The global plant-based food & beverages market is projected to register a CAGR of 9.01% during the review period due to growing preference for a vegan and vegetarian diet.

Plant-Based Food & Beverages Market is predicted to reach USD 40.6 billion at a CAGR of 9.01% during the forecast period:

Market Research Future (MRFR) has published a cooked research report on the “Plant-Based Food & Beverages Market” that contains information from 2018 to 2030. The Plant-Based Food & Beverages Market is estimated to register a CAGR of 9.01% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Plant-Based Food & Beverages Market — Tyson Foods Inc (Arkansas), Danone SA (France), Nestlé S.A. (Switzerland), General Mills Inc. (US), Clara Foods (US), Keystone Natural Holdings (US), and Premier Foods Plc (UK),

Market Highlights

The global Plant-Based Food & Beverages Market is accounted to register a CAGR of 9.01% during the forecast period and is estimated to reach USD 40.6 billion by 2030.

The plant-based food and beverages market was experiencing significant growth and gaining attention worldwide. This trend was being driven by various factors such as increasing consumer awareness about health, sustainability concerns, animal welfare issues, and advancements in food technology. Plant-based products were becoming more accessible, appealing, and diverse, catering to a wide range of dietary preferences and restrictions.

Segment Analysis

The global Plant-Based Food & Beverages Market has been segmented based on Product Type, Source, and Category.

The plant-based food and beverage market has been classified as soy milk, wheat, pea, coconut, almond milk, cashew, and others, according to the source. Throughout the projection period, the pea segment is expected to register the highest CAGR. Because of their nitrogen-fixing capabilities and minimal agronomic input requirements, peas are a popular vegan food source. They are also becoming renowned as agriculturally sustainable crops. Pea protein is commonly found in baking and sports nutrition products.

The plant-based food & beverages market data has been divided into two categories: conventional and organic. Throughout the forecast period, the organic segment is expected to grow at a faster rate. This category comprises food and beverages made from plant ingredients grown organically without the use of synthetic chemicals. Because the ingredients are grown under strict rules and supervision to maintain purity and low-to-zero chemical concentration, these goods are chemical-free.

The plant-based food & beverages market has been segmented into plant-based milk & derivatives, plant-based milk, plant-based meat, bakery & confectionery, sweet & savory snacks, plant-based juices, RTD tea & coffee, and others. The plant-based milk & derivatives category is further subdivided into plant-based milk, plant-based cheese, plant-based yogurt, plant-based butter, and others. Plant-based meat is further subdivided into tofu and tofu products, sausages and patties, seitan, tempeh, and others. In 2020, the plant-based milk & derivatives sector held the biggest market share. Plant-based milk and derivatives are frequently touted as healthy and adequate alternatives for dairy products.

Regional Analysis

The global Plant-Based Food & Beverages Market, based on region, has been divided into North America, Europe, Asia-Pacific and Rest of the World. Europe plant-based food & beverages market is expected to be a profitable location for plant-based food and beverage makers. The region's demand for plant-based food and beverages is increasing at an exponential rate. Customers increasingly prefer healthy and nutritious beverage options over high-calorie soft drinks. Over the projection period, technological advancements have a beneficial impact on the growth of the plant-based food and beverages market in European countries. Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

North American plant-based food & beverages market accounts for the second-largest market share due to factors like consumer awareness of the value of diets high in protein, rising health consciousness, a firmly established beverage sector, and higher adoption of technological advancements in the beverage and beverage industry, North America currently holds the top spot in the market for plant-based beverages. Further, the German plant-based food & beverages market held the largest market share, and the UK plant-based food & beverages market was the fastest growing market in the North American region

The Asia-Pacific plant-based food and beverage industry held the largest share of the worldwide market. China is the region's main country-level market, with the greatest market share throughout the review period. With over 60% of the world's population, or over 4.3 billion people, and strong vegetarian market domination, the area is expected to generate profitable prospects for plant-based food and beverage manufacturers during the projection period. Moreover, China plant-based food & beverages market held the largest market share, and the India plant-based food & beverages market was the fastest growing market in the Asia-Pacific region

Key Findings of the Study

• The global Plant-Based Food & Beverages Market is expected to reach USD 40.6 billion by 2030, at a CAGR of 9.01% during the forecast period.


• The Asia-Pacific plant-based food and beverage industry held the largest share of the worldwide market. China is the region's main country-level market, with the greatest market share throughout the review period.


• The plant-based food and beverage market has been classified as soy milk, wheat, pea, coconut, almond milk, cashew, and others, according to the source. Throughout the projection period, the pea segment is expected to register the highest CAGR.


• Tyson Foods Inc (Arkansas), Danone SA (France), Nestlé S.A. (Switzerland), General Mills Inc. (US), Clara Foods (US), Keystone Natural Holdings (US), and Premier Foods Plc (UK),