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Why Plant-Based Food Is Becoming Increasingly Popular in the Food Industry?

Via: ReleaseWire

Updated 11:45 PM CDT, Thu, October 31,2019

Global Plant-Based Food Market is Anticipated to Reach a Market Value of US$ 38.4 Billion by 2025, Growing at a CAGR of 8.94% during the 2019-2025 period.

Noida, India -- (ReleaseWire) -- 10/31/2019 -- The anticipated rise of plant-based food worldwide can be attributed to the impact of non-vegetarian and dairy food on human health and the environment. The livestock industry is one of the major contributors to global warming. Relative to plant-based agriculture, meat production has a much higher environmental impact in relation to freshwater use, amount of land required, and waste products generated. The recommended and potential approach for reducing the impact of humanity on the environment is to promote the increased consumption of plant-based foods. It would also help in reducing the high rates of numerous chronic diseases such as cardiovascular disease and certain cancers. According to the International Diabetes Federation, in 2017, approximately 425 million adults (20-79 years) were living with diabetes; which is anticipated to reach 629 million by 2045. Several studies claim that whole-foods or plant-based diets can help in preventing and even reverse food and lifestyle-borne illnesses, such as heart disease and type 2 diabetes. Some of the items contributing to health issues include bakery items and snacks. The Plant-Based Food Market is expected to grow at a CAGR of 8.94% in the course of the forecast period (2019-2025) and reach a market valuation of US$ 38.4 billion by 2025.

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Consumers are changing their meat and dairy consumption habits by adding plant-based proteins to their diet more frequently they are doing so to improve their diets in terms of health and sustainability. They are becoming more health-conscious and are demanding food and beverage products that are natural and low in fat and calorie content to prevent the increasing instances of obesity and related diseases. According to Nestlé, 87% of Americans, both vegans, and meat-eaters are incorporating plant-based protein into their diets, with two-thirds of them doing so one or more times a week. At the same time, research conducted by comparethemarket.com found that 7% of the UK's population are avoiding animal-related products completely and are embracing plant-based lifestyles. Importantly, this figure has surged significantly since 2016. With more people shifting away from meat toward a cleaner, plant-based protein alternative, many new start-ups offering innovative products have entered the market to meet the growing demand. In fact, the plant-based food sector is currently valued at US$ 21.18 billion globally. The plant-based foods industry is seeing tremendous growth in the United States, with sales up 20% in dollar value since 2017. According to data PBFA commissioned from Nielsen, a leading retail data company, plant-based food sales topped $3.3 billion over the past year. 7% of the U.K. population identifies as vegan, while a 2016 study found that 4.3% of the German population between 18 and 79 identified as vegetarian. In comparison, only 3.3% of people in the U.S. considered themselves vegan or vegetarian.

The animal agriculture dominates the world's food system even though it is highly inefficient as an enormous amount of resources are needed to produce the meat and animal products consumed across the world. Approximately, 26% of land worldwide is dedicated to grazing livestock, while 33% of the land is allocated for growing feed. Additionally, around 70% of the world's freshwater supplies are used for agriculture, about one-third of which is for livestock feed. The United Nations Food and Agriculture Organization (FAO) estimates that livestock production is responsible for 14.5% of global greenhouse gas emissions, while other organizations like the World watch Institute have estimated it could be as much as 51%. Climate change is recognized as a significant public health issue that will impact on food security. One of the major contributors to global warming is the livestock industry and relative to plant-based agriculture, meat production has a much higher environmental impact in relation to freshwater use, amount of land required, and waste products generated. The shift towards plant-based eating has been largely fueled by consumer concern regarding animal welfare, personal well-being and the health risks linked to eating meat (especially red meat).

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The global meat and dairy sector are currently going through an unprecedented level of competition and disruption, driven by the growth of viable plant-based alternatives across many categories. The growing trend to incorporate vegetarian options into a diet of meat and fish is known as "flexitarianism," and it comes with immense health benefits. Currently, Americans eat a lot of red meat. According to the USDA, the average American ate 222.4 pounds of red meat in 2018; that's the equivalent of 890 quarter-pound burgers (or 2.4 burgers a day). The World Cancer Research Fund recommends limiting red meat consumption to no more than three 4-ounce portions a week. That means folks are eating more than five times the amount of red meat experts recommends as part of a healthy diet. Research from the U.S. Department of Health & Human Services found a diet of too much red meat comes at a cost, including increased risk of colorectal cancer, heart disease, cardiovascular disease, obesity, and high cholesterol levels. Processed meat, in particular, is higher in sodium, which has been linked to an increased risk of coronary heart disease and type-2 diabetes. The meat substitutes market is expected to reach more than US$7.1 billion globally by 2025. While overall food sales declined by 0.2%, sales of plant-based foods increased by 8.94%.

Some of the major companies operating in the global plant-based food market are Tofurky, Quorn foods Inc., Amy's kitchen, Archer Daniel's Midland, Claudron Foods, Morning Star Farms, Sweet Earth Foods, Impossible Foods, Maple Leaf food, Beyond Burgers. These players consistently aim to focus on product development, new product launch and enhance their existing portfolios to expand their customer base and strengthen their market position. 

Plant-Based Food Market

Market Insights, by Product

Plant-Based Dairy Alternatives

Plant-Based Sports Nutrition

Plant-Based Meat Substitutes

Market Insights, by Application

Supplements & Nutritional Powder

Beverages

Bakery and snacks

Breakfast cereals

Infant nutrition

Others

Market Insights, by Source

Soy protein

Pea Protein

Wheat Protein

Others

Market Insights, by Region

North America Plant-based Food Market

United States

Canada

Mexico

Rest of North America

Europe Plant-based Food Market

Germany

United Kingdom

France

Rest of Europe

Asia-Pacific Plant-based Food Market

China

Australia

India

Singapore

Rest of Asia-Pacific

Rest of the World

Top Companies Profiled

Sweet Earth Foods

Quorn foods Inc.

Amy's kitchen

Archer Daniel's Midland

Cauldron Foods

Morning Star Farms

Beyond Meat Company

Impossible Food Ltd.

Maple Leaf Food

Tofurky

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