Plant-Based Food Market Report 2025

The plant-based food market size has grown rapidly in recent years. It will grow from $56.99 billion in 2024 to $64.56 billion in 2025 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to growing health consciousness, environmental concerns, ethical and animal welfare considerations, innovations in product offerings, mainstream retail availability.

The plant-based food market size is expected to see rapid growth in the next few years. It will grow to $109.86 billion in 2029 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to continued health and wellness trend, climate change awareness, expansion of vegan and flexitarian populations, investments and expansion by food companies, government initiatives and regulations. Major trends in the forecast period include introduction of plant-based eggs and dairy alternatives, focus on nutrient-dense plant-based snacks, market expansion in retail and e-commerce, globalization of plant-based cuisine, sustainable packaging solutions.

The increasing preference for plant-based food products is anticipated to drive the growth of the plant-based food market in the coming years. Plant-based food products are entirely made from 100% plant ingredients and contain no animal products or animal-derived ingredients, consisting solely of vegetables, fruits, and grains. This rising preference is fueled by health benefits, ethical considerations, and environmental concerns. As more individuals opt for plant-based foods, market growth is likely to accelerate. For example, in April 2023, The Good Food Institute Inc., a UK-based organization, reported that the total sales value of the plant-based category for meat alternatives in Europe reached €2 billion in 2022, marking a 3% increase from the previous year. Thus, the growing preference for plant-based food products is driving the expansion of the plant-based food market.

The increasing prevalence of various cardiovascular diseases is expected to drive the growth of the plant-based food market in the future. Cardiovascular diseases (CVD) encompass a range of disorders affecting the heart and blood vessels. Plant-based food products are recognized for promoting cardiovascular health and preventing such diseases, as a diet rich in fruits, vegetables, whole grains, legumes, nuts, and seeds is linked to numerous cardiovascular benefits. For instance, in March 2024, data from a UK public sector information website indicated that in the fiscal year ending 2023, approximately 1,862,500 individuals (3%) in England were diagnosed with coronary heart disease and heart failure by general practitioners. Thus, the rising prevalence of cardiovascular diseases is propelling the growth of the plant-based food market.

Product innovation stands out as a prominent trend gaining traction within the plant-based food market. Major players in this market are directing their efforts towards the development of inventive products, including clean-label items, vegan cheeses, egg substitutes, and other offerings, as a strategy to fortify their market positions. For instance, in July 2022, Century Pacific Food, Inc., a Philippines-based food and beverage company, unveiled the groundbreaking plant-based alternative 'unMEAT Fish-free Tuna.' This innovative product, entirely free of fish and composed of plant-based ingredients, utilizes non-GMO components. The unique design of the product ensures low fat content, with zero traces of mercury and trans-fat. The company engineered the product to replicate the taste, texture, and appearance of tuna, all while remaining entirely fish-free.

In the realm of the plant-based food market, major corporations are forging partnerships to cultivate novel products and enhance their standing in the industry. Strategic partnerships involve companies leveraging each other’s strengths and resources for mutual benefits and success. A case in point is the October 2023 collaboration between Nelson-Jameson, a US-based food processing distributor, Vaess, a Dutch-based food tech company, and Lallemand Specialty Cultures, a US-based specialty cultures manufacturing company. This partnership aims to expand plant-based manufacturing, offering diverse options to customers and addressing the escalating demand for variety in existing portfolios. The collaboration focuses on implementing strategic approaches for companies engaged in the production of plant-based and hybrid products.

In January 2022, PlantPlus Food LLC, a Canada-based provider of a variety of finished plant-based food products, acquired Sol Cuisine Inc for $125.4 million. This acquisition broadens PlantPlus Foods' portfolio, introducing plant-forward and meat-analog products in appetizers, entrees, and meat-analog components. The strategic move allows the company to cater to the diverse preferences and lifestyle choices of consumers across multiple categories. Sol Cuisine Inc., the acquired entity, is a Canada-based producer specializing in consumer-preferred plant-based protein foods.

Major companies operating in the plant-based food market include Nestlé S.A., Archer-Daniels-Midland Company, Danone SA, Kellogg Company, Gold and Green Foods, Hain Celestial Group Inc., Oatly Group AB, Turtle Island Foods, Amy's Kitchen Inc., Beyond Meat Inc., Happy Little Vegan, Morning Star Farms, Impossible Foods, Quorn Foods, Alpro, Daiya Food, Inc., The Vegetarian Butcher, Atlantic Natural Foods LLC, Fry Group, Gardein, Soylent, Tofutti Brands, Inc., So Delicious Dairy Free, Cauldron Foods, Mosaic Foods Inc., Sunfed Meats, VBites, Garden Protein International Inc., Herbivore, Kite Hill Foods, Laird Superfood, Like Meat Without Meat, MOS Burger, Vitalite, Yfuel.

North America was the largest region in the plant-based food market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global plant-based food market during forecast period. The regions covered in the plant-based food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plant-based food market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Plant-based food encompasses food items, products, or meat made entirely from 100% plant ingredients, devoid of any animal products. Used for nutritional purposes and as potential sources in traditional medicines, plant-based food reflects a growing trend in dietary choices.

The primary types of plant-based food comprise dairy alternatives, meat alternatives, egg substitutes, condiments, and other variations. Meat substitutes emulate meat by emphasizing common characteristics and relationships and are derived from sources such as soy, almond, wheat, pea, rice, distributed through various channels such as supermarkets, hypermarkets, convenience stores, and online platforms.

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The plant-based food market consists of sales of tofu, bread, plant-based protein powder, cheese, and mock meat. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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