About Plant Based Foods and Beverages Alternatives
A plant-based foods and beverages alternatives generally focuses on the consumption of food obtained from plants. It includes fruits, vegetables, seeds, nuts, grains, etc. More consumers are turning towards plant-based foods and beverages alternatives reducing their animal-based products due to various reason. While many consumers still wanted mouth feeling texture and varieties in various animal derived product. This is the reason it led development of various plant-based alternatives to mimic the taste as well as experience of various animal-based products. Some consumers believe that including more plant-based foods in their diet makes them healthier. Plant based food consist of nutrition’s which are beneficial for the consumer’s body. Becoming a vegan is one of the motives of plant-based foods and alternative industries. Plant based foods and beverages not fully consist of a plant but also a dairy products like milk and eggs. Hence, “the plant-based diet” term is quite connotative. One of the major advantages of plant-based and beverages alternatives is the opportunity to use a larger variety of ingredients to adjust the composition of the product to meet the technological, nutritional, functional needs and consumer preferences alike.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
In This Market Major Players Are Taking Initiatives To Meet Their Organic And Inorganic Strategy Growth, Companies Are Investing In Product Portfolio And Also Focusing Towards Enhancing Their Global Reach. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Plant Based Foods and Beverages Alternatives market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Beyond Meat Inc. (United States), Impossible Foods (United States), Amy’s Kitchens (United States), Light Life Foods (United States), Molson Coors (United States), Blue Diamond Growers (United States), DSM (Netherlands), Danone (France), Daiya Foods Inc (Canada), Kikkoman (Japan), Goodmylk (India), Bveg Foods (India) and Good Dot (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are The Whitewave Foods Company (United States), Follow Your Heart (United States), Vbites Food, Ltd. (United Kingdom), Sunopta (Canada) and Want Want China Holdings Limited (China).
Segmentation Overview
AMA Research has segmented the market of Global Plant Based Foods and Beverages Alternatives market by Type (Plant Based Creamers, Plant-Based Milk, Plant-Based Cheese, Plant-Based Butter, Plant-Based Yogurt, Plant-Based Meat and Others), Application (Commercial and Residential) and Region.
On the basis of geography, the market of Plant Based Foods and Beverages Alternatives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Plant Based Foods and Beverages Alternatives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging , the sub-segment i.e. Containers will boost the Plant Based Foods and Beverages Alternatives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing the Popularity of Flavored Product
Market Growth Drivers:
An Increasing Amount of Consumers Are Health and Ethical, Growing Concerns about Food Safety and Increasing awareness of animal welfare
Challenges:
Change In Consumers Taste and Textures. and Rising Preference Towards Homemade Food
Restraints:
Consumptions Of Chemical Residues in Beverages Can Causes Allergens.
Opportunities:
Growing Demand for Functional Food and Beverages. and Rising Health Consciousness Among Consumers
Market Leaders and their expansionary development strategies
In February 2021, Danone Has Entered into An Agreement to Acquire Earth Island, Los Angeles, The Maker of Plant-Based Products Sold Under The “Follow Your Heart Brand”. Terms Of the Acquisition Were Not Disclosed. Product Applications Sold by Earth Island Include Veganaise and Other Dips and Spreads, Dairy-Free Cheese, Dairy-Free Yogurt, Salad Dressing, Plant-Based Eggs and A Pancake and Waffle Batter.
In May 2022, US Multinational Beverage Company Molson Coors Is Set to Launch a Plant-Based Milk Brand as Part of Its Audacious Plan to Move Beyond Beer and Emerge as A Total Beverage Company.
Key Target Audience
Plant Based Foods and Beverages Alternatives Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.