The global plant-based food market is expected to reach 77.8 billion U.S. dollars in 2025. Further growth is expected. The forecast projects that by 2030 the market will have more than doubled. For 2022, the model expects a market worth 44.2 billion U.S. dollars.

The global plant-based food market size is predicted to expand by 3x, witnessing an increase from US$ 11.3 billion in 2023 to US$ 35.9 billion by 2033. Overall plant-based food sales are poised to surge at a stupendous CAGR of 12.2% between 2023 and 2033.

Scope of the Report

The global plant-based food market size reached USD 11.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 30.3 Billion by 2033, exhibiting a growth rate (CAGR) of 11.1% during 2025-2033. The market is experiencing significant growth driven by the growing demand for sustainable food options to stop animal cruelty, rising adoption of vegan lifestyle habits among the masses, and increasing availability of a wide variety of unique vegan food products via online platforms.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on type, source, and distribution channel.

The report covers Global Plant Based Food and Beverages Market Future Trends is segmented by Product Type (Meat Substitutes, Dairy Alternatives Beverages, Non-dairy Ice Cream, Non-dairy Cheese, Non-dairy Yogurt, and Non-dairy Spreads), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Online Retail Stores, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).

In 2020, sales of plant-based food in Europe were valued at almost 6.6 billion U.S. dollars. By 2026, this figure is expected to reach 11.9 billion U.S. dollars.

The report covers Vegan Food and Beverage Market in Mexico and is segmented by Product Type (Meat Substitutes, Dairy Alternative Beverages, Non-dairy Ice Cream, Non-dairy Cheese, Non-dairy Yogurt, Non-dairy Spreads, and Other Plant-Based Products); and Distribution Channel (Supermarkets/Hypermarkets, Convenience/Grocery Stores, Online Retail Stores, and Other Distribution Channels)

In fiscal year 2021, the market size of plant-based foods in Japan was estimated at 34 billion Japanese yen. The market was forecast to grow steadily to 73 billion yen in fiscal 2025. While the rising awareness of sustainable and ethical consumption is stimulating market growth in Japan, plant-based foods have long been a part of Japanese eating culture without recognition as an alternative to animal products.

Plant-based proteins

Plant-based foods cover a broad range of alternatives to animal-derived products, but among the most commonly associated segments are meat alternatives made from soybeans. Soy products like tofu are actively consumed as a general side dish in Japan, but a stand-alone soy meat market is only emergent. Advances in food technology have been closing the gaps between conventional meats and imitation products regarding texture, taste, and culinary uses, with the familiarity with meat alternatives slowly growing.

Elevating soy to plant-based foods?

Soy-based foods are considered a factor contributing to the healthy aspect of traditional Japanese foods (washoku), with the beans being processed into a variety of foods, condiments, and beverages. But unlike the global consumer market, soy milk and tofu are considered more as general foods than plant-based alternatives to cow’s milk and meat. Soy milk is consumed as a regular beverage in Japan, with flavored, fruity soy beverages being no rarity on store shelves. Tofu on the other hand is a multipurpose ingredient in Japanese cuisine, available in a variety of textures through frying, freeze-drying, stir-frying, or steaming the pressed soy curds. With startups and established meat processors joining the plant-based food market, manufacturers are faced with the challenge of setting themselves apart from conventional soy products.

[214+ Pages Report] The global plant-based food market size is expected to grow from USD 9.84 billion in 2022 to USD 30.20 billion by 2030, at a CAGR of 15.07% from 2023-2030

The global vegan food market size was valued at USD 19.93 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 42.09 Billion by 2033, exhibiting a CAGR of 8.66% from 2025-2033. North America currently dominates the market. The growth of the North American region is driven by increasing health consciousness, rising demand for plant-based diets, ethical concerns over animal welfare, and expanding vegan product availability.

The report covers China Plant Based Meat Market and is segmented by Product Type (Meat Substitutes, Dairy Alternative Beverages, Non-dairy Ice Cream, Non-dairy Cheese, Non-dairy Yogurt, and Non-dairy Spreads) and by Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Retail Channels, and Other Distribution Channels).

