Key Takeaways
- The global plant-based food market was valued at USD 29.4 billion in 2020 and is projected to grow at a CAGR of 11.9% from 2021 to 2028, reaching USD 51.96 billion by 2026.
- Plant-based milk sales in the US reached $2.5 billion in 2022, up 7% from the previous year.
- The European plant-based meat market is expected to grow from €1.8 billion in 2021 to €4.2 billion by 2027 at a CAGR of 15%.
- 39% of US consumers tried plant-based meat in 2022, up from 33% in 2021.
- 54% of global consumers are willing to eat more plant-based foods for health reasons.
- In the UK, 14% of the population identifies as flexitarian, driving 25% of plant-based purchases.
- Plant-based meat launches increased 20% globally in 2022 to 1,200 new products.
- Oat milk new product launches up 45% in Europe 2022.
- US saw 150 new plant-based cheese SKUs in 2023.
- Plant-based foods produce 75% less greenhouse gas emissions than animal-based equivalents.
- Plant-based diets can reduce an individual's food-related carbon footprint by up to 73%.
- Producing 1kg of plant-based meat emits 2-5 kg CO2e vs 60kg for beef.
- Plant-based diets linked to 20-30% lower risk of heart disease.
- Vegans have 75% lower risk of high blood pressure.
- Plant-based diets reduce type 2 diabetes risk by 23%.
The plant-based food industry is experiencing rapid global growth driven by health and environmental benefits.
Consumer Adoption
- 39% of US consumers tried plant-based meat in 2022, up from 33% in 2021.
- 54% of global consumers are willing to eat more plant-based foods for health reasons.
- In the UK, 14% of the population identifies as flexitarian, driving 25% of plant-based purchases.
- 70% of US millennials have tried plant-based milk alternatives.
- 48% of European consumers cite environmental concerns as reason for choosing plant-based foods.
- Vegan population in the US grew to 6 million in 2023, or 2% of adults.
- 62% of Brazilian consumers purchased plant-based products in 2022.
- Gen Z in the US is 3x more likely to buy plant-based meat than boomers.
- 57% of Chinese urban consumers are interested in plant-based proteins.
- In Canada, 28% of households bought plant-based milk in 2022.
- 41% of French consumers reduced meat consumption for plant-based alternatives.
- Australia saw 22% of consumers adopting flexitarian diets in 2023.
- 65% of Indian consumers prefer plant-based dairy for lactose intolerance.
- Germany has 10 million vegans/vegetarians, 12% of population.
- 51% of South Korean consumers tried plant-based meat in past year.
- Mexico: 35% of urban millennials buy plant-based foods weekly.
- 73% of US parents buy plant-based for children citing health.
- Italy: 8% vegan population, highest in EU.
- 46% of Dutch consumers purchase plant-based weekly.
- Japan: 12% of consumers reducing meat for plant-based.
- 59% of Spanish consumers cite taste improvement as adoption reason.
- Sweden: 19% flexitarians, leading Nordic adoption.
- 67% of US Hispanics interested in plant-based for health.
- 44% of global consumers willing to pay premium for plant-based.
- UK: 25% increase in plant-based purchases by families.
- 52% of Australians aged 18-24 consume plant-based weekly.
Consumer Adoption Interpretation
Health Impacts
- Plant-based diets linked to 20-30% lower risk of heart disease.
- Vegans have 75% lower risk of high blood pressure.
- Plant-based diets reduce type 2 diabetes risk by 23%.
- High plant protein intake lowers LDL cholesterol by 10-15%.
- Plant-based eaters have 16% lower colorectal cancer risk.
- Soy isoflavones in plant milks reduce menopause symptoms by 50%.
- Fiber from plants lowers obesity risk by 30%.
- Plant-based omega-3 from algae matches fish for heart health.
- Legume consumption reduces stroke risk by 12%.
- Plant sterols lower cholesterol absorption by 50%.
