Market Overview
As per the MRFR analysis, the global plant-based food & beverages market is expected to exhibit a CAGR of 10.92% and reach a value of USD 40,697.2 million by 2028. Plant-based food and beverages are referred to as foods comprising of or got from plant-based ingredients like natural products, vegetables, vegetables, nuts, and grains. They don’t contain any animal-based ingredients and are in this manner liked by shoppers embracing a veggie lover or vegetarian diet. Plant-based food and beverages are veggie lovers well disposed of, and the items fabricated by the organization are guaranteed as vegetarian amicable.

The global plant-based food and beverages market is estimated to register a healthy development during the projected time frame. There are a few factors emphatically or contrarily influencing the market development such as the growing popularity of the vegan diet among people and the growing prevalence of lactose intolerance. However, the poor sensory properties and allergen reaction associated with certain plant protein sources and taste of the products may hinder the global market growth during the study period

Segment Overview
The global plant-based food & beverages market has been classified into Product Type, source, category, and distribution channel.
By product type, the global plant-based food & beverages market has been segmented into plant-based milk & derivatives, plant-based milk, plant-based meat, bakery & confectionery, sweet & savory snacks, plant-based juices, RTD tea & coffee, and others. The plant-based milk & derivatives segment is further classified into plant-based milk, plant-based cheese, plant-based yogurt, plant-based butter, and others. The plant-based meat is further sub-divided into tofu & tofu products, sausages & patties, seitan, tempeh, and others.

In terms of source segment, the global plant-based food & beverages market has been classified as soy, wheat, pea, coconut, almond, cashew, and others.

Based on category type, the global plant-based food & beverages market has been segregated as conventional and organic. By distribution channel, the global plant-based food & beverages market has been divided into store-based and non-store-based. The store-based segment is further segmented as supermarkets & hypermarkets, convenience stores, and others.

Regional Analysis
Geographically, the global plant-based food & beverages market has been classified into North America, Europe, Asia-Pacific, and the Rest of the World. Europe dominated the market with a market share of 37.41% in 2020 and is also evaluated to exhibit a rapid growth rate between 2021 and 2028. North America is anticipated to register a CAGR of 10.77% during the review period having the second-largest market in 2020.
Europe is anticipated to be an attractive region for manufacturers of plant-based food & beverages in the future. The regional market is driven by the demand for plant-based food & beverages. Additionally, Consumer’ inclination towards healthy and nutritious drink choices over high-calorie soft drinks fuels the market development.

Major Players
The key players in the global plant-based food & beverages market include Tyson Foods, Inc (Arkansas), Danone SA (France), Nestl? S.A. (Switzerland), General Mills, Inc. (US), Clara Foods (US), Keystone Natural Holdings (US), Premier Foods Plc (UK), Del Monte Fresh Produce NA, Inc. (US), Amy’s Kitchen (US), and Blue Diamond Growers (US).

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