Plant-Based Food and Beverage Market - Trends Forecast Till 2028
Plant-Based Food and Beverage Market, By Product Type (Plant-Based Dairy (Milk, Cheese, Creamers, Butter, Yogurt), Plant-Based Meat (Eggs, Ice-Cream, Dressings, Sour Cream, Dips, Spreads)), Source (Soy, Wheat, Almond, Corn, Potato, Lentils, Nuts), Type (Flavoured and Unflavoured), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Stores and Others), Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Published Date: June, 2020
Base Year Estimate: 2019
Report ID: D-FB-PBFBM-16
Number of Pages: 298
Domain: Food & Beverages
Plant-Based Food and Beverage Market – Trends Forecast Till 2028
The global plant-based food and beverage market is anticipated to reach USD 75.2 billion by 2020 growing at a CAGR of 13.5% during the forecasting period, 2020-2028. Plant-based production has become the biggest trend to impact the food and beverage industry. The demand for healthier lifestyles is one of the main drivers. It has been observed that there is a direct link between plant-based diets and decreasing risk of chronic diseases such as heart disease, type 2 diabetes, and cancer, and has also been linked to lower cholesterol and weight loss. Increasing food safety concerns and the growing number of health-conscious consumers are some of the major factors driving the market of plant-based food and beverage market.
The global plant-based food and beverage market is segmented into product type, source, type, distribution channel, and geography
The product type segment is sub-segmented into plant-based dairy and plant-based food
Source segment is sub-segmented into soy, wheat, almond, corn, potato, lentils, and nuts
On the basis of source, the almond segment is expected to dominate the market for plant-based food and beverage market during the forecast period 2020-2028
The type segment is sub-segmented into flavoured and unflavoured
The distribution channel segment is sub-segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online stores and others
On the basis of distribution channel, supermarkets/hypermarkets segment is expected to dominate the market for plant-based food and beverage market during the forecast period 2020-2028
Geographically, the global plant-based food and beverage market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions.
Europe region has come up as the prominent region for the leading share in the overall global market during the forecast period 2020-2028.
Key players in the global plant-based food and beverage market are United Technologies (US), Daikin Industries (Japan), Ingersoll-Rand (Ireland), China International Marine Containers (China), Utility Trailer (US) among others
The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:
- In 2020, Food Tech Company launched a plant-based meat retail store in Singapore where UK and Japan will be next in Horizon
- In 2020, Nestlé launched plant-based Milo in Australia. The product has less sugar as compared to the original Milo and holds a combination of vitamins and minerals so as to support effective energy release
In addition to the market data for the plant-based food and beverage market. Delvens offers client-centric reports and is customized according to the company’s specific demand and requirements.
This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the plant-based food and beverage market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global plant-based food and beverage market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets, products, and technological developments.
The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the plant-based food and beverage market.
Primary Respondent Breakdown is given below:
Top-down and bottom approach were used to derive the market estimate and validate the total revenue of the plant-based food and beverage market. This approach has also been used to derive the market for segmentation and sub-segmentation.
Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Industry/Strategic Consultants