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Vegan Food Market Size 2024-2028

The vegan food market size is forecast to increase by USD 29.93 billion at a CAGR of 15.2% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing number of consumers adopting veganism as a lifestyle choice. According to recent studies, the global vegan population is projected to reach 70 million by 2027, presenting a substantial market opportunity for food companies. This trend is being fueled by various factors, including ethical concerns, health benefits, and environmental sustainability. However, the market is not without challenges. One of the significant hurdles is the lack of standardization guidelines for vegan food products, leading to confusion among consumers and making it difficult for companies to meet consistent quality standards. Additionally, the rapid pace of new product launches in the market is intensifying competition, requiring companies to innovate and differentiate their offerings to stand out. To capitalize on this market opportunity, companies must focus on product development that caters to the evolving consumer preferences while adhering to stringent quality standards. Strategic partnerships, collaborations, and investments in research and development can also help companies navigate these challenges and stay ahead of the competition.

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

Request Free SampleThe market encompasses a range of plant-based alternatives to animal-derived products, including meat substitutes and alternative dairy products. This market has experienced significant growth due to various factors, including the increasing adoption of vegan and plant-based diets for health, ethical, and environmental reasons. The vegan lifestyle, which eschews all animal products, has gained traction as consumers become more health-conscious and seek to reduce their risk of cardiovascular disease and manage weight. Meat substitutes and plant-based meat, such as burgers, sausages, and chicken, have become increasingly popular as consumers seek to reduce their meat consumption. Similarly, plant-based dairy alternatives, including milk, cheese, and yogurt, have gained popularity among those with lactose intolerance or food intolerance network. The market for vegan food is expanding, with food chains offering more vegan options and the rise of vegan meal sales. The trend towards plant-based eating is expected to continue as consumers seek out ethical, sustainable, and healthier food choices.

How is this Vegan Food Industry segmented?

The vegan food industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. Distribution ChannelOfflineOnlineProductDairy alternativeMeat alternativeOthersGeographyNorth AmericaUSEuropeFranceGermanyAPACChinaJapanSouth AmericaMiddle East and Africa

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period.The market encompasses plant-based alternatives to meat substitutes and dairy products, catering to consumers adhering to a vegan or plant-based diet for ethical, health, or environmental reasons. Meat substitutes, such as Quorn Foods' mycoprotein and Cauldron Foods' soy-based products, are gaining popularity due to their nutritional content and ability to mimic the taste and texture of animal-derived meat. Alternative dairy products, including vegan milk from companies like Daiya Foods, Treeline Cheese, and Harvest Gourmet, address lactose intolerance and food intolerance concerns, as well as ethical and environmental considerations. Consumer behavior is influenced by health consciousness, cardiovascular disease prevention, and weight loss goals. Innovative food packaging and delivery services, such as vegan meal deliveries and plant-based food products from food chains, contribute to the market's growth. The flexitarian diet, which includes occasional consumption of plant-based meals, also drives demand for plant-based food products. The market's revenue is significantly contributed by plant-based protein sources, such as soy, pea, and wheat, and dairy alternatives, including vegan cheese and plant-based milk. Ethical consumption, health benefits, and dietary preferences are key factors influencing consumer choices. Online distribution channels, such as grocery platforms and the Internet penetration, are increasingly popular for purchasing vegan food products. Environmental concerns, including animal health, animal cruelty, and greenhouse emissions, are also driving the market's growth.

Get a glance at the market report of share of various segments Request Free Sample

The Offline segment was valued at USD 14.71 billion in 2018 and showed a gra

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...

In 2019, the value of the plant-based food market in Thailand amounted to around 28 billion Thai baht. Such market value was forecast to reach 45 billion Thai baht in 2024. From 2019 to 2024, the compound annual growth rate of the plant-based market was also estimated to be ten percent.

