The global plant-based food market is expected to reach **** billion U.S. dollars in 2025. Further growth is expected. The forecast projects that by 2030 the market will have more than ******** For 2022, the model expects a market worth **** billion U.S. dollars.

The global plant-based food market is valued at USD 14,225.3 million in 2025 and is poised to reach USD 44,181.9 million by 2035, reflecting a CAGR of 12%. The market is experiencing rapid and sustained growth due to a combination of health, environmental, ethical, and technological factors that are reshaping consumer preferences and food industry strategies.

Country-Wise Outlook

According to Cognitive Market Research, the global Plant-Based Food market size was USD 12541.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 13.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 5016.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3762.36 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2884.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 627.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 250.82 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.9% from 2024 to 2031.
The dairy substitute category is the fastest growing segment of the Plant-Based Food industry

Market Dynamics of Plant-Based Food Market

Key Drivers for Plant-Based Food Market

Growing Awareness of the Advantages of Consuming a Plant-Based Diet for Health to Boost Market Growth

Global consumers now have a comprehensive awareness of the harmful effects of consuming too much meat because of a variety of government initiatives, including exposure and awareness campaigns. Overindulging in meat consumption can result in several health issues, such as hypertension, obesity, elevated cholesterol, as well as blood sugar, all of which may result in cardiac arrest. About 90% of the over 356,000 out-of-hospital cardiac arrests (OHCA) that occurred in the United States in 2020 were fatal, according to the Sudden Cardiac Arrest Foundation. Customers are being forced to convert to vegan products because they are healthier and just as nutrient-dense. A vegetarian diet can lower blood pressure, lessen the danger of heart disease, lower the possibility of obesity, and cut the risk of type-2 diabetes, among other health benefits. Consequently, the market for plant-based foods is expected to increase at a faster rate throughout the forecast period.

Advancements in Food Technology to Drive Market Growth

The development of distinct plant-based alternatives that closely imitate the flavor, texture, and appearance of animal products is one of the factors driving the demand for plant-based foods thanks to advancements in food technology. These days, plant-based meat substitutes that mimic the tastes and textures of real meat are readily available as burgers, sausages, and nuggets. Plant-based components such as soy, wheat, and pea protein are used to make these substitutes. Furthermore, advancements in food technology have enabled the production of vegan cheese, ice cream, yogurt, and other dairy substitutes that are very similar to their animal-based counterparts. To improve the sensory experience of vegan substitutes, emulsifiers, texture modifiers, and taste enhancers are being used. For instance, Shiru, Inc. announced the release of OleoPro, a plant-based fat component. The ingredient was developed using Flourish, the company's in-house technological platform. The application utilizes artificial intelligence (AI) to produce insights regarding novel plant-based protein substitutes.

Restraint Factor for the Plant-Based Food Market

Inflationary Pressures Restrain Growth in the Plant-Based Food Market

Rising inflation and economic uncertainty have emerged as significant restraints on the growth of the plant-based food market. Plant-based foods are more expensive due to a variety of reasons, such as higher labour costs, less government subsidy than for animal farming, and the recent surge in demand for plant-based foods, along with sourcing and supply chain problems, particularly with core plant protein sources like soy and pea-can also drive up production costs. As living expenses rise, consumers are becoming increasingly pinched in their expenditures, going for necessary and lower-cost versions of staples instead of high-cost plant-based alternatives. This trend is especially predominant in the meat substitutes category, where higher manufacturing a...

The Plant-Based Food and Beverages Market Report is Segmented by Type (Plant-Based Dairy, Meat Substitutes, and More), Ingredient Source (Soy, Almond, Pea, and More), Form (Refrigerated/Chilled, Frozen, and More) Distribution Channel (On-Trade and Off-Trade), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

In 2020, sales of plant-based food in the United States were valued at almost *** billion U.S. dollars. By 2026, this figure is expected to reach *** billion U.S. dollars.

The Europe Plant-Based Food and Beverages Market Report is Segmented by Product Type (Plant-Based Dairy, Meat Substitutes, and More), Ingredient (Soy, Oat, and More), Form (Refrigerated/Chilled, Frozen, and More), Distribution Channel (On-Trade and Off-Trade), and Country (United Kingdom, Germany, France, Italy, Spain, Netherlands, Sweden, Poland, and More). The Market Forecasts are Provided in Terms of Value (USD).

Plant-based Food Market by Type (Dairy Alternatives, Plant-based Meat, Meals, Confectionery, Beverages, Egg Alternatives, Seafood), Source (Soy, Wheat, Pea, Rice), Distribution Channel (B2B, B2C [Convenience Store, Online Retail]) - Global Forecast to 2031

In 2020, sales of plant-based food in the United Kingdom through the distribution channel of supermarkets and hypermarkets were valued at almost *** million U.S. dollars. By 2026, this figure is expected to reach *** million U.S. dollars.

Plant-based Food Market size is expected to be worth around USD 68.9 Bn by 2033, from USD 22.0 Bn in 2023, growing at a CAGR of 12.1%

According to Cognitive Market Research, the global Vegan Food market size is USD 17584.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 11.50% from 2024 to 2031.

North America held the major market share for more than 38.60% of the global revenue with a market size of USD 7033.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.
Europe accounted for a market share of over 28.40% of the global revenue with a market size of USD 5275.26 million.
Asia Pacific held a market share of around 25.60% of the global revenue with a market size of USD 4044.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031.
Latin America had a market share of more than 5.30% of the global revenue with a market size of USD 879.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2.00% of the global revenue and was estimated at a market size of USD 351.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031.
The Meat Substitute held the highest Vegan Food market revenue share in 2024.

Market Dynamics of Vegan Food Market

Key Drivers for Vegan Food Market

Growing prevalence of lactose intolerance and dairy allergies Increases the demand globally

There is a significant increase in vegan food markets due to the increasing prevalence of lactose intolerance and dairy allergies. Vegan and plant-based foods provide an alternative option for consumers of dairy food owing to their dairy allergies. It provides dairy-free options like soy yogurt, coconut-based cheeses, and almond milk. The growth of the vegan food market is propelled by the increasing number of people learning about health and well-being and hence seeking vegan products to enhance digestive health and general well-being. Additionally, with rising demand for alternative healthy eating opportunities, the food manufacturer expanding their vegan product lines to cater to the demand of the market.

Expansion of vegan product offerings by mainstream food companies to Propel Market Growth

Increasing expansion of vegan products by manufacturers of vegan food companies significantly drives the market growth. Companies like Danone S.A., Kellogg Company, and Conagra, Inc. are starting to pay attention to the rapid growth in the vegan food market by expanding their vegan product offerings. As more people are moving towards veganism, these corporations are venturing more into plant-based foods to cater to the demand of vegetarians. For instance, in July 2022, Danone launched a new Dairy & Plants Blend baby milk substitute that has the healthful benefits of dairy and plant proteins. The preparation is made up of 60% non-GMO soy-based protein and 38.60% casein and also includes lactose, a carbohydrate that is found in breast milk.

Source: (https://www.danone.com/stories/articles-list/danone-launches-new-dairy-plants-blend-baby-formula.html)

Restraint Factor for the Vegan Food Market

Higher cost of vegan products compared to non-vegan alternatives hindered the market growth

The growth of the vegan food market has been slowed down by the greater expense of vegan goods in contrast to non-vegan ones. Plant-based products, containing meat substitutes or milk alternatives, tend to cost more than ordinary ones according to a great number of consumers. The higher prices of vegan food are also due to the higher costs of raw materials, smaller production scales, and specialized manufacturing processes which restrain the growth of the market.

Impact of Covid-19 on the Vegan Food Market

The COVID-19 pandemic has had various effects on the Vegan Food marketplace. Initially, disruptions in worldwide delivery chains and production tactics triggered delays in product availability. However, the pandemic highlighted the need for vegan food owing to the importance of health and sustainability. During the pandemic, e-commerce and online retail grew appreciably, growing the call for plant-based foods to boost immunity. Furthermore, rigorous fitness and safety rules encouraged companies to look into vegan food to increase consumer preference towards clean and sustainable eating. Despite boundaries, the pandemic has hastened the adoption of vegan foods, getting ready the marketplace for lengt...

India Plant-Based Food Products Market size is valued at around USD 4.9 million in 2025 and is projected to reach USD 21.87 million by 2030 at a 34.87% CAGR.

The booming plant-based food & beverage market is projected to hit $24.22 billion by 2025, growing at a 14.8% CAGR. Discover key trends, market drivers, and leading companies shaping this rapidly expanding sector. Explore regional breakdowns and future growth predictions for plant-based meat, dairy alternatives, and more.

The Global Plant-based Food & Beverages Market Size Was Worth USD 36.73 Billion in 2023 and Is Expected To Reach USD 70.54 Billion by 2032, CAGR of 8.50%.

In 2024, milk alternatives had the highest sales value in the plant-based food market in the United States. In the 52 weeks ending December first that year, sales of milk alternatives were valued at approximately *** billion U.S. dollars. Meat alternatives were valued at *** billion U.S. dollars. Tofu, tempeh, and Seitan were valued at approximately *** million U.S. dollars. The year-on-year growth rate for plant-based foods in the U.S. can be found here.
Plant-based meat and milk market in the U.S. Almond milk is the top-selling category of milk substitutes in the United States. Sales of soy and coconut milk were low in comparison. The most well-known plant-based milk brands among consumers in the U.S. are **** and ***************************** In the meat substitutes market, the most purchased plant-based meats in the U.S. in 2022 were beef-style alternative burgers and traditional veggie burgers. *********** and ************* are the most popular meat-substitute brands. Decline of the plant-based meat market in the U.S. The plant-based meat market has entered a downward trend. Compared to 2023, the market in 2024 shrank by ** percent measured in unit sales. Taking the prior year's decline into account, the market shrank by over a quarter.

The Mexico Plant-Based Foods and Beverages Market Report is Segmented by Product Type (Plant-Based Dairy, Meat Substitutes, Plant-Based Nutrition/Snack Bars, Plant-Based Bakery Products, Plant-Based Beverages, Other Food and Beverages), Protein Source (soy, Almond, Pea, Oat, Wheat, Rice, and More), and Distribution Channel (On-Trade, Off-Trade). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

The global plant-based food & beverages alternatives market size was valued at USD 36.4 billion in 2024 and is anticipated to reach USD 114.6 billion by 2034 at a CAGR of 11.8% | Plant-based Food Market | Plant-based Beverages Market | Plant-Based Alternatives/ Ingredients Market | Plant-Based Food...

The global vegan food market size is projected to grow from USD 27.57 billion in 2025 to USD 64.47 billion by 2033, exhibiting a CAGR of 11.2%.
Report Scope:

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Vegan Food Market Size 2024-2028

The vegan food market size is valued to increase by USD 29.93 billion, at a CAGR of 15.2% from 2023 to 2028. Growing number of vegan consumers will drive the vegan food market.

Market Insights

North America dominated the market and accounted for a 44% growth during the 2024-2028.
By Distribution Channel - Offline segment was valued at USD 14.71 billion in 2022
By Product - Dairy alternative segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 189.74 million 
Market Future Opportunities 2023: USD 29928.70 million
CAGR from 2023 to 2028 : 15.2%

Market Summary

The market continues to gain momentum as an increasing number of consumers embrace plant-based diets for ethical, environmental, and health reasons. This shift in consumer behavior has led to a surge in new product launches across various food categories, from plant-based meat alternatives to dairy-free beverages and desserts. However, the market faces challenges, particularly in the area of product standardization. With no universally accepted guidelines for vegan certification, companies must navigate complex supply chains to ensure the authenticity of their offerings. For instance, a food manufacturer may source ingredients from multiple suppliers, each with varying levels of transparency regarding their production processes.
Ensuring that all ingredients meet vegan standards can be a time-consuming and costly process. Furthermore, compliance with various food safety regulations adds another layer of complexity to the supply chain. Despite these challenges, companies are finding innovative solutions to optimize their operations and meet the growing demand for vegan food. For example, some manufacturers are partnering with third-party certification agencies to streamline the verification process. Others are investing in technology solutions to improve traceability and transparency throughout their supply chains. As the market continues to evolve, companies that can effectively navigate these challenges will be well-positioned to succeed.

What will be the size of the Vegan Food Market during the forecast period?

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The market continues to evolve, reflecting shifting consumer preferences and advancements in food technology. One notable trend is the increasing focus on plant sterol content, a key factor in cholesterol reduction. According to recent research, vegan foods with plant sterols can reduce LDL cholesterol levels by up to 10%. This statistic underscores the business relevance of incorporating such ingredients into product innovation and new product development. Another trend gaining traction is the use of encapsulation technologies for vitamin B12 fortification. Consumers are increasingly conscious of their nutrient intake, particularly with regard to this essential vitamin, which is often lacking in vegan diets.
High-pressure processing and thermal processing optimization are essential in ensuring the efficacy of these encapsulation technologies. Quality control systems and nutrient preservation are crucial in maintaining the integrity of these fortified products. Furthermore, sensory perception plays a significant role in consumer preferences. Companies must invest in process validation and fiber content analysis to optimize taste and texture, making plant-based alternatives more appealing to a broader audience. Incorporating vegan omega-3 sources, such as algae oil, can also enhance the nutritional value and sensory appeal of these products . As the market continues to expand, companies must prioritize product innovation, microbial spoilage prevention, and carbohydrate metabolism research to cater to the evolving needs and preferences of consumers.

Unpacking the Vegan Food Market Landscape

The vegan food market is evolving rapidly as plant-based meat production methods and novel methods for plant-based protein extraction drive innovation across the sector. Development of vegan cheese analogs, improving the texture of plant-based milks, and strategies for improving vegan food taste and texture are central to enhancing consumer perception of vegan food quality. Optimizing the nutritional profile of vegan foods and measuring the environmental footprint of vegan foods support both health and sustainability goals, while reducing environmental impact of vegan food production and implementing sustainable supply chains for vegan ingredients align with broader climate-conscious initiatives.

Challenges in scaling up vegan food production are being addressed through new technologies for vegan food processing, advanced techniques in vegan food preservation, and applications of precision fermentation in vegan food. Using AI in vegan food product development enables rapid formulation improvements and cost reduct

The Canada Plant-Based Food and Beverages Market is Segmented by Type (Plant-Based Dairy, Meat Substitutes, Plant-Based Nutrition/Snack Bars, and More), by Ingredient Source (Soy, Almond, Pea, Oat, and More), by Form (Refrigerated/Chilled, Frozen, and Shelf-stable/Ambient), and by Distribution Channel (On-Trade and Off-Trade). The Market Forecasts are Provided in Terms of Value (USD).

The Indonesia Plant-Based Food and Beverage Market is Segmented by Product Type (Meat Substitutes, Dairy Alternative Beverages, Non-Dairy Ice Cream, and More), Ingredient Source (Soy, Almond, and More), Form (Chilled/Shelf-Stable, and Frozen), Distribution Channel (On-Trade and Off-Trade), and Region (Western Indonesia and More). The Market Forecasts are Provided in Terms of Value (USD).