The most recent updates to The Business Research Company’s global market reports now include the latest market sizing data for the year 2023, along with forecasts extended up to 2032.

As outlined in The Business Research Company’s Plant-Based Food Global Market Report 2023, the global plant-based food market is anticipated to experience significant growth within the forecast period.

Key insights from the plant-based food market forecast are as follows:

Market Size

The global plant-based food market size is predicted to expand from $44.56 billion in 2022 to $50.47 billion in 2023, reflecting a compound annual growth rate (CAGR) of 13.3%. This trajectory is projected to continue, with the global plant-based food market size poised to achieve $82.12 billion in 2027, growing at a CAGR of 12.9%.

Geographic Insights

In 2022, North America held the largest share of the plant-based food market, while Asia-Pacific emerged as the fastest-growing region.

Plant-Based Food Market Driver

The increasing preference for plant-based food products is expected to drive the growth of the plant-based food market. Plant-based food products are entirely composed of 100% plant ingredients, completely devoid of any animal products. These products include only vegetables, fruits, and grains and are preferred due to their health benefits, ethical considerations, and environmental concerns. The growing demand for plant-based food products is evidenced by statistics. In 2021, The Good Food Institute reported that the US retail market for plant-based foods grew from $6.9 billion in 2020 to $7.4 billion, a 7.2% increase. Furthermore, sales in 2021 grew by 6% compared to 2020. This shift in preference towards plant-based foods is a significant driver of the plant-based food market’s growth.

View More On The Plant Based Food Market Report 2023 –

https://www.thebusinessresearchcompany.*com/report/plant-based-food-global-market-report

Key Plant Based Food Market Segments

1) By Type: Diary Alternatives, Meat Alternatives, Egg Substitutes And Condiments, Other Types

2) By Source: Soy, Almond, Wheat, Pea, Rice, Other Sources

3) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Online Stores, Other Distribution Channels

Prominent Players in the Plant-Based Food Market

Noteworthy players in the plant-based food market include Amy’s Kitchen Inc, Atlantic Natural Foods LLC, Beyond Meat Inc, Danone SA, Garden Protein International Inc, Impossible Foods Inc, Lightlife Foods Inc, Nestlé S A, Tyson Foods Inc, Vbite Food Ltd, Plamil Foods Ltd, The Hain Celestial Group Inc, Sahmyook Foods, Sanitarium Health and Wellbeing Company, Axiom Foods Inc, Daiya Foods Inc, Earth’s Own Food Company Inc, Keystone Natural Holdings, General Mills Inc, and Premier Foods PLC.

Request A Sample Of The Global Plant Based Food Market Report 2023:

https://www.thebusinessresearchcompany.com/sample.aspx?id=9106&type=smp

Prominent Trend in the Plant-Based Food Market

Product innovation is a standout trend gaining traction in the plant-based food market. Leading companies in this sector are focused on developing innovative products such as clean-label products, vegan cheeses, egg substitutes, and others to solidify their market position. As an example, in July 2022, Century Pacific Food, Inc., a Philippines-based food and beverage company, introduced an innovative plant-based alternative called ‘unMEAT Fish-free Tuna’. This product, made entirely from plant-based ingredients, utilizes non-GMO components. It offers a low-fat composition with zero content of mercury and trans-fat. The product closely mimics the taste, texture, and appearance of tuna, while being completely fish-free.

The Plant Based Food Global Market Report 2023  provides comprehensive insights into the plant-based food market, encompassing size, trends, drivers, opportunities, strategies, and competitor analysis. Covered countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The major seven regions featured are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Plant Based Butter Global Market Report 2023

Plant-Based Protein Global Market Report 2023

Food And Beverages Global Market Report 2023

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