by 2032, surging at 12.2% CAGR through the decade.
The North America plant-based food market is expected to register 12.5% CAGR between 2022 and 2032. The demand for plant-based food is expected to grow at 11.6% CAGR between 2022 and 2032 in Europe
NEWARK, Del., Nov. 9, 2022 /PRNewswire/ -- According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of Plant Based food are estimated to reach a value of USD 34.5 Bn by 2032, surging at 12.2% CAGR through the decade.
Plant-based food firms are projected to experience development prospects over the years, despite supply chain interruptions, panic purchasing, and storage. The vegan ingredients industry has experienced an upsurge in innovation in recent years. The development of innovative products, such as plant-based milk, eggs, and meat, is a growth-promoting factor. These products are abundant in essential nutrients and taste almost identical to those made from animals.
Multiple other reasons, such as extensive promotional events by athletes and celebrities to promote the consumption of plant-based food products so as to maintain a healthy lifestyle, and the easy availability of these items due to increasing number of online sales channels, are expected to further fuel the market.
Download Sample Copy @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14823
During the pandemic's early stages, consumers decreased their time in stores and supermarkets, by stocking up on food and packaged products high in nutritional content as a precautionary measure, which had additionally increased demand for plant-based food in the market.
Key Takeaways from Market Study
- North America is expected to have 38% plant based food market share.
- US holds 65 % plant based food market share in North American Market.
- Europe is expected to have 31 % plant based food market share.
- Germany holds 22 % plant based food market share in European Market.
- Asia is expected to have 20 % plant based food market share.
- China holds 32 % plant based food market share in Asian Market.
- Market players are experimenting with new ways on increasing production capacity and also doing research and innovation to create products.
" The growing focus on the consumption of plant based foods in developed regions such as Europe and North America is likely to open lucrative opportunity for market players in the long run", –says a lead analyst at Future Market Insights.
Competitive Landscape
Plant-based food manufacturers have received funding from venture capital firms and significant established meat substitute supply companies in recent years. Plant-based food manufacturing enterprises have seen a significant increase in investment in recent years, as numerous start-ups have begun selling plant-based food and experimenting with various vegan items.
Some of the leading companies offering plant-based food are Amy's Kitchen, Danone S.A., Atlantic Natural Foods LLC, Beyond Meat Inc., Garden Protein International Inc, Impossible Foods Inc, Lightlife Foods Inc (Maple Leaf Foods Inc.), Nestle S.A., Tyson Foods Inc, Vbite Food Ltd among others.
Ask Our Analyst More about Report @ https://www.futuremarketinsights.com/ask-question/rep-gb-14823
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the plant-based food presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
Plant-based Food Market By Category
By Type, Plant-based Food Market is Segmented as:
- Dairy Substitute
- Meat Substitute
- Egg Substitute
- Seafood Substitute
- Others
By Source, Plant-based Food Market is Segmented as:
- Soybean
- Nuts
- Wheat
- Pea
- Others
By Sales Channel, Plant-based Food Market is Segmented as:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
Browse Full Report@ https://www.futuremarketinsights.com/reports/plant-based-food-market
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Request a Complete TOC@ https://www.futuremarketinsights.com/toc/rep-gb-14823
Explore FMI's related ongoing Coverage on Food and Beverage Domain
Plant-based Pet Food Market Size: The global plant-based pet food market is set to expand its roots in the global market at a promising CAGR of 9.2%, while the market is anticipated to hold a revenue of USD 57.43 Billion in 2032.
Plant-Based Meatballs Market Share: Plant-Based Meatballs Market: Industry Analysis, Size, Share, Trends and Forecast to 2030.
Plant-based Nuggets Market Trends: Plant-based Nuggets Market: Industry Analysis, Size, Share, Trends and Forecast to 2030.
Plant-based Sausages Market Demand: The Global Plant-based Sausages Market is expected to reach a market valuation of USD 1,562.2 Mn by the year 2032, accelerating with a CAGR of 22% by 2022-2032.
Plant-based Tuna Market Growth: Plant-based Tuna Market: Industry Analysis, Size, Share, Trends and Forecast to 2030.
Plant-Based Shrimp Market Analysis: Plant-Based Shrimp Market Forecast, Trend Analysis & Opportunity Assessment 2021-2031.
Cassia Gum Market Overview: During the projected period, Cassia Gum market is expected to grow at a CAGR of 6.5%. The market value is projected to increase from US$ 15.7 Mn in 2022 to US$ 31.4 Mn by 2032.
Edible Nuts Market Sales: Edible Nuts Market: Global Sales Analysis and Opportunity 2031 | FMI
Aloe Vera Extracts Market Forecast: During the projected period, Aloe Vera Extracts market is expected to grow at a CAGR of 7.7 %. The market value is projected to increase from US$ 2,454.5 Mn in 2022 to US$5,153.71 Mn by 2032.
Animal Feed Additives Market Value: The animal feed additives market totaled US$ 16.36 Bn in 2021, as per a latest market survey by ESOMAR-certified consulting firm Future Market Insights (FMI).
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
View original content: