us plant based food market Overview
Recent years have seen a notable increase in the demand for plant-based food in the US, which is indicative of a profound change in consumer tastes and lifestyle decisions. Numerous reasons are coming together to fuel this growing industry, such as increased awareness of animal welfare, environmental businesses, and health information. A major element driving the increase in demand for plant-based food is customers' increased emphasis on heartiness and health. Plant-based choices have become more and more popular as more and more individuals are supporting healthy cultures. This is because they are often seen as superior than conventional plant-based food in terms of nutrients. The growing trend of veganism and vegetarianism, driven by the desire for a diet high in fruits, vegetables, and plant-based proteins, has resulted in a growing market for products made in factories. An important aspect in the growing demand for plant-based foods is environmental concerns. In general,
plant-based food has less of an environmental effect than traditional animal husbandry. The market for plant-based food is in line with consumers' growing environmental consciousness and their desire to make sustainable decisions. Individualities reduce hothouse gas emigrations, save water resources, and lessen the total ecological footprint linked with food products by drawing conclusions for plant-based demand. Additionally, a growing number of customers are concerned about the ethical treatment of animals, which is fueling the demand for choices sourced from factories. The market for plant-based food provides a compassionate alternative to traditional animal husbandry by giving customers access to goods that don't require the exploitation or harming of animals. People are shifting to plant-based food in order to better line their dietary choices with their ethical values as awareness of animal welfare concerns grows. The market has seen an explosion of creative plant-based products in response to this growing need. In order to make the switch to a plant-based diet more appealing and approachable for a wider audience, companies are investing in research and development to create plant-based demand that replicate the flavor and texture of conventional beast- grounded meals. The range of products on the market has increased dramatically, ranging from plant-based burgers and bangers to dairy-free milk and garbage backups. The expansion of the plant-based food business may be seen in conventional grocery shops and restaurant menus as well as in specialty health food stores. Leading restaurant chains and retailers are now designating menu items and store space for plant-based goods in recognition of the changing dietary choices of their customers. The normalization of plant-based eating is facilitated by its greater visibility and availability, which also increases demand for it across various consumer segments.
Frequently Asked Questions (FAQ) :
In 2024, the US Plant-Based Food Market is expected to be valued at approximately 1944.14 billion USD.
By 2035, the market is anticipated to reach a size of around 5000.0 billion USD.
The compound annual growth rate (CAGR) for the market is expected to be 8.967 percent for the period from 2025 to 2035.
The largest segment in 2024 is expected to be Plant-Based Milk and Derivatives, valued at approximately 600.0 billion USD.
In 2024, the Bakery and Confectionery segment is expected to be valued at around 400.0 billion USD.
Major competitors in the market include Impossible Foods, Beyond Meat, Gardein, and MorningStar Farms among others.
The Sweet and Savory Snacks segment is anticipated to be valued at approximately 350.0 billion USD in 2024.
By 2035, the RTD Tea and Coffee segment is expected to grow to a market value of around 1100.0 billion USD.
Challenges include competition from traditional food products and fluctuating ingredient costs.
The growth rate of the US Plant-Based Food Market is robust across all regions, driven by increasing consumer demand for healthier alternatives.
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