Categories: Press Release

Plant-Based Diet Market Size Worth $94.2 Billion in 2023 with the Highest Contribution in Asia-Pacific – GlobalData Plc

The global plant-based diet market size was valued at $94.2 billion in 2023, according to a new report by GlobalData Plc. Companies operating in the market are focusing on product innovations revolving around improving the food and beverages’ texture, taste, aroma, and functional benefits to cater the dynamic consumers’ demands who are looking for novel products in the market.

Plant-Based Diet market outlook report with detailed product type segment analysis is available with GlobalData Now! Read our free sample!

Plant-based Diet Market FAQs

  • What will be the global plant-based diet market size in 2023?

The global plant-based diet market size is estimated to be valued at $94.2 billion in 2023.

  • What is the plant-based diet market growth rate?

The global plant-based diet market is expected to grow at a CAGR of 7.2% during the forecast period (2023-2027).

  • What are the key plant-based diet market drivers?

Increasing health consciousness, environmental concerns, rising intolerance towards animal cruelty, and rise in investment and product innovation is anticipated to drive the plant-based diet market.

  • What are the key plant-based diet market segments?

Plant-Based Diet Product Type Segments: Meat Substitutes, Dairy Alternatives, and Nuts & Seeds Snacks

Plant-Based Diet Source Type Segments: Grain-Based, Soy-Based, Nuts & Seeds-Based, Vegetable-Based and Single Cell-Based

Plant-Based Diet Distribution Type Segments: Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, and eRetailers

  • Which are the leading plant-based diet companies globally?

The leading plant-based diet companies are Hebei Yangyuan Zhihui Beverage Co.; Blue Diamond Growers; Danone Group; Three Squirrels Co Ltd; Coconut Palm Group Co. Ltd.; PepsiCo, Inc.; The Kraft Heinz Company; Dairy Farmers Of America, Inc.; Valsoia S.p.A.; and Nestle.

For more queries on the plant-based diet market, download a free sample report

Plant-based Diet Market Dynamics

Post the COVID-19 pandemic, consumers are exhibiting increasing concerns regarding their personal health and are looking for ways to cut down their consumption of anismal-derived food and beverages. The increasing awareness regarding the animal welfare coupled with adverse impact of livestock farming on the environment are motivating the consumers to replace their meat and dairy products with plant-based food and beverages.

Furthermore, the introduction of emerging technologies, including 3D printing and nanotechnology is enabling the food and beverages manufacturers to develop innovative products by tailoring the plant-based products with specific flavors, shape, and functional benefits to suit the targeted consumers.

Learn about the plant-based diet market dynamics by viewing report sample right here!

Plant-Based Diet Market Report Highlights

  • The plant-based diet market is projected to witness a CAGR of 7.2% from 2023 to 2027. Rising health-consciousness, growing awareness regarding animal cruelty, and sustainability are some of the key factors driving the market.
  • The dairy alternatives segment accounts for a significant share in 2023 owing to increasing cases of lactose intolerance, cardiovascular disorders, and increasing concerns regarding animal welfare are the major factors favoring to the segment growth.
  • Asia Pacific is expected to be the dominant market over the forecast period owing to the presence of a large base of vegetarian population in the region exhibiting increasing health-consciousness is driving the regional market.
  • The leading plant-based diet companies are Hebei Yangyuan Zhihui Beverage Co., Blue Diamond Growers, Danone Group, Beyond Meat, Three Squirrels, Coconut Palm Group, PepsiCo, Dairy Farmers of America, Valsoia, and Nestle.

Unlock additional market dynamics impacting the plant-based diet market growth by requesting a sample PDF

Plant-based Diet Market Scope

GlobalData Plc has segmented the plant-based diet market report by device type and region:

Global Plant-Based Diet Product Type Outlook (Revenue, $ Million, 2017-2027)

  • Meat Substitutes
  • Dairy Alternatives
  • Nuts & Seeds Snacks

Global Plant-Based Diet Source Type Outlook (Revenue, $ Million, 2017-2027)

  • Soy-Based
  • Grain-Based
  • Nuts & Seeds-Based
  • Vegetable-Based
  • Single Cell-Based

Global Plant-Based Diet Distribution Type Outlook (Revenue, $ Million, 2017-2027)

  • Hypermarkets & Supermarkets
  • Convenience Stores
  • Food & Drinks Specialists
  • eRetailers
  • Department Stores

Global Plant-Based Diet Regional Outlook (Revenue, $ Million, 2019-2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Australia
    • Thailand
    • Vietnam
    • Rest of Asia Pacific
  • South & Central America
    • Brazil
    • Mexico
    • Colombia
    • Chile
    • Argentina
    • Rest of South & Central America
  • Middle East & Africa
    • South Africa
    • Israel
    • UAE
    • Iran
    • Saudi Arabia
    • Rest of Middle East & Africa

To know more segment-wise and regional opportunities, download a free sample report

Related Reports:

About us

GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData’s mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.

Tags: , , , ,

See Campaign: https://www.globaldata.com/store/report/plant-based-diet-market-analysis/

Contact Information:

GlobalData Mark Jephcott Head of PR EMEA mark.jephcott@globaldata.com cc: pr@globaldata.com +44 (0)207 936 6400

Tags:
Reportedtimes, iCN Internal Distribution, Extended Distribution, Research Newswire, English