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Plant-based Meals Market Trends

Report ID: GMI7244
Published Date: Oct 2023
Report Format: PDF

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Plant-based Meals Market Trends

The demand for plant-based meals and products had been steadily increasing, driven by factors such as health and wellness concerns, environmental awareness, and ethical considerations. In addition, companies were diversifying their plant-based product offerings, moving beyond basic veggie burgers and meat substitutes to include a wide variety of plant-based options, including dairy alternatives, plant-based seafood, and more.

Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

The market size of plant-based meals reached USD 52.4 billion in 2023 and is set to surpass USD 230.84 billion by 2032, favored by the increasing awareness of the health benefits associated with plant-based diets.

The dairy alternative segment accounted for USD 15.7 billion in 2022, as they are often perceived as healthier options because they tend to be lower in saturated fats and cholesterol compared to traditional dairy products.

North America market size was valued at USD 17.74 billion in 2022, owing to the growing awareness of the environmental impact of animal agriculture, such as deforestation, greenhouse gas emissions, and water usage.

Beyond Meat, Impossible Foods, Danone, Unilever, Kellogg, The Hain Celestial Group, Campbell Soup, Archer Daniels Midland (ADM), Cargill, SunOpta, The Vegetarian Butcher, and Sweet Earth.