UnivDatos released a report titled “Plant-Based Foods Market By Product (Plant-Based Dairy Alternatives, Plant-Based Nutrition, Plant-Based Meat Substitutes), Application (Plant-Based Supplements and Nutritional Powders, Plant-Based Beverages, Plant-Based Bakery and Snacks, Plant-Based Breakfast and Cereals, Plant-Based Infant Nutrition and Other Plant-Based Food), Source (Soy Protein, Pea Protein, Wheat Protein and others).
The major factors driving the plant-based food market include growing health consciousness among consumers, similar taste as of meat-based food products, lifestyle choices and purchases impacting our environment and animal welfare. There is an increasing demand for natural and organic products due to the changing lifestyle pattern as well as increasing lactose intolerance among the population.
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Global Plant-Based Foods Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
Based on product type, the market is bifurcated into
- Plant-Based Dairy Alternatives
- Plant-Based Nutrition
- Plant-Based Meat Substitutes
The dominance of the dairy category is anticipated during the analyzed period being driven by the growth in dairy alternative drinks such as soy, nut, coconut and other plant-based milk, as well as non-dairy yogurts. Consumers are reducing their meat intake to improve their health that is largely being driven by a growing awareness of the association between high meat consumption and few non-communicable diseases (NCDs).
Based on application, the market is bifurcated into
- Plant-Based Supplements and Nutritional Powders
- Plant-Based Beverages
- Plant-Based Bakery and Snacks
- Plant-Based Breakfast and Cereals
- Plant-Based Infant Nutrition
- Other Plant-Based Food
Plant-based beverages and alternative dairy-alternative beverages segment are gaining a big shopper base, driven last by individuals’ augmented focus on health and sustainability as this segment provides merely a lot of high-quality products offered for people to explore and revel in.
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Based on the source, the market is bifurcated into
- Soy Protein
- Pea Protein
- Wheat Protein
- Others
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In 2018, soy proteins are one of the longest-standing plant-based proteins on the market, generating revenue of US$ 12,728.9 million. Soy serves as a lean source of high-quality complete protein which is lactose-free, cholesterol-free and vegetarian /vegan friendly. Since much research has been conducted to better understand the health benefits to humans from the consumption of soy, consumer interests have shifted over time.