The Indonesia Plant-Based Food and Beverage Market Report is Segmented by Type (Meat Substitutes, Dairy Alternative Beverages, Non-Dairy Ice Cream, Non-Dairy Cheese, Non-Dairy Yogurt, Non-Dairy Spreads, and Other Plant-Based Products) and Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, and Other Distribution Channels). The Report Offers Market Sizes in Value Terms (USD) for all the Above Segments.

The global plant based food and beverage market value reached approximately USD 23.96 billion in 2024. The market is further projected to grow at a CAGR of 9.4% between 2025 and 2034, reaching a value of USD 54.23 billion by 2034.

Global Plant Based Food Market Size By Product Type (Dairy Alternatives, Meat Substitutes), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Sales Channels), By Geographic Scope And Forecast

[215+ Pages Report] The global vegan fast food market size is expected to grow from USD 17.05 billion in 2022 to USD 23.07 billion by 2030, at a CAGR of 3.85% from 2023-2030

The report covers Plant Based Food Canada Market and is segmented by Product Type (Meat Substitutes, Dairy Alternative Beverages, Non-dairy Ice Cream, Non-dairy Cheese, Non-dairy Yogurt, Non-dairy Spreads, and Other Plant-Based Products); and by Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Retail Channels, and Other Distribution Channels).

The India vegan food market size reached USD 1,468.3 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 3,822.3 Million by 2033, exhibiting a growth rate (CAGR) of 10% during 2025-2033. The increasing awareness about the health benefits of plant-based diets, the increasing vegan population in the country, and the availability and accessibility of vegan food products are some of the major factors propelling the market.

IMARC Group provides an analysis of the key trends in each segment of the India vegan food market report, along with forecasts at the country and regional levels from 2025-2033. Our report has categorized the market based on product, source and distribution channel.

The Chinese Plant Based Food and Beverage Market size was valued at USD 1.4 Million in 2023 and is projected to reach USD 2.85 Million by 2032, exhibiting a CAGR of 5.11 % during the forecasts periods. The plant-based food and beverage market in China is rapidly expanding, driven by increasing consumer interest in health, sustainability, and dietary diversity. This market includes a variety of products such as plant-based milk, meat alternatives, snacks, and ready-to-eat meals, made from ingredients like soy, almond, oats, and peas. Factors such as rising awareness about the environmental impact of animal farming, concerns over health and wellness, and a growing middle class are fueling this trend. As of 2023, the market is experiencing significant growth, with both local and international brands actively investing in and developing innovative plant-based offerings to cater to evolving consumer preferences. The market benefits from supportive marketing strategies, improved product quality, and increasing availability through major retail channels. However, it faces challenges including competition from traditional food products, the need for ongoing improvements in taste and texture, and issues related to ingredient sourcing and supply chain logistics. Overall, the Chinese plant-based food and beverage market is poised for continued expansion, reflecting a shift towards more sustainable and health-conscious eating habits. Recent developments include: In May 2022, one of the prominent plant-based meat suppliers Beyond Meat expanded in China following a new partnership with Chinese convenience shop Lawson. In accordance with the deal, two plant-based lunch boxes were supplied to more than 2,300 Lawson stores across the country., In June 2021, LIVEKINDLY Collective has introduced two new vegan meat brands in an effort to meet Chinese customers' growing desire for plant-based foods and drinks. The flagship vegetarian meat products Giggling Pig and Happy Chicken were created to cater to Chinese culinary preferences. The seven products offered by the brands included dumplings, seasoned mince, and several meals made with mushrooms., In January 2021, Thailand-based Sesamilk Foods announced its plans about targetting China and Taiwan as part of its expansion strategy abroad to increase export business from 30% to 80% by 2022-2023.. Key drivers for this market are: Rising Demand for Clean Label Food & Beverage Products, Rising Demand for Dairy Products. Potential restraints include: Presence of Preservatives in Ready Meals may Hamper the Market Growth. Notable trends are: Growing Popularity of Vegan Diet in China.