Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Plant-Based Food Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
How Will the Plant-Based Food Market Grow Between 2024 and 2025?
The plant-based food market size has significantly increased recently. The market size was $56.99 billion in 2024 and is projected to reach $64.14 billion in 2025, with a compound annual growth rate (CAGR) of 12.5%.
How Much Will the Plant-Based Food Market Be Worth in 2029?
The global plant-based food market is projected to be worth $108.55 billion in 2029, growing at a compound annual growth rate (CAGR) of 14.1%.
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Which Plant-Based Food Market Drivers Are Linked to Revenue Growth?
The key drivers in the plant-based food market are:
• Escalating consumer preference for plant-based food products
• Recognition of the health benefits associated with plant-based foods
• Increasing ethical concerns over animal products
• Rising environmental concerns associated with animal farming and products
Which Segments Are Expected to Grow in the Plant-Based Food Market?
The plant-based foodmarket covered in this report is segmented –
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
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What Are The Key Trends Impacting Growth In The Global Plant-Based Food Market?
The key trends in the plant-based food market are:
• Product innovation is emerging as a significant trend in the plant-based food industry.
• The creation of clean-label products, vegan cheeses, egg substitutes and more showcases a trend towards innovation and variety in offerings.
• The use of plant-based alternatives for traditionally non-vegetarian food items highlights a major shift in the market.
• Focusing on health benefits such as low fat content, zero mercury and trans-fat content in these alternative products indicates an increasing trend towards wellness and health in the plant-based food market.
Who Are the Key Competitors in the Global Plant-Based Food Market?
Major players in the plant-based food market are:
• Nestlé S.A.
• Archer-Daniels-Midland Company
• Danone SA
• Kellogg Company
• Gold and Green Foods
• Hain Celestial Group Inc.
• Oatly Group AB
• Turtle Island Foods
• Amy's Kitchen Inc.
• Beyond Meat Inc.
• Happy Little Vegan
• Morning Star Farms
• Impossible Foods
• Quorn Foods
• Alpro
• Daiya Food, Inc.
• The Vegetarian Butcher
• Atlantic Natural Foods LLC
• Fry Group
• Gardein
• Soylent
• Tofutti Brands, Inc.
• So Delicious Dairy Free
• Cauldron Foods
• Mosaic Foods Inc.
• Sunfed Meats
• VBites
• Garden Protein International Inc.
• Herbivore
• Kite Hill Foods
• Laird Superfood
• Like Meat Without Meat
• MOS Burger
• Vitalite
• Yfuel
Where Is the Plant-Based Food Market Growing Fastest Between 2025 and 2029?
North America was the largest region in the plant-based food market in 2024