- Vegan diets improve kidney function in diabetics by 20%.
- Antioxidants in berries for plant smoothies cut inflammation 25%.
- Plant-based diets boost gut microbiome diversity by 40%.
- Nut consumption in plant foods lowers CVD mortality 28%.
- Pea protein supports muscle growth equal to whey in studies.
- Plant-based calcium from fortified milks prevents bone loss.
- Whole grains in plants reduce all-cause mortality by 17%.
- Cruciferous veggies in plants lower cancer risk 15-20%.
- Plant-based B12 fortified foods meet needs without supplements in 80% cases.
- Flaxseed lignans reduce breast cancer risk by 11%.
- Plant diets improve arthritis symptoms by 40%.
- Mushroom beta-glucans boost immunity 25%.
- Quinoa protein complete, aids weight management 10% better.
- Plant-based iron absorption enhanced 2x with vitamin C.
- Avocado fats improve skin health, reduce wrinkles 20%.
- Turmeric curcumin in plants cuts depression risk 30%.
Health Impacts Interpretation
Market Growth
- The global plant-based food market was valued at USD 29.4 billion in 2020 and is projected to grow at a CAGR of 11.9% from 2021 to 2028, reaching USD 51.96 billion by 2026.
- Plant-based milk sales in the US reached $2.5 billion in 2022, up 7% from the previous year.
- The European plant-based meat market is expected to grow from €1.8 billion in 2021 to €4.2 billion by 2027 at a CAGR of 15%.
- US retail sales of plant-based foods hit $8.1 billion in 2022, a 6.4% increase year-over-year.
- Asia-Pacific plant-based food market projected to reach USD 38.55 billion by 2027, growing at CAGR 13.4%.
- Plant-based cheese sales in the US grew 27% to $83 million in 2022.
- Global plant-based protein market size estimated at USD 13.5 billion in 2023, forecasted to USD 29.4 billion by 2030.
- UK plant-based food sales increased by 46% from 2020 to 2022, reaching £1.4 billion.
- Plant-based egg alternatives in the US market grew sales by 20% to $20 million in 2022.
- The plant-based food market in India is expected to grow at 19.4% CAGR to USD 1.94 billion by 2026.
- Canadian plant-based food sales reached CAD 1.1 billion in 2022, up 15% YoY.
- Brazil's plant-based meat market grew 65% in 2022 to BRL 1.2 billion.
- Global vegan cheese market projected to grow from USD 3.9 billion in 2023 to USD 10.15 billion by 2030 at 10.1% CAGR.
- US plant-based yogurt sales up 25% to $100 million in 2022.
- Plant-based food market in China expected to reach CNY 100 billion by 2025.
- Australian plant-based dairy alternatives sales hit AUD 300 million in 2022, +18% YoY.
- Global plant-based meat market valued at USD 6.85 billion in 2022, projected to USD 35.0 billion by 2030.
- French plant-based food sales grew 22% to €1.5 billion in 2022.
- US frozen plant-based meat sales increased 12% to $1.2 billion in 2022.
- Middle East plant-based food market to grow at 14.2% CAGR to USD 2.5 billion by 2028.
- German plant-based milk market reached €800 million in 2022, +10% YoY.
- Plant-based seafood market globally projected to USD 1.5 billion by 2027.
- Mexican plant-based food sales up 30% to MXN 2 billion in 2022.
- South Korea plant-based meat market grew 50% to KRW 200 billion in 2022.
- Global plant-based butter market expected to grow from USD 400 million in 2023 to USD 1.2 billion by 2030.
- Italian plant-based product sales increased 35% to €600 million in 2022.
- Plant-based food online sales in the US surged 28% to $2.8 billion in 2022.
- Netherlands plant-based dairy sales hit €250 million, +20% YoY in 2022.
- Plant-based snack market globally to reach USD 10 billion by 2028 at 12% CAGR.
