Plant-Based Food Market Size, Share and Forecast 2022-29

The Plant-based Food Market is expected to reach $113.1 billion by 2031, at a CAGR of 12.3% during the forecast period of 2024 to 2031. This market's growth is driven by the increasing intolerance for animal-derived protein amongst consumers, the growing vegetarian population, the rising number of venture investments in plant-based food companies, innovation in food technology, and the growing focus on animal welfare and sustainability. In addition, the increasing number of research & development and new product launches by plant and protein alternative manufacturers and emerging economies, such as Asia-Pacific, Latin America, and the Middle East & Africa, are expected to create lucrative opportunities for players operating in this market.