However, due to rising consumer demand for vegan seafood, increasing investments and food innovations in species-specific seafood substitutes, and an increasing number of new product releases, the seafood substitute category is predicted to develop at the quickest CAGR throughout the forecast period.īased on Application, the market is divided into Soy, Almond, Wheat and Others. The growing number of lactose intolerant people, growing ethical concerns among consumers about animal maltreatment in modern dairy farming practices, and the nutritional benefits offered by plant-based dairy products are all contributing to this segment's huge market share. The dairy alternatives section of the Plant Based Food industry is predicted to account for the highest share of the market. On the Basis of type, the market is divided into Dairy Alternatives, Meat Alternatives, Egg Substitutes and Condiments and Others. More report information will load here after submitting the form. Plant Based Food Market Size, 2022 To 2030 (USD Billion) As a result, the stock market is looking up. Consumer awareness of animal welfare and the prevention of animal cruelty in the food industry is growing, resulting in a shift in consumer preference for Plant Based Food items all over the world. Furthermore, the industry is growing due to the rising adoption of vegan eating patterns around the world. One of the major factors driving the market's growth is the rising prevalence of chronic lifestyle illnesses and sensitivity to animal protein. Fruits, vegetables, nuts, oils, whole grains, and legumes are commonly used in these products, which do not contain any animal-sourced ingredients like meat, milk, or eggs. Plant Based Food refers to a wide range of foods made from natural plant-based substances. The Global Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 11.70% over the forecast period. The Global Plant Based Food Market is valued at USD 44.68 Billion in the year 2022 and is projected to reach a value of USD 108.30 Billion by the year 2030.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |