The expected growth of plant-based food globally can be attributed to the impact of non-vegetarian and dairy food on the environment and human health. One of the major contributors to global warming is the livestock industry, and, relative to plant-based agriculture, meat production has a much higher environmental impact in relation to freshwater use, amount of land required, and waste products generated. Promoting increased consumption of plant-based foods is a recommended strategy to reduce human impact on the environment and is also now recognized as a potential strategy to reduce the high rates of some chronic diseases such as cardiovascular disease and certain cancers. Roughly 387 million people are living with diabetes, and according to the International Diabetes Federation, that number is expected to soar to nearly 600 Million by 2035. Studies claim a whole-food, plant-based diet can prevent and even reverse a litany of food and lifestyle-borne illnesses, including heart disease and type 2 diabetes. Bakery item and snacks also contribute to these health issues. Thus, it is important for this section to be moved to plant-based food.
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Based on by product segment, plant-based food market has been segmented into Plant-Based Milk, Plant-Based Meat, Plant-Based Creamer, Plant-Based Cheese, Plant-Based Yogurt, Plant-Based Butter and Others. Global Plant-based Milk market stood at US$ 9,320.3 million in 2019. Europe dominated the Plant-based Milk market with 33.5% share in 2019. Cow’s milk boasts an impressive nutrient profile. But people always do not prefer dairy products. Americans say they are consuming less dairy for health reasons. The intake of plant-based drinks is increasing in the UK. In fact, the sector is predicted to rise by 43% by 2021. The growing concerns regarding the environmental impact and sustainability of the meat industry are the major growth driver of the global plant-based meat market. The growing concerns regarding the sustainability of livestock production, meat availability, and change in food preferences have led to many people opting for meat substitutes. This has immensely benefitted the plant-based meat market globally.
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With the growth of social media as a platform to share information, a plant-based diet is becoming more visible and could be more accepted in sports and in the health and fitness industry. When it comes to plant-based nutrition, people have moved towards alternative protein sources, with the traditional dominance of whey and other dairy proteins now being challenged by plant-based products. This trend is apparent across the food and drinks market, and sports nutrition is no exception. Global Plant-Based Supplements & Nutritional Powders market stood at US$ 3,292.5 million in 2019. North America accounts for 31.1% market share for the segment in 2019. North America is expected to generate revenue of US% 2,648.0 million by 2026.
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Regionally, Europe dominated the market with 33.5% share. Europe is expected to generate revenue of US$ 17,769.5 million by 2026. However, Asia-Pacific is expected to witness the highest CAGR of 16.22% during the forecast period 2021-26. UK dominated the European Plant-Based food market, generating revenue of US$ 2,681.3 million in 2019. UK is expected to witness a CAGR growth of 12.3% during the forecast period 2021-26 to reach a market size of US$ 5,614.1 million by 2026. However, the rest of Europe would witness the highest CAGR growth of 13.86% during the analyzed period. According to recent statistics by manufacturer Nelson, demand for plant-based product development has spiked by close to 140%. It has been estimated that global plant-based food market will reach US$ 37.0 billion by 2020. 7% of the U.K. population identifies as vegan, while a 2016 study found that 4.3 % of the German population between 18 and 79 identified as vegetarian. In comparison, only 3.3% of people in the U.S. considered themselves vegan or vegetarian.
Plant-Based Foods Market was valued US$ 23,010.7 million in 2019 and is estimated to reach US$ 37,507.5 million in 2020 amid COVID-19 pandemic as consumers are preferring plant-based foods products over conventional foods products and also because of the panic buying. The Plant-Based Foods Market is expected to reach US$ 56,353.9 million by 2026, growing at a CAGR of 14.87% over the forecast period.

Table of Contents:

1. MARKET INTRODUCTION 16
1.1 Market Definition 16
1.2 The objective of the Study 16
1.3 Limitation 16
1.4 Stakeholders 16
1.5 Currency used in the Report 17
1.6 Scope of the Plant-Based Foods Market Study 17
2. RESEARCH METHODOLOGY 18
2.1 Research Methodology for Plant-Based Foods Market Study 18
2.1.1 The main objective of the Plant-Based Foods Market Study 19
3. REGULATORY FRAMEWORK 20
3.1 General Overview 20
3.1.1 North America Regulatory Framework for Plant-Based Food 20
3.1.2 Europe Regulatory Framework for Plant-Based Food 21
3.1.3 APAC Regulatory Framework for Plant-Based Food 21
3.1.4 Rest of the World Regulatory Framework for Plant-Based Food 22
4. INDUSTRY PERFORMANCE 25
5. EXECUTIVE SUMMARY 26
6. MARKET OVERVIEW 28
6.1 Introduction 28
6.2 Market Dynamics 28
6.2.1 Market Drivers 29

……Continuned

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