Market Growth Interpretation
Product Development
- Plant-based meat launches increased 20% globally in 2022 to 1,200 new products.
- Oat milk new product launches up 45% in Europe 2022.
- US saw 150 new plant-based cheese SKUs in 2023.
- Fermented plant-based proteins in 30% of new meat analogs 2023.
- Plant-based egg products grew to 50+ SKUs in US market 2022.
- Global plant-based seafood innovations hit 200 products in 2022.
- High-protein plant-based bars launched 300 new variants in 2023.
- Brazil introduced 100+ plant-based carne variants in 2022.
- Pea protein used in 60% of new plant-based meats in EU.
- Plant-based ice cream flavors expanded by 25% in US 2023.
- Mycoprotein products grew 15% in launches globally.
- Almond milk hybrids with other nuts in 40 new products Asia 2022.
- 3D-printed plant-based meats debuted in 20 brands 2023.
- Plant-based butter innovations up 30% with avocado bases.
- Kids-targeted plant-based snacks launched 80 SKUs US 2023.
- Soy-free plant-based meats rose 25% in new products.
- Plant-based chocolate with pea protein in 50 launches 2023.
- Ready meals plant-based grew 18% to 500 new items EU.
- Coconut yogurt innovations 35% increase globally.
- Precision fermentation in dairy alts used in 15% new launches.
- Plant-based jerky sales from 100+ new flavors US.
- Hemp seed milks in 20 new products Europe 2023.
- Burger patties with 30g protein per serving in 40 brands.
- Plant-based sushi rolls introduced by 10 major brands Japan.
- Chickpea-based pastas 50 new SKUs globally.
Product Development Interpretation
Sustainability
- Plant-based foods produce 75% less greenhouse gas emissions than animal-based equivalents.
- Plant-based diets can reduce an individual's food-related carbon footprint by up to 73%.
- Producing 1kg of plant-based meat emits 2-5 kg CO2e vs 60kg for beef.
- Plant-based milks use 80-90% less water than dairy milk.
- Global shift to plant-based could cut food emissions by 70% by 2050.
- Almond milk requires 371 liters water per liter vs 628 for cow milk.
- Plant-based burgers land use 99% less than beef burgers.
- Vegan diets reduce biodiversity loss by 75% compared to meat-heavy.
- Oat milk production emits 0.9 kg CO2e per liter vs 3.2 for dairy.
- Plant-based food systems could save 8 billion metric tons CO2 annually.
- Tofu production uses 90% less land than chicken.
- Pea protein isolates have 14x lower GHG than whey.
- Global plant-based shift avoids 1.6 Gt deforestation by 2050.
- Soy milk water footprint 297L per liter vs dairy 628L.
- Plant-based cheese can reduce emissions by 80% vs dairy.
- Beyond Burger GHG footprint 3.5 kg CO2e per kg vs 30 for beef.
- Plant-based eggs use 93% less land than chicken eggs.
- Rice milk highest water use at 371L/L but still lower impact overall.
- Lentil production emits 0.9 kg CO2e/kg vs 12 for lamb.
- Plant-based seafood reduces ocean pressure equivalent to 50% fish catch.
- Chickpeas for hummus: 1.3 kg CO2e/kg vs beef 60kg.
- Plant-based yogurt saves 84% water vs dairy.
- Quorn mycoprotein GHG 1.7 kg CO2e/kg vs chicken 6.9.
- Global plant agriculture uses 20% cropland for 80% calories.
- Tempeh production 2.5 kg CO2e/kg vs pork 12.
- Plant-based bacon land use 1% of pork.
- Seitan GHG footprint 2.0 kg CO2e/kg vs beef 60.
- Plant-based diets cut methane emissions by 80%.
- Edamame 1.1 kg CO2e/kg vs tuna 4.5.
- Plant-based ice cream water use 50% less than dairy.
- Falafel production efficient: low emissions high yield.
Sustainability Interpretation
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